HDFC Life Personal Pension Plus Plan

• Flexibility to choose the investment term 
• Assured benefit equal to 101% of all regular premiums paid on death or at vesting
• Plan can be taken only on a single life basis
• The flexibility to choose the premium payment frequency
• EMI available for HDFC Bank Credit Card holders.
• Get a tax exemption under prevailing tax laws

Death Benefit

On the death of the life assured, the nominee will receive the death benefit which is the Assured Death Benefit of 101% of all regular premiums paid to date. Additionally, accrued bonuses will also be payable. The minimum level of death benefit at all times will be 105% of the premiums paid. The  nominee has an option to use the death benefit, fully or partly, for purchasing an immediate annuity or can withdraw the entire death benefit as a lump sum.

Vesting Benefits

On survival till the vesting date and on full payment of premiums due throughout the policy term, the policyholder will get the higher of Sum Assured on vesting plus accrued bonuses  or Assured Benefit of 101% of all regular premiums paid till date.

Commutation Benefit

Take up to 1/3 of the benefit as tax-free cash lump sum as per the current tax regulations. The residual of the amount must be converted to an annuity. You have to buy the annuity from us as per the prevailing regulation

Bonus

Simple Reversionary Bonus is declared every year  and the bonus is guaranteed to be payable on vesting provided all due premiums are paid.Terminal Bonus may be declared from the 5^th policy year onwards. Terminal Bonus is not guaranteed and is added to the policy on vesting and enables the company to pay a fair share of the surplus at the end, based on the actual experience over the policy term

Loan Benefit

No loan can be availed under this policy.

Surrender Value

The Surrender value is the higher of guaranteed surrender value or special surrender value.Surrender value is payable on payment of all due premiums for at least 3 full policy years.

No rider can be attached under this plan.

The premiums paid are eligible for tax benefits under Section 80CCC of the Income Tax Act, 1961. Up to 1/3rd of the benefit can be taken as tax-free commuted value, as prescribed under section 10(10A) of the Income Tax Act, 1961.