Image credit: https://www.hdfclife.com |
HDFC Life Pension Guaranteed Plan | Features & Benefits
HDFC Life, one of India’s
leading private insurers, has launched HDFC Life Pension Guaranteed Plan. HDFC
Life Pension Guaranteed Plan is claimed to be the only one of its kind immediate
and deferred annuity plan.
It offers guaranteed rates for a lifetime at the time of the purchase of the plan, on a deferred annuity plan. In this post, let us take a look at HDFC Life Pension Guaranteed Plan features and benefits.
It offers guaranteed rates for a lifetime at the time of the purchase of the plan, on a deferred annuity plan. In this post, let us take a look at HDFC Life Pension Guaranteed Plan features and benefits.
HDFC Life Pension Guaranteed Plan
HDFC Life Pension Guaranteed
Plan is a non-participating and a non linked annuity plan. It is a single
premium annuity plan which provides a regular guaranteed annuity for lifetime.
It assures a guaranteed return of pension for lifetime, the rate of which is decided at the time of the purchase itself.
It assures a guaranteed return of pension for lifetime, the rate of which is decided at the time of the purchase itself.
HDFC Life Pension Guaranteed Plan – Features
1. Various annuity options
to cater your needs.
2. You can purchase the plan
on a Single or Joint Life basis.
3. Choose from immediate or
deferred annuity option.
4. Choose to receive it
monthly, quarterly, half-yearly or yearly.
5. The option of Return of
Purchase Price on death.
6. Banks or financial
institutions can purchase immediate annuities for homeowners.
7. You can increase your annuity
payouts through Top Up option.
Also read: LIC Jeevan Akshay VI Pension Plan | Pay-Once-Enjoy-Forever
Also read: LIC Jeevan Akshay VI Pension Plan | Pay-Once-Enjoy-Forever
Annuity Options under HDFC Life Pension Guaranteed Plan
You can choose from the following
annuity options under HDFC Life Pension
Guaranteed Plan at the time of purchase of the plan. However, plan
option once selected cannot be changed.
1. Immediate Life Annuity
2. Immediate Life Annuity
with Return of Purchase Price
3. Deferred Life Annuity
with Return of Purchase Price
HDFC Life Pension Guaranteed Plan – Benefits
Following benefits are
available under different plan options
1. Immediate Life Annuity:
This option is available on both single life and joint life basis.
a) Single Life: The annuity
will be payable for as long as the annuitant is alive.
b) Joint Life: The annuity
will be payable for as long as either of the primary or the secondary
annuitant is alive.
2. Immediate Life Annuity
with Return of Purchase Price: This option is available on both single life and
joint life basis.
a) Single Life: The annuity
will be payable for as long as the annuitant is alive. On the death of the
annuitant, the death benefit is payable as a lump sum to the nominee.
b) Joint Life: The annuity
will be payable for as long as either of the primary or the secondary
annuitant is alive. The death benefit is payable as a lump sum to the nominee,
on later of the deaths of the two annuitants.
3. Deferred Life Annuity
with Return of Purchase Price: Deferment Period may be between 1 to 10 years,
as chosen by you at the time of purchase. This option is also available on both
single life and joint life basis.
a) Single Life: The annuity
will be payable for as long as the annuitant is alive. On the death of the
annuitant, the death benefit is payable as a lump sum to the nominee.
b) Joint Life: The annuity
will be payable for as long as either of the primary or the secondary annuitant
is alive. The death benefit is payable as a lump sum to the nominee, on later
of the deaths of the two annuitants.
Death Benefit under HDFC Life Pension Guaranteed Plan
The Death Benefit will vary
depending on the annuity option chosen by you. See the Death Benefits for
different annuity options in the table below.
How to get your Annuity under HDFC Life Pension Guaranteed Plan?
There are the four
steps to get your annuity under this plan
1. Choose the purchase price
or choose your annuity amount.
2. Select your annuity
option.
3. Choose to receive your
annuity monthly, quarterly, half-yearly, or yearly.
4. Receive your annuity via direct
credit to your bank account.
Also read: How to apply for loan against LIC policy online?
Also read: LIC E-Term Plan | Features & Benefits
Also read: LIC Cancer Cover Policy | Features & Benefits
Also read: Why do you need life insurance?
If you liked this article, share it with your friends and colleagues through social media. Your opinion matters, please share your comments.
HDFC Life Pension Guaranteed Plan | Benefits & Features
Also read: How to apply for loan against LIC policy online?
Also read: LIC E-Term Plan | Features & Benefits
Also read: LIC Cancer Cover Policy | Features & Benefits
Also read: Why do you need life insurance?
If you liked this article, share it with your friends and colleagues through social media. Your opinion matters, please share your comments.
HDFC Life Pension Guaranteed Plan | Benefits & Features
No comments:
Post a Comment