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Explore HDFC Life Assured Pension Plan – ULIP

Benefits
Benefits Available Under HDFC Life Assured Pension Plan – ULIP
- 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:- The deferment of vesting date (retirement date) can be intimated any time before annuitisation.
- 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.
- 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.
- The funds will move to Pension Conservative Fund and all applicable charges will continue to be deducted.
In case of your unfortunate demise before the end of policy term, your nominee will receive the higher of the following:
- Fund Value,
- 105 % of the total premiums received upto the date of death
The policy will terminate thereafter and no more benefits will be payable.
- A) Pension Multiplier:
- 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
Premium Allocation Charge
(as % of Premium)Annual Mode Non-Annual Modes Year 1 - 5 5% 3.9% Year 6 onwards 4% 3.9% For Single Premium Pay Option
Premium Band Premium Range Premium Allocation Charge
(as % of Single Premium)Band 1 Upto Rs. 9,99,999/- 2.5% Band 2 Rs. 10,00,000/- to Rs. 24,99,999/- 1.5% Band 3 Rs. 25,00,000/- and above 1.0% Fund Management Charge: The Fund Management Charge is 1.35 % p.a. of fund value. This charge is charged daily, and is a percentage of the unit funds. The Fund Management Charge for Discontinued Policy Fund shall be 0.50% p.a. These charges are guaranteed for the entire policy term. This charge may be increased to the maximum cap allowed by IRDAI, subject to prior approval from them
Policy Administration Charge:
Year For Regular and Limited Pay Options (as % of annualised premium) For Single Pay Option (as % of Single Premium) Year 1 to 5 0.18% per month 0.09% per month Year 6 onwards 0.50% per month This charge will be levied by cancelling units from the fund. This charge will be deducted monthly, subject to a maximum charge of Rs. 500 per month.
This charge may be increased subject to prior approval from IRDAI and is subject to the cap of Rs 500 as mentioned above.
Mortality Charges: Nil. This charge is guaranteed for the term of the policy.
Investment Guarantee Charge:
Pension Equity Plus Fund SFIN - ULIF06001/04/14PenEqPlsFd101 0.50% p.a. Pension Income Fund SFIN - ULIF06101/04/14PenIncFund101 0.50% p.a. Pension Conservative Fund SFIN - ULIF06201/04/14PenConsvFd101 0.10% p.a. This charge is charged daily, and is a percentage of the unit funds. This charge is charged only while the policy is in-force and is not charged on the ‘Discontinued Policy Fund’. This charge can be increased to the maximum cap as allowed by IRDAI, subject to prior approval from IRDAI. Currently, the maximum cap on this charge is 0.50%.
Statutory Charges – The Statutory taxes and levies as applicable would be charged.
Discontinuance Charge: This charge depends on year of discontinuance and your annualised premium. There is no charge after 5th policy year. The table below gives the discontinuance charge applicable
The discontinuance charges for Regular & Limited pay policies are as follows
Where the policy is discontinued during the policy year Discontinuance charges for annualised premium up to and including Rs. 50,000/- Discontinuance charges for annualised premium above Rs. 50,000/-1 Lower of 20% * (AP or FV) subject to maximum of Rs. 3,000/- Lower of 6% (AP or FV) subject to maximum of Rs. 6,000/- 2 Lower of 15% * (AP or FV) subject to maximum of Rs. 2,000/- Lower of 4% * (AP or FV) subject to maximum of Rs. 5,000/- 3 Lower of 10% * (AP or FV) subject to maximum of Rs.1,500/- Lower of 3% * (AP or FV) subject to maximum of Rs.4,000/- 4 Lower of 5% * (AP or FV) subject to maximum of Rs.1,000/- Lower of 2% * (AP or FV) subject to maximum of Rs.2,000/- 5 and onwards NIL NIL AP – Annual Premium
FV – Fund Value on the date of discontinuance
The discontinuance charges for Single Pay policies are as follows
Where the policy is discontinued during the policy year Discontinuance Charges for single premium up to Rs. 3,00,000/- Discontinuance Charges for single premium above Rs. 3,00,000/- 1 Lower of 2% * (SP or FV) subject to maximum of Rs.3,000/- Lower of 1% * (SP or FV) subject to maximum of Rs.6,000/- 2 Lower of 1.5% * (SP or FV) subject to maximum of Rs.2,000/- Lower of 0.7% * (SP or FV) subject to maximum of Rs.5,000/- 3 Lower of 1% * (SP or FV) subject to maximum of Rs.1,500/- Lower of 0.5% * (SP or FV) subject to maximum of Rs.4,000/- 4 Lower of 0.5% * (SP or FV) subject to maximum of Rs.1,000/- Lower of 0.35% * (SP or FV) subject to maximum of Rs.2,000/- 5 and onwards NIL NIL SP – Single Premium
FV – Fund Value on the date of discontinuance
This charge will be deducted by cancellation of units.
Miscellaneous Charge(s): Any Policy alteration request initiated by the policyholder will attract a charge of Rs. 250 per request. This charge may be increased subject to an upper limit of Rs. 500, subject to prior approval from IRDAI. This charge will be levied by cancellation of units.This is a unit linked plan; the premiums you pay in this plan are subject to investment risks associated with the capital markets. The unit prices of the funds may go up or down, reflecting changes in the capital markets.
FUND SFIN DETAILS ASSET CLASS RISK & RETURN RATING Money
Market Instruments, Cash & DepositsGovernment Securities, Fixed Income Instruments & Bonds Equity FUND COMPOSITION Pension Equity Plus Fund ULIF06
001/04/
14PenEq
PlsFd101To generate long term capital appreciation in line or better than Nifty index returns 0% to 20% 0% to 20% 80% to 100% Very High Pension Income Fund ULIF06
101/04/
14PenInc
Fund101To deliver High potential returns due to investments in instruments with higher duration and credit exposure 0% to 20% 80% to100% - Moderate Pension Conservative Fund ULIF06
201/04/
14PenCon
svFd101To invest in high grade fixed income instruments and Government securities at the short end of the yield curve,to deliver stable returns 0% to 60% 40% to 100% - Low
Eligibility
ENTRY AGE

MIN
18 yrs
MAX
65 yrs
VESTING AGE

MIN
45 yrs
MAX
75 yrs
PREMIUM PAYMENT TERMSINGLE PAY

- 10, 15 to 35 yrs
PREMIUM PAYMENT TERM 8 PAY

- 10, 15 to 35 yrs
PREMIUM PAYMENT TERM10 PAY

- 10, 15 to 35 yrs
PREMIUM PAYMENT TERM15 PAY

- 15 to 35 yrs
WHAT ARE THE LIMITS FOR MINIMUM AND MAXIMUM PREMIUMS?
There is no limit on the maximum premium which you can pay. The minimum premiums required will depend on choice of option and premium payment frequency that you choose
PREMIUM / PAYMENT FREQUENCY REGULAR & LIMITED PAY OPTIONS

MIN
- Annual: ₹24000
- Half Yearly: ₹12000
- Quarterly: ₹6000
- Monthly5: ₹2000
- Single Pay: NA
MAX
- No Limit
PREMIUM / PAYMENT FREQUENCY SINGLE PAY OPTIONS

MIN
- Annual: NA
- Half Yearly: NA
- Quarterly: NA
- Monthly: NA
- Single Pay: ₹50000
MAX
- No Limit
* Subject to our Board Approved Underwriting Policy
For more details on risk factors, charges, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision.

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