Canara 75 Lakh Term Insurance

This plan offers comprehensive protection at affordable premium rates. Let’s discuss the Canara 75 Lakh Term Insurance in detail here.

What is the Canara 75 Lakh Term Insurance Plan? 

Canara 75 Lakh Term Insurance Plan provides financial security to your family in the event of your sudden and unfortunate demise. Hence, a 75 Lakh term plan offered by Canara HSBC Life Insurance helps by providing a lump sum death benefit of Rs. 75 Lakh so that you can make sure your loved ones have a financially protected future.

Why Buy Term Insurance from Canara Life Insurance?

You should buy Term Insurance from Canara Life Insurance because of the following reasons:

What are the Benefits of Buying Canara 75 Lakh Term Insurance? 

Here are some of the key benefits of buying the Canara Term Insurance plan for 75 Lakh life cover:

• Budget-Friendly Coverage: The 75 Lakh term insurance plan by Canara Life Insurance is affordable, providing basic term plan benefits at lower premiums, starting at Rs. 674/month.

  *Note: Result for 18-year old male buying Canara 75 Lakh term plan for 20 year policy term.

• Added Protection: The Canara 75 Lakh term insurance plan includes additional benefits through term insurance riders, offering protection for risks like accidental death benefit, terminal illness benefit, and waiver of premium benefit. While the critical illness rider is no longer offered by the insurers for new policies, the individuals with existing policy will still remain covered under the Canara HSBC critical illness rider. However, it is important to note that the T&Cs regarding critical illness benefits are subject to change.

• Financial Support for Your Family: Provides ₹75 Lakh to cover loans, debts, and daily expenses if you pass away, ensuring financial stability for your loved ones.

• Easy Online Purchase: Buy term plan from Canara HSBC Life Insurance easily through Policybazaar, without needing to visit a branch.

• Flexible Payouts: Choose between lump sum or monthly payment modes for the death benefit to manage expenses as per requirement.

• Tax Benefits: Avail of tax advantages under sections 80C and 10(10D) of the Income Tax Act, 1961.

*Note: You can use the term insurance calculator for estimating your term insurance premium. You can also use the HLV Calculator to find out the most suitable life cover for your family’s security.

Canara 75 Lakh Term Insurance Plan – Canara HSBC Young Term Plan 

The Canara 75 Lakh Term Insurance that you can easily buy online from Policybazaar is Canara HSBC Young Term Plan. 

The Canara HSBC Young Term Plan provides comprehensive financial protection for your family in the event of your untimely death during the policy term, i.e. while the policy is still active. Beyond offering a death benefit, the plan also covers terminal illnesses, as well as accidental disabilities, ensuring protection for a wide range of risks. With two different plan options available, it allows for flexibility in choosing coverage that fits your needs. This makes it an effective and affordable choice for securing your family’s future, giving you peace of mind knowing they are well-protected no matter what happens.

1. Features of Canara 75 Lakh Term Insurance Plan 

   Here are some reasons why you should consider buying the Canara DigiShield Plan:

   • Get comprehensive life cover for yourself and your family with this life insurance plan.

   • 2 Plan Options to choose from:

     • Life Secure

     • Life Secure with Return of Premium 

   • Under the Block Your Premium (BYP) Benefit, you can lock in your premium rate for the first 5 years and increase your death benefit by up to 25%/50%/75%/100%, without additional underwriting, regardless of age, as long as the policy is active.

   • Avail tax benefits upto Rs. 46,800 per year under applicable sections of the Income Tax Act, 1961.

2. Eligibility Criteria of Canara DigiShield Plan

   The eligibility conditions to buy Canara DigiShield Plan are as follows:

   Criteria	Minimum	Maximum
   Entry Age	18 years	45 years
   Maturity Age	99 years (80 years for non-working spouse)
   Policy Term	Life Secure: 5 years Life Secure with Return of Premium: 10 years
   Sum Assured	25 Lacs	No Limit
   Premium Payment Terms	Regular and Limited Pay
   Premium Payment Modes	Monthly, Quarterly, Half-yearly, and Yearly

Who Should Buy Canara 75 Lakh Term Insurance?

• Young individuals

• Self-employed/Business Owners

• People with loans/debts 

• Newly married individuals

• Parents with children 

• Sole breadwinner

How to Buy Canara 75 Lakh Term Insurance from Policybazaar?

Here are the steps to buy a 75 Lakh term insurance plan from Policybazaar:

Step 1: Visit Policybazaar’s website and click on ‘Term Insurance.’

Step 2: Enter your name, date of birth, and contact details, then click ‘View Plans.’

Step 3: Provide information on smoking habits, income, occupation, and education, and choose ₹75 Lakh coverage.

Step 4: Select the Canara HSBC Term Insurance plan from the list of options.

Step 5: Complete your purchase by paying with your preferred payment method.

How Can You Contact Policybazaar To Buy Term Insurance Plan?

You can contact the below mentioned helpline numbers:

To Buy New Policy:

To buy a new term plan, call Policybazaar's helpline at 1800-208-8787.

For Help Regarding Existing Booking:

To get assistance regarding existing book, call Policybazaar’s helpline at 1800-258-5970.

Claim Assistance Helpline:

For claim support, call Policybazaar's helpline at 1800-258-5881.

Manage your claims conveniently by logging into 'My Account' on the Policybazaar website.

Policybazaar App:

Download the Policybazaar app for prompt customer support. You can address any insurance-related questions directly through the app.

*Note: You can contact Policybazaar Insurance Advisor for any insurance-related help/guidance or to clear doubts/confusion.

Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.

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