HDFC Life New Immediate Annuity Plan

HDFC Life New Immediate Annuity Plan is an Annuity Plan where the money needs to be paid in a lump sum and the annuity starts immediately. It is a Traditional Plan without Bonus facility. It is used to plan your retirement with regular incomes flowing in when you have stopped earning.

Key Features

  • This is an Immediate Annuity Plan where the money needs to be paid in a lump sum and the annuity starts immediately
  • Annuity can be taken monthly, quarterly, half yearly or annually but all modes other than annual modes are paid at a discounted rate
  • There are 7 Options for Single Life Annuity and 4 Options for Joint Life Annuity

Benefits

  • Maturity benefit
There is no Maturity Benefit in this plan.
  • Death benefit
In this plan, there is no Death Benefit that is payable.
  • Annuity Options
  • Single Life Annuity
  • Joint Life Annuity

    • Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 30 85
    POLICY TERM WHOLE LIFE
    AGE OF MATURITY - WHOLE LIFE
    SUM ASSURED 10,000 NO LIMIT
    PREMIUM PAYEMENT TERM SINGLE
    PAYMENT TERMS ONLY SINGLE

    What if?

    • I want to surrender my policy?
    Depending on the prevailing market conditions, the company may pay a higher Surrender value in the form of a Special Surrender Value. Currently, the Special Surrender Value (SSV) is the same as Guaranteed Surrender Value. The SSV may be revised from time to time with prior approval of the Authority. For the purpose of computing the surrender benefits, the purchase price excludes service tax, education cess and other statutory levies if applicable.

    Exclusions

    • There are no exclusions in this policy.