HDFC Life Systematic Retirement Plan

Every person wishes to retire with financial freedom and a steady stream of income throughout their retirement years. Therefore, methodological preparation for the golden years of retirement is extremely pivotal to leading a stress-free life. HDFC Life Systematic Retirement Plan is an individual/group, non-linked, non- participating, and savings deferred plan that enables the policyholder to build his/her retirement corpus. The plan gives you the flexibility to select the deferral period so you can lead a comfy life.
Continue reading to know more about the plan!

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Why you need this Plan ?
Death Benefit
In case of the policyholder’s death during the deferment period, the death benefit will be higher of:
  • Total premiums 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.
Survival Benefits
During the deferment period, no survival benefit will be paid. However, on survival after the completion of the deferment period, survival benefits will be paid as per the annuity payment frequency chosen by the policyholder.

Annuity Payouts
Your yearly frequency annuity will be determined as follows:
Annuity Payout = Annuity Rate X Annualised Premium
After the deferment period, your annuity will be payable in arrears at the conclusion of the set annuity payment frequency.
Higher Premium Benefits
Higher annualized premiums would result in benefits in the form of an additional annuity that would be paid as a percentage of the annuity rates.