HDFC Life · Retirement · Deferred Annuity
Aajeevan Growth Nivesh and Income
A single-premium annuity plan offering a choice between a fully guaranteed lifelong income, one with your purchase price returned to family, or one partly linked to Nifty 50 for potential upside.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeRetirement / Pension
CategoryDeferred Annuity
InsurerHDFC Life
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureNot available in the current product data
LiquidityNot available in the current product data
Lock-inNot available in the current product data
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
A single-premium annuity plan offering a choice between a fully guaranteed lifelong income, one with your purchase price returned to family, or one partly linked to Nifty 50 for potential upside.
You might need this if…
- You might need this if you have a lump sum (₹50,000+) to convert into guaranteed lifelong income starting at age 40 or later.
- You might need this if you want your family to get the full purchase price back on your death rather than payments simply stopping.
- You might need this if you're open to a portion of your income being linked to market performance (Nifty 50) for potential higher payouts.
- You might need this if you'd like a lump-sum advance against future guaranteed payouts for a specific need.
How it actually works
- Three options: Option A - Life Annuity (no death benefit, invests 100% of purchase price for the highest fixed payout), Option B - Life Annuity with Return of Purchase Price, and Option C - Variable Annuity with Return of Purchase Price (60% guaranteed, 40% linked to Nifty 50 with a fixed 38% performance factor).
- Entry age 40-75; minimum single premium ₹50,000 for Options A/B, ₹5,00,000 for Option C; joint life allowed with spouse as secondary annuitant.
- An Annuity Advance Option (Options B/C, after 1 year) provides a lump sum up to 5 years' guaranteed annuity, capped at 30% of total premiums per withdrawal.
- A Smart Legacy Option lets nominees choose 2-15 year installments instead of a lump-sum death benefit.
- Policy loans (Options B/C) up to 80% of surrender value at around 9% p.a.; premium bands of ₹2.5 lakh+ earn enhanced annuity rates of 0.15%-0.55%.
- GST is currently 0% on individual life insurance policies (effective since September 2025), which effectively boosts the amount invested.
Worked example
A ₹10 lakh single premium under Option A pays about ₹86,500/year for life with no death benefit; under Option B it pays about ₹62,200/year plus the full ₹10 lakh returned on death. A ₹1 crore investment under Option C yields roughly ₹3.82 lakh guaranteed each year plus a variable component linked to Nifty 50.
Worth knowing before you decide
- Option C's variable component can rise or fall with the Nifty 50 — it isn't guaranteed.
- Option A (plain Life Annuity) has zero surrender value and no payout to family on death.
- Once purchased, the guaranteed portion's rate is fixed for life and can't be renegotiated.
- Monthly payout frequency is not available under Option C.
Official source
⌟ Official product brochure
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