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About HDFC Life Personal Pension Plan

  • Bonus Benefits
  • Participating plan offering the advantage of accrued bonuses.
  • Flexible-Premium Payments
  • No limit on the maximum premium amount you can invest.
  • Long-Term Investment Horizons
  • Choose investment periods ranging from 10 to 40 years.,/span>
  • Assured Death Benefit
  • 101% of all premiums (excluding taxes) paid to date, plus accrued bonuses.
  • Minimum death benefit guaranteed at 105% of premiums paid.
  • Tax Benefits
  • Eligible for tax deductions under Section 80CCC of the Income Tax Act, 1961.
  • Mandatory Annuity
  • A significant portion of policy benefits will be taken as an annuity, and not available a lump sum.
  • Click here to download a brochure.

Key Features of HDFC Life Personal Pension Plus

Commission for Life Insurance

  • Here are the specifics of the commission the bank made as a company partner for the life insurance marketing business:
Category First Year Commission 2nd Year Renewal Commission Single Premium Commission
  Min Max Min Max Min Max
Pension 15% 35% 1% 3% 2% 2%
Protection 12% 35% 1% 5% 2% 7.50%
Savings & Investment 15% 35% 1% 7.50% 2% 2%
Health 15% 35% 1% 5.00% - -

Please note, commission payable for group products is 5%

Note: Keep in mind that the commission charge is different for each type of product, contract, premium amount, and premium payment term.

  • *For Group Products the maximum commission payable depends, entailed a predetermined ceiling amount based on the guidelines defined by the Insurance Regulatory and Development Authority of India (IRDAI) from time to time.
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Renewal Details

  • In order to continue availing benefits from your previous policy, renew your HDFC Life Personal Pension Plus policy. You can renew your policy through MobileBanking and NetBanking. 

You just need to register once under BillPay 
Click here to renew your HDFC Life Personal Pension Plus policy.

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Important Disclaimer

  • HDFC Standard Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011: - The policy holder may avail of benefits as provided under the tax laws. The premium would be subject to Service tax & education cess as per applicable tax rates. Tax laws are subject to change on the basis of the amendments made from time to time.
  • HDFC Standard Life Insurance Company Limited. In Partnership with Standard Life Insurance is the subject matter of the solicitation. For more details on risk factors, terms and conditions and exclusions please read the product brochure before conclusion of sale. HDFC Life ClassicAssure Plus Form No: P501-113 & UIN: 101N089V01 is a traditional insurance product offered by HDFC Life. This is a participating plan. The name of the company, name of the brand and the name of the product does not indicate the quality of the plan. HDFC Standard Life Insurance Co.Ltd. Reg.No.101
  • HDFC Bank Limited (" HDFC Bank") is a corporate insurance agent of HDFC Standard Life Insurance Company Limited (" HDFC Life") under Corporate Agent's license no.933982 issued by Insurance Regulatory & Development Authority of India and does not underwrite the risk or acts as an insurer. The insurance is underwritten by HDFC Life. This policy is issued to you by HDFC Life and is subject to the terms and conditions governing such policy. The contract of insurance is between HDFC Life and the insured only, and not between HDFC Bank and the insured. HDFC Bank acts merely as the corporate agent of HDFC Life and there is no direct or indirect linkage between the provisions of the banking services offered by HDFC Bank. Your participation in this product is purely on a voluntary basis. HDFC Bank is not responsible or liable for the performance of any obligations under the insurance contract.
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Most Important Terms & Conditions

  • *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.  
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More About HDFC Life Personal Pension Plus Plan

The HDFC Life Personal Pension Plus plan offers the following features:

Regular Premium Payments

Choose between annual, half-yearly, quarterly, or monthly payments.

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Guaranteed Additions

Earn 3% of the sum assured as guaranteed additions for the first five years.

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Bonuses

Potential for reversionary and terminal bonuses to enhance retirement corpus.

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Maturity Benefit

On vesting, receive the higher of the sum assured plus bonuses or 101% of total premiums paid.

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Death Benefit

In case of policyholder's demise, the nominee receives the greater of the sum assured plus bonuses or 105% of total premiums paid.

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Tax Benefits

Enjoy tax deductions under Section 80C and tax-free maturity benefits under Section 10(10D) of the Income Tax Act.

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The benefits of the HDFC Life Personal Pension Plus Plan are:

Maturity Benefit

Sum assured plus accrued bonuses at vesting.

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Death Benefit

Higher of total premiums accumulated at 6% p.a. or sum assured plus bonuses.

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Bonuses

Annual reversionary and terminal bonuses

Commutation Option

Up to one-third lump sum tax-free; the rest for annuity.

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Tax Benefits

Deductions under Section 80C and benefits under Section 10(10D).

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To apply for the HDFC Life Personal Pension Plus Plan:

1. Visit the Website: Go to the HDFC Life official website.
2. Find the Plan: The Personal Pension Plus Plan is under "Retirement Plans".
3. Get Quote: Use the online calculator to get a personalised premium quote.
4. Apply: Complete the online application by providing your personal and financial information.
5. Document Submission: - Upload the documents as requested, e.g., age, ID, and address proof.
6. Choose a payment method and pay the initial premium. If instructed by HDFC Life, undergo a medical exam.
7. Confirmation: Receive approved policy and documents.

 

Visit an HDFC Life branch or call the customer care helpline for more assistance.

 

Frequently Asked Questions

HDFC Life Personal Pension Plus is a retirement-oriented insurance plan that offers a combination of insurance and investment benefits. It is designed to help individuals build a corpus for their post-retirement life, ensuring financial stability and regular income after retirement. The plan aims to provide a guaranteed return on investments, along with additional bonuses declared by the company, enhancing the policyholder's savings over the long term.

Withdrawing money from HDFC Life Personal Pension Plus is subject to specific terms and conditions:

  • Partial withdrawals are usually prohibited in traditional pension plans like HDFC Life Personal Pension Plus during the vesting period.
  • If the policyholder surrenders the policy before the vesting age, a surrender value may be paid, usually less than the premiums paid. This value is determined based on the policy's terms and conditions.
  • During the vesting period,  the policyholder  can buy an annuity to receive regular retirement income. One-third of the corpus can be commuted (withdrawn as a lump sum) and the rest used to buy an annuity.

To be eligible for HDFC Life Personal Pension Plus, individuals must meet certain criteria set by the company:

  • The minimum age to apply is 18, and the maximum is 65.
  • Plan and premium payment methods determine the policy term, which can be 10 to 40 years.
  • The premium payment term depends on the policy term and payment frequency (regular, single, or limited).