Handsome returns on investment coupled with a life insurance cover are chosen by many individuals who have a risk appetite. The Canara HSBC Smart Lifelong Plan delivers the twin benefits and lifelong protection, as the name suggests. The Canara HSBC Smart Lifelong Plan Policy is a Unit Linked Life Insurance product laced with flexibility in every step.
The policy is perfectly suited to achieve life goals and finance milestones while creating wealth in the long run. The best part is that the policy navigates the insured in the right direction and the right choice to create a healthy corpus.
Parameters | Description |
Policy Tenure | Up to 99 years of age |
Premium Paying Term | Minimum: 10 years Maximum: 99 years minus the entry age |
Premium Paying Mode | Yearly or Monthly |
Entry Age | Minimum: 7 years Maximum: 65 years |
Maturity Age | 99 years |
Grace Period |
|
Sum Assured | The amount is determined in two bands for below 45 years at entry, age, and over 45 years, based on entry age, annualized premium & policy term. |
Liquidity | The policy does not offer any loan facility. |
The prerequisite for the benefit disbursal is that the Canara HSBC Smart Lifelong Plan Policy status should be active.
*Tax benefit is subject to changes in tax laws
The Canara HSBC Smart Lifelong Plan premium frequency is either annual or monthly. Those who opt for the Monthly frequency must remember that the initial three premiums are collected in advance. The indicative sample premium in the policy is:
Minimum:
Maximum: No limit
*Standard T&C Apply
The Canara HSBC Smart Lifelong Plan Reviews offer a great scope to update knowledge about the plan's features and their significance. It is found that the policy does not offer any additional riders.
Entry Age:
Maturity Age: 99 years
The bare minimum copies of Official Valid Documents to buy Canara HSBC Smart Lifelong Plan are listed below. However, it must be remembered that the insurer can call for any additional document if needed.
The online Canara HSBC Smart Lifelong Plan is not among the policies offered for purchase at the insurer portal. The applicant can request for meeting with an advisor to help arrive at an informed decision. The Canara HSBC Smart Lifelong Plan calculator also helps the applicant to visualize the policy contours matching financial status. Under the circumstances, the applicant must buy the plan at the nearest insurer's brick and mortar office. The points to be kept in mind specifically are the boundary conditions in the policy.
The Suicide Exclusion is applied in the case of suicidal death within the first twelve months of the policy's inception, or from the revival date. The insurer's nominee is entitled to the Fund Value available on the intimation of the death date. The applicable charges are recovered, and the policy is terminated.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. 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. 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