Guaranteed Saving Plans

What are Guaranteed Saving Plans, And How Does It Work?

Guaranteed savings plans offer assured returns and insurance cover, helping you save safely and build predictable wealth over the long term.

Written by : Knowledge Centre Team

2025-10-05

1093 Views

10 minutes read

Exit Pop Up

Live Life More Confidently

Get best insurance from our experts

Name is required Name should be Valid
Mobile Number is required Mobile Number should be Valid
DOB is required DOB should be Valid
Annual Income is required
Please tick to proceed further.

Thank you for your interest in our product. Our financial expert will connect with you shortly to help you choose the best plan.

Guaranteed Savings Plan is a life insurance cum savings plan that allows you to secure your life goals with the security of a life cover and guaranteed returns. Buying the best savings plan is an assurance that even if something goes wrong, your family can continue living their financial life the way they were when you were around. Not only that, savings plan also help you in planning for other life goals such as your child’s higher education, retirement planning, or buying your dream house during retirement. Guaranteed Savings Plan by Canara HSBC Life Insurance offers lump sum benefit at maturity that can take care of your post-retirement expenses.

Let us understand about this savings plan in detail:

How Guaranteed Savings Plan Work?

The savings plan offers a lump sum benefit to the policyholder at maturity. You can choose to pay the premium for limited years only or you can choose the premium payment frequency as per your financial circumstances.

There are three types of policies available:

  • Guaranteed saving option
  • Guaranteed Saving with double protection option
  • Guaranteed saving with premium protection option

When the policy matures, you will get:

  • Guaranteed Sum Assured
  • Guaranteed Yearly Additions
  • Guaranteed Loyalty Additions

Five Benefits of Guaranteed Saving Plans

  1. Benefit on the maturity amount is maintained through Guaranteed Sum Assured
  2. Bank provides complete security on the amount with Premium Protection choice
  3. Upgraded Protection with Double Protection choice is handed out to the customers with Double Sum Assured on unforeseen circumstances
  4. Credit Facility to meet impromptu monetary necessities
  5. Tax benefits are provided to customers under Section 80C and Section 10 (10D), of Income Tax Act, 1961
buy the best saving plan

Three Reasons to Invest in Guaranteed Savings Plan

Everyone has a distinct financial goal, a varied life experience, and a different perspective on risk and investments. Guaranteed saving plans may be the perfect savings plan for you if you are risk averse and want a steady, predictable, and long-term income from your assets.

Here are 3 reasons you should buy a Guaranteed Savings Plan:

1. Builds a Safety Net

If the policyholder passes away during the term of the policy, the death benefit will be paid to the nominee or beneficiaries. They will receive sum assured on death along with cumulative guaranteed yearly additions. If opted for Guaranteed Savings Plan with Double Protection Option and the reason of death of the policyholder is accident, then an additional amount equal to Accidental Death Benefit Sum Assured will be paid to the nominee. The amount received can be used for a variety of purposes. In case of the policyholder’s early or sudden demise, this savings plan will act as a financial safety net for the family.

2. Wealth Creation and Legacy Building

Build a legacy for your children and boost your wealth creation strategy with the best savings plan. Due to the effect of compounding, you can expect the invested amount to grow significantly with time. The wealth, thus created can be used to take care of the regular expenses of your family when you are not around. The maturity benefits can be also used for meeting your retirement goals. Any surplus can be passed on to the next generation of your family members.

3. Life Cover

As these are life insurance cum saving plans, you get a life cover. The maturity benefits will help your family in case of your demise. It caters to your financial needs when you retire. With a Guaranteed Savings Plan, you are also eligible for tax deductions under Section 80C of the Income Tax Act.

Guaranteed Saving Plans helps in shaping the future of the person, it gives financial independence. It is widely chosen by people to make them and family financially secure. It provides the best saving plan like retirement plan, children education plan, etc.

Start Saving Smart, Grow Wealth Faster

Please enter correct name Please enter the Full name
Please enter valid mobile number Please enter Mobile Number
Please enter valid email Please enter Email
Consent is required

Enter OTP

An OTP has been sent to your mobile number

Didn’t receive OTP?

Application Status

Name

Date of Birth

Plan Name

Status

Unclaimed Amount of the Policyholder as on

Name of the policy holder

Policy Holder Name

Policy No.

Policy Number

Address of the Policyholder as per records

Address

Unclaimed Amount

Unclaimed Amount
Error

Sorry ! No records Found

.  Please use this ID for all future communications regarding this concern.

Request Registered

Thank You for submitting the response, will get back with you.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

Recent Blogs

Can Compound Interest Beat Inflation?
12 Feb '26
1898 Views
7 minute read
Compound interest grows your money, but inflation compounds too. Learn how to calculate and beat inflation with smart financial planning. Read more!
Read More
Saving Plan
Smart Monthly Income Plans in India: A Complete Guide
11 Feb '26
1589 Views
7 minute read
Looking for stable monthly income? Explore smart savings plans that offer steady returns, financial security, and help you achieve long-term life goals.
Read More
Saving Plan
Compound Interest Investment: Best Investment Options in India
10 Feb '26
2743 Views
10 minute read
The best compound interest investments bring consistent growth to your wealth. Use safe and aggressive options to grow wealth with Canara HSBC Life Insurance.
Read More
Saving Plan
How Much Money Do you Need to Invest in a Savings Plan?
08 Feb '26
897 Views
8 minute read
Learn how to decide the right amount to invest in a savings plan based on income, goals, time horizon, risk comfort, and ongoing financial responsibilities.
Read More
Saving Plan
Top 3 Saving Plans to Consider Buying During COVID‑19
02 Feb '26
906 Views
6 minute read
Understand the importance of buying the best savings plan during the COVID-19 pandemic. Learn how a savings plan can protect your family financially when you are not around.
Read More
Saving Plan
How to Balance Liquidity and Long-Term Wealth Easily?
27 Jan '26
835 Views
6 minute read
Learn smart strategies to maintain short-term liquidity while building long-term wealth. Find the right balance to meet current needs and secure your financial future.
Read More
Saving Plan
Public Provident Fund (PPF): Account, Features & Tax Benefits
20 Jan '26
1902 Views
10 minute read
Maximize your savings with PPF tax exemption. Discover how investing in a Public Provident Fund secures your future and reduces taxable income.
Read More
Saving Plan
National Saving Certificate: Features, Benefits, Eligibility Criteria
10 Jan '26
1322 Views
8 minute read
Learn everything about National Saving Certificate – eligibility criteria, features, benefits, categories to invest in the best saving plan or scheme as per your financial affordability.
Read More
Saving Plan
Guaranteed Savings Plan for Young Professionals
28 Dec '25
2365 Views
7 minute read
Securing your future holds immense priority. Know about guaranteed savings plans and their benefits.
Read More
Saving Plan

Our Top-Selling Insurance Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

Fixed Returns, Zero Risks & Worries

iSelect Guaranteed Future Plus
  • 4 plan options
  • Life cover + Guaranteed benefits
  • Accidental death benefit
  • Premium protection cover

Save, Dream, Plan. Live Peacefully

iSelect Guaranteed Future Plan
  • 4 plan options
  • Guaranteed Maturity Benefit
  • Premium Protection Cover
  • Tax Benefits