Canara HSBC Secure Bhavishya Plan

Canara HSBC Secure Bhavishya Plan Details:

Benefits of Canara HSBC Secure Bhavishya Plan

Canara HSBC Secure Bhavishya Plan has the following set of core benefits:

1. Death Benefit

   This is applicable wherein the higher of the fund value or up to 105% of all the regular plus top-up premiums paid until death is applicable. 

2. Maturity Benefit

   A guaranteed maturity benefit is applicable subject to payments of all due premiums and remains pegged at 101% of the total premiums paid.

   You get the flexibility to pay any number of additional top-ups depending on your ever-changing retirement needs.

3. Loyalty Additions

   The Canara HSBC Secure Bhavishya Policy will boost your fund value every five years, after the 10th policy year, by including loyalty additions. 

4. Fund Choice

   Based on your risk profile, you can choose from different available funds. While Pension Growth funds are high in risk and returns, pension debt funds are a safer choice. Also, there is a Pension Balanced fund if you want moderate returns and willing to take some risks.

5. Tax Benefit

   The premiums paid for the Canara HSBC Secure Bhavishya Policy qualify for certain tax benefits under the Income Tax Act.

* Tax benefit is subject to changes in tax laws

The Premium for Canara HSBC Secure Bhavishya Plan

The premium payable under this plan can be broadly categorized into three groups:

• Single Pay – One-time premium payment starting from Rs. 3,00,000
• Regular/Limited Pay – Monthly and Annual modes of premium payment. Amounts of premium vary as per the number of years.
• Top-ups – Allows top-up premiums starting from Rs.10,000

Canara HSBC Secure Bhavishya Plan premium offers flexibility and ease while planning to build your retirement corpus.

Additional Riders for Canara HSBC Secure Bhavishya Plan

Not Available.

Eligibility for Canara HSBC Secure Bhavishya Plan

Entry Age: 25 to 70 years

• Vesting Age: 40 to 80 years
• The Vesting Age is 55 to75 years if the policy is issued under QROPS

What are the Documents Required to Buy this Policy?

To buy Canara HSBC Secure Bhavishya Plan, the below documents are required:

• Identity proof, such as Aadhar card or passport
• Address proof, such as ration card or voter's ID
• Recent photograph

How to Buy this Plan Online?

The option for online Canara HSBC Secure Bhavishya Plan is currently not available. It can be purchased offline by following the below-mentioned steps:

• Go to the “Meet our Advisor” section on the product page
• Fill in your name, email id, city, pin code, and mobile number and submit
• An advisor from the insurer’s team will reach out to you to discuss the plan in detail
• Decide your investment strategy and vesting age (retirement age)
• Choose your premium paying term, mode, and amount
• The advisor will help you arrive at your final premium amount and benefits applicable
• Refer to the case study or use the Canara HSBC Secure Bhavishya Plan calculator to arrive at your premium and retirement benefits

Exclusions of Canara HSBC Secure Bhavishya Plan

Suicide Exclusion – If the insured person dies by suicide within 12 months of the policy start date or policy revival date, the nominee or the claimant is eligible for fund value as available on the date of intimation of death. Any previously recovered charges before the insured’s death will also be returned to the claimant.

FAQ's