Annual Income (In Lacs)

Key Advantages

Life Cover

Provides life cover for the entire term while you pay premium only for a limited period to help you meet your financial goals.

Guaranteed Sum Assured on Maturity1

Benefits on maturity through Guaranteed Sum Assured along with Guaranteed Yearly Addition(s) and Guaranteed Loyalty Addition, provided all due premiums have been paid.

Premium Protection Option2

Comprehensive Protection with Premium Protection Option – Sum Assured on Death is paid immediately and future premiums will be waived off in case of death and in addition, policy benefits remain as it is.”

High Premium Boosters

Enhanced guarantees through High Premium Boosters for higher premium commitment. Get better value for the premiums that you pay.

Customise your Savings Horizon

Multiple policy term options to help you select the best suited policy term which is closely aligned to your financial goals.

Flexible Payment Terms

Select your premium payment terms according to your premium payment capacity. Choose how long you would like to pay premium and at what frequency.

Get to Know Us

10000+ Bank branches,

Backed by Canara Bank and HSBC Bank

Assets under Management

At ₹26,2943 crores as per
financial year 2021-2022

Hassle-Free Claims Process

98.57% Individual death claims4
settled in FY 2021-2022

Life stories of our customers

Frequently Asked Questions

1. What is a Guaranteed Savings Plan?

Guaranteed Savings Plan is an individual, non-linked, non-participating life insurance savings cum protection plan. From educating your child to plan for their marriage – this life insurance plan can help you in achieving your financial goals as it offers you the flexibility to choose your savings horizon.

2. How much money should I save for a better future?

If you are a working professional, you must maintain a balance between your savings and investments. You may choose a savings plan that offers insurance cover along with guaranteed1 returns on the premiums.

Before you start saving, you must save 6-9 months of your monthly income to manage any short-term and unforeseen expenses.

3. Can Guaranteed Savings Plan help in saving tax?

Yes. Guaranteed Savings Plan offer tax saving benefits5 under Section 80C and Section 10(10D) of the Income Tax Act 1961. With Guaranteed Savings Plan you can save up to Rs. 46,8006 on life insurance premium of Rs. 1.5 Lakhs under Income Tax Act.

4. What is Enhanced Protection in Guaranteed Savings Plan?

Guaranteed Savings Plan offers Enhanced Protection7 for your family through payment of lump sum benefit on death of the policyholder. All the remaining premiums will be waived off and guaranteed benefits will be paid on maturity under Guaranteed Savings with Premium Protection Option.

5. What is the minimum monthly premium payment for Guaranteed Savings Plan?

The minimum monthly premium payment for Guaranteed Savings Plan is Rs. 18008, excluding taxes if you opt for Guaranteed Savings Options plan variant. However, please note that the minimum monthly premium payment amount will vary as per the premium payment mode.

  1. Conditions Apply - Payable at end of the Policy Term, Provided all premiums are paid as and when due.
  2. Available Under Plan option - ‘Guaranteed Savings with Premium Protection Option’.
  3. As reported in company factsheet for FY 2021-22.
  4. Individual death claims settled and reported in public disclosures for FY 2021-22.
  5. 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.
  6. Tax benefit of Rs. 46,800/- is calculated at the highest tax slab of 31.2%(including 4% cess) for an individual assessee on life insurance premium of Rs. 1.5 lacs under Income Tax Act, 1961 and tax benefit may vary from assessee to assessee. Tax benefits/savings are subject to provisions under section 80 C, 80 CCC, 80 D, 10(10A), 10(10D) and other sections of the Income Tax Act, 1961. The provisions of Income Tax Act, 1961 are subject to amendments made by the government from time to time. Goods & Services Tax will be charged on the premium amount. Please consult your independent tax advisor for details.
  7. Lump sum benefit on death, all remaining premiums are not payable and guaranteed benefits payable on maturity (under Guaranteed Savings with Premium Protection Option).
  8. The minimum monthly premium mode of Rs.1800 (excluding taxes) is available under Guaranteed Savings Plan with Guaranteed Savings options. The minimum premiums for other premium payment modes will vary.
  9. The maturity benefit is calculated for a 25 years old healthy male who has opted for Canara HSBC Life Insurance Guaranteed Savings Plan with Guaranteed Savings Option through insurer’s website, monthly premium Rs. 10,000 (excluding taxes) premium payment term 10 years and policy term 20 years. The maturity benefit is Rs. 27,43,104 which includes Guaranteed Sum Assured on Maturity, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition. T&C apply.

#The maturity benefit calculated for a 25 years old healthy male who has opted for Canara HSBC Life Insurance Guaranteed Savings Plan with Guaranteed Savings Option through insurer’s website, annual premium Rs. 2,10,000, (excluding taxes) premium payment term 10 years and policy term 20 years. The maturity benefit is Rs. 51,84,468 which includes Guaranteed Sum Assured on Maturity, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition. T&C apply.

^The maturity benefit calculated for a 25 years old healthy male who has opted for Canara HSBC Life Insurance Guaranteed Savings Plan with Guaranteed Savings Option through insurer’s website, annual premium Rs. 1,00,000, (excluding taxes) premium payment term 10 years and policy term 20 years. The maturity benefit is Rs. 24,68,795 which includes Guaranteed Sum Assured on Maturity, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition. Provided all premiums are paid. T&C apply.

& The maturity benefit is calculated for a 25 years old healthy male who has opted for Canara HSBC Life Insurance Guaranteed Savings Plan with Guaranteed Savings Option through insurer’s website, monthly premium Rs. 10,000 (excluding taxes) premium payment term 10 years and policy term 15 years. The maturity benefit is Rs. 20,50,303 which includes Guaranteed Sum Assured on Maturity, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition. T&C apply.

@The maturity benefit calculated for a 25 years old healthy male who has opted for Canara HSBC Life Insurance Guaranteed Savings Plan with Guaranteed Savings Option through insurer’s website, monthly premium Rs. 5,000 (excluding taxes) premium payment term 10 years and policy term 20 years. The maturity benefit is Rs. 13,47,044 which includes Guaranteed Sum Assured on Maturity, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition. T&C apply.

  • Premium is excluding goods & services tax. Actual premium rates may vary and will depend on company's assessment of risk on insured's health, lifestyle, occupation etc.

Trade Logo of Canara HSBC Life Insurance Company Limited (formerly known as Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd) hereinafter referred to as "Insurer" 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 Canara HSBC Life Insurance Company Limited, 139 P, Sector - 44, Gurugram - 122003, Haryana, India.

For more details on risk factors, terms and conditions please read the Sales Brochure carefully before concluding a sale.

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Website: www.canarahsbclife.com
Call (Toll free no.): 1800-103-0003/1800-180-0003/1800-891-0003
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Email: customerservice@canarahsbclife.in

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