Health First Plan

Why Invest in Health First Plan?

An Individual Non-linked Non-Par Pure Risk Premium Health Insurance plan that is affordable and provides you with a lump-sum amount on the occurrence of Heart, Cancer related conditions and on pre-defined 26 Major Critical Illnesses. The plan is designed in such a way that it provides you complete freedom to pick and choose the cover you need, and also provides multiple customization options to best suit your requirements. The lump-sum amount paid can help you overcome the immediate medical expenses without compromising on your lifestyle.


  • Option to cover yourself against Heart ailments, Cancer conditions or Major Critical Illness
  • High coverage at affordable premiums
  • Increasing cover option to take care of increasing medical needs
  • Lump-sum payout on the first diagnosis of illness irrespective of actual amount spent on treatment
  • Waiver of all future premiums on first diagnose of Minor Conditions covered under Cancer Cover and Heart Cover
  • Option of additional monthly income in case of Major Claim (Heart and Cancer Cover) & Major Critical Illness Cover
  • Get total premiums paid (Excluding Underwriting Extras Premiums) back on maturity, under Major Critical Illness Cover, if Return of Premium Option is opted (if there is no claim during the Policy Term)

Eligibility Criteria


Entry Age (Life Assured)

18 years

65 years

Maturity Age

23 years

80 years


Lump-sum payout on diagnosis:

This plan provides lump-sum payout on the first diagnosis of covered illness, irrespective of actual amount spent on treatment, to help you recover without any financial stress.

Major Critical Illness Cover

This option offers you cover against 26 Major Critical Illnesses. When a major Critical Illness strikes, it can place a huge burden on you and your family, not only because of the medical expenses, but also because you may have to take a break from work. To protect you against the financial burden, we will pay you the applicable Sum Assured as lump-sum to meet your financial needs. The benefit is payable irrespective of the actual expenses incurred by you.

This product provides a lump-sum equal to the applicable Sum Assured on first diagnosis of a Major Critical Illness or undergoes first performance of any of the listed surgeries in relation to a Major Critical Illness. On the payment of applicable Sum Assured, coverage will terminate immediately.

Heart Cover and Cancer Cover

The plan offers comprehensive cover for Heart and Cancer related ailments. You can choose the cover which you need at inception.

The benefits payable under Heart or Cancer Cover (as applicable) will be paid as a lump-sum upon first diagnosis of any of the illnesses / first performance of any of the covered surgeries (as listed below). The payout depends on the severity of the diagnosed condition (Major/Minor Condition) and claims previously admitted under this Policy. The maximum claim payable in this Policy shall not exceed 100% of the applicable Sum Assured.

If the Life Assured is diagnosed to be suffering from Cancer or Heart disease of defined severity, a percentage of the applicable Sum Assured will be paid, as per below schedule:

Cancer Cover
Heart Cover
Minor Condition

25% of applicable Sum Assured for Cancer Cover

25% of applicable Sum Assured for Heart Cover

Major Condition (after occurrence of Minor Condition claim)

75% of applicable Sum Assured of Cancer Cover

75% of applicable Sum Assured of Heart Cover

Major Condition (without occurrence of any Minor Condition claim)

100% of applicable Sum Assured of Cancer Cover

100% of applicable Sum Assured of Heart Cover

Only one claim is permissible under each of these Conditions (Major/Minor). In any case, the total payout in the Policy cannot exceed 100% of the applicable Sum Assured for each cover.

Premium Waiver Benefit:

In Heart and Cancer Cover the plan continues even after the first pay-out for a Minor Condition Claim is made, without you having to pay any future premiums for the applicable coverage under which the claim is made.

Other Benefits

Increasing Cover Option:

You have the option of taking Increasing Cover under all the three plan options (Major Critical Illness Cover, Heart Cover, Cancer Cover) at proposal stage. Increasing Cover option helps you take care of growing medical expenses. Under this option, the initial Sum Assured increases by 10% (simple rate) every year starting from the first policy anniversary, until the first claim is made. The Sum Assured can go up to a maximum of 150% of initial Sum Assured.

If you have opted for Increasing Cover option at inception and there is claim during the Policy Term and the Policy is in-force you will receive a lump-sum payout basis the Increased Sum Assured.

For example, when you choose a Sum Assured of Rs. 20 lacs under Heart Cover for a term of 10 years and take the Increasing Cover option, starting from the first policy anniversary an additional 10% of initial Sum Assured will be added to your Sum Assured. Hence, by the 5th Policy year your Heart Cover would have increased from Rs. 20 lacs to Rs. 30 Lacs. (10% of Rs.20 lacs = Rs.2 lacs, Rs.2 lacs *5 years = Rs.10 lacs increase).

Monthly Income Benefit Option:

This plan gives you an additional benefit of 1% of initial Sum Assured every month for 5 years (i.e. 60 months) following the date of diagnosis of a Major Heart / Cancer condition / Major Critical Illness (as applicable), to help your family deal with loss of income. This monthly income payment is over and above the lump-sum payment made on diagnosis of the illness/ condition, and is continued to be paid to your Nominee for the total defined period of 5 years, even in case of your unfortunate death. The Nominee can also request for commuting the remaining monthly instalments into lump sum within six months of the death of the Life Assured. On the request for such commutation, the value of the remaining monthly instalments, discounted at 4.0% per annum, shall be payable and no further benefit shall be payable thereafter.

Maturity Benefit:

The Policy does not provide any maturity benefit under Heart or Cancer Cover. In case of Major Critical Illness Cover, there is an option to take the Return of Premium Option (available with Policy Term 10 to 20 years), which provides maturity benefit. For details please refer to the Option as explained below.

Return of Premium Option:

This benefit ensures that your premiums comes back to you at the end of the Policy Term (if no claim is made) to take care of ongoing health / medical expenses. Upon survival of the Life Assured till the end of the Policy Term without any claim having made, while the Policy is in-force, the Company will pay back total premiums paid (excluding underwriting extra premiums if any) during the Policy Term as a Maturity Benefit.

Total premium paid means total of all the premiums received,excluding any rider premiums and taxes.

Note: The Return of Premium Option is available only in Major Critical Illness Cover with Policy Term 10 to 20 years only.


UIN: 136N051V03

Canara Bank (IRDAI Regn. No. CA0045) is the Corporate Agent of the Insurer.

The online journey is being enabled through the Insurance Self Network platform (ISNP) of the Company where Canara Bank is a market participant as the corporate agent of the insurer.

Purchase of any insurance products by a bank's customer is purely voluntary and is not linked to availment of any other facility from the bank.

Trade Logo of Canara HSBC Life Insurance Company Limited (formerly known as Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited) is used under license with Canara Bank and HSBC Group Management Services Limited.

The Insurance products are offered and underwritten by Insurer (IRDAI Regn. No. 136) having its head office at 139 P, Sector - 44, Gurugram - 122003, Haryana, India.

The premium mentioned is for standard lives. Premium rates for tobacco users will vary. Your actual premium will depend on the Company's assessment of risks on your health, lifestyle, occupation, etc. Annualized premium may vary for monthly mode.

For more details on risk factors, terms and conditions please read the Sales Brochure carefully before concluding a sale.

Call (Toll free no.): 1800-103-0003/ 1800-180-0003/ 1800-891-0003
SMS: 9779030003
Missed Call: 0120-6927801

Tax benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.

Collection of advance premium shall be allowed within the same financial year for the premium due in that financial year. However, where the premium due in a financial year is being collected in previous financial year, the premium may be collected for a maximum period of three months in advance of the due date of the premium. The premium so collected in advance shall only be adjusted on the due date of the premium. Such advance premium, if any, paid by the Policyholder shall not carry any interest.

Medical charges will be deducted in case of non-issuance of the policy.


  • IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Canara HSBC Life Insurance Company Limited
IRDAI Registration no: 136

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