Canara HSBC Life Insurance iSelect Guaranteed Future Plan

Eligibility Criteria for the Canara HSBC Life Insurance iSelect Guaranteed Future Plan

The exact maturity age, premium limits, and income percentages depend on the selected option and age at entry.

Features of the Canara HSBC Life Insurance iSelect Guaranteed Future Plan

Here are the key features of the plan:

• Life Cover Throughout The Policy Term
• Guaranteed Sum Assured On Maturity (as applicable)
• Guaranteed Additions Accruing In The Last Five Policy Years (except Easy iAchieve)
• Guaranteed Income Option (available under iAssure and Flexi iAssure)
• High Premium Addition (if applicable)
• Payor Premium Protection Cover Option (available under iAchieve and iAssure variants)
• Limited Premium Payment Options

Guaranteed Additions accrue at the beginning of each of the last five policy years, provided all due premiums are paid, and the policy remains in force.

Benefits of the Canara HSBC Life Insurance iSelect Guaranteed Future Plan

Below are the benefits available under different scenarios for the Canara HSBC Investment Plan:

1. Death Benefit

   If the policy is still in effect, it applies to iAchieve, Flexi iAchieve, iAssure, and Flexi iAssure:

   • The higher of the Guaranteed Sum Assured or 105% of the Total Premiums Paid
   • Plus any Accrued Guaranteed Additions
   • Plus High Premium Addition (if there is one)

   For Easy iAchieve:

   Under Payor Premium Protection Cover (if chosen), future premiums are forgiven, and policy benefits continue.

2. Benefit at Maturity

   • For iAchieve and Flexi iAchieve: Guaranteed Sum Assured at Maturity, Plus Guaranteed Additions that Build Up Over Time, Plus a High Premium Addition
   • For iAssure and Flexi iAssure: Guaranteed Additions that have built up over time Plus a High Premium Addition
   • For Easy iAchieve: Guaranteed Sum Assured on Maturity Plus High Premium Addition

3. Survival Benefit

   Under iAssure and Flexi iAssure:

   • Guaranteed Income payable annually after completion of the Premium Payment Term.

   If you want predictable payouts to manage recurring expenses, this feature may support structured planning.

Riders Under The Canara HSBC Life Insurance iSelect Guaranteed Future Plan

Like many of the best Investment plans in India, this plan also does not offer traditional riders under this product. However, it provides an optional pay or premium protection cover, in which:

If the policyholder (where different from Life Assured) dies during the policy term:

• Future premiums are waived
• Policy continues with full benefits

This option must be selected at inception and cannot be altered later.

Policy Details of the Canara HSBC Life Insurance iSelect Guaranteed Future Plan

Have a look at the policy details of Canara HSBC Life Insurance iSelect Guaranteed Future Plan:

• Grace Period:
• 30 days for Annual, Half-Yearly, Quarterly modes
• 15 days for the Monthly mode

Policy remains in force during the grace period.

• Revival: A lapsed or paid-up policy can be revived within 5 years from the date of the first unpaid premium, subject to conditions.
• Free Look Period: You may cancel the policy within 30 days from receipt of the policy document.
• Surrender: The policy acquires Guaranteed Surrender Value after payment of at least two consecutive policy years’ premiums.

  Surrender Value payable is the higher of:

  • Guaranteed Surrender Value
  • Special Surrender Value
• Loan: Policy loan facility is available as per the policy terms.

Exclusions Under the Canara HSBC Life Insurance iSelect Guaranteed Future Plan

Suicide Exclusion

If death occurs due to suicide within the specified period from policy commencement or revival, benefits are payable as per policy conditions.

There are no additional waiting periods or lien periods mentioned under this product.