Stress free longest holiday,

secured with Guaranteed returns*

Key Benefits:

Guaranteed
Returns*

Multiple Premium
Paying Terms

Guaranteed Pension Plan

A non linked non-participating pension plan

*Only for policies that are in-force. (3% of sum assured on vesting) that will get accrued for each completed policy year.
Subject to policy being in force and all due premiums being paid. Conditions Apply.
As you look ahead to retirement, what s your biggest concern? It s probably The premium limits, policy fees and conversion factors are as follows:
outliving your savings. Typically, how much income you have during
retirement will depend on how much you have saved by the time you retire. MINIMUM MAXIMUM POLICY FEE PER
CONVERSION
FREQUENCY INSTALLMENT INSTALMENT INSTALMENT
But market downturns may take your retirement savings and your FACTOR
PREMIUM* PREMIUM (`)
retirement dreams down with them.
Annual ` 24,000 200 1.00
We present a solution that is designed to help you build and secure your
Half-Yearly ` 12,000 110 0.51
retirement fund so that you can enjoy the post retirement income. No limit
Quarterly ` 6,000 60 0.26
PRESENTING HDFC LIFE GUARANTEED PENSION PLAN
Monthly ` 2,000 25 0.0875
HDFC Life Guaranteed Pension Plan is a non participating deferred pension
plan that offers assured benefit on death or at vesting. The product offers *The minimum premium amounts are exclusive of taxes and levies as applicable.
guaranteed additions that are added every year and lump sum vesting
The premium rates for frequencies other than annual are calculated by
addition payable at vesting. The plan is ideal for individuals who seek to plan
multiplying the annual premium rates by the applicable conversion factors and
for their retirement to get guaranteed returns on their invested corpus for
adding the policy fee for the frequency.
post retirement income.
BENEFITS
KEY FEATURES OF HDFC LIFE GUARANTEED PENSION PLAN
A. Guaranteed Additions
Guaranteed Additions of 3% of sum assured on vesting that get accrued
for each completed policy year Guaranteed Additions will be 3% of Sum Assured on vesting for each
completed policy year.
A lump sum Vesting Addition payable at vesting
B. Vesting Addition
Choice of premium paying terms of 5, 7 and 10 years
Vesting Addition shall vary by policy term and is given below:
Guaranteed death benefit equal to total premiums paid to date
accumulated at 6% per annum VESTING ADDITION^ VESTING ADDITION^
POLICY TERM POLICY TERM
(% OF SUM ASSURED) (% OF SUM ASSURED)
OWN YOUR HDFC LIFE GUARANTEED PENSION PLAN IN JUST 2 STEPS!
10 years 30% 16 years 48%
Step 1 Choose your vesting age
11 years 33% 17 years 51%
Choose the premium amount you wish to pay for limited period,
Step 2 12 years 36% 18 years 54%
based on your retirement needs
 13 years 39% 19 years 57%
STEP 1: PLAN YOUR VESTING AGE 14 years 20 years
42% 60%
This plan can be taken only on a single life basis. You can select the age you 15 years 45%
wish to retire at (vesting age), as per the limits mentioned below: ^ Sum assured on vesting

POLICY PREMIUM AGE AT ENTRY AGE AT VESTING C. Vesting Benefit

TERM PAYMENT TERM (Yrs.) (Yrs.)
On survival till the vesting date and on full payment of premiums due
(Yrs.) (Yrs.) MINIMUM MAXIMUM MINIMUM MAXIMUM throughout the premium paying term, you will receive sum of
10 to 20 5, 7 and 10 35 65 55 75  Sum Assured on vesting

All ages mentioned above are age last birthday.  Guaranteed Additions
 Vesting Addition
You can choose any policy term in the range of 10 years to 20 years subject to
meeting the vesting age limits. Regulation mandates how this Vesting Benefit will be payable to you.
Please refer to 'Policy Proceeds' section for details.
STEP 2: CHOOSE THE PREMIUM AMOUNT
Based on the premium chosen by you the sum assured on vesting will be D. Death Benefit
determined. You can choose to pay your premiums either annually, half yearly, On death of the life assured, we would pay to the nominee the Assured
quarterly or monthly. Death Benefit of total premiums paid to date accumulated at a guaranteed
Alternatively, you can also choose the sum assured on vesting and we will rate of 6% per annum compounded annually. The minimum level of death
inform you the premium that you need to pay. The minimum sum assured on benefit at all times will be 105% of the premiums paid.
vesting is ` 81,145. There is no limit on the maximum sum assured on vesting. Your nominee has an option to utilise the death benefits, fully or partly, for
Sum Assured on vesting is the absolute amount of benefit which is purchasing an immediate annuity from us. Alternatively, your nominee can
guaranteed to become payable on vesting as per the terms and conditions withdraw the entire death benefit as a lump sum.
specified in the policy. Please note the guaranteed rate of 6% p.a. on the premiums paid to date is
applicable only for the purpose of calculating death benefit and not for
vesting benefit.
E. Access to benefits/payout if this product is purchased as QROPS below) subject to the terms and conditions we may specify from time to time.
(Qualifying Recognized Overseas Pension Scheme), through For revival, you will need to pay all the outstanding premiums, interest on the
transfer of UK tax relieved assets Pension Scheme), through outstanding premiums and taxes and levies as applicable. A charge of ` 250
transfer of UK tax relieved assets shall be levied for processing the revival.
Notwithstanding anything stated under this document, the following The revival period shall be of two years as specified by the current Regulations.
terms & conditions shall apply to QROPS policyholders: The revival period may be changed as specified by Regulations from time to
i) Benefits on Surrender time.
If this product is purchased as QROPS through transfer of UK tax relieved Once the policy is revived, you are entitled to receive all contractual benefits.
assets, access to benefits from policy proceeds both in the form of tax free
SURRENDER
commutation and Annuitisation, would be restricted till the policyholder
attains 55 years of age or the policy acquires GSV, whichever is later It is advisable to continue your policy in order to enjoy full benefits of your
policy. However, we understand that in certain circumstances you may want to
ii) Cancellation in the Free-Look Period
surrender your policy.
If this product is purchased as QROPS through transfer of UK tax relieved
assets, the proceeds from cancellation in free look period shall only be The policy will acquire a Guaranteed Surrender Value (GSV) provided
transferred back to the Fund House from where the money was received.
 first 2 years premiums have been paid for premium paying term of 5 or 7
GRACE PERIOD years

Grace Period is the time provided after the premium due date during which  first 3 years premiums have been paid for premium paying term of 10 years
the policy is considered to be in-force with the risk cover. This plan has a grace
The GSV shall be the aggregate of:
period of 30 days for yearly, half-yearly and quarterly frequencies from the
premium due date. The grace period for monthly frequency is 15 days from  percentage of total premiums paid as specified below
the premium due date.
 surrender value of the accrued Guaranteed Additions
Should a valid claim arise under the policy during the grace period we shall still % OF PREMIUMS PAID FOR GSV CALCULATION
POLICY
honour the claim. YEAR PPT OF 5 YEARS AND 7 YEARS PPT OF 10 YEARS
LAPSATION 2 30% n/a
3 30% 30%
In the event of non payment of premium due under the policy within the grace 4 to 7 50% 50%
period, the policy will lapse if the policy has not acquired a surrender value Last 2 years 90% 90%
(refer the section on surrender). The risk cover will cease and no benefits will After the seventh policy year, the percentage of premiums paid for GSV
be payable in case of lapsed policies. calculation shall be interpolated such that it smoothly progresses from 50% at
You may revive your lapsed policy. Kindly see the section below on Revival. the end of the seventh policy year to 90% two years before vesting. For GSV of
Guaranteed Additions refer the Terms & Condition section.
PAID UP
Depending on the prevailing market conditions, the Company may pay a higher
If you stop paying premiums after the policy has acquired a surrender value,
surrender value in the form of a Special Surrender Value (SSV).
your policy will be made paid-up at the end of the grace period.
On surrender, the amount will be paid to you as defined in the 'Policy Proceeds'
Once a policy becomes paid-up:
section.
 The Paid-Up Sum Assured shall be the Sum Assured on vesting multiplied
POLICY PROCEEDS
by the ratio of the premiums paid to the premiums payable under the policy.
As per current regulations, you have the option to take the Vesting Benefit and
 Guaranteed Additions accrued to the policy shall continue to remain
the Surrender Benefit in the following manner:
attached. No further Guaranteed Additions shall accrue in the future.
 Up to 1/3rd of the benefit can be taken as commuted value (lump sum) as
 Vesting Addition shall be calculated based on the Paid-Up Sum Assured.
prescribed by IRDA. As per section 10(10A) of the Income-tax Act, 1961, any
The death benefit for a paid-up policy shall be premiums paid, accumulated at commuted amount of pension received from a 10(23AAB) approved fund is
a guaranteed rate of 6% per annum. The minimum level of death benefit at all exempt from tax. The residual of the amount must be converted to an
times will be 105% of the premiums paid. annuity. You have to buy the annuity from us as per the prevailing regulation.

The vesting benefit for a paid-up policy shall be the aggregate of:  Alternatively, you can utilize the entire proceeds to purchase a single
premium deferred pension plan from us.
 Paid-Up Sum Assured
These are available subject to the following terms and conditions:
 Guaranteed Additions (accrued before the policy became paid-up)
 The policyholder is permitted to alter the premium paying frequency to any
 Vesting Addition (calculated based on the Paid-Up Sum Assured)
of the frequencies available under the product subject to the minimum
You may revive your paid-up policy. Kindly see the section below on Revival. premium conditions.

REVIVAL  No alterations to the policy term are permitted.

You can revive your lapsed/paid-up policy within the revival period (specified  No alterations to the premium and sum assured are permitted.

If you choose to convert the Vesting or the Surrender Benefit to an annuity, it

will be through the purchase of a new policy from us under our then available Otherwise, insurer will not be liable if a bonafide payment is made to the
annuity product. person named in the text of the policy or in the registered records of the
insurer.
TERMS & CONDITIONS
7) Fee to be paid to the insurer for registering change or cancellation of a
We recommend that you read this brochure & benefit illustration and
nomination can be specified by the Authority through Regulations.
understand what the plan is, how it works, the risks involved before
you purchase. We have appointed licensed Financial Consultants, 8) A transfer or assignment made in accordance with Section 38 shall
duly licensed by IRDAI, who will explain our plans to you and advise automatically cancel the nomination except in case of assignment to the
you on the correct insurance solution that will meet your needs. insurer or other transferee or assignee for purpose of loan or against
security or its reassignment after repayment. In such case, the nomination
A. Exclusion: There are no exclusions in the plan.
will not get cancelled to the extent of insurer's or transferee's or assignee's
B. Tax Benefit: interest in the policy. The nomination will get revived on repayment of the
 Premiums paid are eligible for tax benefits under Section 80CCC of the loan.
Income-tax Act, 1961, subject to the provisions contained therein. 9) The provisions of Section 39 are not applicable to any life insurance policy to
 Up to 1/3rd of the benefit can be taken as commuted value (lump sum) as which Section 6 of Married Women's Property Act, 1874 applies or has at any
prescribed by IRDA. As per section 10(10A) of the Income-tax Act, 1961, t i m e a p p l i e d e xc e p t w h e r e b e f o r e o r a f t e r I n s u r a n c e L a w s
any commuted amount of pension received from a 10(23AAB) approved (Amendment),Bill 2015, a nomination is made in favour of spouse or
fund is exempt from tax. The remaining amount (or full amount) can be children or spouse and children whether or not on the face of the policy it is
used to purchase a life annuity from us at the then prevailing annuity mentioned that it is made under Section 39. Where nomination is intended
rates. to be made to spouse or children or spouse and children under Section 6 of
MWP Act, it should be specifically mentioned on the policy. In such a case
Please note that the above mentioned tax benefits are subject to changes in
only, the provisions of Section 39 will not apply.
the tax laws. Please consult your tax advisors to confirm the applicability of
the tax benefits at your end. F. Assignment or Transfer: Sec 38 of insurance Act 1938 as amended
from time to time
C. Cancellation in the Free-Look period:
1) This policy may be transferred/assigned, wholly or in part, with or without
In case you are not agreeable to the any policy terms and conditions, you
consideration.
have the option of returning the policy to us stating the reasons thereof,
within 15 days from the date of receipt of the policy. The Free-Look period 2) An Assignment may be effected in a policy by an endorsement upon the
policy itself or by aseparate instrument under notice to the Insurer.
for policies purchased through distance marketing (specified below) will
be 30 days. On receipt of the cancellation letter along with the original 3) The instrument of assignment should indicate the fact of transfer or
policy document, we shall arrange to refund the premium amount received assignment and the reasons for the assignment or transfer, antecedents of
less the stamp duty. the assignee and terms on which assignment is made.

Distance Marketing refers to insurance policies sold over the telephone or 4) The assignment must be signed by the transferor or assignor or duly
the internet or any other method that does not involve face-to-face selling authorized agent and attested by at least one witness.

D. Alterations: 5) The transfer or assignment shall not be operative as against an Insurer until
a notice in writing of the transfer or assignment and either the said
Alteration to premium frequency is allowed.
endorsement or instrument itself or copy there of certified to be correct by
E. Nomination : Sec 39 of insurance Act 1938 as amended from time
both transferor and transferee or their duly authorized agents have been
to time
delivered to the Insurer.
1) The policyholder of a life insurance on his own life may nominate a person
6) Fee to be paid for assignment or transfer can be specified by the Authority
or persons to whom money secured by the policy shall be paid in the event
through Regulations.
of his death.
7) On receipt of notice with fee, the Insurer should Grant a written
2) Where the nominee is a minor, the policyholder may appoint any person to
acknowledgement of receiptof notice. Such notice shall be conclusive
receive the money secured by the policy in the event of policyholder's
evidence against the insurer of duly receiving the notice.
death during the minority of the nominee. The manner of appointment to
8) The Insurer may accept or decline to act upon any transfer or assignment or
be laid down by the insurer.
endorsement, if it has sufficient reasons to believe that it is (a) not bonafide
3) Nomination can be made at any time before the maturity of the policy.
or (b) not in the interest of the policyholder or (c) not in public interest or (d)
4) Nomination may be incorporated in the text of the policy itself or may be is for the purpose of trading of the insurance policy.
endorsed on the policy communicated to the insurer and can be registered
9) In case of refusal to act upon the endorsement by the Insurer, any person
by the insurer in the records relating to the policy.
aggrieved by the refusal may prefer a claim to IRDAI within 30 days of
5) Nomination can be cancelled or changed at any time before policy receipt of the refusal letter from the Insurer.
matures, by an endorsement or a further endorsement or a will as the case
Section E (Nomination) and F (Assignment or Transfer) are simplified versions
may be.
prepared for general information only and hence are not comprehensive. For
6) A notice in writing of Change or Cancellation of nomination must be full texts of these sections please refer to Section38 and Section 39 of the
delivered to the insurer for the insurer to be liable to such nominee. Insurance Act, 1938 as amended by The Insurance Laws (Amendment) Act,
2015.
G. Guaranteed Surrender Value Factors for accrued Guaranteed Additions
POLICY TERM
NO. OF YEARS PREMIUMS PAID
10 11 12 13 14 15 16 17 18 19 20
2 32.7% 28.4% 24.7% 21.5% 18.7% 16.3% 14.1% 12.3% 10.7% 9.3% 8.1%
3 37.6% 32.7% 28.4% 24.7% 21.5% 18.7% 16.3% 14.1% 12.3% 10.7% 9.3%
4 43.2% 37.6% 32.7% 28.4% 24.7% 21.5% 18.7% 16.3% 14.1% 12.3% 10.7%
5 49.7% 43.2% 37.6% 32.7% 28.4% 24.7% 21.5% 18.7% 16.3% 14.1% 12.3%
6 57.2% 49.7% 43.2% 37.6% 32.7% 28.4% 24.7% 21.5% 18.7% 16.3% 14.1%
7 65.8% 57.2% 49.7% 43.2% 37.6% 32.7% 28.4% 24.7% 21.5% 18.7% 16.3%
8 75.6% 65.8% 57.2% 49.7% 43.2% 37.6% 32.7% 28.4% 24.7% 21.5% 18.7%
9 87.0% 75.6% 65.8% 57.2% 49.7% 43.2% 37.6% 32.7% 28.4% 24.7% 21.5%
10 87.0% 75.6% 65.8% 57.2% 49.7% 43.2% 37.6% 32.7% 28.4% 24.7%
11 87.0% 75.6% 65.8% 57.2% 49.7% 43.2% 37.6% 32.7% 28.4%
12 87.0% 75.6% 65.8% 57.2% 49.7% 43.2% 37.6% 32.7%
13 87.0% 75.6% 65.8% 57.2% 49.7% 43.2% 37.6%
14 87.0% 75.6% 65.8% 57.2% 49.7% 43.2%
15 87.0% 75.6% 65.8% 57.2% 49.7%
16 87.0% 75.6% 65.8% 57.2%
17 87.0% 75.6% 65.8%
18 87.0% 75.6%
19 87.0%

H. Section 41 of the Insurance Act, 1938 as amended from time to to the best of his knowledge and belief or that there was no deliberate
time states: intention to suppress the fact or that such mis-statement of or
1) No person shall allow or offer to allow, either directly or indirectly, as an suppression of a material fact are within the knowledge of the insurer:
inducement to any person to take or renew or continue an insurance in Provided that in case of fraud, the onus of disproving lies upon the
respect of any kind of risk relating to lives or property in India, any rebate beneficiaries, in case the policyholder is not alive.
of the whole or part of the commission payable or any rebate of the 4) A policy of life insurance may be called in question at any time within three
premium shown on the policy, nor shall any person taking out or renewing ye a r s f ro m t h e d ate of i s s u a n ce of t h e p o l i c y o r t h e d ate of
or continuing a policy accept any rebate, except such rebate as may be commencement of risk or the date of revival of the policy or the date of the
allowed in accordance with the published prospectuses or tables of the rider to the policy, whichever is later, on the ground that any statement of
insurer: or suppression of a fact material to the expectancy of the life of the
Provided that acceptance by an insurance agent of commission in insured was incorrectly made in the proposal or other document on the
connection with a policy of life insurance taken out by himself on his own basis of which the policy was issued or revived or rider issued: Provided
life shall not be deemed to be acceptance of a rebate of premium within that the insurer shall have to communicate in writing to the insured or the
the meaning of this sub-section if at the time of such acceptance the legal representatives or nominees or assignees of the insured the
insurance agent satisfies the prescribed conditions establishing that he is grounds and materials on which such decision to repudiate the policy of
a bona fide insurance agent employed by the insurer. life insurance is based: Provided further that in case of repudiation of the
2) Any person making default in complying with the provisions of this section policy on the ground of misstatement or suppression of a material fact,
shall be liable for a penalty which may extend to ten lakh rupees. and not on the ground of fraud, the premiums collected on the policy till

I. Non-Disclosure: Section 45 of the Insurance Act, 1938 as the date of repudiation shall be paid to the insured or the legal

amended from time to time states: representatives or nominees or assignees of the insured within a period
1) No policy of life insurance shall be called in question on any ground of ninety days from the date of such repudiation.
whatsoever after the expiry of three years from the date of the policy, i.e., 5) Nothing in this section shall prevent the insurer from calling for proof of
from the date of issuance of the policy or the date of commencement of age at any time if he is entitled to do so, and no policy shall be deemed to be
risk or the date of revival of the policy or the date of the rider to the policy, called in question merely because the terms of the policy are adjusted on
whichever is later. subsequent proof that the age of the life insured was incorrectly stated in
2) A policy of life insurance may be called in question at any time within three the proposal.
years from the date of issuance of the policy or the date of J. In case of fraud or misrepresentation including non-disclosure of any
commencement of risk or the date of revival of the policy or the date of the material facts, the Policy shall be cancelled immediately and the Surrender
rider to the policy, whichever is later, on the ground of fraud: Provided that Value shall be payable, subject to the fraud or misrepresentation being
the insurer shall have to communicate in writing to the insured or the legal established in accordance with Section 45 of the Insurance Act, 1938.
representatives or nominees or assignees of the insured the grounds and
K. Indirect & Direct Taxes
materials on which such decision is based.
Indirect Taxes
3) Notwithstanding anything contained in sub-section (2), no insurer shall
repudiate a life insurance policy on the ground of fraud if the insured can Taxes and levies as applicable will be charged and are payable by you by any

prove that the mis-statement of or suppression of a material fact was true method including by levy of an additional monetary amount in addition to
premium and/or charges.
 Direct Taxes ANNUITY:
Tax will be deducted at the applicable rate from the payments made under Current regulation mandates how the Vesting and the Surrender Benefit of

the policy, as per the provisions of the Income-tax Act, 1961. this product are payable to you (see Policy proceeds section). One of the
options available under these regulations is to purchase an immediate annuity
L. The Additional Services :
from the proceeds. If you choose to convert the proceeds to an annuity, you will
1. A charge of `250 per request will be levied for any additional servicing
be required to buy a new policy from us, under the annuity product offered by
requests. This charge may be increased to allow for inflation. The list of
us at that time.
services where this charge is applicable is specified below.
Please refer to our website www.hdfclife.com for details of the current annuity
2. The following lists the services on which Additional Servicing Charge is
plans offered by us.
applicable. Any administrative servicing that we may introduce at a
later date would be added to this list:
Cheque bounce/cancellation of cheque.
Request for duplicate documents such as duplicate Policy
Document etc.
Failure of ECS/SI due to an error at Policyholder s end.

Contact us today

To buy: 1800-227-227 (Toll free)

(Available Mon-Sat 9:30am to 6:30pm)

Visit us at www.hdfclife.com

HDFC Standard Life Insurance Company Ltd (“HDFC Life”). In partnership with Standard Life Plc. CIN: U99999MH2000PLC128245. IRDAI Registration No. 101.
Registered Office: HDFC Standard Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai - 400 011.
Email: [email protected], Tel. No: 1860 267 9999 (Mon-Sat 10 am to 7 pm) Local charges apply. Do NOT prefix any country code. e.g. +91 or 00. Website: www.hdfclife.com
The name/letters "HDFC" in the name/logo of the Company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a license/agreement.
HDFC Life Guaranteed Pension Plan (UIN: 101N092V03, Form No: 501) is a non-linked non-participating pension plan. Life Insurance Coverage is available in this product. This
version of the product brochure invalidates all previous printed versions for this particular plan. This Product brochure is indicative of the terms, warranties, conditions and exclusions
contained in the insurance policy. Please know the associated risk and applicable charges from your insurance agent or the intermediary or policy document of the insurer.
ARN: MC/06/2017/9916.

EWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
• IRDAI does not announce any bonus.
• Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number