Canara HSBC Smart Lifelong Plan

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.

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  • Save Upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

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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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. 

Canara HSBC Smart Lifelong Plan Details:

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 
  • 15 days for monthly mode of payment
  • 30 days for other modes of payment 
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.

Benefits of Canara HSBC Smart Lifelong Plan

The prerequisite for the benefit disbursal is that the Canara HSBC Smart Lifelong Plan Policy status should be active. 

  • Death Benefit: Upon the insured's death within the policy term, the nominee will receive the death sum asured or the fund value as on the intimation date. 
  • Maturity Benefit: On survival till the attainment of 99 years of age, the insured will receive the fund value, and the policy will terminate. 
  • Loyalty Addition: It is paid in the form of an extra allocation of units to the fund. It is guaranteed once added to the fund value. 
  • Investment Fund Options: The insured is free to choose from among the available seven options to satisfy investment needs. As per the insured's risk preference, the premium can be allocated to all, any, or a combination of instruments. 
  • Tax Benefit: According to the prevailing tax laws under the Income Tax Act, 1961, the premium paid and benefit received are entitled to the tax deduction. 

*Tax benefit is subject to changes in tax laws

The Premium for Canara HSBC Smart Lifelong Plan

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:

  • Monthly Premium: Rs.3,000 every month
  • Annual Premium : Rs.25,000 p.a.

Maximum: No limit

*Standard T&C Apply

Additional Riders for Canara HSBC Smart Lifelong Plan

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. 

Eligibility for Canara HSBC Smart Lifelong Plan

Entry Age:

  • Minimum: 7 years
  • Maximum: 65 years

Maturity Age: 99 years

What are the Documents Required to Buy this Policy?

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. 

  • Identity Proof
  • Address Proof
  • Income Proof
  • Bank Account Details
  • Recent Photograph

How to Buy this Plan Online?

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.

Exclusions of Canara HSBC Smart Lifelong Plan 

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. 

FAQ's

*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

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