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HDFC Life Assured Pension
HDFC Life Assured Pension




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HDFC Assured Pension Benefits

1 Loan And Benefits
1.1 Loan
8% Pension Plans Life insurance plans have it !
1.2 Surrender
83% Pension Plans Life insurance plans have it !
1.2.1 Surrender Value
The surrender benefit shall be the fund value on surrender less the applicable discontinuance charge if any.
1.3 Benefits
1.3.1 Tax
92% Pension Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
Premiums paid are eligible for tax benefits under Section 80 CCC of the Income Tax Act, 1961, subject to the provisions contained therein.
1.3.3 Service Tax
Applicable
1.3.4 Maturity
79% Pension Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
Not Applicable
1.3.6 Death
96% Pension Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
105% of all regular premiums paid to the date.
1.3.8 Annuity
75% Pension Plans Life insurance plans have it !
1.4 Bonus
Not Applicable

HDFC Assured Pension Loan

HDFC Assured Pension loan is an amount that is borrowed from the insurance company which has to be returned with interest within fixed time. Policy loan, surrender value, bonus, benefits are included under HDFC Life Assured Pension loan and benefits. HDFC Life Assured Pension Terms and Conditions for policy loan are specified by the company. Loan is available under this policy. If any insurance policy provides loan then this amount will be some percentage of surrender value.

HDFC Assured Pension Surrender

HDFC Assured Pension surrender value is an amount which you receive from the insurance company in case you want to terminate your policy before maturity. Usually for a regular premium policy, you can get surrender value if you have paid HDFC Life Assured Pension Premium for three continuous years. Surrender value is also known as cash surrender value or cash value.

HDFC Life Assured Pension Bonus

HDFC Life Assured Pension bonus is an additional or extra sum given to a policyholder. When an insurance company makes profits then it shares the profits in the form of bonus with the life insured. Insurance policy bonus includes terminal bonus, reversionary bonus, interim bonus etc. Bonus, if available, can also be considered as one of the HDFC Life Assured Pension benefits. Bonus provided under this plan: Not Applicable.

Reversionary bonus is the one that is based on performance of the insurance policy. You'll get terminal bonus upon termination i.e. maturity of the policy. Dates of terminal bonus are usually announced by the insurance company. If the maturity date of your policy lies within two terminal bonus dates then in its stead, you get an interim bonus.

Benefits Under HDFC Assured Pension

Benefits under HDFC Assured Pension include tax benefit, death benefit, maturity benefit and annuity benefit. Tax is applicable for this plan. Maturity is not applicable for this plan. Death can be availed under this policy. This insurance plan assures Annuity.

  • Tax benefit amount: Premiums paid are eligible for tax benefits under Section 80 CCC of the Income Tax Act, 1961, subject to the provisions contained therein.
  • Death benefit amount: 105% of all regular premiums paid to the date.

If HDFC Life Assured Pension offers tax benefit, then the premiums you pay are eligible for deduction on tax returns and so is a part of the money you get on maturity of the policy. Maturity benefit is the amount of money you get at end of the policy term. Because of death benefit, family of the policy holder receives all the returns in the event of demise of the policy holder. With annuity benefit, you have an opportunity to secure your life financially after retirement. Annuity provides a regular source of income after retirement.

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