HDFC Life Smart Pension Plus

• Vesting Benefit (Maturity): On the vesting date, you will receive the Fund Value accumulated under the policy. You can choose to:

  • Commute up to 60% of the Fund Value as a tax-free lump sum, subject to the prevailing tax laws.

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

  • Extend the vesting age (if you are below 60 years of age), subject to the policy terms.

  • Use the proceeds to purchase a single premium deferred annuity plan.

• 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: To reward long-term policyholders, Loyalty Additions are credited to the fund value from the 11th policy year onwards, subject to the policy terms and eligibility criteria. These additions help enhance the overall value of your retirement corpus over time.

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

 

Plan Details
 

Premium Payment Term (PPT)

You can choose between Single Pay and Limited Pay options. Under the Limited Pay option, the Premium Payment Term ranges from 5 to 30 years, allowing you to select a payment schedule that best suits your financial planning needs.

Sum Assured on Death

In the unfortunate event of the Life Assured's demise during the policy term, the nominee will receive a Sum Assured on Death equal to 105% of the total premiums paid, including any top-up premiums, up to the date of death, subject to the policy terms and conditions.

• Loyalty Additions are applicable from the 10th policy anniversary for eligible policies. These are available for:

  • Policies (other than Single Premium) with an annualised premium of ₹1,00,000 or more, and

  • All Single Premium policies, subject to the policy terms and conditions.

 

• For detailed information on the applicable charges, please refer to the Product Brochure.

• Unit Linked Insurance Plans (ULIPs) do not offer liquidity during the first five policy years. Partial or complete withdrawals and policy surrender are not permitted until the completion of the five-year lock-in period, in accordance with applicable regulations.

• For complete details on risk factors, policy terms and conditions, charges, and exclusions, please read the Sales Brochure carefully before purchasing the policy.

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

• Unit Linked Life Insurance products are different from traditional life insurance products and are subject to investment risks. The premium paid is invested in market-linked funds, and the Net Asset Value (NAV) of the units may increase or decrease depending on market performance and other factors affecting the capital markets. The policyholder bears the investment risk associated with the chosen funds.

• 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. These names do not indicate the quality of the policy, its future performance, or the returns it may generate.

• Please understand the associated risks, applicable charges, and policy features before investing. You may obtain further information from your insurance advisor, intermediary, policy document, or the Product Brochure.

• The names of the investment funds available under this policy are for identification purposes only and should not be construed as an indication of their quality, future performance, or expected returns.