Terms & Conditions
  • *T&C Applied. Returns guaranteed by the Insurer as per the Insurance Plans.
  • **Returns guaranteed by the insurer
  • *** Tax adjusted Returns - assuming 30% tax bracket

Canara Future Smart Plan

*Please note that the quotes shown will be from our partners

Canara Future Smart Plan

Canara Future Smart Plan is a unique insurance plan that provides coverage to a policyholder's child, in case the insured dies due to unfortunate accidental/natural causes. This comprehensive insurance cover provides a sum assured on death and a premium funding on death/disability. This customisable Canara Future Smart Plan policy aids in securing the future of a child from any uncertainties that might arise out of unforeseen circumstances during the absence of his/her parents.

Canara Future Smart Plan Details



Policy Tenure

Minimum: 10 years

Maximum: 25 years

Premium Paying Term

10 years/ 15 years/ 20 years/ 25 years

Premium Paying Mode


Entry Age

Minimum: 18 years

Maximum: 60 years

Maturity Age

No minimum limit

Maximum: 70 years

Grace Period

30 days

Sum Assured

For entry age less than 45 years:

1.                   For PPT of 10/15/20 years, 10 times of annualised premium

2.                   For PPT of 25 years, 12.5 times of annualised premium


For entry age of 45 years & above, 7 times of annualised premium


Rs. 10,000 minimum partial withdrawal (available from the sixth year of the policy tenure)

Benefits of Canara Future Smart Plan

  • Maturity Benefit: A maturity benefit is payable under Canara Future Smart Plan, where the insurer pays the policyholder with a fund value. To avail the maturity benefit, the age of the insured cannot exceed 70 years.
  • Death Benefit: In case the policyholder dies within the policy tenure, the nominated child would receive the pre-determined amount of sum assured. This benefit amount will never be less than 105% of the total premium paid till death.
  • Surrender Benefit: If the policyholder decides to surrender his/her Canara Future Smart Plan within five years of its inception, the surrender value would be transferred to the Discontinued Policy Fund which will earn a 4% of minimum guaranteed interest rate, subject to the decisions of IRDAI. However, if the Canara Future Smart Plan policy is surrendered after five years of the policy tenure, the surrender benefit would be paid immediately, and the Canara Future Smart Plan policy status would be considered terminated with immediate effect.
  • Tax Benefit: An insured can avail tax benefits under Section 80C and Section 10(10D) as per the Income Tax Act, 1961.

* Tax benefit is subject to changes in tax laws

Premiums for Canara Future Smart Plan

For Canara Future Smart Plan premium, an insured person can pay the annual premiums in various premium paying terms, such as 10/15/20/25 years.

  • The minimum annual premium available under this plan is Rs. 25,000 (Rs. 50,000 for 10 years)
  • There is no maximum limit for annual premiums under this policy.

One can calculate these premiums easily on the Canara Future Smart Plan calculator.

Additional Riders for Canara Future Smart Plan

Currently, there is no information available regarding the additional riders under this policy. However, one can directly consult the insurer to gather information about the same.

Eligibility for Canara Future Smart Plan

To be eligible to buy Canara Future Smart Plan, the insurance seeker must be:

  • Of the minimum age of 18 years
  • Or the maximum age of 60 years

What are the Documents Required to Buy this Policy?

The following documents might be required to buy an online Canara Future Smart Plan. Please note that the insurer may ask for more details/documents, as per their norms and regulations:

  • Identity proof (Aadhar card/voter's card/driving license/passport)
  • Address proof (Aadhar card/ voter's card/ driving license/ passport)
  • A recent photograph
  • Bank account proof
  • Income proof (if mentioned)
  • Medical report (if mentioned)

How to Buy this Plan Online?

It is easy to buy Canara Future Smart Plan by following the simple steps given below:

  • Visit the official website of Canara Future Smart Plan.
  • Choose the policy term, paying term, and the annual premium amount.
  • Choose the sum assured and premium funding benefit option.
  • Choose the preferred investment fund.
  • Fill-up proposal form.
  • Submit and wait for approval.

Exclusions of Canara Future Smart Plan

In the case of the policyholder's death due to suicide within 12 months from the date of policy inception, the Canara Future Smart Plan policy status stands void immediately after the payment of benefit. The nominee shall receive the fund value on the date of death after which the policy will cease to exist.

To be sure of choosing this insurance plan, an insurance seeker can check the Canara Future Smart Plan reviews to gather the experience other buyers have had with this plan. It is always necessary to buy a policy that supports the buyer's own needs and requirements. Since it is all about securing the future of one's child, therefore it is advised to buy a plan only after extensive research and thought.


fixed deposit with life cover
Written By: PolicyBazaar - Updated: 06 January 2021

Canara Future Smart Plan Reviews & Ratings

0 / 5 (Based on 31 Reviews)
(Showing Newest 25 reviews)
Chennai , October 26, 2021
Great features
I have got day care hospitalization feature under the mediclaim policy which i have purchased from the policybazaar. It offered me lifelong renewability Cover. It includes tax exemption benefits, cashless hospitalization and many other facilities. overall i like my plan.
Kolkata , October 26, 2021
Trustworthy website
I rarely trust the online purchasing because of the possibility of fraud but Policybazaar has built my trust up. I went through the online process when I was taking care health insurance from here and i found this website trustworthy.
Surat, October 26, 2021
Helpful staff
I rarely trust the online purchasing because of the possibility of fraud but Policybazaar has built my trust up. I went through the online process when I was taking care health insurance from here and i found this website trustworthy.
Pune, October 26, 2021
Low cost plan
Such a simple and easy process to buy a policy was provided to me by Policybazaar. Someone suggested me to check the health plans on Policybazaar website. i went through a lot of plans and i found the right plan here. i bought star health insurance at low cost.
Jaipur, October 26, 2021
Good Coverage
I have bought Bajaj Allianz Health Insurance for my family and by taking a health plan, I have secured my entire family. I have got coverage against medical expenses and buying my policy online has saved my money as I did not have to pay agent fees.
Lucknow, October 26, 2021
Affordable plan
A friend of mine told me about Policybazaar. He said that he has found an affordable health plan deal in Policybazaar. I went to Policybazaar to buy the same plan. I wanted a family health plan so I took Aditya Birla health insurance and it has covered every member of my family.
Kanpur, October 26, 2021
Easy to compare
Last week i went to Policybazaar for taking health plan for my family. An executive explained the policy very well and showed me various plans out of which i chose digit health insurance and it has covered me and my wife.
Nagpur, October 26, 2021
Good plan
I was able to compare the various plans easily on the website of Policybazaar. At first, i was confused about what i should choose as so many options were given there but then i bought sbi general health insurance for my parents. I got really good senior citizen health plan.
Allahabad, October 26, 2021
Hassle free experience
I had an amazing and hassle free experience with policybazaar. Everything has beem very smooth when i was purchasing health insurance from policybazaar. Their team assisted me in well mannered way.
Ranchi, October 26, 2021
Problem resolving
I contacted the customer care of policybazaar as i was facing some difficulty. They just took a minute to solve my problem. I am happy that i have bought my health insurance from the right place. Policybazaar always give proper attention to its customers.
Haora, October 26, 2021
Supportive team
When I was buying my health insurance from the website of Policybazaar, I was a little confused about the policy. I got in touch with the customer care and the executive guided me very well and cleared all my doubts with satisfactory answers. Thanks to Policybazaar for guiding me.
Coimbatore, October 26, 2021
Smooth service
In my health insurance, company is providing me financial assistance. i have got medical coverage against medical expenses arising out of health emergency which i have taken from the Policybazaar. service of policybazaar is very smooth and fast.
Jabalpur, October 26, 2021
Good service
I have bought health insurance through the website of policybazaar. Policybazaar gave me full support and when i contacted the customer care of policybazaar for clearing some of my queries they provided me very good service. Thanks to the Policybazaar for Giving me superb service.
Gwalior, October 26, 2021
Cashless treatment
I have got cashless treatment facility in my health insurance. This will help me to save my savings as I will not have to bear the financial burden of medical expenses. Anyone who is looking for the best and an affordable health plan I would love to recommend Policybazaar to them.
Vijayawada, October 26, 2021
Easy Reimbursement
My experience with Policybazaar has been great. I had taken senior citizen health insurance for my mother from Policybazaar. Last month, she was admitted to the hospital due to a medical emergency. When she got discharged I connected with Policybazaar for reimbursement of hospital bills and I got it immediately
Jodhpur, October 26, 2021
No claim bonus
Policybazaar is totally worthy place to buy any kind of plan. I have been using senior citizen health insurance for a long time which i had take for my parents. I never raised the claim request so i got discount on the premium rate when i was renewing the plan.
Madurai, October 26, 2021
Add on cover
I am using senior citizen health insurance since last year which i had taken from the policybazaar and recently i have customized my health plan with add on cover and added some additional features to it which i got at an affordable rate.
Raipur, October 26, 2021
Low premium
I have taken senior citizen health insurance for my parents. It has Coverage against medical expenses. Pre hospitalization, post hospitalization expenses features are covered under the plan. It has low premium rate and covered huge number of benefits.
Kota, October 26, 2021
Easy Reimbursement
I got reimbursement in hospital bills. I bought senior citizen health insurance for my mother from Policybazaar and a month back she faced some medical problems. I connected with policybazaar for reimbursement and i got it without any hassle.
Guwahati, October 26, 2021
Pocket friendly plan
I was looking for senior citizen health insurance for a long time which I wanted to take for my father. A relative of mine suggested me the Policybazaar website. I landed to their website and checked the health plans. In the end I finally found one that came within my budget.
Chandigarh, October 26, 2021
Affordable plan
I was looking for family health insurance for a long time. I searched a lot on Google and finally found the website of policybazaar. Here i got family health insurance according to my budget and needs. I really liked the service provided by the Policybazaar.
Solapur, October 26, 2021
High coverage
I have secured my family with the help of family health insurance which i have purchased from Policybazaar. In my health plan, i have got coverage for medical expenses. From now on i do not have to bear financial burden as my policy will give me financial protection.
Hubli And Dharwad, October 26, 2021
Good in customer handling
Policybazaar is very good in terms of handling customers. I bought family health insurance from Policybazaar and their team maintained professionalism with courteous demeanor which was absolutely impressive. I would definitely like to get in touch with Policybazaar for more plans.
Bareilly, October 26, 2021
Minimal paperwork
In my family health insurance, every member of my family are covered. there was minimal and Hassle free paperwork. I got high number of coverage and benefits under my plan. the team of policybazaar guided me and helped me to select the suitable plan.
Moradabad, October 26, 2021
Faster claim settlement
Thankfully I had taken family health insurance from Policybazaar. a while ago, i had to admitted my father to the hospital due to sudden medical emergency. i had claimed and got the claim very easily and quickly. I got faster claim settlement. I am happy with the service.