• LIC Maturity Calculator
/
• HDFC Life Insurance Policy and Plans
/
• HDFC Retirement and Pension Plan
/
• HDFC Life Assured Pension ULIP Insurance Plan

HDFC Life Assured Pension ULIP Insurance Plan

HDFC Life Assured Pension ULIP Insurance Plan - "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.

HDFC Life Assured Pension ULIP Insurance Plan (Features):

• Secure your retirement with assured vesting benefit and also gain from upside in the market
• 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
• Death benefits to the nominee which will be higher of the fund value of your policy at the time of death or 105% of premiums paid till then
• Tax Benefits1 under Section 80C and Sec 10(10D) of Income Tax Act 1961

HDFC Life Assured Pension ULIP Insurance Plan (Advantages)

• 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 55 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 premium(s) paid.

  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

  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	2.5%
  Year 6 onwards	0.50% per month	1.5%
  0.09% 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 Service Tax and Education Cess 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 policies having annualised premium up to and including Rs.25,000/-	Discontinuance charges for policies having annualised premium above Rs.25,000/-
  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 policies having single premium above Rs.25,000/-
  1	Lower of 1% * (SP or FV) subject to maximum of Rs.6,000/-
  2	Lower of 0.5% * (SP or FV) subject to maximum of Rs.5,000/-
  3	Lower of 0.25% * (SP or FV) subject to maximum of Rs.4,000/-
  4	Lower of 0.1% * (SP or FV) subject to maximum of Rs.2,000/-
  5 and onwards	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 & Deposits	Government Securities, Fixed Income Instruments & Bonds	Equity
  			FUND COMPOSITION
  Pension Equity Plus Fund	ULIF06 001/04/ 14PenEq PlsFd101	To 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 Fund101	To 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 svFd101	To 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

HDFC Life Assured Pension ULIP Insurance Plan (Eligibility):

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

5Subject to our prevailing operational rules, it may be required for Monthly Frequency to be taken with ECS/SI and to pay first 3 months premium in advance.6 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.

Disclaimers:

Starting premiums for this plan are Rs. 24000 per year and the plan is available only on an annual mode

HDFC Life Smart Woman Plan (Form No: P501, UIN: 101L082V02). This is a unit linked non participatory product. For more details on risk factors, terms and conditions and exclusions please read the product brochure or consult financial consultant before conclusion of sale. Unit linked insurance plans are different from traditional plans and are subject to different market risks. The investment risk in the portfolio is borne by the policyholder. (hdfclife.com)