HT Bureau

GUWAHATI, March 25: HDFC Life launched HDFC Life Smart Pension Plus – a plan that enables customers to achieve financial independence after retirement, in the form of a regular and guaranteed stream of income, similar to a ‘salary’. The plan has been designed to cater to individuals who want to save and create a financial safety net for themselves while they earn to be able to continue with their current lifestyle after retirement in their golden years. The product offers flexibility to cover oneself as well as one’s spouse, decide the premium payment term, frequency of pay-out and a choice to take income immediately or after a few years.

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Speaking on the launch, Aneesh Khanna, Head – Products & Segments, HDFC Life said, “The retirement savings gap in India is projected to reach USD 85 trillion by 2050#. With rising inflation, increasing healthcare costs and higher life expectancy, it is imperative for individuals to plan for regular income post their earning years. Our latest offering, HDFC Life Smart Pension Plus is a unique annuity plan that can be customised to meet specific requirements for life after retirement. This plan offers multiple bespoke guaranteed income options and enables customers to save adequately for their retired life. We believe the option to make regular premium payments and take joint life cover will enable a larger section of our country’s population to plan for their golden years, well in advance.”