If the policy is sourced under QROPS, the Age of the Life Assured on the Vesting date should be between 55 (Fifty Five) years and 75 (Seventy Five) as per the prevailing Her Majesty Revenue & Customs (HMRC) requirements.
Higher of Fund Value or 105% of the all premiums paid (including top-up premiums, if any) Options available on Death.
The nominee/claimant shall have the option to utilize the death benefit in one of the following ways:
Higher of Fund Value or guaranteed* maturity benefit, where the guaranteed* maturity benefit is 101% of total premiums paid (including top-up premiums)
*Benefit is guaranteed subject to payment of all due premiums.
For option 3 above, for single pay or limited pay variant, only deferment of vesting date is allowed subject to maximum maturity age of 80 years. No premiums are to be paid for the extended period.
For regular premium policies, there will be an option to extend the accumulation period i.e. premium payment period along with deferment of vesting Date.
There are three investment funds in the plan. The investment and risk profile of each fund is described below:
Pension Growth Fund
To achieve capital appreciation through a judicious mix of investments in equities and fixed income securities.
Medium to high
Pension Balanced Fund
To achieve a balance between capital protection and returns through a judicious mix of investments in equities and fixed income securities.
Pension Debt Fund
To provide capital protection and accumulation of income through investment in fixed income securities.
*Others will include investments in Liquid Mutual Funds, FDs and other short term investments
Policy Term : 20 Years
Pension Growth Fund
Pension Balanced Fund
Pension Debt Fund
You may be entitled to certain tax benefits as per the Income Tax Act, 1961. Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time.
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
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.
The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.
Unit Linked Insurance products are different from the traditional insurance products and are subject to the risk factors.
The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
Canara HSBC Life Insurance Company Limited is only the name of the insurance company and Canara HSBC Life Insurance Secure Bhavishya Plan is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document issued by the insurance company.
The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.
The premiums & funds are subject to certain charges related to the fund or to the premium paid.
The premium shall be adjusted on the due date even if it has been received in advance.
BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
Canara HSBC Life Insurance Company Limited
IRDAI Registration no: 136
©2022 Canara HSBC Life Insurance Company Limited