Canara HSBC Life Insurance Review

“I spent a long time looking for a simple and dependable life insurance plan from a trusted insurer. I wanted something that could support my family if I were not around. After going through several options, I chose the Young Term Plan from Canara HSBC Life Insurance. It was easy to purchase, especially because the support team helped me at every step. I now feel more assured about my family’s financial safety.” – Anil

51 Partners Insurance Partners

12.02 Crore Registered Consumer

5.9 Crore Policies Sold

We are rated ++ rating

₹1 Crore Life cover starting from ⁺

Lowest Price Guarantee ^˜

Male

Female

Name

Date of Birth

Mobile Number

Check Your Premium Now

Get Updates on WhatsApp

About Canara HSBC Life Insurance

Canara HSBC Life Insurance offers plans that match different life stages, starting a career, planning for children, or preparing for retirement. Their insurance plans are practical and avoid unnecessary complexity, which appeals to individuals who prefer simple coverage.

Anil chose the Young Term Plan to secure long-term protection for his family. His reason to trust the plan as well as the insurer was simply a dependable life cover at a cost he could manage. Here are the main points about the insurer and why he picked them:

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

Key Features of Canara HSBC Life Insurance

Diverse Products: Canara HSBC Life Insurance offers a wide range of insurance plans. These plans include term insurance, savings plans, ULIPs, child plans, and retirement plans. Customers have a wide range to choose an insurance plan for their needs.
Backed by Trusted Partners: Canara HSBC operates under the backing of Canara Bank, HSBC, and PNB. These entities build trust for native people and with a global insurance experience.
Easily accessible through Banks: The plans sold by Canara HSBC can be accessed easily through a strong bancassurance network. It allows customers to buy policies directly from familiar bank branches.
Flexibility: Most products offered by Canara HSBC have various flexible features. It's either the premium payment mode, the premium payment frequency, or the option to increase coverage over time.

Advantages of the Canara HSBC Life Insurance Policy

Reliable financial protection:

Insurance policies by Canara HSBC Life Insurance offer a strong safety net for your family. It is a trustworthy option for policyholders and new customers.
Flexible and affordable premiums:

With the long commitment of life insurance policies, the insurer provides flexible and affordable premiums. These affordable and flexible premiums fit your budget so you can stay protected without financial strain.
High Claim Settlement Ratio:

The Claim Settlement Ratio (CSR) OF Canara HSBC Life Insurance on the higher range of 99.34% for individual death claims. This is one of the most trustworthy metric of the insurer that shows it always settles its claims seamlessly and provides the support that the policyholders need.
Additional coverage through riders:

Along with the protection of the policies, you can enhance your protection for specific reasons. The insurer offers various additional riders such as critical illness or accidental coverage, that offer financial help additional to the sum assured.
Tax advantages:

Premiums paid and benefits received may help you save on taxes as per applicable tax laws, making the policy financially smarter.

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

Compare 40+ plans from 15 Insurers

⁺Standard T&C Applied

Why Should You Choose Canara HSBC?

15,700+ Partner Branches: Canara HSBC Life Insurance operates with Canara Bank, HSBC India, other alternate channels. With such a widespread network, the customers always have access to the insurer’s facilities.
Claim Settlement Ratio of 99.43%: The insurer settled almost all the individual death claims for FY 2024 - 2025. It is one of the highest CSRs by an insurer.
200.42% Solvency Ratio: Canara HSBC maintains a solvency ratio of 200% which is exceeds the mandatory limit set by IRDAI. With such a benchmark, safety and security of the policies.

How to Buy Canara HSBC Plans from Policybazaar

If you wish to chose for an easier method you can purchase Canara HSBC Life Insurance plans from Policybazaar. Here are the steps to purchase the Canara HSBC Young Term Plan- Life Secure from Policybazaar:

Step 1: Visit Canara HSBC Young Term Plan on Policybazaar.

Step 2: Fill up the form on the top right corner with your gender, name, DOB and mobile number. Click on ‘Check your premium’.

Step 3: Go to Young Term Plan and click on the premium amount.

Step 4: Verify all the details and pay the premium to purchase the policy.

Should You Get a Canara HSBC Life Insurance Policy? The Final Verdict!

If you relate to Anil:

Young
Looking for an affordable premium
Want a high claim settlement rate (CSR)
Want coverage that can change
Want features that will work in the future

Then the Canara HSBC Young Term Plan is one of the best choices for 2025. Just like Anil, you can get dependable financial protection with flexible plans. Choosing Canara HSBC Life Insurance is also good for customers as they have clear policy guidelines that do not overwhelm them and gives people like Anil peace of mind and confidence that they can protect their family's future.

People also search for

What is Term Life Insurance

FAQs

Q: How many claims does Canara HSBC Life Insurance take care of?

A: Canara HSBC Life Insurance has a claim settlement ratio of 99.43% for the fiscal year 2024–25. This proves that Canara HSBC is doing well, which is why people trust it as a safe place to get life insurance through HSBC.
Q: Do Canara HSBC Life Insurance policies help me pay less in taxes?

A: Yes. Many Canara HSBC Life Insurance plans, like the popular Canara HSBC term insurance and HSBC term life insurance plans, let you pay less in taxes under Sections 80C and 10(10D). These benefits are available for all types of savings, insurance, and retirement plans.
Q: How many claims does Canara HSBC Life Insurance settle?

A: Canara HSBC Life's CSR for the fiscal year 2024–25 is 99.43%.
Q: What is the rank of Canara HSBC Life Insurance?

A: As of FY2025, Canara HSBC Life Insurance is the third largest PSU bank-insurer in terms of lives covered. It has a high financial rating of "CARE AAA (In)," which means it can pay claims well. It also has a high Claim Settlement Ratio of 99.43% for the fiscal year 2023–24.
Q: Is it worth it to get life insurance from HSBC?

A: Yes, HSBC has over 500 branches in the UK, and its life insurance gets a three-star Defaqto rating. It settles 99.4% of the claims made.

Different types of Plans

Term Insurance

View Plans

Life Insurance

View Plans

List of Term Insurance Companies

View Plans

TROP

View Plans

Term Insurance For Senior Citizen

View Plans

Term Insurance For Spouse

View Plans

Term Insurance For Family

View Plans

Term Insurance For NRI

View Plans

List of Term Insurance Plan

View Plans

Life Insurance Corporation of India

View Plans

What is Term Insurance?

View Plans

Term Insurance Calculator

View Plans

1 Crore Term Insurance

View Plans

2 Crore Term Insurance

View Plans

Explore the popular searches and stay informed

˜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.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.