Under 'HDFC Life Pension Guaranteed Plan' one has the choice to decide on the annuity rate at the date of purchase of the policy, which can go up to as high as 13 per cent, said Srinivasan Parthasarathy, Senior Executive Vice President, Chief Actuary and Appointed Actuary, HDFC Life.
"Customers need not wait for their retirement to decide on the annuity rate. The deferred annuity option gives the early planners the choice of a guaranteed annuity rate at the time of the purchase," he said.
The annuity product comes in two variants of single life basis for self and a joint life basis for self and spouse.
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