Guaranteed Assured INcome

Guaranteed Assured INcome

A Winning Combination of Flexible Income Horizons & Return of Premium
  • Life Cover for Financial Protection
  • Guaranteed Benefits
  • Option of Step-Up Income*
  • Return of Total Premiums Paid

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A Winning Combination of Flexible Income Horizons & Return of Premium
  • Life Cover for Financial Protection
  • Guaranteed Benefits
  • Option of Step-Up Income*
  • Return of Total Premiums Paid

Download Brochure Meet Our Advisor

Access Customer Information Sheet

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About Guaranteed Assured INcome

A Non-Linked Non-Participating Individual Life Insurance Savings cum Protection Plan

UIN: 136N097V04

We each have unique dreams and goals that we like to pursue and wouldn't it be perfect if our short term, long-term & immediate financial goals in life are aided with guaranteed promises?

Choose Canara HSBC Life Insurance Guaranteed Assured INcome, a plan that provides you, life insurance coverage to achieve financial stability and security for your family and also helps you with an alternate source of savings to take care of your financial goals .The plan gives guaranteed income with the flexibility to get your premiums back at the end of policy term. The plan ensures that your financial goals are met and you are able to give wings to your dreams.

Choose a Plan Option

Depending upon your financial need, you can select your plan option (any ONE) from the following available options under this product.

  • Provides income for shorter term 5 & 7 years
  • Financial Protection for your loved ones
  • Fulfill your dreams and promises you have made to your family with Short Term Income option
  • Create a second source of income as per your need
  • Get increasing income every year at 5% p.a. with ‘Step-Up income’ option to manage changing lifestyle*
  • Boost your Survival Benefit with Loyalty Income & Step-up Income benefit to pursue aspirations
  • Return of Total Premiums Payable at Maturity as a ‘Final Benefit’ to achieve your milestone & fulfill your dreams
  • High Premium Booster to ensure that you get extra benefit for making a higher premium commitment
  • Tax benefits available as per prevailing Tax Laws
  • Provides income for short to long term from 10 to 30 years
  • Financial Protection for your loved ones
  • Achieve your milestone & Fulfill your dreams with Long Term Income option
  • Supplementary guaranteed regular income to manage expenses
  • Get increasing income every year at 5% p.a. with ‘Step-Up income’ option to manage changing lifestyle*
  • Boost your Survival Benefit with Loyalty Income & Step-up Income benefit to pursue aspirations
  • Return of Total Premiums Payable at Maturity as a ‘Final Benefit’ to achieve your milestone & fulfill your dreams
  • High Premium Booster to ensure that you get extra benefit for making a higher premium commitment
  • Tax benefits available as per prevailing Tax Laws
  • Financial Protection for your loved ones
  • Gift of Guaranteed Benefits
  • Create a parallel income stream with Immediate Income during Premium Payment Term & further followed by Assured Income post completion of Premium Payment Term to take care of recurring expenses
  • Boost your Assured Income with Loyalty Income benefit to pursue your aspirations
  • Return of Total Premiums Payable at Maturity as a ‘Final Benefit’ to achieve your milestone & fulfill your dreams
  • High Premium Booster to ensure that you get extra benefit for making a higher premium commitment
  • Tax benefits available as per prevailing Tax Laws

Short Term Income

Why Buy

  • Protection: Ensure financial protection for your family in case of an eventuality
  • Guaranteed Benefits: All the policy benefits are upfront guaranteed at start of the policy
  • Income Pay-outs: An Assured Income starts post completion of Premium Payment Term & Deferment Period to take care of the recurring expenses
  • Flexibility in plan: Income can be annual/ semi-annual/ quarterly/ monthly – the way you want
  • Loyalty Income: An additional income stream will be paid along with Assured Income stream
  • Step Up Income: Optional benefit where, your Assured Income will be enhanced each year @5% p.a.*
  • Final Benefit: 100% of Total Premiums Payable will be paid at policy Maturity
  • Tax Benefits as per applicable laws as amended from time to time

*Step Up Income is an additional income calculated as 5% of the first year Annual Assured Income which is added every Policy Year

Plan Flyer
Product Brochure
Policy Document
Customer Information Sheet

Death Benefit

On death of the Life Assured the death benefit payable will be equal to:

  • Sum Assured on Death
  • On payment of this benefit, the policy will terminate and no further benefit will be payable

Survival Benefit

‘Assured Income Instalment’ plus ‘Loyalty Income Instalment’ payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid post completion of Premium Payment Term + Deferment Period till the end of Policy Term.

Maturity Benefit

Sum Assured on Maturity i.e. “Final Benefit” equal to 100% of Total Premiums Payable.

Step up Income option

An optional benefit which can be selected at inception, where an additional step up income calculated as 5% of the First year Annual Assured Income will be added every year on each Income Anniversary payable from the start of the Income Pay-out Period. This benefit shall be payable till the end of pay-out period only to the in-force and paid-up policies. Loyalty Income Instalment will not increase with the step-up rate throughout the income pay-out period.

Loyalty Income

An additional income shall be payable at the end of every month/quarter/half year/year as per the chosen income frequency along with Assured Income Instalment till the end of policy term. Annual Loyalty income will be equal to 50% of First year Annual Assured Income.

Loan Facility To meet any contingent need, you may avail the loan facility in this plan, once the policy acquires a Surrender Value.

Tax Benefit: You may be entitled for tax benefits in accordance with prevailing Income Tax laws in India as amended from time to time. Please consult your independent tax advisor for tax related queries.

ParametersMinimumMaximum
Entry Age as on Last Birthday0 years60 years
Maturity Age as on Last Birthday18 years99 years

 

 

 

Premium Payment Term, Deferment Period, Policy Term & Income Pay-out Period (in years)

SHORT TERM INCOME:

Premium Payment TermDeferment PeriodIncome Pay-out PeriodPolicy Term*(PPT+DP+IPP)
50 to 5510 to 15
70 to 5714 to 19

 

*Availability of Policy Term will be subject to Minimum Maturity Age of 18 years and Maximum Maturity Age of 99 years

Premium (in Rupees)

 

Annual36,000
Half Yearly18,360
Quarterly9,360
Monthly3,240
No limit (Subject to Board Approved Underwriting Policy of the Company)

Long Term Income

Why Buy

  • Protection: Ensure financial protection for your family in case of an eventuality
  • Guaranteed Benefits: All the policy benefits are upfront guaranteed at start of the policy
  • Income Pay-outs: An Assured Income starts post completion of Premium Payment Term & Deferment Period to take care of the recurring expenses
  • Flexibility in plan: Income can be annual/ semi-annual/ quarterly/ monthly – the way you want
  • Loyalty Income: An additional income stream will be paid along with Assured Income stream
  • Step Up Income: Optional benefit where, your Assured Income will be enhanced each year @5% p.a.
  • Final Benefit: 100% of Total Premiums Payable will be paid at policy Maturity
  • Tax Benefits as per applicable laws as amended from time to time
Plan Flyer
Product Brochure
Policy Document
Customer Information Sheet

Death Benefit

On death of the Life Assured the death benefit payable will be equal to:

  • Sum Assured on Death
  • On payment of this benefit, the policy will terminate and no further benefit will be payable

Survival Benefit

Assured Income Instalment’ plus ‘Loyalty Income Instalment’ payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid post completion of Premium Payment Term + Deferment Period till the end of Policy Term.

Maturity Benefit

Sum Assured on Maturity i.e. “Final Benefit” equal to 100% of Total Premiums Payable.

Step up Income option

An optional benefit which can be selected at inception, where an additional step up income calculated as 5% of the First year Annual Assured Income will be added every year on each Income Anniversary payable from the start of the Income Pay-out Period. This benefit shall be payable till the end of pay-out period only to the in-force and paid-up policies. Loyalty Income Instalment will not increase with the step-up rate throughout the income pay-out period.

Loyalty Income

An additional income shall be payable at the end of every month/quarter/half year/year as per the chosen income frequency along with Assured Income Instalment till the end of policy term. Annual Loyalty income will be equal to 50% of First year Annual Assured Income.

Loan Facility To meet any contingent need, you may avail the loan facility in this plan, once the policy acquires a Surrender Value.

Tax Benefit: You may be entitled for tax benefits in accordance with prevailing Income Tax laws in India as amended from time to time. Please consult your independent tax advisor for tax related queries.

ParametersMinimumMaximum
Entry Age as on Last Birthday0 years60 years
Maturity Age as on Last Birthday18 years99 years

 

 

 

Premium Payment Term, Deferment Period,
Policy Term
& Income Pay-out Period (in years)

LONG TERM INCOME:

Premium Payment TermDeferment PeriodIncome Pay-out PeriodPolicy Term*(PPT+DP+IPP)
50 to 510/15/20/25/3015 to 40
70 to 510/15/20/25/3017 to 42
100 to 510/15/20/25/3020 to 45
120 to 510/15/20/25/3022 to 47

 

*Availability of Policy Term will be subject to Minimum Maturity Age of 18 years and Maximum Maturity Age of 99 years

Premium (in Rupees)

 

Annual36,000
Half Yearly18,360
Quarterly9,360
Monthly3,240

 

No limit (Subject to Board Approved Underwriting Policy of the Company)

Early Income

Why Buy

  • Protection: Ensure financial protection for your family in case of eventuality
  • Guaranteed Benefits: All the policy benefits are upfront guaranteed at start of the policy
  • Income Pay-outs:
    • Immediate Income: Income starts from 2nd year onwards till the end of Premium Payment Term
    • Assured Income: Income starts post completion of Premium Payment Term till the end of Policy Term
  • Flexibility in plan: Income can be annual/ semi-annual/ quarterly/ monthly – the way you want
  • Loyalty Income: An additional income stream will be paid along with Assured Income stream
  • Final Benefit: 100% of Total Premiums Payable will be paid at Policy Maturity
  • Tax Benefits as per applicable laws as amended from time to time
Plan Flyer
Product Brochure
Policy Document
Customer Information Sheet

Death Benefit

On death of the Life Assured the death benefit payable will be equal to:

  • Sum Assured on Death
  • On payment of this benefit, the policy will terminate and no further benefit will be payable

Survival Benefit

  • During PPT- “Immediate Income Instalment” payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid from 2nd year onwards till the end of Premium Payment Term.
  • Post PPT- ‘Assured Income Instalment’ plus ‘Loyalty Income Instalment’ payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid post completion of Premium Payment Term till the end of Policy Term.

Maturity Benefit

  • Sum Assured on Maturity i.e. “Final Benefit” equal to 100% of Total Premiums Payable.

Loyalty Income

An additional income shall be payable at the end of every month/quarter/half year/year as per the chosen income frequency along with Assured Income Instalment till the end of policy term. Annual Loyalty income will be equal to 50% of First year Annual Assured Income.

Loan Facility To meet any contingent need, you may avail the loan facility in this plan, once the policy acquires a Surrender Value.

Tax Benefit: You may be entitled for tax benefits in accordance with prevailing Income Tax laws in India as amended from time to time. Please consult your independent tax advisor for tax related queries.

ParametersMinimumMaximum
Entry Age as on Last Birthday0 years60 years
Maturity Age as on Last Birthday18 years99 years

 

 

 

Premium Payment Term, Deferment Period, Policy Term & Income Period (in years)

 

Premium Payment TermIncome Start YearIncome Pay-out PeriodPolicy Term*
10/12Income starts from 2nd policy yearPT minus(–) 1 years30/40

 

*Availability of Policy Term will be subject to Minimum Maturity Age of 18 years and Maximum Maturity Age of 99 years

Premium (in Rupees)
Annual36,000
Half Yearly18,360
Quarterly9,360
Monthly3,240
No limit (Subject to Board Approved Underwriting Policy of the Company)

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