Canara HSBC Term Insurance Plans

The business strategy followed by them testifies their understanding of the market especially when it comes to looking for a bank partner or scaling up their bancassurance channels.

Canara HSBC Term Plans

Canara HSBC currently offers only one type of Term Insurance Plan called the eSmart Term Plan. The plan offers various features and benefits to the policyholder at very cheap rates. Let us take a detailed look at the plan

eSmart Term Plan

A traditional term insurance plan which can be bought online. The features and benefits of the plan are as follows:

• The plan can be bought online which reduces unnecessary hassles and comes cheap
• Premiums under the plan are supposed to be paid for the entire tenure of the plan under the Regular pay Option of premium payment.
• There are two death benefit options to choose from namely Option A and Option B.
• Under Option A, in case of death of the insured during the tenure of the plan, the Sum Assured is paid to the nominee
• Under Option B, in case of death of the insured during the tenure of the plan, the Sum Assured and an additional Accidental Death Benefit is paid to the nominee. The Accidental Death Benefit will be equal to the basic Sum Assured under the plan subject to a maximum of Rs.1 crore.
• The company assigns the services of a personal claims manager to help the family during the claim settlement process.
• The amount of premiums paid up to a limit of Rs.1.5 lakhs and claims received up to any amount enjoy tax exemption as mentioned in the tax laws.

Eligibility Details                                                                    

Applying For Term Insurance through PolicyBazaar

• On the PolicyBazaar homepage, click on Term Insurance under the Personal tab.
• Click New Quotes to compare term plan
• Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
• Fill in your name, email address, city, country code, and mobile number. Click Continue.
• You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
• After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
• You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.