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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
    "My requirement is not fulfilled"
    0.5 3.0/5 "Satisfactory"
    I had applied and got a life insurance from HDFC LIFE. But i am totally dis satisfied by their policy agent. He deducted some hidden charges and didn't responded regarding about those charges. I have a suggestion that please recruit these type of Policy agents. Otherwise i like the policy and all benefits are covered in single policy.
    Was this review helpful? 0
    , silvassa
    Reviewed on Feb 17, 2018
  • HDFC Life Life Insurance
    "Payment options need to be made more simple"
    0.5 5.0/5 "Blown Away!"
    I have taken a Life Option Plan Lumpsum from HDFC Life. I am okay with the benefits and coverage in the policy. The customer services are good. The policy coverage is for 10000000 and the Policy Term is for 30 years. The only thing I was not okay with is the ECS formalities for the premium payment. It involves a lot of inconvenience by visiting the branch and finishing the procedures. It should be made more simple.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Feb 02, 2018
  • HDFC Life Life Insurance
    "Good Child Plan"
    0.5 5.0/5 "Blown Away!"
    At the time of activation HDFC LIFE gave me a good plan for my child. It has the term of 16 years for the sum assured of Rs. 15 lakhs, yearly I make the premium around Rs. 30,000 it has different payment option. HDFC is providing life cover, tax benefits, financial security against unforeseen events.
    Was this review helpful? 0
    , hosur
    Reviewed on Feb 01, 2018
  • HDFC Life Life Insurance
    "Satisfied with the features"
    0.5 4.0/5 "Great!"
    My life insurance is with HDFC Life. I have taken a money back plan. There are good benefits in this policy. I get a bonus every four to five years. After which I would get the sum assured after the maturity term. The tenure is for 25 years. The premium is reasonable. I pay it through ECS on a quarterly basis.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 01, 2018
  • HDFC Life Life Insurance
    "Good features"
    0.5 5.0/5 "Blown Away!"
    My term insurance is with HDFC Life. I have taken a Life Option Plan Lump sum plan. There is a sum assured for Rs. 75,00,000. The customer services are good, I received the necessary documents on time. The tenure is for 36 years and the premium is also reasonable.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 19, 2018
  • HDFC Life Life Insurance
    "Good protection for family"
    0.5 5.0/5 "Blown Away!"
    I am an existing customer of HDFC and also I am working with the same company, hence I know about the benefits of term insurance with HDFC Life. Their claim settlement ratio is high, when its comes to the term insurance, premium doesn't matter. for me. My nominee will survive after my absence, I paid the premium around Rs. 6100 it has the term of 20 years for the sum assured value of Rs. 50 Lakhs with tax benefits, financial security against unforeseen events.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 18, 2018
  • HDFC Life Life Insurance
    "Process is good"
    0.5 5.0/5 "Blown Away!"
    I have taken a term insurance from HDFC Life. The customer services is good. Though I am not too sure of the plan name. The features and coverage is good. The tenure is for 30 to 35 years. There are no add ons and only a life cover. The premium is reasonable.
    Was this review helpful? 0
    , vadodara
    Reviewed on Jan 11, 2018
  • HDFC Life Life Insurance
    "Good plan"
    0.5 4.0/5 "Great!"
    I have taken my life insurance from HDFC Life. It is a Click to invest plan. The customer services are good and they were always on time and they are very quick when it comes to response. The tenure is for five years. The premium is for 1200 on a monthly basis. After the maturity term I would get around a lakh.
    Was this review helpful? 0
    , machilipatnam
    Reviewed on Jan 11, 2018
  • HDFC Life Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    I believe HDFC Life is a very secured one, my yearly premium was around Rs. 6500. It has the term of 40 Years, end of the policy I wont get any maturity benefits but my nominees will get the lump sum amount of Rs. 50 lakhs. The policy has tax benefits , accidental, critical illness and waiver of disability cover.
    Was this review helpful? 0
    , rajkot
    Reviewed on Jan 10, 2018
  • HDFC Life Life Insurance
    "Fabulous"
    0.5 4.0/5 "Great!"
    With the HDFC life, I am having the life insurance policy and the customer service is all good one for me. I have not faced any issues with them till now. Overall, the services are really good one for me with the HDFC life and everything is really fine for me..
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Jan 05, 2018
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