HDFC Life, one of India’s leading life insurers, has launched HDFC Life Smart Pension Plus – a plan that enables customers to achieve financial independence after retirement, in the form of a regular and guaranteed stream of income, similar to a ‘salary’.
HDFC Life Smart Pension Plus has been designed to cater to individuals who want to save and create a financial safety net for themselves while they earn to be able to continue with their current lifestyle after retirement in their golden years. This annuity product could enable customers live their desired life after retirement. The product offers flexibility to cover oneself as well as one’s spouse, decide the premium payment term, frequency of pay-out and a choice to take income immediately or after a few years.
HDFC Life Smart Pension Plus is made available in multiple variants – the unique ones being annuity with a liquidity option, simple and compound increasing annuity to offset inflation and early return of premium to fulfil one’s own life goals.Aneesh Khanna, Head – Products & Segments, HDFC Life said, “HDFC Life Smart Pension Plus is a unique annuity plan that can be customised to meet specific requirements for life after retirement. This plan offers multiple bespoke guaranteed income options and enables customers to save adequately for their retired life. We believe the option to make regular premium payments and take joint life cover will enable a larger section of our country’s population to plan for their golden years, well in advance.”
