Canara HSBC Life Insurance SecureInvest Plan

Eligibility Criteria for the Canara HSBC Life Insurance SecureInvest Plan

Below are the key eligibility parameters of one of India’s best investment plans:

Minimum annualized premium for Limited and Regular Pay starts at Rs. 50,000, subject to premium bands. The maximum premium is subject to underwriting norms.

Features of the Canara HSBC Life Insurance SecureInvest Plan

Here are the key features of this Canara HSBC Life Insurance SecureInvest Plan:

• Life covers up to 100 times the Annualised Premium (based on age and policy term).
• 13 Unit Linked Funds across equity, balanced, debt, and index strategies.
• Portfolio management options such as Systematic Transfer Option (STO), Return Protector Option (RPO), Auto Fund Rebalancing (AFR), Loss Protector Strategy (LPS), and Safety Switch Option (SSO).
• Loyalty Additions starting from the end of the 10th policy year and every 5th year thereafter.
• Maturity Boosters are added at the end of the policy term.
• 2X return of Premium Allocation Charges added at maturity.
• 2X return of Mortality Charges starting from the 15th policy year.

Benefits of the Canara HSBC Life Insurance SecureInvest Plan

Below are the primary benefits you receive:

1. Maturity Benefit

   For an in-force policy, you receive the Fund Value as of the maturity date, and the policy terminates.

2. Death Benefit

   In case of the death of the life assured, the death benefit paid is the highest of the following:

   • Sum Assured, less recent partial withdrawals;
   • Fund Value;
   • 105% of premiums paid.
   

3. Partial Withdrawal

   Available after completion of the 5-year lock-in period, subject to policy terms.

4. Settlement Option

   Available under both plan options, allowing Fund Value payout over a chosen period after maturity.

5. Tax Benefits

   Premiums paid and benefits received may be eligible for tax benefits as per prevailing income tax laws.

Riders Under the Canara HSBC Life Insurance SecureInvest Plan

You may enhance protection with:

• Canara HSBC Life Insurance Accidental Benefit Rider (Linked) with the Accidental Death Benefit, the Accidental Total and Permanent Disability Benefit, & the Optional Return of Premium feature.
• Canara HSBC Life Insurance Linked Critical Illness Benefit Rider

Rider benefits are subject to rider-specific terms and conditions.

Policy Details of the Canara HSBC SecureInvest Life Insurance Plan

Here are the policy details of the Canara HSBC Life Insurance SecureInvest Plan:

1. Grace Period

   • 30 days for annual, half-yearly, and quarterly modes
   • 15 days for the monthly mode (Not applicable for Single Pay)

2. Revival

   Non-Single Pay policies can be revived within 3 consecutive complete years from the date of the first unpaid premium.

3. Free Look Period

   30 days from the date of receipt of the policy document.

4. Surrender

   • During the first 5 years: Fund Value transferred to Discontinued Policy Fund after applicable charges.
   • After 5 years: Fund Value payable immediately.
   

5. Fund Switching

   Switching between available funds is permitted as per policy terms.

Exclusions Under the Canara HSBC Life Insurance SecureInvest Plan

1. Exclusion of suicide

   If someone kills himself within 12 months of the start or renewal of the risk, the Fund Value as of the date of death will be paid.

2. Total Permanent Disability (TPD)

   According to the rules of the rider, the Accidental Benefit Rider does not cover TPD-related exclusions.