HDFC Life Guaranteed Pension Plan

On death of the life assured, we would pay to the nominee the Assured Death Benefit of total premiums paid1 to date accumulated at a guaranteed rate of 6% per annum compounded annually. The minimum level of death benefit at all times will be 105% of the premiums paid. Your nominee has an option to utilise the death benefits, fully or partly, for purchasing an immediate annuity from us. However, the nominee or beneficiary shall be given an option to purchase annuity from any other insurer at the then prevailing annuity rate to the extent of percentage, stipulated by the Authority, currently 50%, of the proceeds of the policy net of commutation. Alternatively, your nominee can withdraw the entire death benefit as a lump sum.

Please note the guaranteed rate of 6% p.a. on the premiums paid to date is applicable only for the purpose of calculating death benefit and not for vesting benefit.

¹ Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

On survival till the vesting date and on full payment of premiums due throughout the premium paying term, you will receive sum of

- Sum Assured on vesting
- Guaranteed Additions
- Vesting Addition

Regulation mandates how this Vesting Benefit will be payable to you. Please refer to 'Product Brochure' for more details.

Yes, Tax Benefits may be available as per prevailing tax laws. You are requested to consult your tax advisor.​​​​​​​