Canara HSBC Smart Future Income

Canara HSBC Smart Future Income is designed to provide financial planning through a systematic savings pattern. Guaranteed monthly income, lump-sum benefit, guaranteed protection, loan availability, and tax benefit are the main features of this plan. Guaranteed monthly income is for 15 years, and the income received is tax-free. *

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  • 4.8~ Rated
  • 7.7 Crore Registered Consumer
  • 50 Partners Insurance Partners
  • 4.2 Crore Policies Sold

Investment Plans

  • Guaranteed Tax Savings^Under sec 80C & 10(10D)
  • Under sec 80C & 10(10D)Invest ₹10k Per Month*
  • Zero LTCG Tax^
Buy Online & Get upto 4% extra#
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
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rating
7.7 Crore
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Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Buy Canara HSBC Smart Future Income for convenient limited premium payment terms. The plan is designed to maintain a respectable and stress-free lifestyle during retirement years. The plan comes with a death benefit, income benefit, and maturity benefit. Bonuses such as annual bonuses and final bonuses are added to the sum assured amount periodically. 

*Terms and Conditions apply

 Canara HSBC Smart Future Income

Parameters  Details 
Policy Tenure 25 years
Premium Paying Term 10 years
Premium Paying Mode Canara HSBC Smart Future Income can be on an annual or monthly basis. Premium mode can be changed. To arrive at the monthly premium payable, the annual premium is multiplied with a factor of 0.09.
Entry Age Minimum age at entry is 18 years Maximum age at entry is 55 years
Maturity Age Max age at maturity is 80 years
Grace Period 30 days from the date of unpaid premium. For monthly and PSP mode, it is 15 days. If premiums are not paid within the grace period, the policy lapses. 
Sum Assured Minimum sum assured is 100 multiplied by the chosen monthly income.
Liquidity  Every year annual bonus (simple reversionary bonus) is added to the policy, provided Canara HSBC Smart Future Income policy status is in-force. The policy can also receive a final bonus (terminal bonus). Accrued bonuses are paid along with the sum assured at policy maturity or as the death benefit. 

Benefits of the Canara HSBC Smart Future Income

Online Canara HSBC Smart Future Income has the following benefits:

  • Maturity Benefit: Upon surviving the policy term, the policyholder receives the sum assured, along with the reversionary bonus and terminal bonus, if any. The policy must be in force. There is no guaranteed maturity lump-sum sum assured amount. 
  • Death Benefit: The death benefit is given to the nominee of the policyholder on the unfortunate death of the latter. It is computed as the higher of the sum assured, or 10 times the annualized premium. Death benefit contains accrued bonuses (if any). The minimum death benefit payable is 105% of all premiums paid until the date of the policyholder's demise. 
  • Policy Loan Benefit: Once the Canara HSBC Smart Future Income status has acquired a surrender value, a loan can be taken against the policy. The minimum loan that can be availed is Rs. 20,000, and the maximum loan that can be availed is 80% of the prevailing surrender value. Loan facility is not available once the policyholder starts receiving monthly income. If any loan exists, then the new loan will be adjusted to deduct the outstanding loan amount and interest thereon. 
  • Surrender Benefit: The policyholder shall be eligible for a surrender benefit after completing two policy years and the cumulative surrender sum is the premiums paid-up, the premium bonus after removal of monthly income sum. 
  • Tax Benefits: Tax benefits for the PNB MetLife Bachat Yojana can be claimed under Section 10(10D) and Section 80C of the Income Tax Act,1961.

          * Tax benefit is subject to changes in tax laws

The Premiums for Canara HSBC Smart Future Income

The online Canara HSBC Smart Future Income has 10 years premium payment term. *

Minimum monthly income should be Rs. 5000 per month to avail premium-paying status. Premium depends on factors such as monthly income, entry age, and premium mode chosen. Use the Canara HSBC Smart Future Income calculator to compute the premium.

*Standard T&C Apply

Additional Riders for Canara HSBC Smart Future Income

There are no additional riders available in Canara HSBC Smart Future Income policy and the individual may consult the policy brochure available online for more information.

Eligibility for Canara HSBC Smart Future Income

Minimum age at entry for Canara HSBC Smart Future Income policy is 18 years and maximum age for entry is 80 years. Max age at maturity is 43 to 80 years. 

What are the Documents Required to Buy this Policy?

To buy Canara HSBC Smart Future Income, the individual needs:

  • ID: Driver’s license, Aadhaar, Voter’s ID or Passport
  • Address proof: PAN card, Aadhaar, Phone/electricity or other amenities bills
  • Applicant’s photo
  • Canara HSBC Smart Future Income application form 
  • Income documents: ITR or Salary certificate

How to Buy this Plan Online?

The individual can purchase the policy online by:

  • Visiting the official website of Policybazaar and downloading the policy application form.
  • Filling the application form with details like First name, Date of birth, policy premium term, premium payment mode and other plan details.
  • Submitting the application form by attaching the documents mentioned above 
  • Completing the purchase process by paying the premium using net-banking, debit/credit card or e-wallet.

Exclusions of Canara HSBC Smart Future Income

Under Canara HSBC Smart Future Income plan there is suicide exclusion where the policyholder or nominee will receive cover in case of suicide attempt that has occurred within a year of the policy.

FAQ's

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Canara HSBC Smart Future Income Reviews & Ratings

4.6 / 5 (Based on 1224 Reviews)
(Showing Newest 10 reviews)
Sushil
Guwahati, January 27, 2025
Transparent Information
I appreciate how Policybazaar presents transparent information about fees NAVs and fund objectives. It made decisionmaking much easier.
Manish
Ranchi, January 26, 2025
Easy Investment Process
Investing in NFOs through Policybazaar has been incredibly convenient. The process is straightforward and I was able to choose my preferred NFOs without any hassle.
Priyanka
Bhubaneswar, January 24, 2025
Trustworthy Option
Axis Max Life Sustainable Wealth fifty Index Fund is a trustworthy investment and Policybazaars platform makes investing easy and accessible for everyone.
Amit
Mumbai, January 18, 2025
Flexibility
Investing through Policybazaar allows for flexible investment options. Whether its SIP or lump sum I can choose what fits my financial goals.
Neha
Visakhapatnam, January 18, 2025
Easy KYC Process
The KYC verification was simple and fast which made my investment journey smooth.
Prashant
Udyapur, January 16, 2025
Good
I gifted life traditional plan to my wife. The policy coverage is 95% and the claims are Rs.41 L. Services provided by the executives is really very good and online facility also there which have easy interface. My wife is happy with this policy, so m i. Good Job.
Karan
Kota, January 16, 2025
Nice
I have the best policy plan from pnb metlife life insurance. The benefits are many with low premiums. Policy coverage is 91%. Claims approx. Rs.39 L with easy procedure to get it. Good future investment. I'm happy with it.
Harish
Mysore, January 16, 2025
Normal Plan
I Bought pnb metlife life insurance and took traditional insurance policy plan. The policy is average and the coverage is 70%. The claims are normal but the premiums are low. The service is okay which provided by the staff members. Good future investment and tax cutter also. Satisfied.
Gaurav
Hoshiarpur, January 16, 2025
Fair Policy
Buy traditional plans from pnb metlife life insurance. The policy coverage is around 85%. Services provided by executives is awesome. Claims are good and done without any interruption. Overall fine life insurance which have low premiums. Nice future investment and it saves taxes also.
Abhinav
Kolkata, January 16, 2025
Average
I have traditional plan from pnb metlife life insurance. Policy coverage is 83% and the claims are Rs.37 L. Service is good and quick provided by the executives and staff members. But please improve your online services. Good future investment which saves taxes too. Nice work.
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