HDFC Life Annuity Plans

HDFC Life Annuity Plans offer financial security and stability for your retirement years. These investment plans are designed to provide a steady income stream and ensure a comfortable lifestyle by converting your savings into regular payments.

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  • Multiple Annuity Options

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About HDFC Life Annuity Plans

HDFC Life offers annuity plans that provide a steady income stream for you during your retirement years. These investment plans allow you to invest a lump sum amount and receive regular payouts for the rest of your lives or for a specified period.

These annuity plans are designed to help you secure your financial future and maintain a comfortable lifestyle after retirement. HDFC Life offers a variety of annuity options to suit different needs and preferences, such as immediate annuities, deferred annuities, and joint-life annuities.

These plans are aimed at helping you secure a reliable income stream during your retirement years, ensuring financial stability and peace of mind.

Type of HDFC Life Annuity Plans

HDFC Life offers the following types of pension plans in India:

HDFC Life Annuity Plan Entry Age Deferment Period Premium Payment Term (PPT) Policy Term (PT) Min. Annual Premium (in Rs.) Min. Annual Annuity Payouts
HDFC Life Systematic Retirement Plan 45 – 75 years Chosen PPT to 15 years 5 – 15 years Whole Life  Rs. 30,000 Rs. 12,000
HDFC Life Smart Pension Plus Single Pay: 18 – 100 years;
Limited Pay: 45 – 75 years
Age < 30 years: 1 – 10 years;
Age ≥ 30 years: 1 – 15 years.
Single Pay; Limited Pay: 5 – 15 years Whole Life  Single: Rs. 50,000;
Limited: Rs. 30,000
Rs. 12,000
HDFC Life New Immediate Annuity Plan 18 – 85 years Immediate Annuity Single Pay Whole Life  Single: Rs. 50,000;
Limited: Rs. 30,000
Rs. 10,000
HDFC Life Pension Guaranteed Plan 30 – 85 years 1 – 10 years Single Pay; Limited Whole Life  Rs. 42,076 Rs. 12,000
HDFC Life Saral Pension 40 – 80 years Immediate Annuity Single; Limited Whole Life  Rs. 1,88,383 Rs. 12,000
  1. HDFC Life Systematic Retirement Plan

    HDFC Life Systematic Retirement Plan is an individual/group, non-linked, non-participating, savings deferred annuity plan offered by HDFC Life Insurance Company. This pension plan is designed to help you build a retirement corpus by saving systematically over a period of time. The plan offers a guaranteed income for life after you retire.

    Features of HDFC Life Systematic Retirement Plan:

    • Lock in a guaranteed annuity rate from the start of your HDFC plan

    • Choose to delay annuity payouts by selecting a deferment period

    • Secure income for life by paying premiums for a set term

    • Decide how often you want to receive your annuity: monthly, quarterly, half-yearly, or yearly

    • Have the option of receiving a return of all premiums paid upon death

    • The premiums paid towards the plan are eligible for tax deduction under section 80C of the Income Tax Act, 1961

  2. HDFC Life Smart Pension Plus

    HDFC Life Smart Pension Plus is a traditional, non-linked, non-participating individual/group annuity plan. You can tailor the plan to suit your preferences, with options for immediate or deferred payouts. Plus, you can choose the frequency of payouts—monthly, quarterly, half-yearly, or yearly.

    Features of HDFC Life Smart Pension Plus:

    • Enjoy guaranteed income for life by paying premiums for a single or limited time.

    • Choose from a single plan that covers both single and joint life.

    • Immediate or deferred annuity options are available in a single plan.

    • Flexible payout frequencies: monthly, quarterly, half-yearly, or yearly.

    • Four annuity options to suit your needs:

      • Life Annuity

      • Life annuity with a return of a percentage of total premiums paid

      • Life annuity with early return

      • Increasing annuity

    • Decide when to start receiving annuity payouts by selecting a deferment period.

    • You can avail of tax benefits under Section 80C on the annual premiums paid.

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  3. HDFC Life New Immediate Annuity Plan

    The HDFC Life New Immediate Annuity Plan is a single-premium annuity plan designed to provide you with a regular guaranteed  income stream immediately starting next month. It's a traditional, non-linked insurance product, meaning the returns are not based on the market performance

    Features of HDFC Life New Immediate Annuity Plan:

    • Diverse annuity choices tailored to suit you

    • Annuity payments for life, extending to your partner's lifetime

    • Flexibility to receive annuity payments monthly, quarterly, half-yearly, or yearly

    • Return of Purchase Price option in case of death or critical illness

    • Annuities ensuring commitments to homeowners in reverse mortgage schemes

    • Guaranteed lifelong income with annuity purchases

    • Premiums paid are eligible for tax deduction under section 80C of the Income Tax Act

  4. HDFC Life Pension Guaranteed Plan

    HDFC Life Pension Guaranteed Plan is a one-time payment annuity offering that ensures you receive a fixed income for life. It is a good investment option for those who are looking for a secure retirement income stream.

    Features of HDFC Life Pension Guaranteed Plan:

    • Various annuity options are available to suit your needs

    • Choose between a Single or Joint Life basis for the plan

    • Decide between immediate or deferred annuity

    • Select your preferred frequency of annuity payments: monthly, quarterly, half-yearly, or yearly

    • Opt for Return of Purchase Price on death

    • Banks/financial institutions can purchase immediate annuities for homeowners under reverse mortgage schemes.

    • Increase your Annuity Payouts with the Top Up option

  5. HDFC Life Saral Pension

    HDFC Life Saral Pension is a single premium, non-linked, non-participating individual immediate annuity plan offered by HDFC Life. It is designed to provide you with a guaranteed regular income for the rest of your life,  helping you meet your financial needs after retirement.

    Features of HDFC Life Saral Pension:

    • Choose between Single or Joint Life annuity options tailored to your requirements

    • Receive annuity payments as long as you or your partner are alive

    • Flexible payment frequencies: monthly, quarterly, half-yearly, or yearly

    • Option for Return of Purchase Price upon death

    • Surrender value available upon diagnosis of critical illness

    • Enjoy a guaranteed income for life with annuity purchases

    • No medical examination is required

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

Steps to Apply for HDFC Life Annuity Plans at Policybazaar

  • Step 1: Decide on the amount you want to invest in HDFC Annuity Plans or the amount of annuity you want to receive.

  • Step 2: Select the annuity option that suits your needs.

  • Step 3: Pick the frequency of your annuity payouts: monthly, quarterly, half-yearly, or yearly.

  • Step 4: Share your personal information along with your partner's details if applicable.

  • Step 5: Make the payment and start receiving your annuity payouts directly into your bank account.

The Final Words

HDFC Life Annuity Plans offer a secure and reliable means of ensuring a steady income stream during retirement years. With flexible options tailored to your needs and a reputation for financial stability, these plans provide peace of mind and financial security for the future.

FAQs

  • What is the annuity plan in HDFC Life?

    An annuity plan from HDFC Life is a retirement product that provides you with a regular income stream after a certain age. You invest a lump sum or pay premiums over time, and upon maturity, you receive guaranteed payouts for life (or a chosen period).
  • What is an HDFC life annuity with a 5% escalation?

    HDFC Life offers annuity plans with an escalation benefit. This means your regular income payments increase by a fixed percentage (like 5%) every year, helping you maintain purchasing power in the face of inflation.
  • What are the benefits of HDFC Life Annuity Plans?

    The key benefits of HDFC annuity plans are listed below:
    • Guaranteed income for life: Provides financial security during retirement.

    • Multiple payout options: Choose an income stream that suits your needs.

    • Tax benefits: Premiums paid may qualify for tax deductions under Section 80C of the Income Tax Act.

    • Security: HDFC Life is a reputable insurance company.

  • Which is the best annuity plan in India?

    The top 5 well-regarded annuity plans offered by reputable insurers in India are as follows:

*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

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

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