Canara Life HSBC iSelect Guaranteed Savings Plan

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Guaranteed Savings Plan

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.

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KEY FEATURES

  • Guaranteed benefits payable on maturity, provided all due premiums have been paid.
  • Provides life cover for the entire term while you pay premium only for a limited period.
  • Enhanced Protection for your family - Life insurance protection through payment of lump sum benefit on death, all remaining premiums need not be paid and guaranteed benefits payable on maturity (under Guaranteed Savings with Premium Protection Option).
  • Flexibility to choose a payment term suitable for you - Choice of premium payment terms which can closely align to your payment capacity and horizon.
  • Customize your savings horizon to your important financial goals - Multiple policy term options to help you select the best suited policy term which is closely aligned to your financial goals.
  • Better value for higher premium commitment - High Premium Booster to ensure that you get extra benefit for making a higher premium commitment.
  • Tax benefits# on premium paid and benefit received under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time.

How does the Plan Work?

You can customize the policy in just 3 easy steps:

1- Choose your plan option and how much you want to save towards your goal. In short, choose your premium amount.

2- Choose your Premium Payment Term (PPT)/Policy Term (PT), Premium Payment Mode, Options In-built Cover (Payor Premium Protection Cover3), as per your financial goals.

3- Guaranteed Benefits at Maturity2 will be determined on the basis of your age and the options chosen and will be payable every year post completion of Premium Payment Term.

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Frequently Asked Questions
  • You can customize the policy to suit your financial goals and requirements

    Choose your plan option Depending on your financial need,

    Choose your premium amount. You can check the guaranteed amount available at policy maturity to ensure that your financial needs are met.

    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.

  • Sum Assured

    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.

  • Premium Payment Modes

    Premium can be paid in yearly, half-yearly, quarterly, monthly and single modes.

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