Canara HSBC Child Plan

The Canara HSBC Child Plan is an investment option that offers a combination of savings and protection benefits tailored to meet the evolving needs of your child as they grow. These plans aim to build a solid foundation for building a secure financial future for your child.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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What is the Canara HSBC Child Plan?

Canara HSBC Child Plan is a type of insurance plan offered by Canara HSBC Life Insurance that is designed to help parents save for their child's future education and provide financial protection in case of the parent's death.

Features of Canara HSBC Child Plan

  • Flexibility: Some plans allow customization of premium payment, policy term, and sum assured to suit specific needs and budgets.

  • Premium Payment Flexibility: Choose regular, single, or limited-pay premium options to fit your budget.

  • Sum Assured: Customize the sum assured to meet your desired financial coverage level.

  • Plan Options: Choose from traditional endowment plans, unit-linked plans (ULIPs), or government-sponsored plans to suit your risk appetite and goals.

  • Policy Term Options: Select a policy term that aligns with your child's age and future milestones.

  • Partial Withdrawals: Certain plans allow tax-free partial withdrawals after a specific period to address unexpected needs.

Benefits of Canara HSBC Child Plan

The key benefits of Canara HSBC child plans are listed below:

  • Education Milestones: Specific plans offer guaranteed payouts aligned with crucial education milestones, like higher education expenses.

  • Riders: Add optional riders like critical illness cover, accidental disability cover, or waiver of premium for enhanced protection.

  • Loyalty Additions & Bonuses: Some plans offer loyalty additions and bonuses on top of guaranteed benefits.

  • Guaranteed Benefits: The Canara Child Plans ensure fixed payouts for education or maturity, offering peace of mind to parents.

  • Life Cover: Parents' plans include life cover, providing a lump sum for the child's needs if the parent passes away.

  • Tax Benefits: Premiums are tax-deductible under Section 80C, and maturity proceeds are tax-free as per certain conditions under Section 10(10D).

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Secure your child’s future with or without you
Start Investing
₹10,000/Month
& Get
₹1 Crore*
*Standard T & C Apply

List of Canara HSBC Child Plan

The popular Canara HSBC Life Insurance child plans are listed in the following table:

Aviva Life Child Plan Entry Age Maximum Maturity Age Premium Payment Term (PPT) Policy Term (PT) Minimum Annualised Premium (in Rs.) Tax Benefits u/ IT Act, 1961
Canara Smart Junior Plan 18 – 50 years 70 years 13 – 25 Year PT: PT minus (-) 8 years;
12/15/20 Year PT: 5 years;
19 – 25 Year PT: 10 years
12 – 25 years ₹3,00,000 Section 80C and Section 10(10D)
Canara HSBC Invest 4G Plan (Life Option) 0 – 65 years 18 – 80 years Single Pay;
Limited Pay: 5 to PT minus (-) 1;
Regular Pay: Same as PT.
Single Pay: 5 – 30 years (depending on Entry Age);
Limited/ Regular Pay: 10 – 30 years
Single Pay: ₹1,00,000;
Limited/ Regular Pay: ₹24,000
Section 80C and Section 10(10D)
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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Sukanya Samriddhi Yojana Calculator

Details of Canara HSBC Child Plan

  1. Canara HSBC Smart Junior Plan

    The Canara HSBC Smart Junior Plan is a financial product designed to help parents or guardians save and invest for their child's future financial needs, such as education expenses, marriage, or other long-term goals. It typically combines life insurance coverage with investment options to provide both protection and wealth accumulation benefits.

    Features of Canara HSBC Smart Junior Plan:

    This insurance plan offers several benefits tailored to secure your child's future:

    • Guaranteed Payouts: During the final 5 years of the policy, you'll receive guaranteed payouts. These coincide with your child's educational milestones, providing financial support regardless of market conditions.

    • Limited Premium Payment Term: Opt for a limited premium payment term, streamlining your financial obligations to focus on other goals in later years.

    • Policy Loans: Access policy loans after a specified duration, offering financial flexibility when needed.

    • Loyalty Additions: By maintaining the policy for a certain duration, you may qualify for loyalty additions, further enhancing the policy's benefits.

  2. Canara HSBC Invest 4G Plan

    The Canara HSBC Invest 4G Child Plan is a comprehensive savings and investment plan designed to secure your child's future financial needs. It offers a combination of life insurance coverage and investment opportunities to help you build a corpus for your child's education, career, and other milestones.

    Features of Canara HSBC Invest 4G Plan:

    • Investment Opportunities: Choose from various unit-linked funds to match your risk tolerance and investment goals.

    • Riders: Add-on benefits like accidental death, disability, and critical illness coverage are available.

    • Maturity Benefits: Receive the fund value plus bonuses upon policy maturity.

    • Tax Benefits: Enjoy tax savings on premiums paid under Section 80C of the Income Tax Act.

    • Flexibility: Pay premiums monthly, quarterly, half-yearly, or annually. Adjust the sum assured and switch between funds as needed during the policy term. 

In Summary

The Canara HSBC Child Plan offers a comprehensive solution for securing a child's future with its blend of insurance and investment options. The company stands as a robust choice for parents seeking to safeguard their children's future aspirations by focusing on financial protection and wealth accumulation.

Canara HSBC Child Plans - FAQs

  • Which is the best child plan in Canara Bank?

    Canara Bank offers a variety of child plans to suit different risk appetites and financial planning:
    • Canara Guaranteed Income4Life

    • Canara Guaranteed Savings Plan

    • Canara Money Back Advantage Plan

    • Canara Smart Junior Plan

    • Canara HSBC Invest 4G Plan

  • What is the plan of Canara Bank for a girl child?

    While Canara Bank offers various child plans, they have two specific options designed specifically for girl children:
  • How to pay a premium? What are the modes of payment available?

    The Canara HSBC Oriental Bank of Commerce Life insurance company Ltd. offers 2 modes of premium payment namely:
    • Online Payment

    For the online payment mode, the policyholder can pay via;

    • Credit Card,
    • Debit Card
    • Net banking
  • How can I check policy status for Canara HSBC child plans?

    Regisitered users can check their policy status online by loging into e-Portal
  • What is the policy renewal process for Canara HSBC child plans?

    You can pay your renewal premium in 5 easy steps online, if you are a registered user:

    Step1: Enter your Client ID and Date of Birth to login into e-portal

    Step2: Choose the policy for which you want to pay

    Step3: Select the payment option – Debit/Credit Card or Net Banking to pay

    Step 4: Upon successful payment completion print/save the premium deposit receipt

  • What is the company’s process to settle claim for Canara HSBC child plans?

    The nominee can visit the branch personally with the policy document and death certificate. The nominee must fill a claim intimation form and then the company will provide a reference number to him. Usually within the 30 days the death claim without investigation cases gets cleared.
  • What is the policy cancellation process for Canara HSBC child plans?

    You can the nearest branch personally with your policy documents and a duly filled surrender form. Upon successful acceptance at the counter, your policy will be cancelled and refunds directly credited in your bank account.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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Child Plan 2
Average Rating
(Based on 25 Reviews)

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Canara HSBC Child Plans Reviews & Ratings

4.5 / 5 (Based on 25 Reviews)
(Showing Newest 10 reviews)
Neil
Baran, March 02, 2021
Save your money
I saved my money when I bought the child insurance plan of canara hsbc. I believe it is one of the best decision I did for my daughter. She is right now 4 years old and till age 18 a great corpus will become and that will be used for her education. Thanks a lot team.
Ishwar
Anjar, February 19, 2021
Low premium and great investment
I have recently bought a child insurance plan of canara hsbc child. It was all done from the website of the policybazaar. The premium rate of child plan is less and the investment is high. It is risk-free. I am happy.
Kamal
Bolpur, July 18, 2016
Claiming Is good
I have a child insurance plan which i buy from canara hsbc obc life insurance. The policy covers maximum expenditures occur in future and the future time is secured. Claiming is very easy because of quick service facilitate by the executives.
Manohar
Khalikote, July 07, 2016
Child Plan
The child insurance i purchase for my son is good policy. Service provider behave so well and the customer service is 24X7. Policy cover maximum expenditure and future of my son is secure with this insurance policy. Good claims too.
Yajan
Dangar, June 28, 2016
Nice Policy
My child plan which is very good in many ways. The premium is low and returns is good. Policy coverage is high and service facilitate by the company members is quick. Updates are regularly mailed and web service is easy to access. I'm tension free now for my child's future plans.
Omesh
Darjeeling, April 11, 2016
Marvelous Plan
Policy coverage is high ~97% and the policy claims are even better. Premiums are low approx. 30 k quarterly per year. Nice child policy plan which i buy from canara hsbc life insurance, is good investment for future and it save taxes also. Service is very good which facilitate by the executives and staff members. Good job guys.
Sandeep
Bengaluru, April 11, 2016
Great Deal
Recently i bought a child insurance policy plan for my child from canara hsbc Life Insurance. The policy having great deals and low premiums. The policy coverage is approx. 89.5% and the services are even better and on time till now, rest see in future. The claims are the best. Really happy with the policy plan.
James
Adaspur, April 11, 2016
Service Is Bit Slow
I had child policy plan for my child through canara hsbc life insurance child plan. The policy is nice, Good policy coverage ~86% and claiming amount is Rs.29.9 L after policy get mature. But the service is bit slow, please improve it. And the behaviour of the executives and staff members are nice.
Gautam
Srinagar, April 11, 2016
Good Future Investment
I found awesome child policy plan from canara hsbc life insurance. The claim is high and the policy coverage is 92%. Service you provided is fast and very quick. Daily updates are mail and texted to me. The policy is good for future investment and it saves taxes also.
Rahul
Nilgiris, April 11, 2016
Fair Policy
I purchase child policy plan by canara hsbc life insurance. Policy coverage is 89% and the claims are high. Premium is low and the services are fast and with great response from executives and staff members of the company. I'm happy with my policy plan, nice job guys.
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