HDFC Life Value Notes Life Freedom Index, a survey conducted earlier this year to understand the current state of financial planning in urban India, revealed that consumers are skeptical about the adequacy of their financial plans to meet their desired standard of living throughout their lifetime. In fact, only 13% of youth and women are extremely confident that they have adequate retirement planning in place. Though the Wisdom investor segment (45 years and above) scored better in the level of confidence, their percentage stood at only 24%. This reflects that planning for retirement among all customer segments needs significant improvement.

Both the plans offer assured benefit on death and vesting. HDFC Life Pension Super Plus offers assured death benefit of total premiums paid to date accumulated at a guaranteed rate of 6% per annum and an assured vesting benefit of 101% of total premiums paid. HDFC Life Single Premium Pension Super offers assured benefit of 101% of total premiums paid on death and vesting.

HDFC Life has also launched a traditional annuity plan, HDFC Life New Immediate Annuity Plan. As per IRDA's new guideline, customers need to purchase immediate annuity from the proceeds of the Pension Plan from the same company.

HDFC Life Pension Super Plus:

Offers:

• Benefit of Assured Vesting Value
• Flexibility to plan your vesting (retirement) date
• Additional allocation of premium from 11th year onwards

Step 1
Plan your vesting (retirement) age
Step 2
Choose the regular premium you wish to invest, based on your retirement needs

Other details:

Policy terms: 10/15/20 years

Entry age:

• Minimum is 35 years
• Maximum is 65 years

Age at vesting:

• Minimum is 55 years
• Maximum is 75 years

Premium details:

Frequency: Minimum

Regular Premium: Annual: Rs. 24,000 per year Half-Yearly: Rs 12,000 per half-year Quarterly: Rs 6,000 per quarter Monthly: Rs 2,000 per month.

Top up Premium: Rs 10,000

Frequency: Max

Regular Premium: No Limit

Top up Premium:Total top-up premiums paid into the policy can be up to a maximum of the total regular premiums paid till date.

HDFC Life Single Premium Pension Super:

Offers :

• Benefit of Assured Vesting Value
• Opportunity to build corpus for post retirement income

Step 1
Determine your eligibility
Step 2
Choose the single premium you wish to invest

Other Details:

Policy terms: 10 years
Entry age:

• Minimum is 40 years
• Maximum is 75 years

Age at vesting:

• Minimum is 50 years
• Maximum is 85 years

Premium details:

Frequency: Minimum

Single Premium: Rs 25,000

Top up Premium: RS 10,000

Frequency: Max

Regular Premium:No Limit

Top up Premium: No limit

GoodReturns.in