HDFC Life Single Premium Pension Super Plan

Invest in your future

Features

  • A unit linked single pay pension plan which will create corpus during the policy term so that you can enjoy post retirement income for life
  • Maturity (vesting) benefit will be used to provide you with guaranteed regular income i.e. an annuity
  • Assured benefit of 101% of premiums paid on vesting/ maturity

Know more

Benefits

  • Benefit of a fund whose assets are dynamically allocated between equity and debt
  • In the event of demise during the policy term, your nominee will receive the death benefit, which will provide the much needed financial assistance
  • You will get guaranteed income for life for yourself and your spouse*

*under joint life annuity option.

Know more

Contact Us

Contact Number
Ahmedabad
6160 6161

Features and Benefits of HDFC Life Single Premium Pension Super Plan

  • Age Limits: Entry age from 40 to 75 years and Age at vesting is 50 to 85 years
  • Policy Term: 10 years
  • Opportunities to build a corpus for post retirement income - Invest now and secure your post retirement income.
  • Benefit of assured vesting value at the end of the policy term, and your Maturity (Vesting) Benefit will be the higher of the following: Fund Value or Assured benefit of 101% of total premiums paid i.e. single premium and top-up premium paid till date.
  • Opportunity to build corpus for post retirement income - Your premium will be invested in an exclusive fund which will allocate assets dynamically between equities and fixed income assets
  • Benefits on maturity (vesting): At vesting, you have to purchase an annuity from us. You can choose from a range of annuity options. You will get guaranteed income for life for yourself and your spouse. You also have option to commute up to 1/3rd of the benefit at vesting tax free.
  • Death BenefitIn case of your unfortunate demise before the end of policy term, your nominee will receive the higher of Fund Value or 105% of total premiums paid i.e. single premium and top-up premium

A significant part of the policy benefits will not available as a lump sum but would need to be mandatorily taken as annuity.

Commission for Life Insurance

As per RBI circular: RBI/2009-10/225 dated November 16, 2009, following are the details of the comparative commission earned by HDFC Bank from Insurance (Life), whose products are being distributed:

Commission, Brokerage and trail from Life Insurance

CategoryFirst Year Commission2nd year Renewal commission
MinMaxMinMax
Health 2% 25% 0% 7.50%
Pension 2% 7.50% 0% 2%
Protection 2% 35% 0% 0%
Savings & Investment 0% 35% 0% 3%
Group Product* 2% 2% 0% 0%

Note: The commission varies depending upon the Product in each category, tenure, amount of premium and premium paying term

*For Group Products commission payable is 2% of the premium with a ceiling on the maximum payout as defined by Insurance Regulatory And Development Authority (IRDA) from time to time.

Important Disclaimer

HDFC Standard Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011 : - The policy holder may avail of benefits are as provided under the tax laws. The premium would be subject to Service tax & education cess as per applicable tax rates. Tax laws are subject to change basis the amendments made from time to time.

HDFC Standard Life Insurance Company Limited. In Partnership with Standard Life Insurance is the subject matter of the solicitation. For more details on risk factors, terms and conditions and exclusions please read the product brochure before conclusion of sale. HDFC Life Single Premium Pension Super form no.P501 UIN 101L086V02 is a unit Linked insurance product offered by HDFC Life. This is a non participating united linked Plan. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. In this policy the investment risk in investment portfolio is borne by the policyholder. All Unit Linked Insurance Plans are different from the traditional insurance plans and are subject to different risk factors. HDFC Standard Life Insurance Company Limited is the name of our Insurance company and HDFC Life Single Premium Pension Super UIN 101L086V02 is the name of the plan. The name of our company and the name of our plan do not, in anyway, indicate the quality of the plan, its future prospects or returns. HDFC Standard Life Insurance Co.Ltd. Reg.No.101

HDFC Bank Limited (“HDFC Bank") is a corporate insurance agent of HDFC Standard Life Insurance Company Limited (“HDFC Life") under Corporate Agent's license no.933982 issued by Insurance Regulatory & Development Authority and does not underwrite the risk or acts as an insurer. The insurance is underwritten by HDFC Life. This policy is issued to you by HDFC Life and is subject to the terms and conditions governing such policy. The contract of insurance is between HDFC Life and the insured only, and not between HDFC Bank and the insured .HDFC Bank is acting merely as the corporate agent of HDFC Life and there is no direct or indirect linkage between the provisions of the banking services offered by HDFC Bank. Your participation in this product is purely on a voluntary basis. HDFC Bank is not responsible or liable for performance of any obligations under the contract of insurance.

Have questions?

Close
 
Banner

Fast-track your Personal Loan with a single document

Apply Online