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Death Benefits
Immediate Benefits
- Guaranteed Sum Assured as a lumpsum
Family Income Benefit
- Monthly Income equal to 12% of Annualized Premium every month starting from next monthly anniversary following death till the end of the policy term. Monthly income will be given for atleast 36 months, even if that crosses the policy term.
Premium Protection Benefit
- All future premiums will be waived off and policy will continue with maturity benefit as an inforce policy i.e Guaranteed Monthly Additions will continue to accrue
Maturity Benefit
- Guaranteed Sum Assured plus accrued Guaranteed Monthly Additions payable in lumsum.
Maturity Benefit
- Guaranteed Sum Assured plus accrued Guaranteed Monthly Additions.
Other Benefits
- Loan facility is available once your in-force policy acquires a Surrender Value.
- The minimum loan amount that you can be avail is Rs. 20,000 and the maximum is 80% of prevailing Surrender Value
Tax Benefit
- You may be entitled for tax benefits in accordance with the provision of Income Tax Act, 1961 as amended from time to time.
- Please consult your independent tax advisor for tax related queries.
Secure your child’s future in just 3 simple steps:
Step 1: Choose how much you want to save for your child’s future. That is your premium.
Step 2: Choose your Policy Term (PT) and premium payment mode.
Stem 3: The Guaranteed Sum Assured in this plan will be determined on the basis of your age, your nature of duty and the options chosen above.
Sohan Singh, aged 28 years, has a 2 years old child - Pawan. Sohan wants Pawan to become a Doctor once he grows up. To ensure, this dream does not have to face any adversities, he buys an insurance plan with guaranteed benefits - Canara HSBC Life Insurance Guaranteed Suraksha Kavach.
He opts for a Policy Term of 15 years. He makes a commitment to pay Rs. 3,000 at the start of every month for 10 years.
Below are two scenarios illustrating benefits which will be payable under each of them.
Scenario 1: Maturity Benefit
Scenario 2: Death Benefit
In case of unfortunate death of Sohan Singh at the end of 4th policy year
Policy will terminate on payment of this benefit. Premium used in illustration is exclusive of taxes.
Parameter
Minimum
Maximum
Entry Age as on Last Birthday
18 years
55 years
Maturity Age as on Last Birthday
28 years
70 years
Premium Payment Term (PPT), & Policy Term (In years)
Premium Payment Term
5
7
10
12
Policy Term
10
12
15
17
Premium (in Rupees)
Monthly
Quarterly
Half-Yearly
Yearly
2,000
6,000
12,000
24,000
No limit (Subject to Board Approved Underwriting Policy of the Company)
Premium Payment Mode
Yearly, Half-Yearly, Quarterly & Monthly
Guaranteed Sum Assured
Will depend upon your age, your nature of duty Annualized Premium, Policy Term and Premium Payment Mode
No limit (Subject to Board Approved Underwriting Policy of the Company)
