HDFC Life Single Premium Pension Super

Recommendations :No

Name of the policy :
HDFC Life Single Premium Pension Super

A brief desciption :

HDFC Life Single Premium Pension Super is a single premium pension plan providing higher of Fund value or 101% of Single Premium Paid at maturity and also as death benefit. However there is no life cover provided under this policy, so the very phrase insurance policy is a misnomer you would rather invest in a mutual fund.

Type of policy :
Insurance cum Investment

Category :

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
40-75 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min-25,000 Max- No limit

Mortality Charges :
The amount is not clearly specified, it depends upon the age of the policy holder and cover taken.

surrender changes :

Unique features :
It is a single premium ULIP providing assured maturity value.

Fund Management Charge :1.35% p.a. of the fund value charged daily

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