HDFC Life launches HDFC Life Pension Guaranteed plan

The only-of-its-kind annuity product which rewards customers

for planning their retirement in advance

 O nly one o f its kind pro duct that o ffe r s life - lo ng guar ante e d r ate s for
de fe rr e d annui ty, r ight at the time o f pur chase
 Fle xib le o ptio ns for r ece iving annuit y – Mo nthly, Q uar te r ly, bi- Annually ,
Annual ly
 C usto me r s can avail the plan o n a single life basis (fo r se lf) as w e ll as
o n a jo int life basis (fo r se lf and spo use )
 T r aditio nal o ptio n of imme diate annuit y w ith or w itho ut r e tur n of
capita l

M um ba i, Ma r c h 6, 2018: HDFC L ife , o ne o f India’ s le ading life insur ance

co mpanie s, to day anno unce d the launch o f HDFC L ife Pe nsio n G uar ante e d
Plan, a single pr e mium annuit y pr o duct. This pr o duct is the o nly- o ne - o f-
its- kind w hich o ffer s guar ante e d de fe rr e d annuity r ate s for a life - time ,
r ight at the time o f pur chase .

W he n indivi dua ls think o f lo ng- ter m financia l plannin g, the y o fte n ne gle ct
the mo st cr ucial aspe ct, that o f re tir e me nt plann ing . It is o nly w he n o ne
ge ts clo se r to the ir fiftie s o r cr o sse s the ir fiftie s that he / she star ts
think ing abo ut re tir e me nt. W ith impr o ve me nt in he althcar e facilit ie s, the
quali ty of life has go ne up and so has the lo nge vity . In this sce nar io , it is
ne ce ssar y to e nsur e that o ne is able to live a co mfo r table life afte r
r e tir e me nt.

In the abse nce o f so cial se cur ity, annuity plans are the safe st and mo st
pr e fer r e d me ans o f r e gular inco me fo r re tir e d individ uals . In case o f
Imme diate Annuit y plans pre vale nt to day, o ne star ts r ece iving r e gular
payme nts r ight afte r pur chasin g the pro duct. This is suitable fo r
indiv idua ls w ho ar e clo se r to re tir e me nt age o r have re tir e d. De fer re d
annuit y o ptio ns pr e vale nt to day, ar e usually o pte d fo r by tho se w ho w ant
to plan in advance fo r the ir re tir e me nt. In case o f De fe rr e d Annuity , the
r ate is as pe r the pr e vailin g r ate s dur ing the time the annuit y star ts.

In the cur re nt sce nar io o f mar ke t vo lati li ty and de cre asing inte r e st r ate s,
it is difficu lt to pr e dict w hat the annuit y r ate s w ill be , le t us say, 10 ye ar s
fr o m to day.

H DFC Pensio n Gua r a nt eed Pla n o ffer s the unique benefit of

gua r a nt eed a nnuit y r at es for a defer r ed a nnuit y pla n, at t he t im e o f
pur c ha se it self. T he plan r ew ar ds tho se w ho plan in advance fo r the
lo ng- te r m by o ffer ing highe r annuit y r ate s. O ne can pur chase the plan and
cho o se to r ece ive the annuity, say 10 ye ar s late r . Ho we ve r , the rate o f
the annuity to be give n 10 ye ar s late r w ill be fixe d r ight at the time w he n
the po licy is pur chase d, i.e . to day. T his co me s w ith the r e tur n o f pur chase
pr ice to e nsure that o ne can le ave a co r pus be hind for the ir lo ve d o ne s.

HDFC L ife Pe nsio n G uar ante e d Plan o ffe r s the fle xibi li ty to choo se how o ne
r e ce ive s annuity – o ne can choo se to r e ce ive it mo nthly, quar te r ly, bi-
annual ly o r annually . Fur the r , the jo int life o ptio n wo r ks w e ll for tho se
w ho w ant to e xte nd the be ne fit to the ir spo use .

M r . Sr iniva sa n Pa rt ha sa r a t hy Sr . EVP – Chief A ct ua r y & Appo int ed

A ct ua r y : “ Indians do no t have so cial se cur ity he nce it is ne ce ssar y that
w e pr o te ct o ur se lve s financia lly against all kinds o f e ve ntual it ie s. L ife
afte r re tir e me nt can be difficu lt in case o ne do e s no t plan fo r it. The
cultur e of jo int familie s is no lo nge r pr e vale nt, w hich me ans that afte r
r e tir e me nt o ne e ithe r nee ds to be financ iall y pr e par e d to me e t his/he r
e xpe nse s or de pe nd o n childr e n. T he fir st o ptio n can be achie ve d thr o ugh
annuit y. Altho ugh annuity r ate s may be acce ptable to day, if inte r e st r ate s
w er e to fall, annuity bo ught at r e tire me nt may be le sse r than to day’ s r ate .
T he fact is that no o ne typicall y o ffe r s a guar ante e d annuity that star ts in
the futur e .”

“We have de signe d HDFC L ife Pe nsio n G uar ante e d Plan to e nable
indiv idua ls se cur e the ir re tir e me nt. T he de fe r re d annuity o ptio n re w ar ds
e ar ly planne r s by o ffe r ing an annuity r ate that is guar ante e d fo r life , r ight
at the time o f pur chase . O ne doe s no t ne e d to w ait unti l r e tir e me nt to
kno w the annuity r ate . Fur the r , tho se planni ng in advance fo r the ir
r e tir e me nt ar e re w ar de d by w ay o f highe r annuity rate s, w hich co uld be as
high as 1 3% de pe nding upo n the de fe r me nt per io d” .

Annui ty as an asse t class ne e ds to be w e ll unde r sto o d by the r ising

midd le - age d and midd le class po pulatio n as the y ar e the o ne s w ho w ill
be ne fit fr o m this.

About HDFC Life

HDFC Standar d L ife Insur ance C o mpany L imite d (' HDFC L ife' / ‘ Co mpany’ )
is a jo int ve ntur e be twe e n Ho using De ve lo pme nt Finance Co r por atio n
L imite d, o ne of India’ s le ading ho using finance insti tu tio ns and Standar d
L ife Abe r dee n plc (o ne o f the wo r ld’ s lar ge st inve stme nt co mpanie s) ,
init ial ly thr o ugh its w ho lly o w ne d subsidiar y T he Standar d L ife Assur ance
C o mpany and no w thr o ugh its w ho lly ow ne d subsid iar y, Standar d L ife
(Maur it ius Ho ldings) 20 06 L imite d.

Establ ishe d in 20 00 , HDFC L ife is po sitio ne d as a le ading life insur e r in

India, offe r ing a br o ad, dive r sifie d pr o duct por tfo lio co ve r ing five pr incipal
se gme nts acr o ss the indivi dual and gr o up cate go r ie s, name ly
par tici pati ng, no n- par ticipat ing pr o te ctio n ter m, no n- par ticipa tin g
pr o te ctio n he alth, o the r no n- par ticipa tin g and unit- linke d insur ance
pr o ducts. As o n De c 3 1 , 20 17 , the Co mpany had 3 3 indiv idua l and 1 1
gr o up pro ducts in its por tfo lio , alo ng w ith 8 o ptio nal r ider be ne fits,
cate r ing to a dive r se r ange o f custo me r nee ds.

HDFC L ife co ntinue s to be ne fit fro m its incr e ase d pre se nce acr o ss the
co untr y having a w ide r e ach w ith 4 14 br anche s and additio na l distr ibu tio n
to uch- po ints thr o ugh se ve r al ne w tie - ups and par tne r ships co mpr ising 13 9
par tne r s acr o ss tr adit io nal and no n- tr aditio na l channe ls includi ng N B FC s,
MFIs, SFB s, e tc. The C o mpany has a str o ng base of financial co nsultants .

In Fiscal 20 12 , T he C o mpany e stablishe d a w ho lly- o w ne d subsidiar y , HDFC

Pe nsio n, to o pe r ate its pe nsio n fund busine ss unde r the N atio nal Pe nsio n
Syste m (N PS). And in Fiscal 2 01 6 , the Co mpany e stablishe d its fir st
inte r natio na l w ho lly- ow ne d subsid iar y in the UAE, HDFC Inte r natio nal, to
o pe r ate its re insur ance busine ss.

Fo r mo re info r matio n, ple ase visit o ur w e bsite , w ww .hdfc life .co m . Y o u may
also co nne ct w ith us o n Face bo o k, Tw itte r , Y ouT ube , L inke dIn, and o the r
so cial me dia w e bsite s.

Re han Yasse r , C or p 02 2 67 51 6 66 6 , r e hany@hdfcli fe .co m

Co mmunica tio n , HDFC L ife

N ivi B hatnagar , Inde x PR 98 19 77 54 1 6 , nivi.bhatnagar@indexpr.in