Every individual should plan well for the retirement days. Retirement planning is of prime importance to lead a stress-free life. A smart way to do this is to buy an annuity plan for the regular source of income during the golden period. Start planning for your retirement with the HDFC Life annuity plan.Read more
Secure Your Retirement with
Pension For Life
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
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HDFC Life annuity rates provide ample scope to plan your retirement finances despite the rising living expenses and inflation. After retirement, a regular income stream is the critical feature of an annuity that secures your family’s finances. It absorbs unforeseen expenses comfortably.
HDFC Life offers two annuity plans to match your specific needs when the regular professional income has dried up with retirement, an essential milestone in your life.
The following are the plans where the HDFC Life annuity rates apply:
The HDFC Life new immediate annuity plan is also a single premium insurance product designed to provide various tailored annuity options. The plan offers the following features:
A wide range of annuity options to meet diverse needs.
Guaranteed income for you and your partner’s lifetime.
Option to choose timely monthly, quarterly, half-yearly or annual annuity payouts.
Option to choose Return of Purchase Price upon the annuitant’s demise and critical illness.
Eligibility Criteria of HDFC Life New Immediate Annuity Plan
The table below shows the eligibility criteria of HDFC Life new immediate annuity plan:
|Minimum Entry Age||30 years|
|Maximum Entry Age||85 Years|
|Minimum Annuity Pension||Monthly: Rs 1000
Quarterly: Rs 3000
Semi-annually: Rs 5000
Annually: Rs 10000
|Maximum Annuity Pension||No Limit|
|Purchase Price Bands||The Annuity Payout is based on the Purchase Price Bands described below: The higher the purchase price, the higher the Annuity Pension.
Band I: Less than Rs 2.5 lakh
Band II: Rs 2.5 lakh to less than Rs 4.9 lakh
>Band III: Rs 5 lakh to less than Rs 9.9 lakh
Band IV: Rs 10 lakh to less than Rs 40.9 lakh
Band V: Rs 50 lakh and above
|Maximum Annuity Purchase Price||No Limit|
Annuity Installment Payout Based 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 instalment 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 single pay annuity designed to provide regular guaranteed income over your lifetime. The plan offers the following features:
A wide range of annuity options for individual customization:
The pension payout commences immediately upon the single premium payment without any time lag.
The payout commences immediately, and the purchase price is returned to the dependent on leaving a legacy.
The Pension payout commences after a defined period, and the dependent receives the purchase price as a legacy.
Single or Joint Life option available.
Receive payout in monthly, quarterly, half-yearly or annual frequency.
Option to choose Return of Purchase Price upon the annuitant’s demise.
The top-up option increases annuity payout.
Eligibility Criteria HDFC Life Pension Guaranteed Plan
The table below shows the eligibility criteria of the HDFC Life pension guaranteed plan:
|Entry Age||Immediate Life Annuity||30 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 1000||No Limit|
|Purchase Price||Immediate Life Annuity||Rs 42076||No Limit|
|Immediate Life Annuity with Return of Purchase Price||Rs 160261|
|Deferred Life Annuity with Return of Purchase Price||Rs 76046|
|Premium Payment Term||Single Pay|
Financial independence after retirement is in jeopardy as the regular income is on the ebb as professional life comes to an end. The void is filled by HDFC Life Annuity Plans shouldering the mantle to provide a regular income stream tailored to individual preferences.
The various options and the HDFC Life annuity rates are ideal for supplementing the income resources after you retire. Thus, the rate varies upon the price band of your annuity purchase.