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  • HDFC Life Group Retirement Plans

    Planning ahead for the age of retirement can make all the difference in having a comfortable old age. HDFC Life offers group retirement plans that bring down premium costs and provide adequate coverage for members of the group. There are unit-linked plans and non-linked plans. Customers can choose from four different plan options according to their needs and requirements.

    Benefits of HDFC Life Group Retirement Plans

    HDFC Life Insurance offers a variety of group insurance plans to cater to the varied needs of customers. You can benefit from the following when you opt for one of these plans:

    • Premiums can be paid regularly or as a single premium.
    • Assured benefits
    • Options of different investments to choose from
    • Tax benefits as per the prevailing tax laws
    • Switch options to control investments

    Group Retirement Plans Offered by HDFC Life

    There are four group plans offered by HDFC Life that caters to retirement wants and needs of employers and employees.

    HDFC Life Group Pension Plan:

    This is a non-linked participating variable group retirement plan. Employers can use this plan to effectively build an employee superannuation benefit fund. The plan is an ideal investment solution to helping employees build a retirement corpus. Some of the benefits of this plan include:

    • Easy claim settlement process
    • Bonus credited at the end of each financial year
    • Retirement corpus for individual members
    • Minimum floor rate of 0.5% is guaranteed for the policy term
    • Option to get a single policy account or individual member accounts
      Plan Name   Entry Age   Maturity Age   Premium
    HDFC Life Group Pension Plan 16 years to 75 years Not specified Rs.1 lakh per policy

    HDFC Life Group Unit-Linked Pension Plan:

    This unit-linked pension plan provides employers with a suitable yet flexible solution to making provisions for superannuation benefits. The objective of this plan is to give employers a cost-efficient method of managing the superannuation scheme.

    • Easy claim settlement process
    • Get assured benefits
    • There is a range of investment options
    • Retirement corpus for individual members
    • Option to get a single policy account or individual member accounts
    • Depending on the number of years to retirement, the fund allocation is based on life stages
    • At least 10 members are required to take this plan
      Plan Name   Entry Age   Maximum Vesting Age   Premium
    HDFC Life Group Unit-Linked Pension Plan 18 years to 74 years 75 years Rs.5 lakh

    HDFC Life Group Variable Employee Benefit Plan:

    This group insurance plan is a non-participating variable one through which a company or trustee becomes the policyholder. All employees become members of the scheme. This plan is a cost-effective way to build up a retirement corpus fund for employees to meet their future needs.

    • For the entire term of the policy, a guaranteed minimum return of 1% p.a. is provided.
    • At the beginning of every quarter, additional interest rate will be declared.
    • As per the applicable tax laws, tax benefits can be availed by employers and employees.
    • In case of superannuation schemes, there is an option of individual member level accounts.
    • The product can be tailored to achieve different objectives of leave encashment, gratuity, superannuation and other benefits for employees.
    • At least 10 members are required to take this plan.
      Plan Name   Entry Age   Maturity Age   Premium
    HDFC Life Group Variable Employee Benefit Plan 16 years to 75 years Not specified Rs.5 lakh per policy

    HDFC Life New Group Unit-Linked Plan:

    The HDFC Life New Group Unit-Linked Plan gives employers an easy way to build and manage a corpus that will take care of employees’ future needs. The plan helps maximise investment returns through cost-effective solutions.

    • Choose from 6 different debt and equity-oriented funds
    • Flexible options for premium payments
    • Switch over between funds to have better control over your investment
    • Get an in-built insurance cover of Rs.1,000
    • For large funds, additional units will be added to the scheme as a form of a discount
    • As per the applicable tax laws, tax benefits can be availed by employers and employees
    • At least 10 members are required to take this plan
    • Benefits are payable upon leaving the scheme, death of the insured, or surrender of the policy

    Fund Options

    The six funds that are available are:

    • Liquid Fund II - Low capital risk with stable returns.
    • Secure Managed Fund II - Higher potential returns with more stability of capital.
    • Defensive Managed Fund II - Risk is kept down with significant bond exposure. Get better access to long-term returns from equities.
    • Balanced Managed Fund II - Stability through bond exposure and increased equity exposure. Get better long-term returns.
    • Equity Managed Fund II - Stability and diversification through small bond holdings. Greater long-term returns from more exposure to equities.
    • Growth Fund II - Maximise your investments through 100% investment in good quality Indian equities.
      Plan Name   Entry Age   Maturity Age   Premium
    HDFC Life New Group Unit-Linked Plan As specified by the trust deeds and rules Not specified Rs.5 lakh per policy

    Why should you buy a Group Retirement Plan from HDFC Life?

    Group plans have become an essential part of organisations as the benefits are numerous to employers and employees. Managing a large number of employees and securing financial protection for them is not an easy task. These plans help lighten the load and make it a smooth process without much of the hassle or the expense. Founded in 2000, the insurer is headquartered in Mumbai and runs its operations through 398 branches across the country. With an established presence in over 980 cities and towns, customers have easy access to the insurer and its products.

    HDFC Life Group Retirement Plans Reviews

    • HDFC Life Life Insurance
      "Good features"
      0.5 5.0/5 "Blown Away!"
      HDFC Life is also good for the benefits in the life insurance. The sum assured is good too and the premium is paid online. There are no hassles in the overall process. I am happy with the benefits as well. The customer services are good and supportive.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Jul 20, 2018
    • HDFC Life Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have purchased my life insurance from the HDFC through the on line and documentation also paperless and i received the soft copy too before 2 years. The tenuity period is for 20 years it is a long term policy. I pay the premium through the on line for yearly once.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2018
    • HDFC Life Life Insurance
      "Good overall"
      0.5 4.0/5 "Great!"
      HDFC Life has good benefits in the life insurance. The customer services are good too. They have a good sum assured and the benefits are also to my satisfaction. It is a term insurance. The best is the payment mode. There are many options as I can pay it online through my credit card too.
      Was this review helpful? 0
      , medak
      Reviewed on Jul 17, 2018
    • HDFC Life Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      HDFC LIFE is the insurance provider where i am holding my life insurance policy where i have done my documentation with easy and simple procedure. The tenuity of my insurance is 15 years where i am using it long back and i am not completely satisfied with the process.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 15, 2018
    • HDFC Life Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      From the HDFC LIFE i am using my life insurance from last few years. The documentation done through the on line where the process i easy to get the insurance. The tenuity period of my insurance is 10 years and the premium is nominal also it is very much satisfactory for me.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 15, 2018
    • HDFC Life Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      As i am holding my life insurance from the HDFC since last 15 years. I have taken this HDFC as my life insurance the reason is that my colleague suggested me. The tenuity period of my insurance is for a long term. The sum amount that i am getting is of 1 lakhs.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 10, 2018
    • HDFC Life Life Insurance
      "Overall good"
      0.5 4.0/5 "Great!"
      My life insurance is with HDFC Life. The process was easy to buy this policy. The customer services are good. The premium is normal and I am satisfied with the sum assured and the plan benefits. The payment options are also convenient and easy to use.
      Was this review helpful? 0
      , thane
      Reviewed on Jul 07, 2018
    • HDFC Life Life Insurance
      "Satisfied with the benefits"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with HDFC Life. The customer services are good. The tenure is for 15 years and I need to pay my premium only till 10 years. After the 15th year I would get my benefits. The sum assured is good and the benefits as well. The payment options are fine.
      Was this review helpful? 0
      , faridabad
      Reviewed on Jul 04, 2018
    • HDFC Life Life Insurance
      "WORST"
      0.5 1.0/5 "Really Bad"
      I had a bad experience with the life insurance that i am holding with. I have a grace period of paying the due but they have not accepted that. The customer service is not good and they have mis guided me by paying the premium. I have suffered a lot a lot by paying the due and holding the insurance.
      Was this review helpful? 0
      , nellore
      Reviewed on Jul 04, 2018
    • HDFC Life Life Insurance
      "Satisfied with the benefits"
      0.5 4.0/5 "Great!"
      I have taken my life insurance from HDFC Life. The customer services are good. The process is smooth and easy and there is no hassles to make a payment online. There are good benefits and the sum assured is also satisfactory. It is a normal traditional policy.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jul 03, 2018
    • HDFC Life Life Insurance
      "Process is satisfactory"
      0.5 4.0/5 "Great!"
      HDFC Life is good in the customer services and there are no hassles in the process. I have taken a term insurance from them. I am satisfied with the sum assured and the plan benefits in the policy. The premium is also normal and the whole process is nice.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 28, 2018
    • HDFC Life Life Insurance
      "Good features overall"
      0.5 5.0/5 "Blown Away!"
      HDFC Life is good in the overall benefits and services. I have taken a life insurance. The tenure is for ten years and there is a lock in period for five years. After the fifth year, I do not have to pay a premium. After the maturity term I would get my sum assured. The premium is normal and I pay it on a yearly basis.
      Was this review helpful? 0
      , rupnagar
      Reviewed on Jun 14, 2018
    • HDFC Life Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have been using since 3 years. Premium i pay for my insurance is for monthly once that too i do the payment through the on line. Actually i am not aware of the tenuity. Apart from that i have don the documentation which is very easy and it is simple.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 12, 2018
    • HDFC Life Life Insurance
      "Good policy. Payment mode can be more flexible."
      0.5 5.0/5 "Blown Away!"
      I have taken my term insurance from HDFC Life. The services are good. I bought the policy with ease. The sum assured is for 60 Lakhs and the tenure is for 35 years. The only drawback is with the payment options. There are no options online and by chance if I skip a monthly payment the policy gets lapsed. This inconvenience does not happen with the other insurance providers.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jun 07, 2018
    • HDFC Life Life Insurance
      "EXCELLENT"
      0.5 4.5/5 "Excellent!"
      My life insurance is good. Customer service is good and helped. I have been using since 5 months. Payment i do through on line for monthly once. Plan benefit is good. Policy coverage is for 85 lakhs, 40 years i have to pay for my insurance. In case of paralysis then in can avail the policy that i applied. Documentation is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 31, 2018
    • HDFC Life Life Insurance
      "Best Family Protection Policy"
      0.5 3.0/5 "Satisfactory"
      They provided me a toll free number, I have been tried this number its keep on not responding. They are giving different numbers for sales, Service and policy so i don't need to repeat my issue again and again to a different people. I have applied for auto debit option. They are not giving the information pro-actively about auto deduction. 1st they have rejected auto deduction since the account was not in my name. Customer service is not up to the mark.
      Was this review helpful? 0
      , erode
      Reviewed on May 22, 2018
    • HDFC Life Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      Got my Life insurance from Hdfc life . It has good benefits with accidental coverage and critical medical claim . It has good policy cover with tenure period of 15 years . I pay the payment annually through online banking . Am getting Income tax benefits from this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 22, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have been using Life insurance from Hdfc life . It has good benefits with accidental coverage and critical medical claim . The policy coverage is 60 years with tenure period of 25 years . I pay the payment annually through online banking . Am getting Income tax benefits from this policy.
      Was this review helpful? 0
      , arwal
      Reviewed on May 22, 2018
    • HDFC Life Life Insurance
      "One of the Best Insurance Company"
      0.5 4.0/5 "Great!"
      In Life insurance, HDFC is the one of the best company. They are providing the Wide range options to choose. When comes to payment they make your life is easy. They used to send notification regularly through email and message. So, I can make the payment on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2018
    • HDFC Life Life Insurance
      "Better Policy"
      0.5 5.0/5 "Blown Away!"
      I do not prefer any policy. I just want a term insurance policy. I have chosen Endowment plan from LIC. The premium amount is Rs. 4000 to 5000 per month. Tenure is 5 years. Sum Assured amount is Rs.10 Lakhs. Only for the Tax consumption option i have selected this policy. I am not aware of the whole features and benefits of this policy.
      Was this review helpful? 0
      , nagpur
      Reviewed on May 14, 2018
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