HDFC Life · Retirement · Deferred Annuity
Systematic Income Plan
An annuity plan that lets you choose between a fully guaranteed pension or one partly linked to Nifty 50, aiming for a chance at higher income alongside your family getting the purchase price back.
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
An annuity plan that lets you choose between a fully guaranteed pension or one partly linked to Nifty 50, aiming for a chance at higher income alongside your family getting the purchase price back.
You might need this if…
- You might need this if you want guaranteed retirement income but are also open to some market-linked upside.
- You might need this if you want your family to get the purchase price back on your death, not just stop receiving payments.
- You might need this if you're comfortable entering the plan a bit later — minimum entry age is 40.
- You might need this if you want a **lump sum advance** against future guaranteed payouts for a specific need, rather than only periodic payments.
How it actually works
- Three options: Life Annuity (fully fixed, no death benefit), Life Annuity with Return of Purchase Price (fixed rate plus full premium back to nominee), and Variable Annuity with Return of Purchase Price (60% guaranteed + 40% linked to Nifty 50 performance, plus premium return).
- Entry age 40 to 73-75 depending on Single Pay or Limited Pay; Single Pay minimum ₹50,000, Limited Pay minimum ₹5,00,000/year over 2-10+ years.
- Payout frequencies include annual, half-yearly, quarterly, and monthly (monthly not available for the Variable Annuity option).
- An Annuity Advance Option allows a lump-sum advance of up to 30% of premiums against future guaranteed annuity, for up to 5 years.
- A Smart Legacy Option lets nominees take the death benefit as installments over 2-15 years instead of a lump sum.
- Policy loans (Options B and C only) of up to 80% of surrender value are available at around 9% p.a.
Worked example
For a ₹10 lakh single premium at age 60: Option A (Life Annuity) pays about ₹86,500/year with no death benefit; Option B pays about ₹62,200/year plus the full ₹10,00,000 returned to the nominee on death; Option C's payout varies with Nifty 50 performance, on top of the ₹10,00,000+ death benefit.
Worth knowing before you decide
- The Variable Annuity option's payout can go up or down with the Nifty 50 benchmark — it isn't guaranteed like the other options.
- Choosing Option A (plain Life Annuity) means nothing goes to your family if you die after starting the annuity.
- Surrender isn't available at all for the pure Life Annuity option, and NPS-sourced policies generally can't be surrendered except in specific regulatory cases.
- Loans and surrender rely on the higher of Guaranteed and Special Surrender Value, which can be low in early years.
Official source
⌟ Official product brochure
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