Canara HSBC Term Insurance Calculator

As one of the leading insurance provider in our country, Canara HSBC offers different types of term insurance plan to cater to the various requirements of the insurance buyers. The customers can make use of Canara HSBC Term Insurance Calculator to determine the premium rate of the policy and choose the best plan as per their requirement and suitability.  Let’s read further to know in detail about Canara HSBC Term Insurance Calculator.

Why Should You Use A Term Insurance Premium Calculator?

There are various types of plans floating around in the market, each catering to a different need. It becomes overwhelming for a customer to reach out to every plan and study it. To tackle this issue, insurers have come up with a solution of term insurance premium calculators.

Term insurance premium calculator is an online tool that is available on the insurer's online platform. With the help of this, customers can overcome the hassle of comparing various plans individually. Now they can know the premium rates of several plans within a few minutes and purchase the suitable plan for them. 

Reasons to Use Term Insurance Premium Calculator 

With hectic schedules, it isn't easy to take out time to sit and compare various term plans. Term insurance calculator will let customers save much precious time by allowing them to compare and analyze numerous plans on one platform.

The term insurance calculator is free to use online tools, so customers do not need to worry about paying an upfront charge to access it.

It is designed in such a way that everyone can use it easily without diving into technicalities and jargon.

Customers can choose the insurance plan by comparing various products and premium rates.

Using the term insurance calculator, customers will have accurate information on hand, which will help them select the most appropriate plan for them.

Why buy Term Insurance early?

Your premium is decided on age at which you buy the policy and remains same, throughout your life

Premiums can increase between 4-8% each year after your Birthday

Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease

See how age affects Term Insurance Premiums
See how age affects Term Insurance Premiums
Premium 479/month
Age 25
Age 50

The Process to use Canara HSBC Insurance Calculator

The customers who wish to calculate the premium on term insurance can do it at their home by simply visiting the insurer's official website. All they need to do is to fill in the required information asked by the insurer in the Canara HSBC term insurance calculator. Once they do it, all necessary information related to plan will appear on their screen.

Here are the steps to be followed:

Enter all the necessary information

The insurer will ask the customer to enter information like full name, gender, date of birth, the state where they are currently living. Customers need to enter all this information with complete accuracy. 

Additional Information

Once the basic information is filled in, the insurer will ask the customer to fill in the additional information. This includes the payment frequency according to the product selected, life coverage of the investment plan, plan option, and details related to the customer's lifestyle.

Final step

 Finally, all customers need to enter the captcha code, and the final result will appear on the screen. Now customers can select the plan that suits their needs and budget. If the customer is not satisfied with the result, they can change the sum assured and look for other term plans. 

Advantages of Canara HSBC Term Insurance Calculator

Here are some of the advantages of using Canara HSBC Term Insurance Calculator.

Comparison of Various Plans

Customers can compare several term plans based on the criteria such as premium amount, duration of the term plan, and the cover they will receive. All this information is very crucial to make the right decision before buying a term plan.

Makes everything clear

Canara HSBC term insurance calculator will show customers the exact premium amount they need to pay. This will remove all the doubts from the customer's mind regarding the premium amount and avoid any misunderstanding.

Helps in Financial Planning

With all the necessary information on hand, customers can plan their finances in advance. This will be a great advantage for any customer because every customer has their own needs and preferences. This will help customers to choose the term plan which is most appropriate for them.

Saves a lot of time

Using the term insurance calculator, customers can save their precious time by avoiding the struggle of searching and analysing term plans individually from several sources. Customers can get all the required data in one place.

Easy To Operate

It is very easy to use the term insurance calculator. Customers can visit the insurer's official website and enter all the required information, and within a few moments, they can access all necessary details.

Information Required While Using Canara HSBC Term Insurance Calculator  

The following are the information that should be kept handy while using Canara HSBC Term Insurance Calculator.

Personal details like name of the customer, gender, date of birth, and the place they are currently living.

After entering the personal details, customers need to provide some extra information that includes the premium payment duration, sum assured, and information regarding the customer's health and lifestyle.

Benefits of Buying Canara HSBC Term Insurance Plan 

Term life insurance plans provides financial protection to the family of the insured in case of any eventuality. Here are some benefits of buying a Canara HSBC life term insurance plan.

Various Payment Options

Canara HSBC allows customers to choose from various options to receive the benefits of the term plan. The options available for the customers are, they can receive the lump sum amount, monthly installments, and part lump sum and part monthly installments.

Two Kinds of Coverage

During the term of the insurance, the plan insurer offers two coverage options to choose from i.e. increasing cover and level cover.

Online Facility

Now customers do not need to physically visit the insurer branch or run after their agents to buy a term insurance plan. Customers can simply go to the insurer's official website, select the suitable plan, and buy it from there. They can also customize their plans as per their desire.

Option to Increase the Life Cover

If customers wish to increase their life cover because of changes in their protection needs, they can easily do so by adding to the cover at various stages of life.

Additional benefits 

Other than the sum assured in the term plan, the customers can avail the add-on benefit as rider to enhance the coverage of the policy.

Factors Affecting the Premium Rate of the Canara HSBC Term Insurance Policy

There are various factors that determine the premium rate of the policy. These factors are:

  • Age: If policyholders are young, they have a low risk of death hence low premium rates for them, and as the age increases, so the premium rates.
  • Gender: There is scientific proof that women have a longer life expectancy than men, and due to this, the insurer allows women lower premium rates compared to men because of less risk involved.
  • Occupation: Every profession has its own risk. A person working in a firefighting department is exposed to more risk than a teacher. Keeping this in mind, the premium rates vary for each profession.
  • Duration of the policy: The time period of the policy is one of the main factors that affect the premium rates. The longer the time period of the policy means the insurer has to bear more risk.
  • Medical History of the policyholder: If a policy holder in the past has suffered from some chronic disease, there are chances that this disease can come back in the future. By considering this fact, the premium rates can be higher for some kind of disease.
  • Smoking and Drinking: Suppose a policyholder has the habit of smoking or drinking or both, then the risk of lung and liver diseases increases. So, to cover that, the policyholder has to pay higher premium rates.
  • The Health of the policyholder: The insurer checks the health status of the policyholders before presenting the premium rates to them. This is done to check the fitness level of the p Diabetes patients are more vulnerable to heart and kidney diseases. So, the premium rates are relatively higher for them.

FAQs

  • Q. Do I need to show income-related documents to the insurer?

    Customers need to show documents like the last three months salary slip, Form 16, Bank statement from the last six months, and the latest income tax returns. After analysing all these details, the insurer will decide the premium rates for the customer.

  • Q. Can a customer buy more than one term plan?

    Yes, customers can buy more than one term plan according to their needs and requirements. One term plan may not be enough for some customers to cover their life goals in such scenarios; they can go for multiple plans.

  • Q. What are Life Insurance Riders?

    Riders can be defined as the additional benefits attached to the term plan to increase the insurance coverage of the policy. Some examples of riders are Premium Waiver rider, Accidental death insurance rider, Critical illness rider, Accidental Permanent and Partial Disability rider.

  • Q. What are the different options available to pay premiums?

    To make term plans more flexible for customers, the insurer provides certain types of options to the customer to pay their premium amount. The options available are:

    • Regular Payment method: customers can choose to pay on a monthly, quarterly, half-yearly, and annual basis.
    • Lump Sum payment method: if customers want, they can pay their premium in a single payment.
    • Limited payment method: Customers can choose a specific time period like 5, 10, 20 years depending upon the term plan to pay their premium.
  • Q. What is the appropriate age to buy term insurance?

    It is advised to buy term insurance plans as soon as possible because one needs to pay lower premium when one is young.

  • Q. What is the Process for claim settlement of term plan?

    There are three steps involved in the claim settlement in case of the demise of the Policyholder.

    Step 1: Nominee has to inform the insurer about the Policyholder's death as soon as they can.

    Step 2: Insurer will ask for documents like a death certificate, policy document, a statement from the doctor, etc.

    Step 3: According to the rules of IRDA, the insurer needs to settle the claim within 30 days after receiving all the documents. If insurers want a further investigation, they can do it, but they have to settle the claim within six months. 

    Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. 

    *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

Written By: PolicyBazaar
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 29 Reviews)
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Canara HSBC Term Insurance Calculator Reviews & Ratings

4.4 / 5 (Based on 29 Reviews)
(Showing Newest 25 reviews)
Bhawna
Rohtak, April 07, 2021
For long term basis
I took this term insurance plan online and have been a great customer of canara hsbc and policybazaar. It’s been a wonderful plan for a long term basis. All thanks to both the team for giving such support.
Atul
Nawabganj, April 05, 2021
View best quotes
Recently I bought this term plan from the canara hsbc term insurance company and I viewed various quotes related to the same. I have check the quotes and have used the premium calculator for my plan. I really liked it. Thanks team policybazaar.
Dileep
Barpali, March 30, 2021
For long term basis
I took this term insurance plan online and have been a great customer of canara hsbc and policybazaar. It’s been a wonderful plan for a long term basis. All thanks to both the team for giving such support.
Shakib
Lowada, March 23, 2021
View best quotes
Recently I bought this term plan from the canara hsbc term insurance company and I viewed various quotes related to the same. I have check the quotes and have used the premium calculator for my plan. I really liked it. Thanks team policybazaar.
Girish
Atmakur, February 16, 2021
High coverage low premium
Last year I bought a canara hsbc term insurance plan. It was done from policybazaar. I bought it as high coverage and at low premium rates. Such a good plan. Thanks team.
Ritika
B.khajuripada, February 16, 2021
Get to know free quotes
I recently bought a term insurance plan of canara hsbc and it is a nice plan. I got this plan done from policybazaar. Before buying a plan I checked few free term insurance quotes. That’s easy to select. Thanks team.
Ritika
Laxmipur, July 18, 2016
Excellent Work
The term insurance plan of canara hsbc obc life insurance is fantastic and it came in low premiums and even investment is also less. Policy coverage and claims are good. Claiming process is easy because of fast service provided by the executives is awesome.
Ankit
Patherdewa, July 07, 2016
Term plan
My colleague suggested me a term insurance plan and it really did work for me. The service is fantastic which facilitate by the staff and team members. Policy coverage is good and claims are simple to sanctioned by online portal service or by manually.
Gunjan
Ghaziabad, June 28, 2016
Great Insurance Plan
I have term insurance plan which I buy in low premium. The service provided by the company members is quick and the claiming is easy due to this. Policy covers many cases which has fair terms and conditions. The internet service is very simple to operate.
Naveen
Mumbai, April 11, 2016
Wonderful
Policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 89%. Claims are are good and the payback amount is around Rs.37 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Daily update are mailed to me, I like it.
Varun
Anoopsahar, April 11, 2016
Manageable
The term policy plan i have is not as i expected. The policy coverage is 63% and the claims are less. The premiums are 17 K twice a year. Services are fast and the behaviour of the executives and staff members are good. Some improvement needed in the web site. Manageable policy plan.
Bhupesh
Faridabad, April 11, 2016
High Returns In Low Premium
My term insurance policy plan is with canara hsbc life insurance. The policy coverage is high and the claims are high too. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy plan which provides good terms and conditions. I like it.
Tanmay
Udaipur, April 11, 2016
Full Of Benefits
I purchase canara hsbc life insurance term policy plan. The policy plan is an average one but the premiums are low with good policy coverage. This is an online policy plan, easy to buy. The plan has 5% less on premiums for women. Premiums and claims are free from taxes.
Prashant
Rohtak, April 11, 2016
Good Plan
I have term insurance policy plan from canara hsbc life insurance. Policy coverage is good and the premiums are low approx. 27 K. Claiming is easy and the waiting time is very less due to fast and on time services from executives and the staff members. Nice work.
Farhan
Nilagiri, April 11, 2016
Not Satisfactory
My policy is not good because the service is slow, the policy coverage is less, Claims are not good, premiums are high, not provided help when needed by the staff members not in the company or either on the call. Not satisfied with this policy.
Rohit
Nainital, April 11, 2016
Superb
Got term insurance policy plan with canara hsbc life insurance. The policy plan is above average and the premiums are low. Policy coverage and the claims are high with high payback returns. Services provided by you guys is appreciable with good behaviour of your staff members and the extra good treatment provided by the executives is very nice.
Sumeet
Lonavla, April 11, 2016
High Returns
The term insurance policy plan i have is canara hsbc life insurance. The policy coverage is high with high claiming amount. The premiums are low and the payback returns are approx. rs.40 L. The service provided by the executives and the staff members is good with nice behaviour.
Gautam
Chaksu, April 11, 2016
Nice Future Plan
Great term insurance policy plan i got from canara hsbc life insurance. They has good speed and responsive for any query and for any help. Policy coverage is 91% and the claims are good with easy claiming process. The investment is good and it saves taxes also.
Lokesh
Hyderabad, April 11, 2016
Above Average
I have term insurance policy plan from last two years with canara hsbc life insurance. The policy is good and the premiums are very less. The best investment and the taxes are also saved. Policy coverage and claims are good and the services are fantastically fast. I really like my policy plan thanks.
Rupesh
Jalpaiguri, April 11, 2016
Good Investment
Canara hsbc life insurance is one of the best insurer for term insurance policy plan. The policy coverage is 93% and the claims are good even the the claiming procedure is easy because the service provided by the company members are good and even the web services are even better. The premiums are low and for women get 5% less extra benefits on premiums.
Devesh
Mohali, April 11, 2016
Average Policy
Policy coverage is less around 69% and the premiums are low around 18 K twice a year. Service are good and always on time till now, rest see in future. The claims are cleared easily due to quick response from the executives and staff members. Please improve your policy coverage for better performance.
Abhishek
Jaipur, April 11, 2016
slow service
The term plan policy which i bought from canara hsbc life insurance has slow service issue. Policy coverage and claims are high with low investments. The executives and staff members are behave good with the customers and providing nice outputs. The daily updates are mailed and texted to me regularly. Good policy plan.
Ishant
Agra, April 11, 2016
Fine Policy
I buy term insurance policy plan from canara hsbc life insurance. The policy coverage is 83% and the premiums are low ~29.1 K. The claims are easily sanctioned because the service is fast from the executives side and from online web page also. The policy premiums are 5% less for women. Good policy plan.
Harish
Gopalgaon, April 09, 2016
Normal Policy Plan
The term policy plan i have is not as i expected. The policy coverage is 57% and the claims are less. The premiums are 13 K twice a year. Services are fast and the behaviour of the executives and staff members are good. Some improvement needed in the web site.
Kunal
Raj_nagar, April 09, 2016
Okay Plan
The term policy plan i have from canara hsbc life insurance. The service is fast and on time provided by the executives and the staff members when ever needed. Policy coverage is 84% and the claims are good. Premiums are low and payed twice in a year. The policy is for 15 years.
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