HDFC Life New Immediate Annuity Plan

HDFC Life New Immediate Annuity Plan is a traditional pension plan where annuity starts immediately. The annuity payouts occur from the next chosen frequency immediately after payment of lump sum premium and the payouts are available under various options

Read more

Get Guaranteed Lifelong Pension
For You And Your Spouse

Invested amount returned to your nominee

Best Pension Options
  • Invest 20k monthly & Get yearly pension of 4.2 Lacs for Life

  • Guaranteed Return For Life

  • Multiple Annuity Options

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Buy Online and Get ₹ 1.4 Lacs extra#
Get Guaranteed Lifelong Pension
For You And Your Spouse
Invested amount returned to your nominee
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Why we need your mobile number?
We need it to confirm more details about you and advise accordingly. Our licensed experts work for you, not the insurance companies, so their advice is entirely unbiased
— No sales pitches here

HDFC Life New Immediate Annuity Plan Features

  • It is an immediate annuity plan and a traditional pension plan with single premium option where the annuity starts immediately after premium payment from the next chosen date

  • The Purchase Price is returned on death or on Critical Illness

  • The annuity options can be chosen for a single life (policyholder) or for joint life (policyholder and spouse)

  • The annuity options are:

    • Life Annuity

    • Lifetime Annuity with Return of 100% of Purchase Price

    • Lifetime Annuity with Return of Balance of Purchase Price

    • Life Annuity guaranteed for 5/10/15 or 20 years and thereafter payable for life

    • Life Annuity increasing at a simple rate of 5% p.a.

    • Lifetime Annuity with Return of Purchase Price in parts

    • Lifetime Annuity with Return of 100% of Purchase Price on diagnosis of Critical Illness or death

    • Joint Life Last Survivor with 100% annuity to the secondary annuitant

    • Joint Life Last Survivor with 50% annuity to the secondary annuitant

    • Joint Life Last Survivor with 100% annuity to the secondary annuitant and Return of 100% of Purchase Price

    • Joint Life Last Survivor with 50% annuity to the secondary annuitant and Return of 100% of Purchase Price

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

HDFC Annuity Plan Benefits

  • Annuity payouts will be paid as per the frequency chosen immediately after the premium paid

  • Under the option of Life Annuity with Return of Purchase price in parts, if the annuitant survives 7 years, 30% of the purchase price is paid and the annuity continues. On death anytime beyond 7 years, 70% of the Purchase Price is paid to the nominee

  • Under the Lifetime Annuity with Return of 100% of Purchase Price on diagnosis of Critical Illness or death, the annuity payouts cease and 100% of the purchase price is returned if the policyholder dies or is diagnosed with a critical illness before the age of 85 years

  • Income tax benefit on the premium paid as per Section 80CCC of the Income Tax Act.

Product Specification:

Minimum Maximum
Entry Age (Last Birthday) 30 years 85 years
Purchase Price Depends on age and the annuity chosen
Yearly Annuity Payout 10,000 No limit
Annuity payout Frequency Monthly, quarterly, half-yearly, yearly

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Policy Details

Grace Period: Grace period is not applicable.

Policy Termination or Surrender Benefit: the policy can be surrendered only in case of 3 options. The options and the respective Surrender Values are:

  • Life Annuity with Return of 100% of Purchase Price – 10% of Purchase Price
  • Life Annuity with Return of 100% of Purchase Price in case of Critical Illness or Death – 10% of Purchase Price
  • Life Annuity with Return of Purchase Price in parts – 10% of Purchase Price if surrendered within 7 years and 7% thereafter

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

  • Loan is not available under the plan

Additional Features or Riders

  • The annuity rates are higher for higher Purchase Price of 250,000 and above

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents.

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL