Minimum: 18 years
Maximum: 18 years 50 years (In case of monthly mode, maximum entry age is 40 years)
You will receive the Guaranteed Annual payouts at the end of each of the last 4 policy years before the maturity year provided that all due premiums are paid. You can utilize these guaranteed payouts to fund the future education needs of your child. The amount of annual payouts will be as per below table.
Payout as % of Sum Assured
On your survival till maturity, you will receive Guaranteed Sum Assured on maturity equal to 20% of Sum Assured along with Annual bonuses and Final bonus, if any.
In case of unfortunate demise of Life Assured during the policy term, provided the policy is in-force, following benefits will be payable:
Guaranteed Annual Payouts
All Guaranteed Annual Payouts as scheduled will continue to be payable at the end of each of the last 4 policy years before the maturity year.
Guaranteed Sum Assured on maturity
This benefit will be equal to 20% & will be paid on maturity.
Accrued Annual bonuses along with Final bonus, if any, will also be payable on maturity.
You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80C of income Tax Act, 1961.
1 Guaranteed lumpsum payouts will be made in last 5 policy years provided all premiums are paid as and when due.
2 Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus, if any, once added, will be guaranteed.
3 If Sum Assured is higher than or equal to Rs. 4,00,000.
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.
#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!
Canara HSBC Life Insurance Company Limited
IRDAI Registration no: 136
©2022 Canara HSBC Life Insurance Company Limited