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First paragraph11 words

Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

100.0%

Second paragraph11 words

Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

First paragraph16 words

Family Shield: Enhanced Protection

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

100.0%

Second paragraph16 words

Family Shield: Enhanced Protection

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

First paragraph13 words

Fixed Returns, Zero Risks & Worries

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

100.0%

Second paragraph13 words

Fixed Returns, Zero Risks & Worries

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

First paragraph61 words

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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Second paragraph61 words

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.

First paragraph30 words

What is Life Insurance Policy?

Life insurance is a financial contract between you and an insurer where, in exchange for regular premium payments, the insurer pays a sum assured to your nominees on your death.

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Second paragraph45 words

What is Life Insurance? Types and Benefits

Life Insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a sum of money to the beneficiary when the insured person dies or after a pre-determined period in exchange for the premiums paid by policyholder.

First paragraph52 words

Tax Benefits of Insurance Plans

Section 126 (previously known as 80D ): Premiums paid towards eligible health-related riders, such as critical illness riders or health insurance components attached to a life insurance policy, may qualify for tax deductions under Section 126. These deductions are available subject to the limits and conditions specified under the Income Tax Act.

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Second paragraph48 words

Tax Benefits on Life Insurance in India

Tax Benefits on Riders (Section 80D): If you choose critical illness riders or health riders along with your life insurance, the premiums paid for these add-ons are eligible for a deduction under Section 80D. This makes it possible to enhance your coverage while also saving on taxes.

First paragraph58 words

Benefits of Buying a Life Insurance Policy

Tax-Saving: Investments made with a life insurance policy make you eligible for a deduction of up to ₹1.5 lakhs in a financial year under Section 123 (previously known as Section 80C). The funds you withdraw from the policy after the lock-in period and the maturity value received from life insurance plans are also tax-free.

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Second paragraph75 words

Tax Benefits on Life Insurance in India

Tax Deduction on Premiums (Section 80C): Under Section 80C of the Income Tax Act, you can claim a deduction of up to ₹1.5 lakh on the premiums paid for your life insurance policy. This deduction applies not only to your policy but also to those taken for your spouse, children, or even parents. This makes life insurance not just a protective measure but a smart way to save on taxes while securing your future.

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Important Life Insurance Terms You Should Know

Nominee: Nominee is the person who receives the amount promised by the life insurance company in the event of the life insured's death. The nominee, also known as the beneficiary, is generally parents, wife or children of the life insured.

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Second paragraph34 words

Glossary

Premium: The amount of money you pay regularly to keep your life insurance policy active. Nominee: The person you choose to receive the benefits of your life insurance policy if something happens to you.

First paragraph35 words

4. Child Insurance Plans:

Child insurance plans, or child education plans , are a type of life insurance plan from life insurers. However, these plans are dedicated to meeting the needs of a child’s higher education and marriage goals.

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Second paragraph79 words

Different Types of Life Insurance Plans in India

Child Insurance Plan: Child insurance plans are life insurance policies that are opted to safeguard the future of your child. Along with providing a life cover, it helps in building an education fund to support your child’s dreams and aspirations. Child plans are investment plus insurance plans designed to assist you in creating wealth for your child’s future needs. You can invest in these plans right when your kid is born to build a strong financial cover.

First paragraph43 words

Important Life Insurance Terms You Should Know

Lock-in Period: Policies have a lock-in period within which you cannot withdraw or surrender the policy. For ULIPs the lock-in period is five years, while for other plans this is two years. Only investment plans have a lock-in period .

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Second paragraph76 words

Different Types of Life Insurance Plans in India

Unit Linked Insurance Plans: ULIPs are investment plus insurance plans so that you can enjoy best of both the worlds. This is a type of life insurance policy that offers life cover along with investment opportunities. Most of the ULIPs have a lock-in period of 5 years, hence, it can be considered as a long-term investment plan. It function as per market dynamics and you should understand your risk appetite before buying a ULIP.

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Sum Assured:

The sum assured is the amount of life cover provided under the policy. A higher sum assured typically results in a higher premium because the insurer is taking on greater financial risk.

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Second paragraph59 words

Why Sum Assured is an Important Factor in Life Insurance?

When you invest in a life insurance policy, one of the key elements to understand is the sum assured. The sum assured is the guaranteed amount that your family or beneficiaries will receive in case of your unfortunate demise or after the policy matures. It plays a crucial role in determining how well your loved ones are financially protected.

First paragraph96 words

7. Money Back Plans:

Money-back plans are insurance plans that offer guaranteed returns on the investments. If you are looking to buy a life insurance plan that offers life cover along with regular payouts, then you may consider buying a money-back plan. These plans provide survival benefits after a few years from the start of the plan. The survival benefit will be paid out only if the policyholder is alive. However, irrespective of the survival benefits already paid, the entire sum assured is paid to the beneficiaries if the policyholder passes away when the policy is in force.

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Second paragraph80 words

Different Types of Life Insurance Plans in India

Money Back Policy: Money back policy is a type of life insurance policy that gives money-back at regular intervals. A percentage of the Sum Assured is paid back at intervals during the policy tenure. These life insurance plans offer Survival Benefits, which are paid out during the plan tenure and at maturity. If the policyholder passes away when the policy is in force, the entire Sum Assured is paid to the beneficiaries irrespective of the Survival Benefits already paid.