HDFC Life Smart Pension Plan

Plan Benefits

• Vesting Benefit (Maturity): On the vesting date, you will receive the Fund Value. You can use the proceeds to: 

  • Commute up to 60% as a tax-free lump sum, as per the prevailing tax laws. 

  • Use the remaining amount to purchase an annuity (pension) plan from HDFC Life. 

  • Extend the vesting age (if below 60 years) or utilise the proceeds to purchase a single premium deferred annuity. 

• Death Benefit: In the unfortunate event of the Life Assured's demise during the policy term, the nominee will receive the higher of: 

  • The Total Fund Value, or 

  • 105% of the total premiums paid, including top-up premiums. 

• Loyalty Additions: Eligible policies receive Loyalty Additions from the 11th policy year onwards, helping enhance the fund value over the long term.

• Flexibility of Investment: Choose from three investment strategies::

  • Self-Managed Strategy: Select your preferred fund allocation. 

  • Systematic Transfer Strategy (STS): Helps manage investments during market volatility. 

  • Automatic Asset Rebalancing: Automatically maintains your preferred debt-equity allocation. 

 

• Top-up Premiums: Invest additional amounts over and above your regular premiums to help build a larger retirement corpus.

• Fund Switching: Switch your accumulated funds between the available fund options to align your investments with changing market conditions.

• Alteration of Premium Payment Term (PPT) / Vesting Date: Increase or decrease your Premium Payment Term or postpone your Vesting Date, subject to the policy terms and conditions. 

The HDFC Life Smart Pension Plan is available to individuals who meet the following age criteria:
 

Plan Details

Instalment Premium (Minimum)

• Annual: ₹30,000

• Half-Yearly: ₹15,000

• Monthly: ₹3,000

Note: For the 5-Pay option, the minimum annual premium is ₹1,00,000.

Limited Pay (Premium Payment Term)

Available Premium Payment Terms range from 5 to 30 years. You can also opt for the Single Pay option.

Sum Assured on Death

The death benefit payable is 105% of the total premiums paid, including Top-up Premiums, up to the date of death.

1. Loyalty Additions will be added to the fund starting from the 10th policy anniversary for policies other than Single Premium policies with an annualised premium of at least ₹1,00,000, and for all Single Premium policies.

2. For more details on the applicable charges, please refer to the Product Brochure.

The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. Policyholders will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products, either partially or completely, until the end of the fifth policy year.

For more details on the risk factors, associated terms and conditions, and exclusions, please read the Sales Brochure carefully before concluding the sale.

HDFC Life Smart Pension Plan (UIN: 101L164V08) is the name of a Unit Linked, Non-Participating Individual Pension Plan.

Unit Linked Insurance products are different from traditional life insurance products and are subject to investment risks. The premium paid in Unit Linked Insurance policies is subject to investment risks associated with the capital markets, and the NAV of the units may go up or down based on the performance of the funds and other factors influencing the capital markets. The insured is responsible for his/her investment decisions.

HDFC Life Insurance Company Limited is the name of the insurance company, HDFC Life is the brand name, and HDFC Life Smart Pension Plan (UIN: 101L164V08) is the name of the Unit Linked Insurance contract. The name of the company, the brand, and the contract does not in any way indicate the quality of the contract, its future prospects, or returns.

Please understand the associated risks and applicable charges by referring to the policy document, consulting your insurance agent or intermediary. The various funds offered under this contract are merely the names of the funds and do not in any way indicate the quality of these plans, their future prospects, or returns.