Saving & Investment Plan
- HDFC SL ProGrowth Super II
- HDFC Life Progrowth Plus
- HDFC SL ProGrowth Maximiser
- HDFC Life ClassicAssure Plus
- HDFC Life Super Savings Plan
- HDFC SL Progrowth Flexi
- HDFC Life Smart Woman Plan
- HDFC Life Invest Wise Plan
- HDFC SL Crest
- HDFC Life Super Income Plan
- HDFC Life Sanchay
- HDFC Life Pension Super Plus
- HDFC Life Personal Pension Plus
- HDFC Life Guaranteed Pension Plan
- HDFC Life New Immediate Annuity Plan
- HDFC Life Single Premium Pension Super Plan
HDFC Life Single Premium Pension Super Plan
Invest in your future
- 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
- 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.
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 premiumIt is a Whole life insurance requiring just one initial lump sum payment. 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 premiumIt is a Whole life insurance requiring just one initial lump sum payment. 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
|Category||First Year Commission||2nd year Renewal commission|
|Savings & Investment||1%||35%||0%||3%|
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.
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 PremiumIt is a Whole life insurance requiring just one initial lump sum payment. 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 PremiumIt is a Whole life insurance requiring just one initial lump sum payment. 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.
What is an Retirement Plan?
Retirement Plans refer to insurance plans which aim to offer you income/ pension after retirement when you may not have any other adequate source of income.
What are the benefits of a retirement plan?
Retirement Plans provide you with a steady flow of income post retirement so that you can continue to live a financially independent life.
What are Unit Linked Pension plans?
Unit Linked Pension Plans are a good tool to help you accumulate your savings in your earning years and give you a lump sum amount at the time of your retirement. Being a unit linked plan, you have the flexibility to choose your investment fund and the freedom to switch between funds, depending upon your needs. At the time of maturity, you are paid the fund value based on the prevailing unit price.
How can I get my Guaranteed Income?
Guaranteed income implies annuity. Annuity is a separate policy which needs to be purchased on maturity (vesting) of the pension plan. The annuity depends on the annuity rate prevailing at the time of the purchase. Once purchased the annuity amount is guaranteed for life.
Can I withdraw before maturity?
The plan aims to help in creating funds for retirement. Withdrawals will hamper such fund creations, hence partial withdrawals are not allowed in this plan.