iSelect Smart360 Term Plan

Why Invest in iSelect Smart360 Term Plan?

Canara HSBC Life Insurance iSelect Smart360 Term Plan is your financial companion ensuring that in case of unfortunate demise of Life Assured, the family still has its financial needs met. The plan would pay a lump sum amount or regular income for 5 years in case of the unfortunate event. It further offers optional in-built coverages to choose from so that you never take a step back from fulfilling the needs of your loved ones. This is an Individual Non-Linked Non-Par Pure Risk Premium Life Insurance Term Plan which comes as an all in one product offering you the flexibility to take cover as per your needs and ensuring that the dreams of your loved ones are not compromised.

Features

  • Life cover till 99 years of age
  • Option to get return of total premiums paid in case of no claim
  • No future premiums if diagnosed with covered Critical Illness or occurrence of Accidental Total & Permanent Disability, if opted
  • Additional Lump sum payment in case of Critical Illness, Accidental Total & Permanent Disability or Accidental Death, if opted
  • Child Care Benefit option to offer additional Sum Assured till child attains 21 Years of age
  • Option to Block Your Premium at inception and increase cover up to 100% of Base Sum Assured in next 5 Years
  • Option to augment cover with accelerated Terminal Illness Benefit
  • Option to avail Steady Income Benefit on attainment of age 60 Years
  • Tax benefits may be available as per applicable laws amended from time to time
  • Benefits will be available as per plan option and coverage selected.

Eligibility Criteria

Age

Parameters
Minimum
Maximum
Age at Entry
(as on last birthday)

18 years

65 years, except for the following:
Single Premium: 40 years

For PPT of ‘Up to 60 years’ under Life Secure: 55 years

For PPT of ‘Up to 60 years’ under Life Secure with Income/Life Secure with Return of Premium: 50 years

Life Secure with Income: 55 years

Non-working Spouse: 50 Years (40 years for Single Premium)

Age at Maturity
(subject to maximum Policy Term)

NA

99 years (80 Years for Single Premium or for a Non-Working Spouse)

Where Policy Term of up to 99 years of age is opted, the Policy terminates on the Policy Anniversary coinciding with or immediately after the 99th birthday of the Life Assured.

If ADB/ TI/ ATPD PP/ATPD PPP Optional In-Built Cover are opted, maximum maturity of the base plan as well as these Optional In-Built Covers will be 75 years.

If CI PP/CI PPP Optional In-Built Cover is opted, maximum maturity of the base plan can be 99 years while the maximum maturity of CI cover will be 70 years in case of Life Secure Plan and Life Secure with Income Option whereas for Life Secure with Return Of Premium option, the max maturity age shall be 70 years both for base & CI benefit.

Benefits

Life Secure:

Under this plan option, the Sum Assured on Death, as applicable basis the Coverage Option opted, will be paid on death of Life Assured/Spouse, as applicable, during the Policy Term, provided the Policy is in-force at the time of death.

Both the Life Assured and the Spouse can be covered for the term of the contract, subject to terms and conditions of the Policy.

Life Secure with Income:

Under this plan option, a Monthly Survival Income shall be payable at the beginning of each month, starting from the Policy Anniversary coinciding with or following the Life Assured attaining age 60 years (last birthday) which shall continue till the end of the Policy Term or the death of the Life Assured whichever is earlier.

In case of death of the Life Assured during the Policy Term, Sum Assured on Death basis the Coverage option opted, less cumulative monthly income(s) already paid shall be payable. The Policy will terminate after payment of this benefit.

Life Secure with Return of Premium:

Under this plan option, the Sum Assured on Death, as applicable basis the Coverage Option opted, will be paid on death of Life Assured during the Policy. The Policy will terminate after payment of this benefit.

In case of survival of Life Assured till maturity, Sum Assured on Maturity will be paid to the Policyholder on the date of maturity and Policy will terminate.

Optional Inbuilt Covers

Following Optional In-built Covers can be opted in addition to each of the Plan Options mentioned above except for Child Care Benefit (CCB) & Block Your Premium (BYP) which are available with Plan Option Life Secure only and Terminal Illness which is available with Plan Option Life Secure and Life Secure with Return of Premium only.

Accidental Death Benefit (ADB)

This will be an additional benefit i.e. on occurrence of death due to Accident, the applicable Sum Assured on Death plus the ADB Sum Assured will be paid and Policy will terminate.

Accidental Total & Permanent Disability (ATPD) Premium Protection

In case of occurrence of Accidental Total & Permanent Disability, all future premiums of the impacted life under the Policy will be waived and all other coverages on this life shall continue for the remaining Policy Term as an in-force Policy.

Accidental Total & Permanent Disability (ATPD) Premium Protection Plus

In case of occurrence of Accidental Total & Permanent Disability, a lump sum benefit as ATPD Sum Assured will be paid immediately and all future premiums of the impacted life under the Policy will be waived. All other coverages on this life shall continue for the remaining Policy Term as an in-force Policy

Critical Illness (CI) Premium Protection

In case of diagnosis of any of the covered Critical Illness during the Policy Term post completion of Waiting Period and survival of impacted life till end of Survival Period, all future premiums of the impacted life under the Policy will be waived and all other coverages on this life shall continue for the remaining Policy Term as an in-force Policy

Critical Illness (CI) Premium Protection Plus

In case of diagnosis of any of the covered Critical Illness during the Policy Term post completion of Waiting Period and survival of impacted life till end of Survival Period, a lump sum benefit as CI Sum Assured will be paid immediately and all future premiums of the impacted life under the Policy will be waived and all other coverages on this life shall continue for the remaining Policy Term as an in-force Policy

Terminal Illness (TI)

In case of diagnosis of Terminal Illness, lump sum benefit shall be paid immediately. This is a 100% accelerated benefit. Hence on payment of TI benefit, Death Benefit amount shall be reduced to the extent of claim paid under TI benefit. On diagnosis of TI during the Policy Term, all other Optional In-built Covers and their corresponding premiums will cease immediately and Policy shall continue for remaining Death Benefit only subject to payment of premiums for base Death Benefit as and when due.

Child Care Benefit (CCB)

This is an additional benefit which can be opted to safeguard child’s future. Apart from the amount payable on death of Life Assured/Working Spouse, as applicable, the CCB Sum Assured will also be payable when age of child is between 0 to 21 Years at the time of death of impacted life. The CCB Sum Assured may be utilized to take care of all the milestones planned for child.

Block Your Premium (BYP) Benefit

Under this benefit, Life Assured/Working Spouse, as applicable, will have option to block their premium rate of base Death Benefit at policy inception for a period of 5 Years during which Life Assured/Working Spouse, as applicable, can request for increase in benefit amount payable on death (BYP Sum Assured) up to 25%/50%/75%/100% of the Sum Assured, as chosen at policy inception for respective live(s), without any additional underwriting and irrespective of the attained age of the Life Assured / Working Spouse, as applicable, at the time of such increase provided Policy is in-force. This percentage shall be chosen at Policy inception itself.

Note: Accidental Total & Permanent Disability benefit cannot be co-opted with Critical Illness Benefit

Disclaimer

UIN: 136N080V01

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.

Website: www.canarahsbclife.com
Call (Toll free no.): 1800-103-0003/ 1800-180-0003/ 1800-891-0003
SMS: 9779030003
Missed Call: 0124-6156600
Email: customerservice@canarahsbclife.in

#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.

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

  • 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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