Pension plans, usually, do not offer any sum assured to the policyholders. HDFC SL Pension Maximus, however, offers a fixed sum assured of 1,000 to the nominee of the policyholder along with the fund value in the event of the death of the policyholder.
For Existing Customers
It does not really make sense for existing investors to exit the scheme as they have already paid quite a bit of charges. Since the scheme has a limited policy term of 10 years, investors should rather focus on choosing the insurer that provides the best possible annuity rates at the end of their policy term.
For Those Looking to Invest
The only USP of this single-premium pension plan is the surety of a fixed sum assured of 1,000 to the nominee in case of the death of the policyholder, which is quite mediocre in the current times and more so if one considers the time value of money for the coming 10 years. The scheme, as such, appears expensive in comparison to its peers with no significant value addition.
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