HDFC Life Annuity Rates

HDFC Life Annuity is a reliable financial option offered by HDFC Life Insurance Company Limited. An annuity is a financial product that provides a regular stream of income for individuals during their retirement years or for a specified period of time. It serves as a tool for securing a stable income and ensuring a financially secure future.

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  • Invest ₹20k monthly & Get yearly pension of ₹4.2 Lacs for Life

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  • Multiple Annuity Options

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What is HDFC Life Annuity?

HDFC Life annuity is a retirement plan that provides a regular stream of income and is designed to provide financial security and stability, especially during retirement years. In these plans, annuitants pay premiums or make a lump-sum payment to secure a life annuity.

Life annuities are divided into two phases:

  • The initial phase is known as the accumulation phase or deferral stage, where the individual invests money into the annuity through periodic premiums or a one-time lump-sum payment.

  • The subsequent phase is referred to as the distribution or annuitization phase, during which the insurance company or issuer provides the insurer with regular payments usually on a monthly or yearly basis.

Life Annuity Plans can provide peace of mind and can remove concerns about running out of money during retirement.

People also read: SBI Annuity Deposit Scheme Calculator 2024

HDFC Annuity Calculator

Your Age

18 Years 59 Years
Enter Your Age

Monthly Investment

₹500 ₹10L
Enter Investment Per Month

Expected Return on Investment

5% 15%
Expected Return on Investment

Percentage of Corpus Allocated for Pension

40% 100%
Enter Corpus Percentage

Expected Return from Pension

5% 15%
Enter Annuity Return
₹0
Your Monthly Pension
₹0
Your Monthly Pension
Your Pension Calculation
Your Pension Calculation
Total Investment
Returns Earned
Maturity Amount
Maturity Amount split (Lumpsum & Pension)
60%
Lumpsum Amount
At the age of 60 Yrs
40%
Pension Wealth
At the age of 60 Yrs

Best HDFC Life Annuity Plans

  1. HDFC Life New Immediate Annuity Plan

    HDFC Life New Immediate Annuity Plan is a Single Premium Non-Participating Non-Linked Annuity Plan designed to provide you with a reliable income source during your retirement.

    The plan offers the following features:

    • Wide range of annuity options to suit your needs.

    • Annuity received as long as you or your partner is alive.

    • Flexible payout options: monthly, quarterly, half-yearly, or yearly.

    • Higher annuity rates for larger Purchase Price.

    • Option for return of Purchase Price on death or critical illness.

    • Banks/financial institutions can purchase immediate annuities for reverse mortgage commitments.

    • Guaranteed lifelong income with the annuity purchase.

    Eligibility Criteria of HDFC Life New Immediate Annuity Plan

    Parameters Minimum Maximum
    Entry Age 18 years 99 years
    Annuity payout per frequency Yearly: Rs.10,000 Half Yearly: Rs. 5,000 Quarterly: Rs. 3,000
    Monthly: Rs. 1,000
    No limit

    Purchase Price Bands

    Band Purchase Price
    Band 1 Less than Rs. 250,000
    Band 2 Rs. 2,50,000 to Rs. 4,99,999
    Band 3 Rs. 5,00,000 to Rs. 9,99,999
    Band 4 Rs. 10,00,000 to Rs. 49,99,999
    Band 5 Rs. 5,000,000 and above

    Frequency of Annuity Installment on HDFC Life Annuity Rates

    The HDFC Life annuity plan subscribers are free to choose the annuity pension frequency based on individual financial projections.

    The formula for calculating the installment amount is uniform for the plans, as described below:

    Frequency Annuity Pension per Frequency
    Semi-Annual 98% (Annual Annuity) X 1/2
    Quarterly 97% (Annual Annuity) X 1/4
    Monthly 96% (Annual Annuity) X 1/12

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  2. HDFC Life Pension Guaranteed Plan

    The HDFC Life pension guaranteed plan is a one-time payment annuity that aims to offer a consistent and assured income throughout your lifetime. The plan provides various annuity choices to cater to individual preferences and requirements.

    Following are the features of HDFC Life Pension Guaranteed Plan:

    • Plan offers a diverse selection of annuity choices to meet your specific requirements.

    • You can choose to have the plan for yourself or as a joint plan with another person.

    • You have the flexibility to receive the annuity payments immediately or at a later date.

    • You can select the frequency of your annuity payments, whether it's monthly, quarterly, half-yearly, or yearly.

    • In the event of your death, there is an option to have the purchase price returned.

    • Banks and financial institutions have the opportunity to purchase immediate annuities to fulfill their obligations to homeowners in reverse mortgage schemes.

    • You have the option to enhance your annuity payouts through the Top Up feature.

People also read: Annuity Calculator For NRI

Annuity Options Available 

You can choose any of the following annuity options:

  1. Immediate Life Annuity

    The pension payment starts right away after a single premium payment, with no delay.

  2. Immediate Life Annuity with Return of Purchase Price 

    The payment begins immediately, and upon the annuitant's death, the original purchase price is returned to their beneficiary as an inheritance.

  3. Deferred Life Annuity with Return of Purchase Price 

    The pension payment starts after a specified period, and upon the annuitant's death, the beneficiary receives the original purchase price as an inheritance.

    • Choose between an individual or joint life option.

    • You can receive your payments on a monthly, quarterly, half-yearly, or annual basis.

    • You have the option to select the Return of Purchase Price in the event of the annuitant's passing.

    • The top-up option allows for an increased annuity payout.

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Invest ₹10K/Month YOU GET ₹1.5 LAKHS* MONTHLY PENSION View Plans
Invest ₹7K/Month YOU GET ₹1 LAKHS* MONTHLY PENSION View Plans
Invest ₹5K/Month YOU GET ₹75 THOUSAND* MONTHLY PENSION View Plans
standard T&C Apply *

Eligibility Criteria HDFC Life Pension Guaranteed Plan

The table below shows the eligibility criteria of the HDFC Life pension guaranteed plan:

Parameters Minimum Maximum
Entry Age Immediate Life Annuity 30 years 85 years
Immediate Life Annuity with Return of Purchase Price 30 years
Deferred Life Annuity with Return of Purchase Price 45 years
Annuity Payout Monthly Rs 1,000 No Limit
Quarterly Rs 3,000
Semi-yearly Rs 6,000
Yearly Rs 12,000
Purchase Price Immediate Life Annuity Rs 42,076 No Limit
Immediate Life Annuity with Return of Purchase Price Rs 1,60,261
Deferred Life Annuity with Return of Purchase Price Rs 76,046
Premium Payment Term Single Pay

Conclusion

HDFC Life Annuity offers a range of annuity plans that provide retirees with financial stability, flexibility, and peace of mind. With its customer-centric approach and strong track record, HDFC Life is a trusted choice for individuals seeking a reliable annuity solution to support their retirement needs.

People also read: Pros and Cons of the NPS For NRI

FAQ's

  • What determines the amount of the Death Benefit based on HDFC Life Annuity Rates?

    The Death Benefit is only paid out in annuity options where the Return of Purchase Price (ROPP) is selected. In the HDFC Life New Immediate Annuity Plan, the death benefit is also paid upon the diagnosis of Critical Illness.
  • Do I need to pay GST for the Annuity purchased from the NPS corpus?

    No, GST is not applicable to an annuity purchased from the NPS corpus.
  • Is the Annuity Pension subject to taxation according to the existing Income Tax laws?

    The Annuity Pension is classified as salaries under the existing Income Tax laws and therefore subject to taxation in the hands of the subscriber.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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