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To Buy: 1800-258-5899 (9:30 AM to 6:30 PM)
For Existing Policy: 1800-103-0003/ 1800-180-0003/ 1800-891-0003
customerservice@canarahsbclife.in
UIN: 136N048V02
This is an Individual Non-Linked Par Life Insurance Savings cum Protection Plan. This savings plan provides guaranteed money back payouts during the policy term along with guaranteed lump sum on maturity and bonus(es) which can be utilized by the customer to fulfil various planned milestones.
CLICK HERE for reversionary bonus rates in participating plans.
During your life there are various needs and milestones for which you need to plan and be financially ready. These milestones could be related to your aspirational needs such as vacation or purchasing a new home, or your child's education or extracurricular activities. There's no better way to take care of these needs than to plan for them in advance. Money Back Advantage Plan provides financial protection to your family by offering life cover and the milestone based payouts through guaranteed money back payouts and maturity benefit.
Survival Benefit:
You will receive Guaranteed Money Back payouts at the regular intervals as specified in the table below provided all due premiums are paid.
5th
15%
9th
15%
13th
15%
Maturity Benefit:
On your survival till maturity provided all due premiums are paid, you will receive Guaranteed Sum Assured on Maturity equal to 55% of Sum Assured along with accrued Simple reversionary bonus and Terminal bonus, if any.
On payment of above benefits, your policy will terminate.
Death Benefit
In case of your unfortunate death during the policy term, provided all due premiums are paid, the death benefit payable to your nominee will be as follows:
Higher of:
Bonuses
Let us understand the benefits of this plan with following examples.
Example 1
Mr. Kamal, 40 years old is looking for a plan which can provide him money at regular intervals. He wants to plan for his lifestyle enhancement related goals such as up gradation of household goods, vacation with family etc. He also wants his family to be financially protected in case his unfortunate death. He estimates that he would need lump sum payouts at various stages as illustrated below:
To fulfill these requirements, Mr. Kamal plans to save through Money Back Advantage Plan with a Sum Assured of ₹ 10 lacs.
Example 2
Mr. Pankaj, 35 years old and has one kid named Rohan aged 2 years. He is planning for an all round development of Rohan as regards to hobby courses, sports training, coaching classes, and his graduation. Mr. Pankaj also wants his family to be financially protected in case of his unfortunate death. He estimates that he would need lump sum payouts at various life stages of his child as illustrated below:
To fulfill these requirements Mr. Pankaj plans to save through Money Back Advantage Plan, with a Sum Assured of 5 lacs.
The premium he has to pay annually for 10 years is ₹ 59,580 (before taxes and cess (es) as applicable).
Mr. Pankaj now gets significant life cover to protect his family for the entire term of the policy. Provided premiums are paid as and when due, in case of his unfortunate death anytime during the policy term, his family will get the Sum Assured on Death {Higher of (Sum Assured or 10 times the Annualized Premium)} of ₹ 5,95,800. His family also gets the simple reversionary bonuses added till date of death (and any interim bonus for the part of the year in which death occurs) along with the terminal bonus (if any).
Please note that the death benefit will be at least 105% of Total Premiums Paid till date of death less underwriting extra premiums, if any. Please note that the death benefit is irrespective of any survival benefits (Guaranteed Money Back payouts) already paid to Mr. Pankaj.
Provided premiums are paid as and when due and Mr. Pankaj survives till such dates, he will be entitled to survival benefit by way of Guaranteed Money Back payouts of ₹ 75,000 each at the end of 5th, 9th and 13th policy year. At maturity, he gets Guaranteed Sum Assured on Maturity of ₹ 275,000. These payouts wil help him meet his planned milestone expenses.
Provided all the premiums are paid as and when due, regular simple reversionary bonuses added to the policy will be payable either on death or maturity, whichever is earlier. Further, Mr. Pankaj may be eligible for terminal bonus, if any.
8 years
55 years
(In case of monthly mode, maximum entry age is 45 years)71 years
16 years
₹ 1,00,000
(for entry age from 8 to 50 years)₹ 2,00,000
(for entry age from 51 to 55 years)₹ 3,00,000
(for entry age from 8 to 45 years)No limit
(Subject to Board Approved Underwriting Policy (BAUP) of the Company)
Depends on, entry age, Sum Assured & premium payment mode
No limit, will be subject to BAUP of the company
Annual and Monthly
For Monthly mode, the Annual Premium needs to be multiplied with a factor of 0.09 to arrive at the monthly instalment premium payable.
10 years