HDFC Life Launches 2 Unit-Linked Pension Plans

HDFC Life has launched two unit-linked pension plans based on new guidelines by the Insurance Regulatory Development Authority (IRDA).

HDFC Life Pension Super Plus is a regular premium unit-linked plan that offers death benefit of total premiums paid to date accumulated at a guaranteed rate of 6 per cent per annum.

HDFC Life Single Premium Pension Super, a single premium unit-linked plan, offers benefit of 101 per cent of total premiums paid on vesting.

The life insurance company has also launched a traditional annuity plan, HDFC Life New Immediate Annuity Plan.

As per IRDA’s new guidelines, customers need to purchase immediate annuity from the proceeds of the Pension Plan from the same company.