{"uin":"101N173V13","name":"HDFC Life Smart Pension Plus","url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13","insurer":{"slug":"hdfc-life-insurance","name":"HDFC Life Insurance Company Limited","url":"https://indiainsurances.com/insurer/hdfc-life-insurance"},"line":"life","category":"pension-annuity","category_name":"Pension and annuity","irdai_type":"Product","kind":"product","status":"active","approved_on":"2022-12-28","withdrawn_on":null,"summary":"HDFC Life Smart Pension Plus is a non-linked non-participating individual annuity savings plan with whole-life annuity payments. It offers single-life or joint-life annuity options, immediate or deferred payouts, and no maturity benefit.","analysis":{"state":"machine","analysed_at":"2026-10-19 21:11:24.876806+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Life Annuity","Life Annuity with Return of % of Total Premiums Paid","Life Annuity with Early Return","Increasing Annuity"],"display":"Life Annuity; Life Annuity with Return of % of Total Premiums Paid; Life Annuity with Early Return; Increasing Annuity","note":null,"quote":"Brief summary of the plan options available under the product:\nPlan Option | Name | Premium Payment Option | Single Life | Deferment Option\nName (SL)/Joint Life (JL)\nA | Life Annuity | Single Payment/Limited Payment | SL/JL | Yes\nB | Life Annuity with Return of % of Total Premiums Paid | Single Payment/Limited Payment | SL/JL | Yes\nC | Life Annuity with Early Return | Single Payment/Limited Payment | SL/ JL (only with SP) | Yes\nD | Increasing Annuity | Single Payment/Limited Payment | SL/ JL(only with SP) | Yes","sources":[{"clause":"C.1","heading":"Annuity Benefit","page":11,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-c-1"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"The policy term is whole of life of the annuitant.","display":"Whole of Life of the Annuitant","note":null,"quote":"Policy Term | Whole of Life of the Annuitant","sources":[{"clause":"A.2","heading":"Policy Schedule","page":4,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-a-2"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"A death claim is required to be intimated within 90 days from the date of death; delay may be condoned for reasons beyond the claimant's control.","display":"Within 90 days from the date of death","note":null,"quote":"The claim is required to be intimated to the Company within a period of 90 days from the date of death, to treat the same as a valid claim. However, delay in intimation of claim or submission of documents for the reasons beyond the control of claimant may be condoned by the Company.","sources":[{"clause":"F.12(vi)","heading":null,"page":29,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-f-12-vi"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Death Certificate, in original, issued by the competent authority","Policy document, in original","Identification proof (bearing photo) of person receiving the Benefit and the Annuitant","Medical treatment records (discharge summary / death summary, investigation reports, etc) if Annuitant has taken treatment for illness leading to his/her death","Bank account details of the claimant along with IFSC code","First Information Report, Inquest and the Final Investigation Report thereof, duly attested by concerned jurisdictional Police Official","Post Mortem Report duly attested by the concerned officials"],"display":"Death certificate, original policy document, photo ID, medical treatment records where applicable, bank account details with IFSC, and for accidental or unnatural deaths FIR/Inquest/Final Investigation Report and Post Mortem Report","note":null,"quote":"i) Death Certificate, in original, issued by the competent authority; ... ii) Policy document, in original; ... iii) Identification proof (bearing photo) of person receiving the Benefit and the Annuitant. ... iv) Medical treatment records (discharge summary / death summary, investigation reports, etc) if Annuitant has taken treatment for illness leading to his/her death. ... v) Bank account details of the claimant along with IFSC code (payment would be made vide NEFT\nonly)\nIn case of death claims arising out of accidents or unnatural deaths\n(i) Death Certificate, in original, issued by the competent authority;\n(ii) Policy document, in original;\n(iii) Identification proof (bearing photo) of person receiving the Benefit and the Annuitant.\n(iv) First Information Report, Inquest and the Final Investigation Report thereof, duly attested by concerned jurisdictional Police Official.\n(v) Post Mortem Report duly attested by the concerned officials.","sources":[{"clause":"F.12(i)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-f-12-i"},{"clause":"F.12(ii)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-f-12-ii"},{"clause":"F.12(iii)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-f-12-iii"},{"clause":"F.12(iv)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-f-12-iv"},{"clause":"F.12(v)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-f-12-v"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["There are no exclusions in this plan."],"display":"There are no exclusions in this plan.","note":"The CIS states there are no exclusions; the policy wording exclusion clause states: \"Not Exclusions\".","quote":"There are no exclusions in this plan. ... Not Exclusions","sources":[{"clause":null,"heading":"Exclusions","page":4,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7214#c-exclusions"},{"clause":"F.14","heading":"Exclusions","page":29,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-f-14"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"For a complaint or grievance, the customer can contact HDFC Life touchpoints or write to the Grievance Redressal Officer at HDFC Life Insurance Company Limited, 11th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai 400011, or email service@hdfclife.com. If not satisfied, the policy provides an escalation matrix before IRDAI or Ombudsman routes.","display":"Grievance Redressal Officer, HDFC Life, Mahalaxmi Mumbai; service@hdfclife.com","note":null,"quote":"i) The customer can contact us any of our touchpoints or write to us at the below mentioned address in case of any complaint/ grievance:\nGrievance Redressal Officer HDFC Life Insurance Company Limited (“HDFC Life”) 11th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai, Maharashtra - 400011 Helpline number: 022-68446530 (Call Charges apply) | NRI Helpline Number: +91 8916694100 (Call Charges Apply) E-mail: service@hdfclife.com | nriservice@hdfclife.com (For NRI customers only)","sources":[{"clause":"G.1(i)","heading":null,"page":29,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-g-1-i"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"not-stated","value":null,"display":null,"note":"The policy gives death benefit formulas and a schedule field for Benefit Paid on Death, but does not state a separate minimum or maximum sum assured.","quote":null,"sources":[],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"Death benefit depends on the annuity option and whether the death occurs during or after any deferment period. Life Annuity has no death benefit for immediate annuity and 105% of Total Premiums Paid if death occurs during the deferment period; return-of-premium and early-return options use the stated return percentage or higher-of accumulated-premium formulas, and Increasing Annuity may pay Single Premium/Total Premium Paid if ROPP is selected or Nil otherwise after deferment.","display":"Varies by option: nil or 105% of Total Premiums Paid for Life Annuity; x% of Total Premiums Paid or higher-of formulas for return options; ROPP-based or Nil for Increasing Annuity","note":"For joint life annuities, the death benefit is payable on the later of the deaths of the two annuitants.","quote":"Annuity Option | Death Benefit\nLife Annuity | • Immediate Annuity: There is no benefit paid on death. • Deferred Annuity: o Death during Deferment Period: 105% of the Total Premiums Paid o Death after Deferment Period: There is no benefit paid on death ... Life Annuity with Return of % of Total Premiums Paid | • Immediate Annuity: x% of Total Premiums Paid • Deferred Annuity: o During Deferment Period, the Death Benefit is higher of either 1. Total Premiums Paid accumulated at 6% p.a. compounded on a daily basis till date of death; or 2. 105% of the Total Premiums Paid ... The percentage (x%) can range from 50% to 100%, as opted by the Policyholder at the inception of the Policy. ... basis till date of death; or\n2. 105% of the Total Premiums Paid\no After Deferment Period, the Death Benefit is higher of\n1. Total Premiums Paid accumulated at 6% p.a. compounded on a daily basis till end of deferment period less Total Annuity Payouts made till date of death\n2. Total Premiums Paid\nLess\nSurvival benefit on milestone age(s) already paid till date of death ... • If Immediate Annuity Option is selected, the death benefit is\n• Single Premium paid if ROPP is selected\n• Nil otherwise\n• If Deferred Annuity Option is selected, the death benefit is\nDeath during Deferment Period\na) If ROPP is selected: Higher of\n1. Total Premium Paid accumulated at 6% p.a. compounded on a daily basis till date of death or\nIncreasing Annuity | 2. 105% of the Total Premium Paid\nb) If ROPP is not selected: 105% of Total Premium Paid\nDeath after Deferment Period\na) If ROPP is selected: Higher of\n1. Total Premium Paid accumulated at 6% p.a. compounded on a daily basis till end of deferment period less Total Annuity Payouts made till date of death\n2. Total Premium Paid\nb) If ROPP is not selected: Nil","sources":[{"clause":"C.3","heading":"Death Benefit","page":13,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-c-3"},{"clause":"1","heading":"Total Premiums Paid accumulated at 6% p.a. compounded on a daily","page":15,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-1-2"},{"clause":null,"heading":"Life Annuity with","page":15,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-life-annuity-with"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"There is no benefit paid on maturity.","display":"No maturity benefit","note":null,"quote":"There is no benefit paid on maturity.","sources":[{"clause":"C.2","heading":"Maturity Benefit","page":13,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-c-2"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Premium paying term can be Single Pay or Limited Pay. From the sales brochure, limited pay is generally 5 to 15 years, with Life Annuity with Return of % of Total Premiums Paid allowing single-life limited pay of 2, 3 and 5 to 15 years and joint-life limited pay of 5 to 15 years.","display":"Single Pay; Limited Pay 5 to 15 years, with 2, 3 and 5 to 15 years for single-life Life Annuity with Return of % of Total Premiums Paid","note":"From the sales brochure. The POSP-channel key feature document states Premium Payment Term is Single Pay.","quote":"Premium Payment Term | Option SL JL Life Annuity SP LP : 5 to 15 years Life Annuity with Return of % of SP SP LP : 5 to Total Premiums Paid LP : 2, 3 and 5 to 15 years 15 years SP Life Annuity with Early Return SP LP : 5 to 15 years SP Increasing Annuity LP : 5 to 15 years SP","sources":[{"clause":null,"heading":"Age (in years)","page":3,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-age-in-years"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"There is no fixed maximum maturity age stated because the policy term is whole of life of the annuitant.","display":"Whole of Life of the Annuitant","note":null,"quote":"Policy Term | Whole of Life of the Annuitant","sources":[{"clause":"A.2","heading":"Policy Schedule","page":4,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-a-2"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"No suicide-specific exclusion or reduced suicide benefit is stated. The CIS states there are no exclusions in this plan.","display":"No suicide exclusion stated; no exclusions in the plan","note":null,"quote":"There are no exclusions in this plan.","sources":[{"clause":null,"heading":"Exclusions","page":4,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7214#c-exclusions"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"conflicting","value":"The policy can be surrendered during the policy term and the surrender value is the higher of GSV or SSV; GSV is acquired immediately for Single Pay and after at least two years' premiums for Limited Pay in the policy wording. SSV applies to return-of-premium options, and for Life Annuity during the deferment period, with timing depending on PPT.","display":"Surrender Value is higher of GSV or SSV; GSV immediately on Single Pay and after at least two years’ premiums for Limited Pay","note":"Policy wording says Limited Pay GSV is acquired \"on payment of at least two years’ premiums\". The lower-priority brochure says: \"on payment of at least one years’ premiums in case of Limited Pay\".","quote":"The Surrender Value is payable immediately on Surrender and the Policy shall be terminated upon payment of Surrender Value. ... The Policy acquires a Surrender Value which is higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). ... The Policy acquires Guaranteed Surrender Value (GSV) immediately on payment of premium in case of Single Pay and on payment of at least two years’ premiums in case of Limited Pay. ... Surrender value payable will be equal to the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). Guaranteed Surrender Value (GSV) The policy acquires Guaranteed Surrender Value (GSV) immediately on payment of premium in case of Single Pay and on payment of at least one years’ premiums in case of Limited Pay","sources":[{"clause":"D.4.2","heading":"Surrender Benefit","page":20,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-d-4-2"},{"clause":"D.4.2.1","heading":"Surrender Value","page":20,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-d-4-2-1"},{"clause":"D.4.2.2","heading":"Guaranteed Surrender Value (GSV)","page":20,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-d-4-2-2"},{"clause":"7","heading":"Surrender Benefit","page":24,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-7"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"For Single Premium policies, reduced paid-up is not applicable. For Limited Premium policies, after at least the first full years' premium has been paid, the policy becomes Reduced Paid Up on expiry of the grace period if further premiums are not paid and the policy is not surrendered.","display":"Single Premium: not applicable; Limited Premium: reduced paid-up after at least first full years’ Premium have been paid","note":null,"quote":"Not applicable for Single Premium policies.\nFor Limited Premium policies, if at least first full years’ Premium have been paid and no further Premiums are paid and the Policy is not surrendered, the Policy will acquire the status of Reduced Paid Up on the date of expiry of Grace Period up till the Policy is revived for full Benefits.\nThe revised annuity rate payable shall be as follows:\nTotal premiums paid Paid-upAnnuityrate= Annuityrate × Total Premiums Payable","sources":[{"clause":"D.4.1","heading":"Reduced Paid-up Value","page":19,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-d-4-1"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A lapsed policy may be revived before the policy maturity date but within five years from the due date for payment of the first unpaid premium, subject to company approval, underwriting, evidence of insurability and payment of arrears with interest or revival charge.","display":"Within five years from the due date for payment of the first unpaid Premium","note":null,"quote":"Subject to the approval of the Company and the prevailing board approved underwriting Policy, this Policy, if lapsed, may be revived for full Benefits before the Policy Maturity Date but within five years from the due date for payment of the first unpaid Premium provided that;","sources":[{"clause":"D.3.1","heading":null,"page":18,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-d-3-1"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Loan can be availed under options where there is a Return of Premiums Paid. The maximum loan amount cannot exceed 80% of available surrender value, the loan must be at least Rs.1, 000, and the effective annual interest amount on loan cannot exceed 50% of annual annuity amount.","display":"Available under Return of Premiums Paid options; up to 80% of available surrender value, minimum Rs.1, 000","note":null,"quote":"• Loan can be availed under the options where there is a Return of Premiums Paid. ... • The maximum loan amount that will be advanced at any one time or more than one time shall not exceed 80% of the available surrender value at that point of time and provided that the amount of the loan is not less than Rs.1, 000. ... • Maximum amount of loan that can be granted under the policy shall be such that the effective annual interest amount payable on loan does not exceed 50% of the annual annuity amount payable under the policy.","sources":[{"clause":"D.5","heading":"Policy Loan","page":22,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-d-5"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"not-stated","value":null,"display":null,"note":"The policy schedule has a Rider(s) field and a generic Rider Benefits clause, but the documents provided do not name any available riders.","quote":null,"sources":[],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"No life insurance policy can be called in question on any ground after expiry of 3 years from the later of issuance, commencement of risk, revival or rider date. Within 3 years it may be questioned for fraud, and also for material misstatement with written communication; for non-fraud misstatement repudiation, premiums collected are payable within 90 days from repudiation.","display":"Cannot be questioned after 3 years; within 3 years only on stated fraud or material misstatement grounds","note":null,"quote":"No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 years from\na) the date of issuance of Policy or\nb) the date of commencement of risk or\nc) the date of revival of Policy or\nd) the date of Rider to the Policy whichever is later. ... On the ground of fraud, a Policy of Life Insurance may be called in question within 3 years from ... Life insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of a fact material to expectancy of life of the insured was incorrectly made ... In case repudiation is on ground of misstatement and not on fraud, the premium collected on Policy till the date of repudiation shall be paid to the insured or legal representative or Nominee or assignees of insured, within a period of 90 days from the date of repudiation.","sources":[{"clause":"01","heading":null,"page":41,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-01-2"},{"clause":"02","heading":null,"page":41,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-02-2"},{"clause":"06","heading":null,"page":41,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-06-2"},{"clause":"07","heading":null,"page":41,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-07-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"not-stated","value":null,"display":null,"note":"The policy states how applicable taxes are deducted or paid, but does not state tax benefits.","quote":null,"sources":[],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":null,"quote":"the insured shall have the option of returning the policy to us stating the reasons thereof, within 30 days from the date of receipt of the policy whether received electronically or otherwise.","sources":[{"clause":"D.1","heading":"Free Look Provisions","page":18,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-d-1"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":15},"display":"15 days for monthly mode and 30 days in all other cases","note":"30 days applies in all cases other than monthly premium payment.","quote":"The grace period for payment of the premium for all types of life insurance policies shall be fifteen days, where the policyholder pays the premium on a monthly basis and 30 days in all other cases.","sources":[{"clause":"C.4.4","heading":"Grace Period","page":17,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-c-4-4"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"From the sales brochure, the youngest entry age is 18 years for some Single Pay options and the oldest entry age is 100 years for some Single Pay immediate annuity options, subject to the chosen option, premium type and annuitant type. The POSP channel has entry age 40 years to 70 years.","display":"18 years to 100 years, depending on option; POSP channel 40 years to 70 years","note":"From the sales brochure. Minimum and maximum ages differ by annuity option, Single Pay or Limited Pay, single or joint life, QROPS/QOPS and POSP channel.","quote":"Life Annuity | SP: 18 years LP: 45 years\nLife Annuity with Return of % of Total Premiums Paid | SP: 18 years LP: 40 years\nLife Annuity with Early Return | SP: 30 years LP: 45 years | SP: 30 years\nIncreasing Annuity | SP: 18 years LP: 45 years | SP: 18 years ... If this product is purchased as QROPS through transfer of UK tax relieved assets or as QOPS, the minimum entry age will be 55 years. ... Life Annuity | SP Immediate Annuity: 100 years Deferred Annuity: 99 years, subject to annuity commencing at a maximum age of 100 years ... Plan at a glance (Eligibility Criteria for POSP Channel^):\nMinimum Age at Entry (last birthday) | 40 years\nMaximum Age at Entry (last birthday) | 70 years","sources":[{"clause":null,"heading":"Key reasons to buy","page":2,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-key-reasons-to-buy"},{"clause":null,"heading":"Age (in years)","page":3,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-age-in-years"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Single","Yearly","Half- Yearly","Quarterly","Monthly"],"display":"Single, Yearly, Half- Yearly, Quarterly, Monthly","note":null,"quote":"Purchase Price/Premium Payment Mode | <Single, Yearly, Half- Yearly, Quarterly, Monthly >","sources":[{"clause":"A.2","heading":"Policy Schedule","page":4,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-a-2"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Single Payment","Limited Payment"],"display":"Single Payment / Limited Payment","note":null,"quote":"A | Life Annuity | Single Payment/Limited Payment | SL/JL | Yes\nB | Life Annuity with Return of % of Total Premiums Paid | Single Payment/Limited Payment | SL/JL | Yes\nC | Life Annuity with Early Return | Single Payment/Limited Payment | SL/ JL (only with SP) | Yes\nD | Increasing Annuity | Single Payment/Limited Payment | SL/ JL(only with SP) | Yes","sources":[{"clause":"C.1","heading":"Annuity Benefit","page":11,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-c-1"}],"law":[]},{"key":"annuity_options","label":"Annuity options","section":"Cover","meaning":"Life annuity, joint life, return of purchase price, increasing annuity...","status":"quote-verified","value":["Single Life Annuity","Joint Life Annuity","Life Annuity","Life Annuity with Return of % of Total Premiums Paid","Life Annuity with Early Return","Increasing Annuity"],"display":"Single Life or Joint Life; Life Annuity, Life Annuity with Return of % of Total Premiums Paid, Life Annuity with Early Return, Increasing Annuity","note":null,"quote":"The Annuity Benefit will also depend on Annuity Type which can be Single Life Annuity or Joint Life Annuity, as opted by the Policyholder at the inception of the Policy. ... Brief summary of the plan options available under the product:\nPlan Option | Name | Premium Payment Option | Single Life | Deferment Option\nName (SL)/Joint Life (JL)\nA | Life Annuity | Single Payment/Limited Payment | SL/JL | Yes\nB | Life Annuity with Return of % of Total Premiums Paid | Single Payment/Limited Payment | SL/JL | Yes\nC | Life Annuity with Early Return | Single Payment/Limited Payment | SL/ JL (only with SP) | Yes\nD | Increasing Annuity | Single Payment/Limited Payment | SL/ JL(only with SP) | Yes","sources":[{"clause":"C.1","heading":"Annuity Benefit","page":11,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-c-1"}],"law":[]},{"key":"purchase_price_min","label":"Minimum purchase price","section":"Eligibility","meaning":"Smallest lump sum or annuity accepted.","status":"quote-verified","value":"From the sales brochure, minimum premium is Single Pay Rs. 50,000 and Limited Pay Rs. 30,000 annual, Rs. 15,300 half-yearly, Rs. 7,800 quarterly or Rs. 2,625 monthly; minimum annuity payout must also be met.","display":"Single Pay Rs. 50,000; Limited Pay Rs. 30,000 annual, Rs. 15,300 half-yearly, Rs. 7,800 quarterly, Rs. 2,625 monthly","note":"From the sales brochure. The POSP-channel key feature document also states Single Pay minimum premium of Rs. 50,000.","quote":"Minimum Premium Amount | a. Single Pay (SP) : Rs. 50,000 b. Limited Pay (LP) : Rs. 30,000 (Annual) | Rs. 15,300 (Half Yearly) | Rs. 7,800. (Quarterly) | Rs. 2,625 (Monthly) In addition to the limits above, the minimum premium shall be such that the minimum annuity payouts can be made.","sources":[{"clause":null,"heading":"Age (in years)","page":3,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-age-in-years"}],"law":[]},{"key":"deferment","label":"Deferment period","section":"Cover","meaning":"For deferred plans, how long before income starts.","status":"quote-verified","value":"Immediate annuity has a deferment period of 0 years. For deferred annuity, the sales brochure states minimum deferment as 1 year for Single Pay and equal to PPT for Limited Pay, and maximum deferment as 10 years for ages less than 30 and 15 years for ages 30 onwards; Limited Pay maximum is 15 years.","display":"Immediate: 0 years; Deferred: minimum 1 year for SP or equal to PPT for LP, maximum 10 years for ages less than 30 and 15 years for ages 30 onwards","note":"From the sales brochure. For Life Annuity with Early Return, deferment must keep the primary annuitant's age at the end of deferment less than or equal to the first milestone age.","quote":"Minimum/ Maximum Deferment Period | For Immediate Annuity, the deferment period will be 0 years. For Deferred Annuity, the limits will be as below: Minimum Maximum Plan Option (in years) (in years) Life Annuity SP: 10 years Life Annuity with Return of % for age(s) Total Premiums Paid less than SP: 1 year 30 and 15 LP: Equal to PPT Life Annuity with years Early Return3 for age(s) 30 onwards Increasing Annuity SP: 1 year LP: 15 years In the case of Joint life annuities, the age limits for the allowed deferment period apply to both lives. Deferment period shall start from policy inception date and can be different from the premium paying term.","sources":[{"clause":null,"heading":"Age (in years)","page":3,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-age-in-years"}],"law":[]},{"key":"annuity_frequency","label":"Payout frequency","section":"Cover","meaning":"Monthly, quarterly, half-yearly, yearly.","status":"quote-verified","value":["Yearly","Half- Yearly","Quarterly","Monthly"],"display":"Yearly, Half- Yearly, Quarterly, Monthly","note":null,"quote":"Annuity Payout Mode | Frequency of Payout: <Yearly, Half- Yearly, Quarterly, Monthly > <Due Date of Payment: >","sources":[{"clause":"A.2","heading":"Policy Schedule","page":4,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077#c-a-2"}],"law":[]},{"key":"annuity_rate_example","label":"Example annuity rate","section":"Cover","meaning":"An example from the document; rates change with age and over time.","status":"quote-verified","value":"In the sales brochure example, Mr. Rahul aged 60 pays a single premium of Rs.10,00,000 under Option A - Life Annuity and receives annual annuity of Rs. 86,500 p.a. in arrears for whole life.","display":"Age 60, Rs.10,00,000 single premium, Life Annuity: Rs. 86,500 p.a.","note":"From the sales brochure; annuity rates depend on option, age, purchase price and payout mode.","quote":"Mr. Rahul, aged 60 years, chooses to smartly plan his retirement to receive sufficient lifelong annuity. He invests in HDFC Life Smart Pension Plus by paying a single premium of Rs.10,00,000 and opts for Option A - Life Annuity and opts to receive his annual annuity for whole life starting immediately. ... Annuity of ` 86,500 p.a. to be paid in arrears for whole life. The first annuity payout will paid at the end of 1st year. Survival Benefit – On his survival , Mr. Rahul will start receiving guaranteed Annuity of Rs. 86,500 p.a. from the end of 1st policy year for whole life.","sources":[{"clause":"4(i)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-4-i"},{"clause":null,"heading":"Annuity Payout Term","page":13,"url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050#c-annuity-payout-term"}],"law":[]}],"documents":[{"kind":"wording","label":"HDFC Life Smart Pension Plus V13_Policy Document_Individual 101N173V13","pages":42,"fetched_at":"2026-10-17 19:42:01+00","source_url":"https://www.hdfclife.com/content/dam/hdfclifeinsurancecompany/customer-services/policy-documents-pdf/retirement-live/hdfc-life-smart-pension-plus-v13-policy-document-individual.pdf","url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7077"},{"kind":"wording","label":"HDFC Life Smart Pension Plus_101N173V01_Individual Policy Document","pages":32,"fetched_at":"2026-10-17 20:17:43+00","source_url":"https://www.hdfclife.com/content/dam/hdfclifeinsurancecompany/customer-services/policy-documents-pdf/retirement-withdrawn/HDFC-Life-Smart-Pension-Plus-101N173V01-Individual-Policy-Document.pdf","url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/8056"},{"kind":"wording","label":"HDFC Life Smart Pension Plus 101N173V01 Group Policy Document","pages":34,"fetched_at":"2026-10-17 20:17:45+00","source_url":"https://www.hdfclife.com/content/dam/hdfclifeinsurancecompany/customer-services/policy-documents-pdf/retirement-withdrawn/HDFC-Life-Smart-Pension-Plus-101N173V01-Group-Policy-Document.pdf","url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/8057"},{"kind":"cis","label":"HDFC Life Smart Pension Plus V13_Key Feature Document_POS","pages":4,"fetched_at":"2026-10-17 19:46:57+00","source_url":"https://www.hdfclife.com/content/dam/hdfclifeinsurancecompany/customer-services/key-feature-document/conventional-plans/hdfc-life-smart-pension-plus-v13-key-feature-document-pos.pdf","url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7214"},{"kind":"brochure","label":"HDFC Life Smart Pension Plus","pages":44,"fetched_at":"2026-10-17 19:41:09+00","source_url":"https://www.hdfclife.com/content/dam/hdfclifeinsurancecompany/customer-services/brochure-documents-pdfs/retirement-annuity-live/HDFC-Life-Smart-Pension-Plus.pdf","url":"https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13/document/7050"}],"versions":[{"uin":"101N173V01","version":null,"approved_on":null},{"uin":"101N173V13","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"HDFC Life Insurance official website","url":"https://www.hdfclife.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims","url":"https://www.hdfclife.com/claims","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://www.hdfclife.com/customer-service/grievance-redressal","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"HDFC Life Smart Pension Plus (UIN 101N173V13), IndiaInsurances, https://indiainsurances.com/policy/hdfc-life-insurance/hdfc-life-smart-pension-plus-101n173v13"}