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Canara HSBC Life Insurance Group Advantage Term Plus is a Non-Linked Non-Participating Renewable Group Term Insurance Pure Life Insurance Plan. This plan provides life protection at relatively affordable cost to the employees/customers/members of the organization/affinity group, financially securing them/their loved ones in the event of Death, Accidental Death, Accidental Total and Permanent Disability, Critical Illness and Terminal Illness. This plan is offered to both Employer- Employee and Non Employer- Employee or Affinity Groups.
For detailed description of the product features, benefits, flexibilities & boundaries, kindly refer to the brochure.
As an organization or an affinity group, one of the most valuable assets that You have are your employees and customers/members, it is they who strive to make You a success. To safeguard their interests and help them focus on the challenges at hand it is imperative that You provide them protection against a range of different risks especially when there are people who are financially dependent upon them.
Following features are applicable for this product:
Optional In-built covers to enhance coverage: The product provides four In-built Cover Options which are optional, i.e. the Master Policyholder can continue with Base Death Benefit only or choose one or more of the optional In-built Cover Options as specified below at inception or at renewal of the Policy in addition to base Death Benefit.
Death Benefit 79 years ;Accidental Death Benefit, Accidental Total & Permanent Disability Benefit, Critical Illness and Terminal illness: 64 Years
Death Benefit: 80 years ; Accidental Death Benefit, Accidental Total & Permanent Disability Benefit, Critical Illness and Terminal illness: 65 Years
a) 1 Year
b) Less than 1 year (1 month to 11 months)
Policy Term of 1 Year: Yearly, Half-Yearly, Quarterly and Monthly
Policy Term less than 1 Year: Single or Monthly only
Rs. 5,000 per member
Base Death Benefit: No limit, subject to BAUP
Accidental Death Benefit, Accidental Total & Permanent Disability Benefit & Terminal Illness: Rs.2,00,00,000 per member* ;
Critical Illness: Rs.50,00,000 per member*
*Capped at Sum Assured
10 membersNote: After Master Policy issuance if the group size falls below 10 members, Master Policy will continue until the renewal date, after which it will be terminated.