Super Pension

8/8/2019 Super Pension

http://slidepdf.com/reader/full/super-pension 1/18

HDFC Standard Life

Insurance Company

Limited

Pension Super UPA

Superlow

charges

No

Medicals

VestingBenefits

DeathBenefits

SuperBumper

Addition



HDFC Standard Life

Insurance Company

Limited

Product Features

Benefits

Sum Assured and Premium

Ot ers Features

C ar es



HDFC Standard Life

Insurance Company

Limited

Product Features

1) Hi Allocation rate

2) No Medicals3) Facility AAO and STO

4) No surrender c ar es if t e policy issurrendered after t e 5t policy anniversary.

5) Tax Benefit Section 80(CCC) of IncomeTax Act, 1961

6) Backdatin is not allo ed



HDFC Standard Life

Insurance Company

Limited

Benefits

Vestin Benefit

Deat Benefit

Surrender Benefit



HDFC Standard Life

Insurance Company

Limited

Vestin Benefit

On vesting, the unitised fund value plus Bumper

Additions will be provided for purchasing annuities.

µBumper Addition¶ will be payable, if all the regular premiums, at a level equal to or greater than the

original annualised premium chosen at inception, have

been paid when due during atleast the original policy

term. If the term has been reduced, the policy holder

will not be eligible for Bumper Addition.



HDFC Standard Life

Insurance Company

Limited

On death, the benefit payable will be Sum Assured plus Unit

Fund Value.

Please note no Bumper Additions are payable on death.

Deat Benefit



HDFC Standard Life

Insurance Company

Limited

Surrender Benefit

The policyholder can surrender the policy. The

amount payable will be the unitised fund value

after applying Surrender Charges, if any.In surrender, status of the policy will change to

µSU - Surrender¶ status. On surrender, the units

available in the funds will be de-allocated and the

net fund value after deducting the surrender

charges will move to Surrender Suspense (LP

PS). Surrender amount would be held with us and

will be paid only on the completion of third policyanniversary. This will be a system control.

Controlling payout of the surrendered amount

shall be done through a MIS report.



HDFC Standard Life

Insurance Company

Limited

Sum Assured and Premium

Frequency Amount Applicable

Annual Rs. 15000.00 Per Annum

Half Yearly Rs. 8000.00 Per Half Yearly

Monthly Rs. 2000.00 Per Month

Minimum Premium: T e validation for minimum

annual premium, alf yearly premium and mont ly premium is setup in t e system.

Maximum Premium: T ere s all be no limit on t e

maximum premium/s applicable for UAP



HDFC Standard Life

Insurance Company

Limited

Premium paid during year (Rs.) / Premium

frequency

Normal & ECS Allocation Rate

Yearly & Half Yearly Monthly

Regular Premiums ± Year 1

15,000 to 1,99,999 85.00% 80.00%

2,00,000 to 4,99,999 87.50% 82.50%

5,00,000 to 19,99,999 90.00% 85.00%20,00,000+ 92.00% 87.00%


15,000 to 1,99,999 90.00% 85.00%

2,00,000 to 4,99,999 90.00% 85.00%

5,00,000 to 19,99,999 90.00% 85.00%

20,00,000+ 94.00% 89.00%


15,000 to 1,99,999 95.00% 95.00%

2,00,000 to 4,99,999 95.00% 95.00%

5,00,000 to 19,99,999 95.00% 95.00%

20,00,000+ 96.00% 96.00%

Regular Premiums ± Year 4+ 97.00% 97.00%

Single Premium Top-Up(s) ± Year 1 & 2 97.50% 97.50%

Single Premium Top-Up(s) ± Year 3+ 98.00% 98.00%

Premium Allocation Rates

Premium Allocation Rates



HDFC Standard Life

Insurance Company

Limited

Minimum Sum Assured

The minimum Sum Assured applicable for UAP

is Rs. 1000.00.The Sum Assured field shall be

auto-populated. At any point of time in future,

this field cannot be made editable.

Maximum Sum Assured

The maximum Sum Assured applicable for UAP is Rs. 1000.00.The Sum Assured field

shall be auto-populated. At any point of time in

future, this field cannot be made editable.



HDFC Standard Life

Insurance Company

Limited

Code Description

LQ2P Liquid Fund II

T2P t l n d Fund II

C2P cur n d Fund II

D 2P D f nsiv n d Fund II

B 2P B l nc d n d Fund II

E 2P Equity n d Fund II

GT2P Growth Fund II

Fund Choices



HDFC Standard Life

Insurance Company

Limited

Premium redirection/Fund switch/STO Requests

Between the Inception date and the First Policy Anniversary date,

System should not allow a Fund switch/Premium Redirection/STO

registration request.

Ot ers Features

Lapsation

If the premiums are not paid within the first 3 policy years and

before the expiry of the grace period, the policy should be lapsed.Operations user shall manually lapse the policy. Once the policy

has been lapsed, the fund value less Discontinuance Charges will

be held in suspense (LP L) and the policy status shall be LU (UL

Lapse). All other functionality of Lapse processing shall be taken in

the subsequent phase of development.



HDFC Standard Life

Insurance Company

Limited

Cancellation in Free look Period

1.During the cancellation of the policy in the free-

look period, Life Asia shall refund the below

mentioned amount

unallocated part of the premium

plus charges levied by cancellation of unitsplus fund value at the date of receipt of request for

cancellation in the free-look period (subject to cut-off times)

less Stamp Duty

less Medical expenses incurred due to underwriting (not

applicable to this product)

less Mortality Charges for the period under cover (not

applicable to this product)

Life Asia will have a validation that the minimum value for refund will be zero (0). To process this cancellation in free-look

period, the menu currently used for cancelling all the unit-linked

policies in the free-look period will continue to be used.



HDFC Standard Life

Insurance Company

Limited

Loyalty Units

System shall not process loyalty units.

Partial Withdrawal

System shall not allow partial withdrawal. This validation is set in

T5687 & T6598



HDFC Standard Life

Insurance Company

Limited



HDFC Standard Life

Insurance Company

Limited

C ar es

Policy Administration Charge

A Policy Administration Charge of Rs. 50 per month will be deducted by cancellation of units on

each monthly charge date. This charge will be

increased by 5% on each policy anniversary

Charges Maximum Cap

Fund Management Charge As specified by IRDA.

Policy AdministrationCharge

Policy Administration Charge is guaranteed for the policyterm.

Switching Charge Rs. 500 per switch.

Premium RedirectionCharge

Rs. 500 per request.

Revival Charge Rs. 500 per request.

Additional ServicingCharge

Rs. 500 per request.

Outstation ChequesCharge Rs. 500 per instrument



HDFC Standard Life

Insurance Company

Limited

No. of Original Annualised Regular

Premiums not paid in the first 5

years

Surrender Charge

4 95% of Fund Value

3 50% of Fund Value

2 30% of Fund Value

1 15% of Fund Value

0 NIL

Surrender Charge

The Surrender Charge will become applicable if the policy is

surrendered by the Policyholder or automatically surrendered at any

time, before the expiry date. Before the payment of the premium due

on the 1st policy anniversary, the Surrender charge is 100% of the

Fund Value. Thereafter the Surrender Charge applicable is shown inthe table below.

Surrender Charge after the payment of the premium due on the 1st

policy anniversary



HDFC Standard Life

Insurance Company

Limited

Thank You

Documents

Super Pension