₹1 Crore Life Cover at ₹626/month**
Sleep Better Knowing Their Future is Secure
- Life Cover at Low Premiums
- Return of Premium Option
- Spouse Cover Option
- Tax Benefits
Start the promise of protection here!
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About Young Term Plan
Canara HSBC Life Insurance Young Term Plan is a flexible life insurance policy designed to cater to individual needs. It is a non-linked, non-participating, individual, pure-risk premium plan that provides two plan options based on your financial needs i.e. Life Secure and Life Secure with Return of Premium.
You can think of it as a shield, protecting them from life's uncertainties. If something unexpected happens to you, the plan will provide your loved ones with a lump sum amount so that they can at least fight the financial storm and keep their life and dreams on track. You can relax knowing your loved ones will be cared for, no matter what.
How Much Term Insurance Cover Do You Need?
Insurance experts recommend buying term insurance plans covering 15-20 times your annual income. For example, if your yearly salary is Rs 8 lakh, a term insurance plan must include a minimum ₹1 crore term plan. Human Life Value (HLV) is a scientific method to calculate your life insurance needs.
- Age:Younger adults can generally pay the premium for a long time with fewer chances of illness, keeping the premium rate low. Older people are more susceptible to diseases but have lesser capacity to pay and have to pay higher premiums. Buy a smart term plan that offers appropriate riders to enhance your current plan.
- Current Cost of Family:Each family has its lifestyle and expenses. The amount needed to cover those regular expenses will vary from family to family. You don't want your family's lifestyle to suffer if something happens to you. Hence, you must consider the current expenses to ensure you buy a term insurance plan with the right sum assured.
- Education:Your child’s future depends on your savings. Term insurance allows you to protect your child’s future even if you are not around. You don't want your children's education interrupted due to financial problems. Calculate the sum assured that covers children's education and buy the right term insurance plan.
- Wedding:Financial issues may impact your child’s marriage. If you are concerned about your children's wedding and want them to have it the best - whether you are there or not - you must consider it while calculating the sum assured. The best term life insurance plan helps you at every stage of life – no matter what.
- Premium:You should calculate your ability to pay the premium. The premium amount must be more comfortable to pay so that you won't think of continuing with your term policy. Also, choose the right premium payment mode based on your finances. A term insurance plan offers multiple premium payment options that you can choose from.
Find the Coverage Your Family Needs
Life is unpredictable, but your family's future doesn’t have to be. Our term insurance calculator helps you determine the right coverage to protect your loved ones against life’s uncertainties. Estimate what you need in just a few clicks and give your family the peace of mind they deserve.
Calculate Term Insurance Premium
A term insurance calculator is a useful online tool that helps you determine how much coverage you need based on your income, lifestyle, and family’s needs.
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My Income
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My current Cover
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Additional Details
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Our Recommendation
My Income
My current Cover
Additional Details
Our Recommendation
Total Life Cover Recommended
50 Lakh
12.5 Lakh
75 Lakh
Zero
1 Crore
Where do you stand
Additional Life Cover
Hi {name}
rs 10,000
Note: This is a very brief calculation of HLV
Desclaimer-
The above calculation and illustration of figures are indicative only and not on actual basis.
Steps To Buy the Plan
Here are some simple steps to buy a term insurance:
1
Choose the sum assured based on factors such as your income, number of dependents, debts, and family’s future needs and goals. Generally, the amount is 10-12 times your income.
2
Select the plan option and add-on coverage. You can also choose the suitable premium payment term and mode.
3
You can pay the policy premium and get the plan. Protect your family's future financially.
Canara HSBC Life Insurance - A Name You Can Always Count On!
We have over 15 years of experience in delivering exceptional value to our customers through our range of individual and group insurance solutions, designed to meet their various needs, including term insurance, savings and investment, retirement, protection, and more.
15,700 Partner Branches
15,700 Partner Branches
Canara Bank, HSBC India, Other Alternate Channels
₹400,127.4 Mn Assets Managed
₹400,127.4 Mn Assets Managed
Assets managed as of March 2024
99.31% Claims Settled
99.31% Claims Settled
Claims Settled in FY 2023-2024
215.00% Solvency Ratio
215.00% Solvency Ratio
Way above the IRDAI mandate
Frequently Asked Questions
You should have term insurance coverage of at least 10 or 12 times your yearly income. This sum may be sufficient to cover future expenses and stay afloat during inflation.
Yes, upon the insured's demise within the policy term, the insurer pays the full amount as a death benefit. However, if you had chosen a lump sum plus regular income payout, the amount dedicated to regular income will be paid monthly.
Yes, you can have two or more term insurance policies. However, your total life cover may not exceed 20 times your annual income. There is no restriction on the number of policies you can buy, but your financial status limits total life cover. Generally, the insurer will consider your annual income, but your net worth also influences your maximum insurance eligibility.
Generally, pure protection term plans only offer financial safety to your family in case of your early death. Term insurance will not provide any wealth-generation opportunities. However, the whole life term plan option of iSelect Smart360 Term Insurance also offers wealth creation benefits. You can receive a sum of 60 equal to all the premiums paid or a regular income.
The Insurance Laws (Amendment) Act 2015, Section 45, states that an insurance company cannot deny a claim once the policy has been in effect for three years, or three years after the date of policy reinstatement.
Anyone who is of legal age (18-65) and has dependants can buy term insurance in India.
A term insurance supports the surviving spouse or the children in the policyholder’s absence. Getting adequate life insurance to pay off debts such as school loans, mortgages, or large credit card bills might be a smart move if one or both partners have any of these obligations.
To purchase a term plan, the policyholder must provide proof of income. Consequently, a person without an income might not be able to purchase a term plan.
The length of the term depends on how long you want to guarantee your family's financial security in the event of an unlucky event. Insurance providers offer terms for policies that range from 5-40 years. You should base your policy term selection on your intended retirement date.
Most of the time, an applicant must undergo required medical testing to determine his eligibility before purchasing a term insurance policy.
If the policyholder outlives the policy, only a term insurance plan with return of premiums is provided to reimburse all premiums paid during the policy's duration. The premiums are not refundable if the policyholder dies while the policy is in effect.
Delaying will cost you more!