HDFC Life
Systematic Retirement Plan

Step 1: Choose your premium you wish to pay or the annuity payout you wish to receive.
Step 2: Choose premium payment term and deferment period as per your convenience
Step 3: Choose your annuity option
Step 4: Choose your annuity payout frequency– monthly, quarterly, half-yearly, or yearly or any date of your choice

Receive your annuity payouts through direct credit to your bank account

The following plan options are available:

• Life Annuity
• Life Annuity with return of Premiums

On death during Deferment Period¹:

i)   The death benefit shall be the higher of

• Total Premiums² 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
  
  

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

iii)  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 Total Premiums paid up to the date of death
  
  

¹Deferment Period: Period from the date of inception of the policy after which the first annuity payment is made to the annuitant, in arrears as per the frequency chosen by the annuitant. The deferment period shall be chosen by annuitant at inception. The Deferment period can be different from the premium payment term.

²Total Premiums paid: Total premiums received excluding any extra premiums, rider premiums and taxes

Yes, the annuity is guaranteed¹ and shall be payable for as long as the annuitant is alive.

¹ Amount of guaranteed income will depend upon premiums paid subject to applicable terms and conditions.

Any individual between the age of 45 years to 75¹ years can purchase the plan

¹Subject to annuity starting at age 80.

Tax benefits shall be available as per the prevailing tax laws. Please contact your tax consultant for specific details.

The minimum premium across different frequencies is as follows:

Annual: ₹ 30,000
Half Yearly: ₹ 15,300
Quarterly: ₹ 7,800
Monthly:  ₹ 2,625

There is no limit on maximum premium. Acceptance of any case is subject to Board Approved Underwriting Policy (BAUP).

The minimum annuity payout across different frequencies is as follows:

Annual: ₹ 12,000
Half Yearly: ₹ 6,000
Quarterly: ₹ 3,000
Monthly: ₹ 1,000

There is no limit on maximum annuity payout. Acceptance of any case is subject to Board Approved Underwriting Policy (BAUP).