In This Policy, The Investment Risk In Investment Portfolio Is Borne By The Policyholder.

The Unit Linked Insurance Products do not offer any liquidity during the first five years of
the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.

Plan to retire to a life,

where joy multiplies.
Enjoy your longest holiday with
Assured Pension Plan Key Features

Pension
Multiplier1

Assured Vesting
Benefit2

Multiple
Payment Options3

Assured Pension Plan

A Unit Linked Pension Plan

1. Loyalty additions will be added to the fund value, if all due premiums have been paid, every alternate year starting from the end of 11th policy year equivalent to 1% of average
fund value for immediately preceding two years.
2. Assured Vesting Benefit can be calculated as: [101% + 1% x (Policy Term minus Premium Paying Term)] of the total premiums paid. For more details on Assured Vesting
Benefit kindly refer to - Benefits of HDFC Life Assured Pension Plan (Section b)
3. Flexibility to choose from Premium Paying Term options of Single Pay, 8 Pay, 10 Pay or 15 Pay.
Retirement is inevitable, The next question is
WHAT PART OF INCOME should be invested towards
but to plan for it is up to you
retirement planning?
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT
PORTFOLIO IS BORNE BY THE POLICYHOLDER. Once you know how much money you will
The Unit Linked Insurance Products do not offer any liquidity need at the time of retirement, evaluate it
during the first five years of the contract. The policyholder
against your current investments. Balance
will not be able to surrender or withdraw the monies
invested in Unit Linked Insurance Products completely or amount is what you need to invest for
partially till the end of the fifth year.
One of the biggest challenges of retirement planning is to ensure
that you have gathered enough money during your working Depending on your age and balance amount
years that will take care of your expenses once you retire. Given
the rising cost of living, increased life expectancy and inflation, which you need to provision for retirement,
investments towards your retirement fund is a must to have in you can derive the amount and the duration
your financial calculations. What is equally important is to ensure for which you need to invest
that there is adequate investment made towards retirement
kitty. But how can one ensure that the contribution made
towards post retirement fund is “adequate”?
The exact amount behind “adequate” money you will need when Broad level calculations would indicate that, depending on
you retire lies in the answer to two simple questions!
your age, existing investments and new investments, you
The first question is might need to save an amount ranging from 10% to 25%4
HOW MUCH MONEY will you need when you retire? of your income towards securing a comfortable retirement

Contrary to other investment instruments, 4. Economic Times article dated November 14, 2011: 7 golden rules to retirement
when you plan for retirement, think of how
much you spend and not how much you
want to earn
HOW WILL HDFC LIFE ASSURED
PENSION PLAN HELP YOU?
Once you have defined your expenses, you
need to evaluate your anticipated expenses HDFC Life Assured Pension Plan can help you achieve your
as in the last year before your retirment retirement goals by planning well in advance. You can choose
either a single pay or premium paying term of 8, 10 or 15 yrs, and
stay invested for a policy term of your choice to enjoy complete
Based on your anticipated expenses just benefits of the regular income post retirement. Let us look at a
before retirement, plan to build a fund few examples before we explain the product features to you
which is atleast 20 times your anticipated
expenses in the last year before your
retirement

As a thumb rule ensure that your retirement fund is at least

20 times your expenses as in last year before retirement
Example 1:
Mr Verma, aged 35 years works in an MNC and has just completed Requirement of Mr. Verma: Ensure that his Pension Plan gives him
his retirement planning. To his surprise, he has realized that out an additional Rs. 20 Lakhs, when he retires. Suppose Mr. Verma
of a total of Rs. 30 Lakhs that he would need, his current purchases HDFC Life Assured Pension Plan with 10 year premium
investments and superannuation funds would earn him a total of paying term and 20 year policy term for Rs. 1 Lakh premium, on
approximately Rs. 10,50,000 i.e. only 35% of total money Vesting the plan would provide a fund value of Rs. 21,54,017
required. He needs to quickly start provisioning for additional subject to policy being in force.
65% amount that he would need once he retires. Lets see how Below the chart depicts working of the plan over the entire policy
HDFC Life Assured Pension Plan will help him achieve his term. Assumed rate of return of 8%p.a. has been considered for
retirement goal.

Policy Term – 20 Yrs

Premium PayingTerm – 10 Years

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0
35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54

Entry Age5 Annualised Cumulative Fund Value Cumulative Fund Value On Vesting/ Maturity
Premiums (Assumed@ 8%p.a.#) (Assumed @ 4%p.a.#)

Below table depicts working of the plan

over the entire policy term. The purchase Assumed rate of return @ 8% p.a.# Assumed rate of return @ 4% p.a.#
price is exclusive of taxes and levies. The
Fund value on Annual Fund value on Annual
annuity amount is illustrated as per
vesting at 55 years annuity vesting at 55 years annuity
mandate by IRDAI at assumed rate of return
of age subject to amount^ of age subject to amount^
of 8% and 4%. The annuity amount will policy being in force policy being in force
depend on the then prevailing annuity rates
and options at the time of purchase of the
` 21,54,017 ` 1,56,042 ` 11,59,834 ` 83,871
then available Annuity Plan. It is assumed
that the entire purchase price has been Mr.Verma would get 3 options on Vesting or Maturity. For details on the how the proceeds can
used to purchase annuity from us.

# These assumed rates of returns are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of the policy is dependent on a number of factors
including future investment performance.
on life
table on this
investment
returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the
value of your policy is dependent on a number of factors including future investment performance.
5. All ages mentioned above are as of last birthday
^ This is as per latest annuity rate and not guaranteed, same may change at the time of taking annuity.
Example 2:
Mr. Bansal, aged 40 is an entrepreneur. To safeguard himself from Suppose Mr. Bansal purchases HDFC Life Assured Pension Plan for
the ups and downs of business and market conditions, he wishes 20 years term for Rs. 15 Lakh Single premium, on Vesting the plan
to block Rs. 45 Lakhs for the next 20 years which should not just would provide a fund value of Rs. 43,83,442 subject to policy
help him get a minimum guaranteed amount on maturity and also being in force.
gain from the possible market upside that a unit linked policy Below the chart depicts working of the plan over the entire policy
term. Assumed rate of return of 8% p.a. has been considered for
Requirement of Mr. Bansal: To safeguard income for his retired life.

` 15 Lakh of lump sum invested for 20 years in Single Premium Plan option

5000000 5000000
4500000 4500000
4000000 4000000
3500000 3500000
3000000 3000000
2500000 2500000
2000000 2000000
1500000 1500000
1000000 1000000
500000 500000
0 0
40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59

Annualised Cumulative Fund Value Cumulative Fund Value

Entry Age5 On Vesting/ Maturity
Premiums (Assumed@ 8%p.a.#) (Assumed @ 4%p.a.#)

Below table depicts working of the plan over

Assumed rate of return @ 8% p.a.# Assumed rate of return @ 4% p.a.#
the entire policy term. The purchase price is
exclusive of taxes and levies. The annuity
Fund value on Annual Fund value on Annual
amount is illustrated as per mandate by IRDAI vesting at 60 years annuity vesting at 60 years annuity
at assumed rate of return of 8% and 4%. The of age subject to amount^ of age subject to amount^
annuity amount will depend on the then policy being in force policy being in force
prevailing annuity rates and options at the
time of purchase of the then available ` 43,83,442 ` 3,36,425 ` 20,15,151 ` 1,54,499
Annuity Plan. It is assumed that the entire
purchase price has been used to purchase Mr.Bansal would get 3 options on Vesting or Maturity. For details on the how the proceeds
annuity from us.

# These assumed rates of returns are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of the policy is dependent on a number of factors
including future investment performance.
on life
table on this
investment
returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the
value of your policy is dependent on a number of factors including future investment performance.
5. All ages mentioned above are as of last birthday
^ This is as per latest annuity rate and not guaranteed, same may change at the time of taking annuity.
 KEY FEATURES OF HDFC LIFE ASSURED WHAT ARE THE LIMITS FOR MINIMUM
PENSION PLAN AND MAXIMUM PREMIUMS?
There is no limit on the maximum premium which you can pay.
The minimum premiums required will depend on choice of option
and premium payment frequency that you choose
gain from upside in the market Premium / Payment Regular & Limited Single Pay
Loyalty additions in the form of Pension Multipliers every Frequency Pay Options Options
alternate year, starting in the 11th year
Annual 24,000 NA
Option to start as early as 18 years
Lower vesting/maturity age of 45 years Half Yearly 12,000 NA
Limited Pay & Single Pay – Options available in one product Minimum Quarterly 6,000 NA
Premium Monthly 2,000 NA
fund value of your policy at the time of death or 105% of
total premiums received upto the date of death Single Pay NA 50,000
Maximum Premium No Limit6

WHO CAN PURCHASE HDFC LIFE 6. Subject to our Board Approved Underwriting Policy.
? ASSURED PENSION PLAN?
an option to change the premium payment frequency.
Retirement is an inevitable phase of life and it is never too late or
The following alterations (Increase/Decrease) are not allowed
early to plan for it. This rule applies across gender, profession and
under the product:
life stage you are in. HDFC LIFE ASSURED PENSION PLAN can be
taken by any individual. This however is subject to certain age • Premium
limits shown below: • Policy term
• Premium Payment Term
Entry Age and Vesting Age
Minimum 18 years BENEFITS OF HDFC LIFE ASSURED
Age at entry5
Maximum 65 years PENSION PLAN
Minimum 45 years a. Pension Multiplier:
Vesting Age5
Maximum 75 years Loyalty additions in the form of Pension Multipliers will be added
to the fund value, if all due premiums have been paid, every
5. All ages mentioned above are age last birthday. For all ages, risk commences alternate year starting from the end of 11th policy year. These
from the date of inception of the contract.
additions will be equivalent to 1% of average fund value for
immediately preceding two years.
WHAT IS THE PERIOD FOR WHICH Let’s take the above example of Mr. Bansal, pension multipliers
PREMIUM NEEDS TO BE PAID will be added to his Fund Value from 11th year onwards and every
alternate year thereafter subject to policy being in force. Below
the table depicts the additions to his Fund Value:
Assumed rate of return Assumed rate of return
options for Policy Term and Premium Paying Term. @ 8% p.a.# @ 4% p.a.#
Policy Illustrative Pension Illustrative Pension
Premium Payment Term (Years) Policy Term (Years) Year Average Multipliers Average Multipliers
Fund Value Fund Value
Single Pay 10, 15 to 35
11 24,68,996 24,690 16,76,861 16,769
8 Pay 10, 15 to 35 13 27,67,947 27,679 17,38,855 17,389
10 Pay 10, 15 to 35 15 31,04,912 31,049 18,03,673 18,037
17 34,84,725 34,847 18,71,446 18,714
15 Pay 15 to 35 19 39,12,835 39,128 19,42,307 19,423
# These assumed rates of returns are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of the policy is dependent on a number
of factors including future investment performance.
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life
insurance business. If your policy offers guaranteed benefits then these will be clearly marked "guaranteed" in the illustration table on this
page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment
returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the
value of your policy is dependent on a number of factors including future investment performance.
b. Vesting Benefit: Upon the payment of this benefit, the Policy terminates and no
Your policy vests at the end of the policy term, and your Maturity further benefits are payable.
(Vesting) Benefit will be the higher of the following: Regulation mandates how this Death Benefit will be payable to
• Fund Value or you. Please refer to ‘Utilization of Policy Proceeds’ section below
• Assured Vesting Benefit for details.
Assured Vesting Benefit can be calculated as:
e. Utilization of Policy Proceeds:
[101% + 1% * (Policy Term minus Premium Paying Term)] of the
On Vesting: On the date of vesting the policyholder shall be
total premiums paid. For details on Assured Vesting Benefit refer
allowed:
to Terms & Conditions (section C)
i. To commute up to 60% and utilize the balance amount to
Regulation mandates how this Maturity (Vesting) Benefit will be purchase an immediate annuity or deferred annuity from us at
payable to you. Please refer to ‘Utilization of Policy Proceeds’ the then prevailing annuity rates subject to point (ii) below.
section below for details. ii. To purchase an immediate annuity or deferred annuity from
For example, Mr. Ramesh aged 30 year, invests ` 1 Lakh annually another insurer at the then prevailing annuity rates to the
for 15 years for a policy term of 20 years. At maturity the amount extent of percentage, stipulated by the authority, currently
he receives would be higher of the following: 50%, of the entire proceeds of the policy net of commutation.
• Fund Value or iii. In Addition, the policyholder will also have the option to extend
• Assured Vesting Benefit: Assured Vesting Benefit for the accumulation period or deferment period within the same
Mr. Ramesh would be 106%7 i.e. ` 15,90,000 policy with the same terms and conditions as the original
Fund Value: At 8% returns his fund value would be ` 29,22,179 policy provided the policyholder is below an age of 60 years.
Fund Value: At 4% returns his fund value would be ` 17,26,709 In case the proceeds of the policy on vesting is not sufficient to
7. Please refer to section C of terms and conditions for Assured Vesting
purchase minimum annuity as defined in Regulation 3(a) of IRDAI
Benefit
(Minimum Limits for Annuities and Other Benefits) Regulations,
c. Deferment of vesting date 2015, as amended from time to time, such proceeds of the policy
• The deferment of vesting date (retirement date) can be may be paid to the policyholder as lump sum.
intimated any time before annuitisation
On Death: If the policyholder dies during the deferment period,
• You can postpone the vesting date any number of times
the nominee or beneficiary shall exercise one of the following
subject to the maximum vesting age of 75 years, provided you
options:
are below an age of 60 years
• On postponement of vesting date, Assured Vesting Benefit i. Withdraw the entire proceeds of the policy.

and Death Benefit will continue to apply. The Assured Vesting ii. To utilize the entire proceeds or part thereof for purchasing an
Benefit will be the same as that calculated on the policy term immediate annuity or deferred annuity at the then prevailing
chosen at the inception of the policy annuity rate from us. However, the nominee or beneficiary
• The funds will move to Pension Conservative Fund. All shall be given an option to purchase annuity from any other
applicable charges will continue to be deducted. insurer at the then prevailing annuity rate to the extent of
• On deferment of Vesting Date Pension Multipliers will percentage, stipulated by the Authority, currently 50%, of the
continue to be added to the fund value. proceeds of the policy net of commutation.

d. Death benefit: In case the proceeds of the policy are not sufficient to purchase

In case of your unfortunate demise before the end of policy term, minimum annuity as defined in Regulation 3(a) of IRDAI
your nominees/legal heirs will receive the higher of the following: (Minimum Limits for Annuities and Other Benefits) Regulations,
• Fund Value 2015, as amended from time to time, such proceeds of the policy
• 105 % of the total premiums received upto the date of death may be paid to the policyholder as lump sum.
Your nominees/legal heirs have an option to take this amount as
annuity from us or to withdraw the proceeds.
 surrender whichever is later.
BENEFITS ON DISCONTINUANCE AND
Discount
SURRENDER c) In case of Single premium policies, the policyholder has an
We suggest you to stay invested for the complete policy term to option to surrender any time during the lock-in period. Upon
avail the maximum benefits. However, we understand due to receipt of request for surrender, the fund value, after
reasons beyond your control you might not be able to continue
paying your premiums. This plan has a grace period of 30 days for deducting the applicable discontinuance charges, shall be
yearly, half-yearly and quarterly frequencies from the premium credited to the discontinued policy fund.
due date. The grace period for monthly frequency is 15 days from
i. Such discontinuance charges shall not exceed the charges
the premium due date. During the grace period, the policy is
considered to be in-force with the risk cover without any stipulated in section “Charges” of this document.
interruption. You are expected to pay your premiums
ii. The policy shall continue to be invested in the discontinued
through-out the policy term.
policy fund and the proceeds from the discontinuance fund
a. Discontinuance of Policy during the lock-in-Period: shall be paid at the end of lock-in period. Only fund
a) For other than single premium policies, upon expiry of the
management charge can be deducted from this fund
grace period, in case of discontinuance of policy due to
during this period. Further, no risk cover shall be available
non-payment of premium, the fund value after deducting the
on such policy during the discontinuance period.
applicable discontinuance charges, shall be credited to the
The minimum guaranteed interest rate applicable to the
discontinued policy fund and the risk cover and rider cover, if
‘Discontinued Policy Fund’ shall be as per the prevailing
any, shall cease.
regulations and is currently 4% p.a. The proceeds of the
b) Such discontinuance charges shall not exceed the charges,
discontinued policy shall be refunded only upon completion of
stipulated in “Charges” section of this document. All such
the lock-in period.
discontinued policies shall be provided a revival period of three
Proceeds of the discontinued policies means the fund value as on
the date the policy was discontinued, after addition of interest
discontinuance, the company will communicate the status of
computed at the interest rate stipulated as above.

the policyholder and provide the option to revive the policy b. Discontinuance of Policy after the lock-in-Period:
within the revival period of three years. a) For other than Single Premium Policies:
i. In case the policyholder opts to revive but does not revive
i. Upon expiry of the grace period, in case of discontinuance
the policy during the revival period, the proceeds of the
of policy due to non-payment of premium after lock-in
discontinued policy fund shall be paid to the policyholder at
period, the policy shall be converted into a reduced paid up
the end of the revival period or lock-in period whichever is
policy with the paid-up sum assured i.e. original sum
later. In respect of revival period ending after lock-in period,
assured multiplied by the total number of premiums paid to
the policy will remain in discontinuance fund till the end of
the original number of premiums payable as per the terms
revival period. The Fund management charges of
and conditions of the policy. The policy shall continue to be
discontinued fund will be applicable during this period and
in reduced paid-up status without rider cover, if any. All
no other charges will be applied.
charges as per terms and conditions of the policy shall be
ii. In case the policyholder does not exercise the option as set
deducted during the revival period. However, the mortality
out above, the policy shall continue without any risk cover
charges shall be deducted based on the reduced paid up
and rider cover, if any, and the policy fund shall remain
sum assured only.
invested in the discontinuance fund. At the end of the
ii. On such discontinuance, the company will communicate the
lock-in period, the proceeds of the discontinuance fund
shall be paid to the policyholder and the policy shall
premium, to the policyholder and provide the following
terminate.
options:
iii. However, the policyholder has an option to surrender the
1. To revive the policy within the revival period of three
policy anytime and proceeds of the discontinued policy
shall be payable at the end of lock-in period or date of
 years, or ii. To purchase an immediate annuity or deferred annuity from
2. Complete withdrawal of the policy. another insurer at the then prevailing annuity rates to the
iii. In case the policyholder opts for (1) above but does not extent of percentage, stipulated by the authority, currently
revive the policy during the revival period, the fund value 50%, of the entire proceeds of the policy net of commutation.
shall be paid to the policyholder at the end of the revival d. Revival of Discontinued Policies
period.
We understand that you may want to revive your discontinued
iv. In case the policyholder does not exercise any option as set policy. You have the option to revive a discontinued policy within
out above, the policy shall continue to be in reduced paid up three consecutive years from date of first unpaid premium,
status. At the end of the revival period the proceeds of the subject to payment of all due and unpaid premiums and our
policy fund shall be paid to the policyholder and the policy Board Approved Underwriting Policy.
shall terminate.
Revival of a Discontinued Policy during lock-in Period
v. However, the policyholder has an option to surrender the
a) You can revive the policy restoring the risk cover, along with
policy anytime and proceeds of the policy fund shall be
the investments made in the segregated funds as chosen by
payable.
you, out of the discontinued fund, less the applicable charges
b) In case of Single Premium Policies, the policyholder has an as in sub-section (b) below, in accordance with the terms and
option to surrender the policy any time. Upon receipt of conditions of the policy.
request for surrender, the fund value as on date of surrender b) At the time of revival:
shall be payable. i. all due and unpaid premiums which have not been paid shall
Please refer to the section C below for utilization of proceeds for be payable without charging any interest or fee.
discontinued / surrendered policies. ii. policy administration charge and premium allocation charge
as applicable during the discontinuance period shall be
c. Utilization of Policy Proceeds for levied. Guarantee charges, if applicable during the
Discontinuance/Surrender: discontinuance period, shall be deducted provided the
On Surrender: On the date of surrender the policyholder shall be guarantee continues to be applicable. No other charges
allowed: shall be levied.

i. To commute up to 60% and utilize the balance amount to iii. the discontinuance charges deducted at the time of

purchase an immediate annuity or deferred annuity from us at discontinuance of the policy shall be added back to the

the then prevailing annuity rates subject to point (ii) below. fund.

ii. To purchase an immediate annuity or deferred annuity from Revival of a Discontinued Policy after lock-in Period

another insurer at the then prevailing annuity rates to the a) You can revive the policy restoring the original risk cover in
extent of percentage, stipulated by the authority, currently accordance with the terms and conditions of the policy.
50%, of the entire proceeds of the policy net of commutation.
b) At the time of revival:
In case the proceeds of the policy on surrender is not sufficient to i. all due and unpaid premiums under base plan which have
purchase minimum annuity as defined in Regulation 3(a) of IRDAI not been paid shall be payable without charging any
(Minimum Limits for Annuities and Other Benefits) Regulations, interest or fee. The policyholder also has the option to
2015, as amended from time to time, such proceeds of the policy revive the rider.
may be paid to the policyholder as lump sum. ii. premium allocation charge as applicable shall be levied. The

On Discontinuance: The policyholder has an option, guarantee charges shall be deducted, if guarantee
continues to be applicable.
i. To commute up to 60% and utilize the balance amount to
purchase an immediate annuity or deferred annuity from us at iii. No other charges shall be levied.

the then prevailing annuity rates subject to point (ii) below.

 a. Premium Allocation Charge:
QROPS (Qualifying Recognized Overseas Pension Scheme),
through transfer of UK tax relieved assets This is a premium-based charge. After deducting this charge
from your premium, the remainder is invested to buy units. The
Notwithstanding anything stated under this document, the remaining percentage of your premium that is invested to buy
following terms & conditions shall apply to QROPS policyholders: units is called the Premium Allocation Rate. This charge is
guaranteed for the term of the policy.

If this product is purchased as QROPS through transfer of UK For Regular & Limited Pay Option
tax relieved assets, access to benefits from policy proceeds
Premium Annual Non-Annual
both in the form of commutation and Annuitisation, would Allocation Charge Mode Modes
be restricted till the policyholder attains 55 years of age or (as % of Premium)
vesting age, whichever is later Year 1-5 5% 3.9%
Year 6 onwards 4% 3.9%

If this product is purchased as QROPS through transfer of UK

For Single Premium Pay Option
tax relieved assets, access to benefits from policy proceeds
both in the form of commutation and Annuitisation, would Premium
be restricted till the policyholder attains 55 years of age or Allocation
Charge
the end of the lock-in period whichever is later Premium
Premium Range (as % of
Band single
iii) Cancellation in the Free-Look Period Premium)
If this product is purchased as QROPS through transfer of UK
Band 1 Upto ` 9,99,999/- 2.5%
tax relieved assets, the proceeds from cancellation in free
look period shall only be transferred back to the Fund House Band 2 ` 10,00,000/- to ` 24,99,999/- 1.5%
from where the money was received. Band 3 ` 25,00,000/- and above 1.0%

iv) Overseas Transfer Charge

In the event of applicable tax charge arising as a result of an
b. Fund Management Charge:
overseas transfer (Her Majesty Revenue & Customs (HMRC) -
policy paper – The overseas transfer charge – guidance, The Fund Management Charge is 1.35 % p.a. of fund value. This
published 8th March 2017) for which the Scheme Manager charge is charged daily, and is a percentage of the unit funds.
i.e. HDFC Life Insurance Company may become liable, we shall The Fund Management Charge for Discontinued Policy Fund shall be
deduct an amount only to the extent of the applicable tax 0.50% p.a. These charges are guaranteed for the entire policy term.
charge from the Policy Fund Value and remit the same to This charge may be increased to the maximum cap allowed by IRDAI,
HMRC. subject to prior approval from them

CHARGES c. Policy Administration Charge:

Discount

For Regular and Limited For Single Pay

Guarantee of charges Year Pay Options (as % of Option (as % of
annualised premium) Single Premium)
We reserve the right to review our charging structure (except
premium allocation and mortality charges) at any time. Proper Year 1 to 5 0.18% per month
0.09% per month
Year 6 onwards 0.50% per month
approval will be sought before any change is made
This charge will be levied by cancelling units from the fund. This The discontinuance charges for Regular & Limited pay
charge will be deducted monthly, subject to a maximum charge of policies are as follows.
` 500 per month.
Where the Discontinuance Discontinuance
policy is charges for charges for
This charge may be increased subject to prior approval from IRDAI discontinued annualised annualised
and is subject to the cap of ` 500 as mentioned above. during the premium up to premium above
policy year and including ` 50,000/-
` 50,000/-
d. Mortality Charges:
Lower of 20% * Lower of 6% *
Nil. This charge is guaranteed for the term of the policy. (AP or FV) (AP or FV)
1 subject to subject to
maximum of maximum of
e. Investment Guarantee Charge: ` 3,000/- ` 6,000/-
Investment Lower of 15% * Lower of 4% *
2 (AP or FV) subject (AP or FV) subject
Fund Guarantee to maximum of to maximum of
Charge ` 2,000/- ` 5,000/-
Pension Equity Plus Fund Lower of 10% * Lower of 3% *
0.50% p.a. (AP or FV) subject (AP or FV) subject
SFIN - ULIF06001/04/14PenEqPlsFd101 3
to maximum of to maximum of
Pension Income Fund ` 1,500/- ` 4,000/-
SFIN - ULIF06101/04/14PenIncFund101 0.50% p.a. Lower of 5% * Lower of 2% *
4 (AP or FV) subject (AP or FV) subject
to maximum of to maximum of
Pension Conservative Fund ` 1,000/- ` 2,000/-
0.10% p.a.
SFIN - ULIF06201/04/14PenConsvFd101 5 and NIL NIL
onwards
This charge is charged daily, and is a percentage of the unit funds. AP – Annual Premium
This charge is charged only while the policy is in-force and is not FV – Fund Value on the date of discontinuance

charged on the ‘Discontinued Policy Fund’. This charge can be The discontinuance charges for Single Pay policies
increased to the maximum cap as allowed by IRDAI, subject to are as follows
prior approval from IRDAI. Currently, the maximum cap on this
Where the Discontinuance Discontinuance
charge is 0.50% policy is Charges for single Charges for single
discontinued
during the premium up to premium above
f. Statutory Charges : policy year `3,00,000/- `3,00,000/-
The Statutory taxes and levies as applicable would be charged. Lower of 2% * (SP or FV) Lower of 1% * (SP or FV)
1 subject to maximum of subject to maximum of
`3,000/- `6,000/-
g. Discontinuance Charge: Lower of 1.5% * (SP or FV) Lower of 0.7% * (SP or FV)
2 subject to maximum of subject to maximum of
`2,000/- `5,000/-
This charge depends on year of discontinuance and your
Lower of 1% * (SP or FV) Lower of 0.5% * (SP or FV)
annualised premium. There is no charge after 5th policy year. The 3 subject to maximum of subject to maximum of
table below gives the discontinuance charge applicable `1,500/- `4,000/-
Lower of 0.5% * (SP or FV) Lower of 0.35% * (SP or
4 subject to maximum of FV) subject to maximum of
`1,000/- `2,000/-
5 and
onwards NIL NIL

SP – Single Premium
FV – Fund Value on the date of discontinuance
This charge will be deducted by cancellation of units.
h. Miscellaneous Charge(s): Allocation in Pension Equity Plus Fund – “Equity Backing Ratio”
Any Policy alteration request initiated by the policyholder
Policy Term
will attract a charge of ` 250 per request. This charge may Policy Year 10 15-19 20-24 25-29 30-34 35
be increased subject to an upper limit of ` 500, subject to
1 30% 40% 50% 60% 70% 80%
prior approval from IRDAI. This charge will be levied by
2 24% 36% 46% 57% 67% 77%
cancellation of units.
3 18% 32% 43% 54% 64% 74%
4 12% 28% 40% 51% 61% 72%
Fund Allocation For Premiums 5 6% 24% 36% 48% 58% 69%
6 0% 20% 33% 45% 56% 66%
This is a unit linked plan; the premiums you pay in this plan are
7 0% 16% 30% 42% 53% 64%
subject to investment risks associated with the capital markets.
8 0% 12% 26% 39% 50% 61%
The unit prices of the funds may go up or down, reflecting
9 0% 8% 23% 36% 47% 58%
changes in the capital markets.
10 0% 4% 20% 33% 44% 56%

Each fund has its own Investment policy, based on asset 11 0% 16% 30% 42% 53%
allocation between equity, debt and money market instruments. 12 0% 13% 27% 39% 50%
The allocation between the funds are solely determined by us 13 0% 10% 24% 36% 48%
and depend upon the policy term chosen at inception and the 14 0% 6% 21% 33% 45%
policy year.
15 0% 3% 18% 30% 42%
16 0% 0% 15% 28% 40%
The premium received from you for HDFC Life Assured Pension
17 0% 0% 12% 25% 37%
Plan would be invested in 2 different funds namely Pension
18 0% 0% 9% 22% 34%
Equity Plus Fund & Pension Income Fund. The proportions of
assets to be invested in the Pension Equity Plus Fund are stated 19 0% 0% 5% 19% 32%
in the ‘Equity Backing Ratio’ table given below. The balance assets 20 0% 3% 16% 29%
shall be invested in the Pension Income Fund. Over time the 21 0% 0% 14% 26%
allocation is managed such that it will switch from equity to debt 22 0% 0% 11% 24%
progressively as your policy approaches the vesting date
23 0% 0% 8% 21%
24 0% 0% 5% 18%
In the event of vesting being postponed, the total fund value as
25 0% 2% 16%
on the date of original vesting will be transferred to the Pension
26 0% 0% 13%
Conservative Fund. The monies will remain invested in the
Pension Conservative Fund till the revised vesting date. 27 0% 0% 10%
28 0% 0% 8%
29 0% 0% 5%
30 0% 2%
31 0% 0%
32 0% 0%
33 0% 0%
34 0% 0%
35 0%
 ASSET CLASS
Money Government
A. Risk Factors:
Market Securities, Risk &
Fund Sfin Details Instruments, Fixed Income Equity Return
Cash & Instruments Rating
• Unit Linked Insurance products are different from the
Deposits & Bonds traditional insurance products and are subject to the risk
FUND COMPOSITION factors.
To generate • The premium paid in Unit Linked Insurance policies are
long term
Pension ULIF06 capital 0% 0% 80% Very High subject to investment risks associated with capital markets
Equity 001/04/1 appreciation in to to to
Plus 4PenEqPl line or better 20% 20% 100% and the NAVs of the units may go up or down based on the
Fund sFd101 than Nifty
index returns performance of fund and factors influencing the capital
To deliver High market and the insured is responsible for his/her decisions.
potential 0% 80% - Moderate
Pension ULIF061 returns due to to to • HDFC Life Insurance Company Limited is only the name of the
Income 01/04/1 20% 100%
Fund 4PenIncF
investments in Life Insurance Company and HDFC Life Assured Pension Plan
instruments
und101 with higher is only the name of the unit linked insurance contract and
duration and
credit exposure does not in any way indicate the quality of the contract, its
To invest in high future prospects or returns.
grade fixed 0% 40% - Low
Pension ULIF062 income to to • Please know the associated risks and the applicable charges,
Conserv 01/04/1 60% 100%
ative 4PenCon
instruments & from your Insurance agent or the Intermediary or policy
Government
Fund svFd101 securities at the document issued by the insurance company.
short end of the
yield curve, to • The various funds offered under this contact are the names
deliver stable
returns of the funds and do not in any way indicate the quality of
these plans, their future prospects and returns.
Investment in Mutual Funds will be made as per Mutual Fund
limits prescribed by IRDAI regulations and guidelines. As per B. Unit Prices:
(IRDAI (Investment) Regulations, 2016 Master Circular), the
Investment limit in Mutual Funds is 7% of Investment assets. We will set the Unit Price of a fund as per the IRDAI’s guidelines.
This will apply at overall level and at SFIN level, the maximum The unit price of Unit Linked Funds shall be computed as: Market
exposure shall not exceed 15%. Value of Investments held by the fund plus the value of any
current assets less the value of current liabilities and provisions,
The asset allocation for the Discontinued Policy Fund if any. Dividing by the number of units existing at the valuation
(SFIN:ULIF05201/10/13DiscontdPF101) shall be as per the date before any units are allocated/redeemed, gives the unit
prevailing regulatory requirements. Currently, the asset price of the fund under consideration. We round the resulting
allocation is as follows: price to the nearest Re. 0.0001. This price will be daily published
(i) Money Market Instruments – 0% to 40% on our website and the Life Insurance Council Website. Units shall
(ii) Government securities: 60% to 100%
only be allocated on the day the proposal is accepted and results
You can access the value of policy wise units held by you, through into a policy by adjustment of application money towards
a secured login, as per the format D02 prescribed under IRDAI premium. The premium will be adjusted on the due date even if it
Investment Regulations, 2016. has been received in advance and the status of the premium
received in advance shall be communicated to the policyholder.
For risk factors please refer Terms & Conditions section below

C. Assured Vesting Benefits:

T &C TERMS & CONDITIONS The table below provides you the Assured Vesting Benefits as a
percentage of total premiums paid for various policy term &
We recommend that you read and understand this brochure &
premium payment term:
customised benefit illustration and understand what the plan
is, how it works, the risks involved before you purchase. We
have appointed licensed Financial Consultants, duly licensed by
IRDAI, who will explain our plans to you and advise you on the
correct insurance solution that will meet your needs.
 Assured Assured Assured Assured
E. Alterations & Withdrawals:
Vesting Vesting Vesting Vesting Alteration of premium, policy term, premium paying term and
Policy partial withdrawals are not allowed. Change in premium paying
Term Single Pay for 8 Pay for 10 Pay for 15 Pay frequency is allowed anytime.
(years) Option Option Option Option

10 110% 103% 101% NA

Tax Benefits may be available as per prevailing tax laws. You are
15 115% 108% 106% 101% requested to consult your tax advisor.
16 116% 109% 107% 102%
G. Nomination as per Section 39 of the Insurance
17 117% 110% 108% 103%
Act 1938 as amended from time to time:
18 118% 111% 109% 104% (1) The policyholder of a life insurance on his own life may
19 119% 112% 110% 105% nominate a person or persons to whom money secured by
the policy shall be paid in the event of his death.
20 120% 113% 111% 106%
(2) Where the nominee is a minor, the policyholder may appoint
21 121% 114% 112% 107%
any person to receive the money secured by the policy in the
22 122% 115% 113% 108% event of policyholder’s death during the minority of the
23 123% 116% 114% 109% nominee. The manner of appointment to be laid down by the
insurer.
24 124% 117% 115% 110%
(3) Nomination can be made at any time before the maturity of
25 125% 118% 116% 111% the policy.
26 126% 119% 117% 112% (4) Nomination may be incorporated in the text of the policy
27 127% 120% 118% 113% itself or may be endorsed on the policy communicated to the
insurer and can be registered by the insurer in the records
28 128% 121% 119% 114%
relating to the policy.
29 129% 122% 120% 115% (5) Nomination can be cancelled or changed at any time before
30 130% 123% 121% 116% policy matures, by an endorsement or a further
31 131% 124% 122% 117% endorsement or a will as the case may be.
(6) A notice in writing of Change or Cancellation of nomination
32 132% 125% 123% 118%
must be delivered to the insurer for the insurer to be liable to
33 133% 126% 124% 119% such nominee. Otherwise, insurer will not be liable if a
34 134% 127% 125% 120%
35 135% 128% 126% 121% of the policy or in the registered records of the insurer.
(7) Fee to be paid to the insurer for registering change or

paid up policies on vesting. Authority through Regulations.

(8) A transfer or assignment made in accordance with Section
D. Suicide Exclusion:
In case of death due to suicide within 12 months from the date of 38 shall automatically cancel the nomination except in case
commencement of the policy or from the date of revival of the of assignment to the insurer or other transferee or assignee
for purpose of loan or against security or its reassignment
policyholder shall be entitled to the fund value, as available on after repayment. In such case, the nomination will not get
the date of intimation of death. cancelled to the extent of insurer’s or transferee’s or
Further any charges other than Fund Management Charges assignee’s interest in the policy. The nomination will get
(FMC) and guarantee charges recovered subsequent to the date revived on repayment of the loan.
of death shall be added back to the fund value as available on the
date of intimation of death.
(9) The provisions of Section 39 are not applicable to any life or part of the commission payable or any rebate of the
insurance policy to which Section 6 of Married Women’s premium shown on the policy, nor shall any person taking
Property Act, 1874 applies or has at any time applied except out or renewing or continuing a policy accept any rebate,
where before or after Insurance Laws (Ordinance) 2014, a except such rebate as may be allowed in accordance with
nomination is made in favour of spouse or children or spouse the published prospectuses or tables of the insurer
and children whether or not on the face of the policy it is
mentioned that it is made under Section 39. Where 2. Any person making default in complying with the provisions
nomination is intended to be made to spouse or children or of this section shall be liable for a penalty, which may
spouse and children under Section 6 of MWP Act, it should be extend to ten lakh rupees.

provisions of Section 39 will not apply. J. Non-Disclosure: In accordance with Section 45

of the Insurance Act, 1938 as amended from
Section G (Nomination) is simplified version prepared for time to time:
general information only and hence is not comprehensive. For
full texts of these sections please refer to Section 38 of the (1) No policy of life insurance shall be called in question on any
Insurance Laws (Amendment) Act, 2015 dated 23.03.2015. ground whatsoever after the expiry of three years from the
date of the policy, i.e., from the date of issuance of the
H. Cancellation in the Free-Look period: policy or the date of commencement of risk or the date of
In case you are not agreeable to any of those terms or conditions, revival of the policy or the date of the rider to the policy,
you have the option of returning the policy to us stating the whichever is later.
reasons thereof, within 15 days from the date of receipt of the (2) A policy of life insurance may be called in question at any
policy. However this option will not be available in the event of
time within three years from the date of issuance of the
purchase of this policy from the vesting proceeds of an
policy or the date of commencement of risk or the date of
accumulation pension product. The Free - Look period for policies
revival of the policy or the date of the rider to the policy,
be 30 days. On receipt of your letter along with the original policy whichever is later, on the ground of fraud: Provided that the
documents, we shall arrange to refund you the value of units insurer shall have to communicate in writing to the insured
allocated to you on the date of receipt of request plus the or the legal representatives or nominees or assignees of the
unallocated part of the premium (if any) plus charges levied by
insured the grounds and materials on which such decision is
cancellation of units, subject to deduction of the proportionate
risk premium for the period on cover, expenses incurred by us for based.
medical examination (if any) and the stamp duty (if any) and the (3) Notwithstanding anything contained in sub-section (2), no
stamp duty (if any). insurer shall repudiate a life insurance policy on the ground
Distance Marketing refers to insurance policies sold through any of fraud if the insured can prove that the mis-statement of
mode apart from face-to-face interactions such as telephone, or suppression of a material fact was true to the best of his
internet etc (Please refer to “Guidelines on Distance Marketing of knowledge and belief or that there was no deliberate
intention to suppress the fact or that such mis-statement
Marketing)
of or suppression of a material fact are within the knowl-
I. Prohibition of Rebates: In accordance with Section edge of the insurer: Provided that in case of fraud, the onus
41 of the Insurance Act, 1938 as amended from of disproving lies upon the beneficiaries, in case the policy-
time to time: holder is not alive.

indirectly, as an inducement to any person to take out or

renew or continue an insurance in respect of any kind of risk
relating to lives or property in India, any rebate of the whole
(4) A policy of life insurance may be called in question at any
time within three years from the date of issuance of the
ANNUITY
policy or the date of commencement of risk or the date of
revival of the policy or the date of the rider to the policy,
whichever is later, on the ground that any statement of or Current regulation mandates how the Maturity (Vesting) and the

suppression of a fact material to the expectancy of the life of

the insured was incorrectly made in the proposal or other proceeds’ section). One of the options available under these

document on the basis of which the policy was issued or regulations is to purchase an immediate annuity from the

revived or rider issued: Provided that the insurer shall have to proceeds. If you choose to convert the proceeds to an annuity,

communicate in writing to the insured or the legal represen- you will be required to buy a new policy from us, under the

tativ or nominees or assignees of the insured the grounds

and materials on which such decision to repudiate the of life Please refer to our website www.hdfclife.com for details of the

insurance is based: Provided further that in case of repudia-

tion of the policy on the ground of atement or suppression of
a material fact, and not on the ground fraud, the premiums
collected on the policy till the date repudiation shall be paid
to the insured or the legal representatives or nominees or
assignees of the insured within a period of ninety days from
the date of such repudiation.

(5) Nothing in this section shall prevent the insurer from calling
for proof of age at any time if he is entitled to do so, and no
policy shall be deemed to be called in question merely
because the terms of the policy are adjusted on subsequent
proof that the age of the life insured was incorrectly stated
in the proposal.

K. Indirect & Direct Taxes

Indirect Taxes
Taxes and levies shall be levied as applicable. Any taxes,
statutory levy becoming applicable in future may become
payable by you by any method including by levy of an
additional monetary amount in addition to premium and or
charges.
Direct Taxes
Tax, if any, will be deducted at the applicable rate from the
payments made under the policy, as per the provisions of the
Income Tax Act, 1961 as amended from time to time
 Contact us today

To buy: 1800-266-9777 (Toll free)

(Available all days 9am to 9pm)

Visit us at www.hdfclife.com

HDFC Life Insurance Company Limited (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Registration No. 101.
Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400 011.
Email: service@hdfclife.com, 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 ("HDFC Limited") and is used by HDFC Life under an
agreement entered into with HDFC Limited.
HDFC Life Assured Pension Plan (UIN: 101L109V05, Form No: 501) is a Unit Linked Pension Plan. 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: PP/11/19/16474.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.
Public receiving such phone calls are requested to lodge a police complaint.