HDFC Standard Life

Insurance Company
Limited

Pension Super UPA

Super low
charges
Super
Bumper
Addition

No
Medicals

Death
Benefits

Vesting
Benefits
 HDFC Standard Life
Insurance Company
Limited

Product Features

Benefits

Sum Assured and Premium

Others Features

Charges
 HDFC Standard Life
Insurance Company
Limited

Product Features
1) High Allocation rate
2) No Medicals
3) Facility AAO and STO
4) No surrender charges if the policy is
surrendered after the 5th policy anniversary.
5) Tax Benefit Section 80(CCC) of Income
Tax Act, 1961
6) Backdating is not allowed
 HDFC Standard Life
Insurance Company
Limited

Benefits

Vesting Benefit

Death Benefit

Surrender Benefit
 HDFC Standard Life
Insurance Company
Limited

Vesting Benefit

On vesting, the unitised fund value plus Bumper

Additions will be provided for purchasing annuities.
‘Bumper 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

Death Benefit

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

Fund Value.
Please note no Bumper Additions are payable on death.
 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
‘SU - 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 policy
anniversary. 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

Minimum Premium: The validation for minimum
annual premium, half yearly premium and monthly
premium is setup in the system.

Frequency Amount Applicable

Annual Rs. 15000.00 Per Annum

Half Yearly Rs. 8000.00 Per Half Yearly

Monthly Rs. 2000.00 Per Month

Maximum Premium: There shall be no limit on the

maximum premium/s applicable for UAP
 Premium Allocation Rates

HDFC Standard Life

Insurance Company
Limited
Premium Allocation Rates
Premium paid during year (Rs.) / Premium Normal & ECS Allocation Rate
frequency 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%
 
Regular Premiums – Year 2
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%
 
 Regular Premiums – Year 3
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%
 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

Fund Choices
Code Description

LQ2P Liquid Fund II

ST2P Stable Managed Fund II

SC2P Secure Managed Fund II

DM2P Defensive Managed Fund II

BM2P Balanced Managed Fund II

EM2P Equity Managed Fund II

GT2P Growth Fund II

 HDFC Standard Life
Insurance Company
Limited

Others Features
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.

•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 units
•plus 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

Charges
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 Administration Policy Administration Charge is guaranteed for the policy
Charge term.
Switching Charge Rs. 500 per switch.
Premium Redirection
Rs. 500 per request.
Charge
Revival Charge Rs. 500 per request.
Additional Servicing
Rs. 500 per request.
Charge
Outstation Cheques
Rs. 500 per instrument
Charge
 HDFC Standard Life
Insurance Company
Limited

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 in the table below.
Surrender Charge after the payment of the premium due on the 1 st
policy anniversary

No. of Original Annualised Regular

Premiums not paid in the first 5 Surrender Charge
years
4 95% of Fund Value
3 50% of Fund Value
2 30% of Fund Value
1 15% of Fund Value
0 NIL
HDFC Standard Life
Insurance Company
Limited

Thank You