HDFC SL Personal Pension Plus Plan

HDFC SL Personal Pension Plus Plan is a traditional participating deferred annuity plan where after paying premiums, the annuity payouts start after some time. The plan is designed to take care of the lifestyle expenses post retirement by providing regular cash inflows

HDFC Annuity Plan Features

  • It is a participating Deferred Annuity Plan with regular premium payment option
  • The plan promises return of at least 101% of all premiums paid on death or vesting

HDFC Annuity Plan Benefits

  • On Vesting, higher of the Sum Assured on Vesting including vested bonuses or 101% of all premiums paid is payable
  • The benefit payable on vesting can be utilized in any of the following ways:
    • To commute 1/3rd of the corpus and avail annuity payouts form the remaining part
    • To use the entire corpus to buy an immediate annuity form the company
    • To use the entire proceed to buy a Single Premium Deferred Annuity from the company
  • On death, an Assured Death Benefit equal to 101% of all premiums paid including bonuses is payable to the nominee subject to a minimum of 105% of all premiums paid till death.
  • The nominee can choose either to receive annuity payouts from the death benefit partly or in full or withdraw the lump sum amount
  • Income tax benefit on the premium paid as per Section 80CCC and on the commuted part as per Section 10(10A) of the Income Tax Act.

Product Specification:




Entry Age (Last Birthday)

18 years

65 years

Vesting Age (Last Birthday)

55 years

75 years

Policy term (years)



Premium Payment Term (years)

Equal to policy term

Yearly Premium


No limit

Sum Assured


Depends on term, age, premium

Premium Payment Frequency

Monthly, quarterly, half-yearly, yearly

 You may also like to read: Present Value of Annuity Table | Types of Annuity 

Details about Premium

Premium in Rupees

Policy term / Sum Assured




15 years




25 years




35 years




Policy Details

Grace Period: Grace period of 15 days is allowed for monthly mode and 30 days for other modes for the payment of premium.

Policy Termination or Surrender Benefit: the policy can be surrendered provided 3 full years’ premium has been paid. The policyholder will be entitled to the higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV)

GSV = GSV % of total Premiums paid + GSV % of vested bonuses

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.


  • Loan is not available under the plan

Additional Features or Riders

  • Reversionary Bonuses, Interim Bonus and Terminal Bonus increase the corpus

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

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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