HDFC Life Assured Pension Plan

HDFC Life Assured Pension Plan - ULIP

"HDFC Life Assured Pension Plan - ULIP" is a Unit Linked Plan that offers you market linked returns, with Loyalty additions and helps you achieve your retirement goals by planning well in advance.

Features
1. Secure your retirement with assured vesting benefit and also gain from upside in the market
2. Loyalty additions in the form of Pension Multipliers every alternate year, starting in the 11th year
3. Option to start as early as 18 years
4. Lower vesting/maturity age of 45 years
5. Limited Pay & Single Pay - Options available in one product
6. Death benefits to the nominee which will be higher of the fund value of your policy at the time of death or 105% of total premiums received up to the date of death
7. Tax Benefits1 under Section 80CCC and Section 10(10A) of Income Tax Act 1961

1Subject to terms and conditions as per Income Tax Act, 1961. Tax Laws are subject to change.

Benefits

Benefits Available Under HDFC Life Assured Pension Plan - ULIP

1. A) Pension Multiplier:
Loyalty additions in the form of Pension Multipliers will be added to the fund value, if all due premiums have been paid, every alternate year starting from the end of 11th policy year. These additions will be equivalent to 1% of average fund value for immediately preceding two years

B) Vesting Benefit:
Your policy vests at the end of the policy term, and your Maturity (Vesting) Benefit will be the higher of the following

Fund Value or Assured Vesting Benefit

Assured Vesting Benefit can be calculated as:

[101% +1% * (Policy Term minus Premium Paying Term)] * Total premiums paid

C) Deferment of vesting date:
1. The deferment of vesting date (retirement date) can be intimated any time before annuitisation.
2. You can postpone the vesting date any number of times subject to the maximum vesting age of 75 years, provided you are below an age of 60 years.
3. On postponement of vesting date, Assured Vesting Benefit and Death Benefit will continue to apply. The Assured Vesting Benefit will be the same as that calculated on the policy term chosen at the inception of the policy.
4. The funds will move to Pension Conservative Fund and all applicable charges will continue to be deducted.

D) Death Benefit:
In case of your unfortunate demise before the end of policy term, your nominee will receive the higher of the following:

1. Fund Value,
2. 105 % of the total premiums received up to the date of death
The policy will terminate thereafter and no more benefits will be payable.

Charges
Premium Allocation Charge: This is a premium-based charge. After deducting this charge from your premium, the remainder is invested to buy units. The remaining percentage of your premium that is invested to buy units is called the Premium Allocation Rate. This charge is guaranteed for the term of the policy.

For Regular & Limited Pay Option