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Financial independence with a secure and regular stream of income in the golden years is the goal for every individual for their retirement. Therefore, systematically planning for life after retirement will ensure you continue to live worry free. HDFC Life Systematic Retirement Plan is an Individual/ Group, Non-Participating, Non linked, Savings Deferred Annuity Plan which allows you to gradually build your retirement corpus with the ­flexibility to choose the deferment period so that you can enjoy and live a comfortable lifestyle.

All you need to know

FEATURES

Benefits

Death Benefit

a) On death during Deferment Period

i) The death benefit shall be the higher of

  • Total Premiums paid accumulated at compounding interest of 6% p.a. till the date of death
  • 105% of Total Premiums paid up to the date of death. The policy shall terminate on payment of death benefit and all other benefits shall cease.

b) On death after Deferment Period

i) For the Life Annuity option, no death benefit shall be payable

ii) For the Life Annuity with Return of Premiums option, the death benefit shall be the higher of

  • Total Premiums paid accumulated at compounding interest of 6% p.a. till end of deferment period less Total Annuity Payouts made till date of death
  • 105% of all Total Premiums paid up to date of death. Upon payment of the death benefit, the policy shall terminate and all other benefits shall cease

Features

HDFC Life Systematic Retirement Plan Offers:

  1. Option to defer annuity pay-outs by choosing the deferment period
  2. Guaranteed* income for whole of life by paying premiums for a limited payment term
  3. Option to receive annuity monthly, quarterly, half yearly or yearly
  4. Option of Return of Total Premiums paid on death

Eligibility

Particulars Minimum Maximum
Entry Age 45 years 75 years1
Annuity Payout Per installment Annual: ₹ 12,000;
Half Yearly: ₹6,000;
Quarterly: ₹ 3,000; Monthly: ₹1,000		 No limit. Acceptance of any case is subject to Board Approved Underwriting Policy (BAUP).
Premium2 Per installment Annual: ₹ 30,000;
Half Yearly: ₹15,300;
Quarterly ₹ 7,800;
Monthly: ₹2,625		 No limit. Acceptance of any case is subject to Board Approved Underwriting Policy (BAUP).
Group3 Size (For Group Policies) 10 No limit. Acceptance of any case is subject to Board Approved Underwriting Policy (BAUP).
Premium Payment Term 5 years 15 years
Deferment Period Premium Payment Term chosen 15 years
Policy Term Whole Life  

 

The plan can also be purchased online. The minimum annuity payouts shall be in accordance with IRDAI (Minimum limits for Annuities and other Benefits) Regulations, 2015, as amended from time to time

All ages are calculated as at last birthday. Risk cover starts from date of commencement of policy for all lives.

1) Subject to annuity commencing at a maximum age of 80
2) Premium amounts are exclusive of taxes and levies as applicable
3) The plan will be available to employer-employee groups on group platform

View Commission-related information

Disclaimer

  • *Provided all the due premiums are paid and the policy is in force. Tax benefits are subject to changes in tax laws. Please consult your Tax consultant to know the Tax Benefits available to you. HDFC Life Insurance Company Limited (“HDFC Life”). CIN: L65110MH2000PLC128245. IRDAI Registration No. 101. Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400 011. Email: service@hdfclife.com, Tel. No: 1860 267 9999 (Mon-Sat 10 am to 7 pm) Local charges apply. Do NOT prefix any country code. e.g. +91 or 00. Website: www.hdfclife.com The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. HDFC Life Insurance Company Limited. Insurance is subject to matter of solicitation. For more details on risk factors, terms and conditions and exclusions please read the product brochure before conclusion of sale. ​​​​​​​
  • HDFC Life Systematic Retirement Plan (UIN:101N143V03) An Individual/ Group, Non-Participating, Non linked, Savings Deferred Annuity Plan. Life Insurance Coverage is available in this product. HDFC Bank Limited is the Corporate Agent (IRDAI Reg. No. CA0010) of HDFC Life. Life insurance policies are underwritten by HDFC Life. Purchase of life insurance policy is