Pension Plans

What's in store for you

Pension Plans

More About Pension Plans

Some of the features of HDFC Bank Life Insurance Retirement Plan are:

Wide range of annuity options.

Choose a single or joint life basis plan.

Immediate or deferred annuity.

Flexible annuity payout frequency.

Option for Return of Purchase Price on death.

The key benefits of Life Insurance Pension Schemes are:

Ensures a regular income stream post-retirement, providing stability.

Tax deductions on premiums paid and tax-free returns on maturity or death benefits.

Options to choose between immediate or deferred annuities and single or joint life coverage.

Opportunity to grow savings with interest or market-linked returns.

Protects against market volatility and ensures a guaranteed income for life.

The documents required for Life Insurance Pension Plans may differ from one plan to another. However, the general documents required may include:

Age, ID, and address proof documents like PAN, Aadhaar, Driver’s licence, etc.

Income proof documents, including salary slips and bank statements

Proof of medical history

*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.

Frequently Asked Questions

You should ideally start planning for retirement as early as possible to benefit from compounding interest and ensure sufficient savings. The earlier you start, the more time your investments have to grow.

Insurance in retirement planning provides financial security by protecting against unexpected health expenses, ensuring a steady income through annuities or Life Insurance payouts, and safeguarding assets for beneficiaries. It mitigates risks and ensures a stable financial future during retirement years.

Yes, you can change the nominee of your Life Insurance Policy at any time by submitting a written request to your insurance company along with the required documentation and details of the new nominee.