HDFC Life Saral Pension

Benefits 

• Single and  joint life annuity options to cater to your needs.
• Option to receive annuity as long as you or your partner is alive.
• Option to receive annuity monthly, quarterly, half-yearly or yearly
• Bene­t of higher annuity rates for large purchase price.
• Return of Purchase Price option on death.
• Surrender value on diagnosis of critical illness.
• Guaranteed* income source for life – Annuity once purchased is guaranteed* for lifetime.
• No need to undergo medical examination.

Features

Single Life Annuity Options

• Life Annuity with Return of 100% of purchase price (ROP).
• The annuity will be payable at uniform rate in arrears for the life of the annuitant.
• On the death of the annuitant, the annuity payments will cease and we will pay to the annuitant’s nominee/legal heirs 100% of the purchase price.

Joint Life Annuity Options

• Primary Annuitant refers to the individual, the events in the life of whom are of primary importance in affecting the timing or amount of the payout under the contract.
• Secondary Annuitant for the purpose of joint life contracts will refer to the Spouse.
• Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor.
  •  The annuity will be payable in arrears so long as at least one of the two annuitants is alive.
  • On the death of the primary annuitant, secondary annuitant will receive 100% of original annuity throughout life. Subsequently, on death of the spouse, Purchase Price shall be payable to nominee / legal heirs.
  • However, if the spouse has pre-deceased the primary annuitant, then on the death of the primary annuitant, the Purchase price shall be payable to the nominee /legal heirs.

Death Benefit and Survival Benefit (Payable to nominee/Legal heirs) - The table below sets out the Death Benefits and Survival Benefit as per the annuity option chosen by you: 

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