HDFC Life New Immediate Annuity Plan
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HDFC Life New Immediate Annuity Plan is a non linked traditional annuity plan that offers you various annuity options and provides you an opportunity to live life on your terms even after retirement.

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Benefits Available Under HDFC Life New Immediate Annuity Plan
  • Guaranteed1 income for as long as you/your partner lives at a frequency of your choice - monthly/quarterly/half-yearly/annual options
    1. Benefit from higher annuity rates at investment of Rs 2,50,000 or higher
      1. Death benefit on certain annuity options that provide for return of purchase price or annuity to your spouse

       1The word “Guaranteed” and “Guarantee” mean that annuity payout is fixed once the policy has been purchased.

      Subject to provisions, as per Income Tax Act 1961. Tax benefits are subject to changes in tax laws.

      ENTRY AGE
       
      MIN
      30 yrs
       
      MAX
      85 yrs
      YEARLY ANNUITY PAYOUT
       
      MIN
      ₹ 10,000
       
      MAX
      No Limit
      HALF YEARLY ANNUITY PAYOUT
       
      MIN
      ₹ 5,000
       
      MAX
      No Limit
      QUARTERLY ANNUITY PAYOUT
       
      MIN
      ₹ 3,000
       
      MAX
      No Limit
      MONTHLY ANNUITY PAYOUT
       
      MIN
      ₹ 1,000
       
      MAX
      No Limit
      Age has to be taken as of "last birthday" basis

      Frequently Asked Questions

      How does an annuity plan work?

      • Annuity plans are pension products, they are opposite of a life insurance policy. If you want to invest your hard-earned money to meet long-term retirement needs, then an annuity product may be the answer.
      • In an annuity plan, a person pays either a lump sum amount or regular instalments in the given period to get regular payments or payouts as long as he/she lives or for a pre-specified fixed period. 
      • The insurance companies invest your money and pay back the income generated as payouts when you retire. The annuity plan covers your financial risk by helping you get a regular payment in your sunset years for a comfortable living.  

      When should I buy an annuity?

      If you want the annuity payments to start immediately, you can opt for ‘immediate annuity plan’. But, if you need your regular pension payments to start after a specified period (usually after retirement), you can choose a ‘deferred annuity plan’ among other options but you can buy an annuity plan as early as the age of 45 or 50 years but the best age for starting an income annuity is between 70 and 75, which allows for the maximum payout.

      What is the rate of return in an annuity?

      The rate of return on annuities differ depending on the annuity plan you choose to invest in. One of the popular options is ‘life annuity’ whose return price works like an FD where the investor will earn an income for life, and the nominee gets the amount on the death his/her death. The annual payout on this variant turns out to 5.7-6.4% of the purchase price for someone who is 60 years old. You can also opt for the lifetime annuity, without the return of the initial investment. The interest rate is 7.6-8.1% per annum which is the highest among all variants as the investor does not need to return the funds to an appointed nominee.

      How much do I need to invest in annuity?

      There is no limit on the amount that you need to invest in an annuity. Whether you choose a deferred or immediate annuity, there are few things you need to consider: 

      • Your actual financial needs
      • Your long-term financial goals
      • Your current savings/investment portfolio
      • The impact of inflation.
      • The alternatives available to you

      For instance, If at the age of 60, Rs 30,000 is sufficient for your monthly expenses, then by the time you turn 80 you will need at least Rs 1,16,090 per month to maintain a similar standard of living at an average inflation rate of 7 per cent. 

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      HDFC Life Click 2 Retire
      Your retired life is for you to enjoy, not for you to worry about taxes. With HDFC Life Click 2 Retire you can plan your retirement for just Rs 2000 per month and avail tax benefits.

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