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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.

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Second paragraph125 words

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.

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Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

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Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

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Popular Searches

Term Life Insurance Whole Life Insurance Critical Illness Insurance Accidental Death Benefit Rider Compare Life Insurance Quotes Best Life Insurance Companies In India Factors Affecting Life Insurance Premiums

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Popular Searches

Term Life Insurance Whole Life Insurance Critical Illness Insurance Accidental Death Benefit Rider Compare Life Insurance Quotes Best Life Insurance Companies In India Factors Affecting Life Insurance Premiums

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Popular Searches

Life Insurance Rider Life Insurance Plans Types of Life Insurance Term Life Insurance Tax Benefit What is Insurance? Life Insurance Premium Life Insurance For Children

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Popular Searches

Life Insurance Rider Life Insurance Plans Types of Life Insurance Term Life Insurance Tax Benefit What is Insurance? Life Insurance Premium Life Insurance For Children

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Popular Searches

Life Insurance for Seniors Whole Life Insurance Plans Group Life Insurance Plans Life Insurance Claim Process Tax Benefits of Life Insurance

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Popular Searches

Life Insurance for Seniors Whole Life Insurance Plans Group Life Insurance Plans Life Insurance Claim Process Tax Benefits of Life Insurance

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Family Shield: Enhanced Protection

3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception

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Family Shield: Enhanced Protection

3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception

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Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

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Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

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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.

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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.

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Key Takeaways

From 22 September 2025 , individual life insurance premiums are GST-free, improving affordability Term insurance, ULIPs, and endowment plans benefit directly, while group policies will remain taxed at 18%

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Impact on Term Plans, ULIPs, and Endowment Policies

From September 22, 2025, life insurance premiums will be exempt from GST, a move that brings substantial relief to policyholders. Here’s how it plays out across different types of insurance:

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Glossary

Term Plan: A type of life insurance that provides financial protection for a fixed period at an affordable cost. ULIP (Unit-Linked Insurance Plan): An insurance plan that combines life cover with investment in market-linked funds.

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Glossary

ULIP (Unit Linked Insurance Plan): A policy that combines life cover with market-linked investments in equity or debt funds Endowment Policy: A traditional life insurance plan offering both insurance coverage and savings benefits over a fixed term

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Impact on Term Plans, ULIPs, and Endowment Policies

Term Insurance GST: Your pure protection plan premium will become cheaper, meaning your family gets the same coverage for less money. For example, a ₹10,000 annual premium that previously included ₹1,800 GST, will save you that amount outright.

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Impact on Term Plans, ULIPs, and Endowment Policies

Term Insurance- Term plans, which offer pure protection, will see the most straightforward benefit. Premiums will now cost less, as the GST portion is removed. For example, on a policy with a ₹10,000 annual premium, policyholders will no longer have to pay the additional ₹1,800 in tax. This means the same coverage can now be secured at a lower price.

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From Which Date Will Life Insurance be Exempt From GST at 0%?

The Finance Ministry has announced that from September 22, 2025, the GST on life insurance premiums will be reduced to 0%. An official notification has been issued by the Government . This will apply to both new policies and renewal of policies with a due date of payment on or after 22nd Sept, 2025.

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GST on Life Insurance

However, the GST Council has announced that GST on life and health insurance premiums will be reduced to NIL, effective September 22, 2025. This means policyholders no longer need to pay GST on their insurance premiums, making insurance more affordable and accessible.