Home > Life Insurance > Pension Plan > HDFC Standard Life Insurance
hdfc-life-logo

HDFC Standard Life Insurance

  • We help in maximising your retirement corpus
  • Simple and uncomplicated comparisons of all plans
  • Clear features, benefits, and costs for each plan
  • Tax free corpus, maximum returns & right vesting age

HDFC Standard Life Insurance

Overview
HDFC Standard Life Insurance Co. Limited is one of the biggest insurance providers in India and has a network covering 414 branches in the country. There are 11, 200 partner branches throughout the country as well. HDFC Standard Life Insurance Co. Limited is a joint venture between HDFC (Housing Development Finance Corporation) and Standard Life Aberdeen (wholly-owned by Standard Life Assurance Company). There are several products being offered including group and individual insurance plans. There are protection, pension, investment, savings and health plans. The company has two subsidiaries, namely HDFC International Life and Re Company Limited and HDFC Pension Management Company Limited.

HDFC Standard Life Insurance at a glance
  • Wide network with 11,200 branches and 15 bancassurance partners
  • HDFC Life Cancer Care awarded the Finnoviti 2016 Award for innovations in BFSI
  • 97.62% Individual claims settled
  • 18% growth in premium collection in the online space

HDFC Standard Life Insurance Co. Limited Retirement Plans
There are several retirement and pension plans which help in ensuring financial security at the time of retirement. Investments can be made in either a lump sum or with regularly paid premiums. A portion of this corpus may be used for generating regular retirement income. There is the Click 2 Retire plan which is a United Linked Insurance Plan.

Documentation needed to apply for HDFC Standard Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

HDFC Life Pension Plans
  • HDFC Life Click 2 Retire: A unit linked pension plan tailor made to seek maximum returns for the sunset years of life. With HDFC Life Click 2 Retire you can plan your retirement for just Rs 2000 per month and avail tax benefits.
  • HDFC Life Personal Pension Plus: A traditional participating pension plan ideal for individuals who seek to plan for their retirement. The plan offer secure and stable returns for the non working years of life.
  • HDFC Life Guaranteed Pension Plan: Guaranteed additions of 3% of sum assured that get accrued for each completed policy year. The plan further offers a lump sum Vesting Addition payable at vesting.
  • HDFC Life New Immediate Annuity Plan: A non linked traditional annuity plan. The plan offers guaranteed income for as long as you or your partner lives with a wide range of annuity options.
  • HDFC Life Assured Pension Plan – ULIP: A unit linked pension plan that makes use of market linked returns to seek maximum returns for post active working years of life.

1: HDFC Life Click 2 Retire: A pension plan tailor made to make the sunset years of life financially stronger helping you achieve your retirement goals by planning well in advance.

Advantages and Benefits
  • Secure your retirement with Assured Vesting Benefit and also gain from upside in the market
  • Option to start as early as 18 years
  • Lower vesting/maturity age of 45 years
  • Regular, Limited Pay & Single Pay – Options available in one product
Features Description
Entry Age 18-65 years
Vesting Age 45-75 years
Policy term Single Pay: 10,15 to 35 years
8 Pay: 10,15 to 35 years
10 Pay: 10,15 to 35 years
15 Pay: 15 to 35 years
Premium payment term Single Pay, 8 Pay, 10 Pay, 15 Pay
Minimum Premium Rs. 24,000 p.a
Maximum Premium No Limit

2: HDFC Life Personal Pension Plus: A tailor made retirement plan offering secure and stable returns on your invested corpus for post retirement income.

Advantages and Benefits
  • At vesting (on maturity), choose from a range of annuity options from us and get guaranteed income for life
  • Option to commute up to 1/3rd of the vesting benefit tax free
  • The minimum level of death benefit at all times is 105% of the premiums paid
Features Description
Entry Age 18-65 years
Vesting Age 55-75 years
Policy term 10-40 years
Premium payment term Equal to policy term
Minimum Premium Rs. 24,000 p.a
Maximum Premium No Limit

3: HDFC Life Guaranteed Pension Plan: HDFC Life Guaranteed Pension Plan offers guaranteed Additions of 3% of sum assured get accrued for each completed policy year. The plan can be taken only on a single life basis.

Advantages and Benefits
  • Limited premium paying term with assured benefit on death or at vesting
  • On vesting, purchase an annuity from us and enjoy lifetime income- post retirement
  • Get a lump sum vesting benefit which is a sum of sum assured on vesting, Guaranteed Additions as well as Vesting Addition.
Features Description
Entry Age 35-65 years
Vesting Age 55-75 years
Policy term 10-20 years
Premium payment term 5,7 and 10 years
Minimum Premium Rs. 24,000 p.a
Maximum Premium No Limit

4: HDFC Life New Immediate Annuity Plan: This plan offers guaranteed income for life as a non linked traditional annuity plan with various annuity options to choose from as per your preference.

Advantages and Benefits
  • Guaranteed income for as long as you/your partner lives at a frequency of your choice.
  • Benefit from higher annuity rates at investment of Rs 2, 50,000 or higher.
  • Return of Purchase Price option on death and critical illness.
Features Description
Entry Age 30-85 years
Yearly Annuity Payout Min: Rs. 10,000- Max: No Limit
Half yearly Annuity Payout Min: Rs. 5,000- Max: No Limit
Quarterly Annuity Payout Min: Rs. 3,000- Max: No Limit
Monthly Annuity Payout Min: Rs. 1000- Max: No Limit

5: HDFC Life Assured Pension Plan – ULIP: A unit linked pension plan that is tailor made to build a fund which is at least 20 times your anticipated expenses in the last year before your retirement.

Advantages and Benefits
  • Loyalty additions in the form of Pension Multipliers every alternate year, starting in the 11th year
  • Option to start as early as 18 years
  • Lower vesting/maturity age of 45 years
  • Limited Pay & Single Pay – Options available in one product.
Features Description
Entry Age 18-65 years
Vesting Age 45-75 years
Policy term Single Pay: 10,15 to 35 years
8 Pay: 10,15 to 35 years
10 Pay: 10,15 to 35 years
15 Pay: 15 to 35 years
Premium payment term Single Pay, 8 Pay, 10 Pay, 15 Pay
Minimum Premium Rs. 24,000 p.a
Maximum Premium No Limit