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.
Invest ₹20k monthly & Get yearly pension of ₹4.2 Lacs for Life
Guaranteed Return For Life
Multiple Annuity Options
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.
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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.
|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
|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|
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|
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.
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You can choose any of the following annuity options:
The pension payment starts right away after a single premium payment, with no delay.
The payment begins immediately, and upon the annuitant's death, the original purchase price is returned to their beneficiary as an inheritance.
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.
Expected Return on Investment
Percentage of Corpus Allocated for Pension
Expected Return from Pension
The table below shows the eligibility criteria of the HDFC Life pension guaranteed plan:
|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|
|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|
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.
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*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
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