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Canara HSBC iSelect+ Term Plan
Canara HSBC iSelect+ Term Plan is a non-linked, individual term plan that protects the insured from various unforeseen events in life. This plan is flexible and provides options like Coverage for Whole Life, and Spouse Coverage, which can be availed jointly under a single policy. Moreover, it also provides a total return of paid Canara HSBC iSelect+ Term Plan premium. Available in three options, Life, Life Plus, and Life with Return of Premium, it is a perfect term plan to cover the unfortunate events that may arise in one's life.
51 Partners Insurance Partners
12.02 Crore Registered Consumer
5.9 Crore Policies Sold
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₹1 Crore Life cover starting from +
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- Canara HSBC iSelect+ Term Plan
There are also various in-built covers available to enhance protection.
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Parameters |
Details |
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Policy Tenure |
MINIMUM: Life Plan Option: 5 years (10 years for Decreasing Cover option) Others: 10 years MAXIMUM: Life Plan Option: 62 years (99 years minus entry age for Whole Life Coverage) For Decreasing Cover Option, age is subject to the cover decrease period, at least 5 years Others: 30 years |
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Premium Paying Term |
Life: Single-Premium (NA for Whole Life Coverage) Limited Pay: 5/10/15/20/25/Up to Age of 60 years-as per plan option Regular Pay: Equals policy term Life with Return of Premium: Limited Pay: 10/15/20/25/Up to 65 years of age, as per plan option Regular Pay: Equals policy term Life Plus: Limited Pay:10/15/20/25/Up to 60 years of age, as per plan option Regular Pay: Equals policy term |
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Premium Paying Mode |
Yearly/ Half-yearly/ Quarterly/ Monthly |
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Entry Age |
For all plan options, Min Age: 18 years Max Age: 65 years; depends upon plan option Spouse (Non-working ): 50 years Decreasing Cover: 55 years PPT up to 60 years of age (Life Plan Option): 55 years PPT up to 60 years of age (Other plans): 50 years Single-Premium Plan: 45 years |
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Maturity Age |
For all plan options: Min Age is 28 years Max Age: 80 years Life Option- Whole Life Cover: 99 years Plans with ATPD/ ADB cover: 75 years |
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Grace Period |
30 days; 15 days (Monthly) |
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Sum Assured |
Minimum: Plan Option Life: Rs. 25,00,000 (exception: Decreasing Coverage option- Rs. 50,00,000) Optional In-built Covers- Rs. 25,00,000 Other Plans: Rs. 15,00,000 Maximum: As per underwriting guidelines; ADB Cover– Rs. 3,00,00,000 ATPD PPP – Rs. 1,00,00,000 For non-Working Spouse cover – Rs. 25,00,000
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Liquidity |
No loan benefit available |
Benefits of Canara HSBC iSelect+ Term Plan
The core benefits of Canara HSBC iSelect+ term insurance plan are as follows:
Maturity Benefit:
- Life: No maturity benefit is available
- Life Plus: Under this option, the policyholder will be paid back the total premiums on the date of maturity. Plus, the plan will still be continued till the insured person attains the age of 99 years
- Life with Return of Premium: Under this Canara HSBC iSelect+ Term Plan policy option, the insurer will return the total premiums paid by the policyholder, if he/she outlives the plan tenure, and plan terminates
Death Benefit:
- For Life Option- The insured will be paid the Death Sum Assured, either on death or on terminal illness diagnosis, whichever is earlier, and the Canara HSBC iSelect+ Term Plan policy terminates
- In Life Plus - The Death Sum Assured is payable on insured's death or diagnosis of a terminal illness (whichever happens first). If the policyholder survives, the insurer pays back the Total Premiums Paid at maturity, and the Canara HSBC iSelect+ Term Plan will be continued till the attainment of 99 years of age
- For Life Option with Return of Premium (ROP) - In case of death or terminal illness diagnosis, whichever is earlier, Sum Assured on Death is paid. If the policyholder survives, the insurer pays back the Total Premiums Paid at maturity, and the Policy terminates
Surrender Benefit:
- Life Option: In the case of Single Pay, the surrender benefit is available from the first year of the Policy. For Limited Pay, the benefit is available after the payment of all due Canara HSBC iSelect+ Term Plan premium; and for Regular Pay, surrender benefit is not applicable
- Life Option with ROP & Life Plus Options- Surrender value is calculated as per the policy document
All benefits are payable if Canara HSBC iSelect+ Term Plan policy status is active.
Tax Benefit:
Policyholder can avail of tax benefits under this plan as per the Income Tax Act, 1961.
* Tax benefit is subject to change in tax laws
The Premium for Canara HSBC iSelect+ Term Plan
Under this plan, there are three options, namely- Life, Life with Return of Premium, and Life Plus. Premiums can be paid in four ways, yearly, half-yearly, quarterly, and monthly. Moreover, the premium is divided into terms as per the available options that are, Single Pay, Limited Pay, and Regular Pay. You can calculate the required premiums by using Canara HSBC iSelect+ Term Plan calculator.
Additional Riders for Canara HSBC iSelect+ Term Plan
There are four optional additional benefits available under this Policy for the Life Option. They are in-built covers:
- Accidental Death Benefit (ADB)
- Accidental Total and Permanent Disability (ATPD) - Premium Protection
- Child Support Benefit (CSB)
- Accidental Total and Permanent Disability (ATPD)-Premium Protection Plus
Eligibility for Canara HSBC iSelect+ Term Plan
- Entry Age is from 18 to 65 years.
- Maturity Age is from 28 to 99 years, based on the plan variant.
Age criteria for different plan variants are different as per the table mentioned above.
What are the documents required to buy this Policy?
The documents that need to be furnished at the time of purchase of online Canara HSBC iSelect+ Term Plan, are Photo Identity proofs, Age proof, residential proof, like PAN, AADHAAR card, Voter Id or Passport, etc.
Exclusions of Canara HSBC iSelect+ Term Plan
Under Canara HSBC iSelect+ Term Plan, if the death of the policyholder occurs due to suicide within 12 months of the initiation of Policy, or the policy revival date, then the nominee shall be given 80% of the total paid premiums till death or the respective Surrender Value till death, whichever is higher.
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
FAQs
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Q: Are there any savings available under this plan?
Ans: Canara HSBC iSelect+ Term Plan offers various savings, such as Loyalty perks for existing company employees, premium savings for Female Lives and High Sum Assured, Spouse of Life Assured, etc. -
Q: On what factors does the premium depend?
Ans: The Canara HSBC iSelect+ Term Plan premium depends on the factors of plan option, policy tenure, the sum assured, PPT, mode of premium payment, and others, as mentioned by the insurer. -
Q: In which modes are the payouts given?
Ans: In Canara HSBC iSelect+ Term Plan, the payout is given in Lump Sum/Monthly Income/Part Lump Sum and Part Monthly Income. -
Q: What are the exceptions in Spouse Coverage?
Ans: Spouse Coverage is only available for the option of Life Plus. -
Q: What are the coverage options available under this plan?
Ans: Increasing Coverage Option and Decreasing Coverage Option is available in Canara HSBC iSelect+ Term Plan policy. -
Q: Where to buy the plan?
Ans: You can buy Canara HSBC iSelect+ Term Plan online on the insurer website or any partner website. -
Q: Can the Policy be revived?
Ans: Yes. The Policy can be revived within 5 years from the date of the last unpaid premium, as per conditions specified.
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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
Women
+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.
1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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