HDFC SL Single Premium Pension Super Plan

HDFC SL Single Premium Pension Super Plan is a Unit Linked Deferred Pension plan with one-time payment option. It ensures high growth through investment in market securities and reasonable annuity payouts.

Key Features

  • It is a non-participating Unit Linked plan with Single premium payment option
  • 101% of premiums paid including top-up premiums paid is guaranteed on Vesting thereby reducing the impact of market risk
  • The premiums paid net of charges is invested in Pension Super Plus 2012 Fund

Benefits

  • On Vesting, higher of the accumulated Fund Value or an Assured Benefit of 101% of Single premium paid including top-up premium, if any, will be payable. The benefit can be used to:
    • Purchase another Single Premium Deferred Annuity Plan from the company
    • Commute 1/3rd of the corpus and purchase an Annuity with the remaining 2/3rd part from the company
    • Use the entire corpus to buy an annuity from the company
    • Or extend the Vesting Age by 5 years if age is lower than 55 years
  • On death, higher of the Fund Value or 105% of Single premium paid including top-up premiums if any, is paid to the nominee who can buy an annuity from the proceeds or withdraw the entire 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. Death Benefit is exempted under Section 10(10D) of the Income Tax Act

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

40 years

75 years

Vesting Age (Last Birthday)

50 years

85 years

Policy term (in years)

10

Premium Paying Term (in years)

Equal to policy term

Premium

25,000

No limit

Policy Details

  • Grace Period: grace period is not applicable for Single Premium mode
  • Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges. The Surrender Value should be used to receive annuity under the same options as on vesting.
  • 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.

Exclusions

  • There are no exclusions under the plan

Inclusions

  • Top-ups can be done subject to a minimum of Rs.10,00 to increase the Fund Value

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.
Average Rating
(Based on 0 Reviews)
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HDFC SL Single Premium Pension Super Plan Reviews & Ratings

0 / 5 (Based on 7 Reviews)
(Showing Newest 7 reviews)
Parul
Punjab, August 02, 2021
Inexpensive term plan
My friend is 30 year old and I am 25 years old and noticed a difference in our term plan price. I visited Policybazaar and read some blogs there. I found out that term plans are cheaper if you buy at young age. I am glad to buy this plan at the right time.
Amrita
Chail, August 02, 2021
Tax savings
I recently bought a term insurance policy from the website of Policybazaar. My plan has amazing features and some additional benefits due to an addon. The best part is I can also enjoy a tax rebate. I am so glad to buy this plan.
Pratap
Niwari, August 02, 2021
Purchased Online
My friend asked me to buy a term insurance plan online as it is cheaper and more convenient. I visited the website of Policybazaar and bought a term policy which offers great benefits at cheap rates. My online experience has been great. Thank you team.
Anurag
Modinagar, August 02, 2021
Protection against COVID
The pandemic had me worrying about the future of my family in my absence. I have been searching for a pure insurance policy to safeguard my family against any eventuality. With the help of Policybazaar now I my family is secure as a bought a specialized term plan made to help family of the policyholder.
Kashish
Meerut, August 02, 2021
Best customer service
I did not understand much about insurance but I knew one thing that I needed to secure the future of my family. I took help from the team of Policybazaar and they suggested me what would be best for me. I am happy with my plan. Thank you so much team.
Komal
Palwal, August 02, 2021
Huge coverage
I recently bought a term plan from the website of Policybazaar and I am happy with the product. I got a higher coverage term plan with additional benefits and at cost effective price. Now I am worry free for the future security of my family in my absence. Thanks.
Harisha
Gurgaon, August 02, 2021
Quick to buy
My friend suggested me to buy a term insurance plan online. I visited the website of Policybazaar and it took me about half an hour or maybe less to buy the plan online. The experience was smooth and I am happy with my plan. Kudos team.
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