Canara HSBC Smart Monthly Income Plan is designed to provide coverage for 25 years and guaranteed monthly income for 15 years. The sum assured is eligible to gain guaranteed income and bonuses. Loan flexibility is available to cover urgent contingencies. Premium payment can be adjusted so that income is received in years 11 to 15. *Read more
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Buy Canara HSBC Smart Monthly Income Plan to accumulate a lump sum of money by adding annual and final bonuses that create a pool of money. The money can be used for children's education, children's marriage, retired life planning, home purchase etc. Guaranteed monthly income is tax-free.
*Terms and Conditions apply
|Policy Tenure||25 years|
|Premium Paying Term||15 years|
|Premium Paying Mode||Canara HSBC Smart Monthly Income Plan can be on an annual or monthly basis. A monthly mode is available with the ECS/SI option. Premium mode can be changed. To arrive at the monthly premium payable, 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||Minimum age at maturity is 43 years. 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's annual bonus (simple reversionary bonus) is added to the policy, provided Canara HSBC Smart Monthly Income Plan 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 a death benefit.|
Online Canara HSBC Smart Monthly Income Plan has the following benefits:
* Tax benefit is subject to changes in tax laws
The online Canara HSBC Smart Monthly Income Plan has ten years premium payment term. *
The minimum monthly income should be Rs. 2000 per month to avail of premium paying status. Premium depends on factors such as monthly income, entry age, and premium mode chosen. Use the Canara HSBC Smart Monthly Income Plan calculator to compute the premium.
*Standard T&C Apply
There are no additional riders available in the policy. For further knowledge the individual may visit the insurance company’s website or contact with the customer helpline available for the plan online.
The minimum age at entry for the Canara HSBC Smart Monthly Income Plan policy is 18 years and the maximum age for entry is 55 years. Min and Max age at maturity is 43 and 80 years.
To buy Canara HSBC Smart Monthly Income Plan, the following documents are required:
The candidate can buy Canara HSBC Smart Monthly Income Plan by:
The suicide exclusion of Canara HSBC Smart Monthly Income Plan states that the policy shall provide coverage for expenses incurred due to an attempted suicide if the scenario occurs within 12 months of policy commencing.
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