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Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.
FAQs
Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.
Start Young, Pay Less, Stay Secured
Coverage for spouse Block your premium rate Covers 40 critical illness
Start Young, Pay Less, Stay Secured
Coverage for spouse Block your premium rate Covers 40 critical illness
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Family Shield: Enhanced Protection
3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception
Family Shield: Enhanced Protection
3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception
Fixed Returns, Zero Risks & Worries
4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover
Fixed Returns, Zero Risks & Worries
4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover
Life Insurance - Top Selling Plans
We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.
Life Insurance - Top Selling Plans
We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.
Glossary
Anticipated Endowment: A money-back plan (Sumangal) offering payouts every few years, plus a final maturity benefit.
6 Types of Insurance Plans under Postal Life Insurance
Anticipated Endowment Assurance (Sumangal): This scheme is suitable for people who require periodical returns. It is essentially a money-back policy with an assured maximum amount of Rs. 50 Lakhs. It offers periodic payment of survival benefits. However, these payments will not be considered in case of unprecedented death of the insurant. In that event, the full assured amount and accrued bonus will be paid to the insurant’s nominee or legal heir. Other details: Policy Term: 15-20 years. Applicable Age Limit for a Term Policy of 20 Years: 19 - 40 years. Applicant Age Limit for Term Policy of 15 Years: 19 - 45 years. Periodical Survival Benefits: For a 15 Years Policy - 20% of the assured sum is paid after 6, 9, and 12 years. 40% of the assured sum with bonus is paid on maturity. For a 20 Years Policy - 20% of the assured sum is paid after 8 years, 12 years, and 16 years. 40% of the assured sum with bonus is paid on maturity.
Eligibility and Plan Options under Postal Life Insurance
Postal Life Insurance (PLI full form) addresses a niche but considerable constituency, mainly employees of central and state governments, public sector undertakings (PSUs), educational institutions, nationalised banks, and some approved private organisations. The exclusivity in eligibility is offset by the dependability and features provided on its life insurance policies , each designed for a particular phase of life and expense.
What is the Postal Life Insurance Scheme?
Postal Life Insurance is an insurance scheme that the Government of India offers to Central and State Governments, public sector undertakings, educational institutions aided by the Government, nationalised banks, etc.
Plan Insights: What Makes Each Unique
Yugal Suraksha - Family-first Protection: This joint-life policy is unique in providing double coverage to spouses within a single premium plan. It eases family financial planning and protects the family even in the case of the death of one income-earner.
6 Types of Insurance Plans under Postal Life Insurance
Joint Life Assurance (Yugal Suraksha): This scheme is a joint-life endowment assurance that entails the eligibility of one of the spouses for PLI policies. Other details: It provides life cover for both spouses to the extent of an assured amount with accrued bonus. Assured Minimum Sum : ₹20,000. Assured Maximum Sum : ₹50 Lakhs. Age Limit of Spouses to be Applicable: 21 - 45 years. Loan Facility : After 3 years. In case of the death of a spouse or the main policyholder, death benefits are paid to either of the survivors.
Glossary
Policy Loan Facility: A low-interest loan (10%) offered against the policy’s surrender value after 3- 4 years. Joint Life Assurance: A single policy covering both spouses under one premium, unique to Yugal Suraksha.
6 Types of Insurance Plans under Postal Life Insurance
Joint Life Assurance (Yugal Suraksha): This scheme is a joint-life endowment assurance that entails the eligibility of one of the spouses for PLI policies. Other details: It provides life cover for both spouses to the extent of an assured amount with accrued bonus. Assured Minimum Sum : ₹20,000. Assured Maximum Sum : ₹50 Lakhs. Age Limit of Spouses to be Applicable: 21 - 45 years. Loan Facility : After 3 years. In case of the death of a spouse or the main policyholder, death benefits are paid to either of the survivors.