MyInsuranceClub
menu

HDFC Life Personal Pension Plus Plan

HDFC Life Personal Pension Plus Plan

HDFC Life Personal Pension Plus Plan is a Regular Premium Deferred Annuity Plan. It is a Traditional Insurance Plan with Bonus facility.

no-claim-bonus-overview icon
Regular Premium Deferred Annuity plan
tax-benefit-overview icon
Assured Benefit
ambulance-cover-overview icon
Death Benefit
Compare this plan with other Investment Plans
By clicking “Show Returns”, I authorize MyInsuranceClub to Call/Message & agree to Terms of Use

Key Features

key-feature-header-icon
Regular Premium Deferred Annuity plan

It is a Regular Premium Deferred Annuity plan

The policy provides a higher timeframes of 10 to 40 years
In case of death of the Annuitant within the Policy Tenure, the nominee will receive 101% of Total Premiums paid till date + Bonuses
Assured Benefit

When the policy matures, the higher of Sum Assured on Vesting plus accrued Bonuses or Assured Benefit of 101% of all regular Premium Paid. On vesting, the Annuitant has the following options:

  • Withdraw 1/3rd of the Vesting Benefit as Tax Free under section 10(10)A and utilize the remaining to purchase annuity from HDFC Life
  • Use the entire amount to purchase annuity from HDFC Life
  • Utilize the entire amount to purchase a Single Premium Deferred Pension Plan from HDFC Life

Benefits

policy-benefits-header-icon
Death Benefit
In case of death of the Annuitant within the Policy Tenure, the nominee will receive 101% of Total Premiums paid till date + Bonuses, subject to a minimum of 105% of total premiums paid till date as Death Benefit which can be taken by the nominee as a lumpsum or as annuity.
Vesting Benefit
When the policy matures, the higher of:
  • Sum Assured on Vesting plus accrued Bonuses or
  • Assured Benefit of 101% of all regular Premium Paid
Is paid to the policyholder as Annuity
On Vesting, the Annuitant has the following options:
  • Withdraw 1/3rd of the Vesting Benefit as Tax Free under section 10(10)A and utilize the remaining to purchase annuity from HDFC Life
  • Use the entire amount to purchase annuity from HDFC Life
  • Utilize the entire amount to purchase a Single Premium Deferred Pension Plan from HDFC Life
Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and 1/3rd of the Maturity proceeds are tax free under section 10(10)A subject to fulfilment of terms and conditions

Riders

There are No Additional Riders in this plan

How it works

tab-how-it-works-header-icon
In this plan, premium needs to be paid for the entire policy tenure as chosen between 10 to 40 years.  This plan accrues simple Reversionary Bonus, Interim Bonus as well as Terminal Bonus, which is payable on maturity or on earlier death.
When the policy matures, the higher of Sum Assured on Vesting plus accrued Bonuses or Assured Benefit of 101% of all regular Premium Paid Is paid to the policyholder as Annuity
On Vesting, the Annuitant has the following options:
  • Withdraw 1/3rd of the Vesting Benefit as Tax Free under section 10(10)A and utilize the remaining to purchase annuity from HDFC Life
  • Use the entire amount to purchase annuity from HDFC Life
  • Utilize the entire amount to purchase a Single Premium Deferred Pension Plan from HDFC Life

Eligibility

tab-eligibility-header-icon
Minimum
Maximum
Sum Assured on Vesting (in Rs.)
204841
No Limit
Policy Term (in years)
10
40
Premium Payment Term (in years)
Equal to Policy Tenure
Entry Age of Annuitant (in years)
18
65
Age at Vesting / Maturity (in years)
55
75
Premium (in Rs.)
24,000 p.a.
No Limit
Payment modes
Yearly, Half-Yearly, Quarterly and Monthly

FAQs

tab-faqs-header-icon
angle down iconWhat if I stop paying the premium?

The policy will lapse if the premium stops. The policy becomes paid up if at least 3 years’ premiums have been paid and continues with Reduced Benefit. The policy can however be revived within 2 years from the due date of the first unpaid premium.

angle down iconWhat if I want to surrender the policy?

If least 3 years’ premiums have been paid the policy acquires Surrender Value which depends on the Policy Term.

angle down iconWhat if I want a loan against your policy?

There is Loan available under this plan.