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UIN: 136N066V02
Some goals cannot be left to chance. Like educating your child, or planning for her marriage, or providing financial security to a loved one. How can you make sure that such important goals are always achieved? First, You need a life insurance plan that allows you to save regularly to reach your objective. Second, You want the life insurance plan to work and your goal to be achieved even if anything happens to you.
Presenting Canara HSBC Life Insurance Guaranteed Savings Plan, a savings plan, that offers guaranteed benefits along with the flexibility to choose your savings horizon.
Some goals cannot be left to chance. Like educating your child, or planning for her marriage, or providing financial security to a loved one. How can you make sure that such important goals are always achieved? First, you need a plan that allows you to save regularly to reach your objective. Second, you want the plan to give you assured returns that are not dependent upon the vagaries of the capital markets, or the bonuses declared by the insurance company. Third, you want the plan to work and your goal to be achieved even if anything happens to you.
Presenting Canara HSBC Life Insurance Guaranteed Savings Plan that offers fully guaranteed benefits along with the flexibility to choose your savings horizon.
The benefits under the plan vary as per the plan option chosen.
The definitions below will help you better understand the benefits of the plan.
Sum Assured on Death is the amount which is higher of
GUARANTEED SAVINGS OPTION & GUARANTEED SAVINGS WITH DOUBLE PROTECTION OPTION
Maturity Benefit
On survival till the Policy Term (provided that all due premiums are paid), you will receive
Death Benefit
In case of the Life Assured's unfortunate death during the Policy Term, provided the policy is in-force, the death benefit payable to your Nominee will be as follows:
If you have opted for Guaranteed Savings with Double Protection Option and death of the Life Assured is due to an accident, an additional amount equal to ADB Sum Assured will be paid. On payment of above benefits, the policy will terminate and no further benefit will be payable.
GUARANTEED SAVINGS WITH PREMIUM PROTECTION OPTION
Maturity Benefit
On survival till the Policy Term (provided that all due premiums are paid), you will receive
Death Benefit
In case of your unfortunate death during the Policy Term, provided the policy is in-force, the following benefits will be payable:
On payment of above benefits, the policy will terminate and no further benefit will be payable
Loan Facility
To meet any contingent need, you may avail the loan facility in this plan, once the policy acquires a Surrender Value. The minimum loan amount that can be availed is Rs. 20,000 and the maximum is 80% of prevailing Surrender Value at the time of availing the loan. Loan will be available for an in-force policy only.
The applicable loan interest rate for the financial year 2018-19 is 8.60% per annum.
High Premium Booster
The basic Sum Assured available for a given premium will be increased by the High Premium Booster % applicable as per the table below, in case the annualized premium is more than Rs 30,000 (the upper limit of the first premium band in the table below). The High Premium Booster % will be as per the table below:
| Annualised Premium (in Rs.) | High Premium Booster (as % of Basic Sum Assured) |
|---|---|
| 20,000 to less than 30,000 | Nil |
| 30,000 to less than 40,000 | 4% |
| 40,000 to less than 50,000 | 7% |
| 50,000 to less than 75,000 | 8% |
| 75,000 to less than 1,00,000 | 10% |
| Greater than or equal to 1,00,000 | 11% |
You may be entitled for tax benefits under Section 80C and Section 10(10D), as per the Income Tax Act, 1961 as amended from time to time.
Step 1 - Choose your plan option
Depending on your financial need, select the plan option:
Step 2: Choose your premium
Choose your premium amount. You can check the guaranteed amount available at policy maturity to ensure that your financial needs are met.
Step 3: Choose your premium payment term, premium payment mode and policy term
Choose how long you would like to pay premium, at what frequency and your policy term, to align with your payment preference, savings horizon and future goals.
The Sum Assured in this plan will be determined basis your age and the options chosen above. If your annualized premium is eligible for High Premium Booster, the Sum Assured will be enhanced by the High Premium Booster %. (refer section "What are the other benefits in this plan?" of the brochure)
Entry Age (Life Assured)
| Minimum | Maximum |
|---|---|
| 0 years | 60 years |
Maturity Age
| Minimum | Maximum |
|---|---|
| 18 years | 75 years |
Entry Age (Life Assured)
| Minimum | Maximum |
|---|---|
| 18 years | 55 years |
Maturity Age
| Minimum | Maximum |
|---|---|
| 28 years | 75 years |
Entry Age (Life Assured)
| Minimum | Maximum |
|---|---|
| 18 years | 55 years |
Maturity Age
| Minimum | Maximum |
|---|---|
| 28 years | 75 years |
| Premium Payment Term (in years) | Available Policy Term (in years) |
|---|---|
| 5 | 10, 15 |
| 7 | 12, 15 |
| 10 | 15, 20 |
Minimum
Minimum Sum Assured is determined basis the Plan Option, minimum Annualised Premium, Entry Age, Policy Term and Premium Payment Term.
Maximum
No Limit as it will depend upon the Board Approved Underwriting Policy of the Company.
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