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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
Contact us
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
Key Milestones of Life - Secured With Our Comprehensive Coverage
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UIN: 136N080V01
Canara HSBC Life Insurance iSelect Smart360 Term Plan is your financial companion ensuring that in case of unfortunate demise of Life Assured, the family still has its financial needs met. The plan would pay a lump sum amount or regular income at the covered incidence of the life assured. It further offers additional coverages to choose from so that you never take a step back from fulfilling the needs of your loved ones. This is a Non-Linked, Non-Participating, Individual, Pure Risk Premium, Life Insurance Plan which comes as an all in one product offering you the flexibility to take cover as per your needs and ensuring that the dreams of your loved ones are not compromised.
Benefits will be available as per plan option and coverages selected.
Depending on your protection needs you can select any one of the following plan options available under the product
Under this plan option, the Sum Assured on Death, as applicable basis the Coverage Option opted, will be paid on death of Life Assured/Spouse, as applicable, during the Policy Term, provided the Policy is in-force at the time of death.
Both the Life Assured and the Spouse can be covered for the term of the contract, subject to terms and conditions of the Policy.
Sum Assured on Death shall be the highest of:
Total Premiums Paid means total of all the premiums received for Life Assured/Spouse, as applicable, excluding the corresponding underwriting extra premium, if any, rider premiums and taxes
Level Cover
The Sum Assured remains same throughout the Policy Term. However, if regular premium payment is opted, then Sum Assured can be increased thrice during the Policy Term with Life Stage Cover Enhancement option on any of the following life events i.e. Marriage, Birth/Legal Adoption of Child or purchase of new house.
Increasing Cover
Sum Assured under this option increases by 10% per annum (simple interest) after completion of every Policy Year, provided the Policy is in-force. The increase in Sum Assured during the Policy Term is capped at 100% of the original Sum Assured (original Sum Assured is the Sum Assured of base Policy and does not include coverage amount under the Optional In-built Covers). The last increase in the Sum Assured would happen just after the completion of 10th Policy Year and the Sum Assured thereafter would remain at that level for the remaining term of the contract.
The Sum Assured of the Non-Working Spouse will remain constant throughout the Policy Term.
Following Optional In-built Covers can be opted in addition to the Plan Option.
Note: Accidental Total & Permanent Disability benefit cannot be co-opted with Critical Illness Benefit and vice-versa.
| Accidental Death Benefit (ADB) | This will be an additional benefit i.e. on occurrence of death due to Accident, the applicable Sum Assured on Death plus the ADB Sum Assured will be paid and Policy will terminate. |
| Accidental Total & Permanent Disability (ATPD) Premium Protection | In case of occurrence of Accidental Total & Permanent Disability, all future premiums of the impacted life under the Policy will be waived and all other coverages on this life shall continue for the remaining Policy Term as an in-force Policy. |
| Accidental Total & Permanent Disability (ATPD) Premium Protection Plus | In case of occurrence of Accidental Total & Permanent Disability, a lump sum benefit as ATPD Sum Assured will be paid immediately and all future premiums of the impacted life under the Policy will be waived. All other coverages on this life shall continue for the remaining Policy Term as an in-force Policy |
| Critical Illness (CI) Premium Protection | In case of diagnosis of any of the covered Critical Illness during the Policy Term post completion of Waiting Period and survival of impacted life till end of Survival Period, all future premiums of the impacted life under the Policy will be waived and all other coverages on this life shall continue for the remaining Policy Term as an in-force Policy |
| Critical Illness (CI) Premium Protection Plus | In case of diagnosis of any of the covered Critical Illness during the Policy Term post completion of Waiting Period and survival of impacted life till end of Survival Period, a lump sum benefit as CI Sum Assured will be paid immediately and all future premiums of the impacted life under the Policy will be waived and all other coverages on this life shall continue for the remaining Policy Term as an in-force Policy |
| Terminal Illness (TI) | In case of diagnosis of Terminal Illness, lump sum benefit shall be paid immediately. This is a 100% accelerated benefit. Hence on payment of TI benefit, Death Benefit amount shall be reduced to the extent of claim paid under TI benefit. On diagnosis of TI during the Policy Term, all other Optional In-built Covers and their corresponding premiums will cease immediately and Policy shall continue for remaining Death Benefit only subject to payment of premiums for base Death Benefit as and when due. |
| Child Care Benefit (CCB) | This is an additional benefit which can be opted to safeguard child’s future. Apart from the amount payable on death of Life Assured/Working Spouse, as applicable, the CCB Sum Assured will also be payable when age of child is between 0 to 21 Years at the time of death of impacted life. The CCB Sum Assured may be utilized to take care of all the milestones planned for child. |
| Block Your Premium (BYP) Benefit | Under this benefit, Life Assured/Working Spouse, as applicable, will have option to block their premium rate of base Death Benefit at policy inception for a period of 5 Years during which Life Assured/Working Spouse, as applicable, can request for increase in benefit amount payable on death (BYP Sum Assured) up to 25%/50%/75%/100% of the Sum Assured, as chosen at policy inception for respective live(s), without any additional underwriting and irrespective of the attained age of the Life Assured / Working Spouse, as applicable, at the time of such increase provided Policy is in-force. This percentage shall be chosen at Policy inception itself. |
| Steps | Details |
|---|---|
| 1 |
Select one of the Plan Options as per your Life Insurance needs Life Secure
Life Secure with Income
Life Secure with Return of Premium
|
| 2 |
Select one of the Coverage option as per your Life Insurance needs Level Cover
Increasing Cover
|
| 3 |
Select the Optional In-built Cover as per your Life Insurance needs Accidental Death Benefit (ADB)
Accidental Total & Permanent Disability Benefit (ATPD) – Premium Protection
Accidental Total & Permanent Disability Benefit (ATPD) – Premium Protection Plus
Critical Illness (CI) Benefit – Premium Protection
Critical Illness (CI) Benefit – Premium Protection Plus
Child Care Benefit (CCB)
Terminal Illness (TI)
Block Your Premium (BYP)
|
| 4 | Option to cover Spouse |
| 5 |
Select any one of the Death Benefit Payout Options at the time of point of sale Lumpsum
Monthly Income
Part Lumpsum & Part Monthly Income
For Part Lump sum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% and 75% / 25%. Within Monthly Income, choose level / increasing (@ 5% p.a. or @ 10% p.a.) Monthly Income and receive it in equal monthly installments over 60 months. |
| PARAMETERS | DESCRIPTION | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Age at Entry (age as on last birthday) |
Life Assured/Spouse: 18 years | ||||||||||
| Maximum Age at Entry (age as on last birthday) |
65 years, except for the following: Single Premium: 40 years For PPT of ‘Up to 60 years’: 55 years Non-working Spouse: 50 Years (40 years for Single Premium) |
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| Maximum Maturity Age (subject to maximum Policy Term) |
99 years (80 Years for Single Premium or for a Non-Working Spouse) If ADB/ TI/ ATPD PP/ATPD PPP Optional In-Built Cover are opted, maximum maturity of the base plan as well as these Optional In-Built Covers will be 75 years. |
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| Minimum Policy Term#$ | 5* years | ||||||||||
| Maximum Policy Term#$ | 81 Years (99 minus age at entry)**$$$ for Regular Pay/Limited Pay)/62 Years (80 minus age at entry**$$$ for Single Pay) | ||||||||||
| Premium Payment Term (PPT)^^@@/#^ | Single Pay (Not applicable where Maturity Age is above 80 Years) Regular Pay Limited Pay options of 5^/10/15/20/25/Up to age 60 years@ |
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| Premium Frequency |
Yearly/Half Yearly/Quarterly/Monthly/Single The Policyholder may change the premium payment mode anytime during the PPT under Life Secure and Life Secure with Income Plan Option subject to application of modal factor. There is no fee on such alteration.
|
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| Minimum Sum Assured | Rs. 25 Lakhs Critical Illness Sum Assured: Rs. 5 Lakhs |
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| Maximum Sum Assured | No Limit (Subject to Board Approved Underwriting Policy) ; For Non-working Spouse: Rs.50 Lakhs Optional In-built Covers (subject to underwriting) ADB/Terminal Illness Sum Assured: Rs. 2 Crore ATPD Sum Assured: Rs 1 Crore Critical Illness Sum Assured: Rs. 50 Lakhs capped at 50% of Base Sum Assured |
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Note:
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| Premium | Would vary and depends on the Age, Gender, Tobacco usage, chosen Plan Option, Coverage Option, Sum Assured, Policy Term, Premium Payment Term, Premium Payment Mode, Optional In-built Cover(s) available under the plan and Underwriting. | ||||||||||
#Policy Term for Spouse Coverage as well as ADB / ATPD / TI benefits will be same as that applicable for base Death Benefit for all the Plan Options.
*5-9 years of Policy Terms are only available for ages at entry of 35 years and above.
** Age at Entry is the higher of the Age (last birthday) of the Life Assured and Working Spouse (where applicable)
$The Policy Term for CI benefit shall be lower of the Policy Term applicable for base Death Benefit or 70 - Age at Entry
$$The Policy Term for CI benefit shall be same as that applicable for base Death Benefit
$$$The Policy Term for CCB shall be lower of the outstanding PT for the base Death Benefit or 21 minus the Age last birthday of Child of the Life Assured / Working Spouse, as applicable, at the time this option becomes effective. The Life Assured / Working Spouse shall independently choose the Policy Term of the base Death Benefit and CCB.
^5 years PPT with Policy Terms up to 9 years is only available for ages at entry of 35 years and above.
#^ PPT for Spouse Coverage as well as ADB / ATPD / TI benefits will be same as that applicable for base Death Benefit
@This PPT option will be available subject to a minimum PPT in the Policy being 5 years and will be calculated as 60 minus age at entry. Further, this option is not available if Spouse coverage (working or non-working) is selected.
^^The Life Assured/Working Spouse shall independently choose the Premium Payment Term for CCB which should be less than or equal to the Premium Payment Term of the base Death benefit, subject to PPT Option being same for both base Death Benefit and CCB.
@@The Life Assured / Working Spouse shall independently choose the Premium Payment Term for CI benefit which should be less than or equal to the Premium Payment Term of the base Death benefit, subject to PPT Option being same for both base Death Benefit and CI benefit.
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