Chennai: HDFC Life has announced the launch of Saral Pension, a single premium, non-linked, non-participating product that offers life-long guaranteed annuity rates, right at the time of purchase.
According to the company, it is a standard, individual, immediate annuity product with simple features and standard terms and conditions that enables customers to make an informed decision for planning their retirement.
Srinivasan Parthasarathy, chief actuary, HDFC Life, said: “Annuity plans are suitable for individuals who are closer to retirement age or have retired. These plans can act as a safeguard against market volatilities and falling interest rates.”