Canara HSBC Life Insurance

The plan allows you to stay covered till age 99.

Policyholders can choose among a lump sum, monthly income for 60 months, or a combination of the two.

With the Level Cover option, policyholders can increase their cover amount during major life events such as marriage, childbirth, legal adoption, or home purchase.

The plan also offers an optional Increasing Cover variant in which the sum assured increases by 10% each year for the first 10 policy years, up to a maximum of 100% over the original cover amount.

The policyholder can exit the policy and receive the total premiums paid, excluding underwriting extra premiums and premiums paid for optional in-built covers, if any. This can be exercised at the earlier of: the policy year when the life assured turns 65, or the 25th policy year for policy terms of 40 to 44 years, and the 30th policy year for policy terms above 44 years. The policy must be in force, the policy term must be at least 40 years, and the maturity age must not exceed 85 years.

Both the policyholder and spouse are covered under the same policy with separate sums assured. On the first death, the sum assured for the affected life is paid, and the policy continues for the surviving life with a reduced premium. On the second death, the relevant sum assured is paid, and the policy ends. If both lives pass away simultaneously, the sum assured for both lives is paid.

This benefit provides an additional lump-sum payout if the policyholder dies in an accident during the policy term. The accidental death benefit is paid over and above the base death cover.

Under this benefit, future premiums are waived if the insured suffers accidental total and permanent disability. There is also an enhanced ATPD option that pays an additional lump-sum amount immediately and waives future premiums.

If the insured is diagnosed with a covered terminal illness, the plan pays a lump sum of up to ₹2 crore in advance. This is an accelerated benefit, meaning the death benefit is reduced by the payout amount.

This optional benefit provides an additional payout if the policyholder passes away while their child is under 22.

The Block Your Premium feature allows policyholders to lock their premium rates for up to 5 years and increase their cover later without additional medical underwriting. Depending on the option chosen at inception, the cover can be increased by up to 100% of the original sum assured.

The plan allows policyholders to choose between Level Cover, where the sum assured stays constant, and Increasing Cover, where the life cover increases by 10% every year for the first 10 policy years, up to a maximum of 100% increase over the original sum assured.

Policyholders can increase their cover during major life events such as marriage, childbirth/legal adoption, or home purchase, subject to policy conditions.

The policyholder can exit the plan and receive the total premiums paid, excluding underwriting extra premiums and premiums paid for optional in-built covers, if any. This can be exercised at the earlier of: the policy year when the life assured turns 65, or the 25th policy year for policy terms of 40 to 44 years, and the 30th policy year for policy terms above 44 years. The policy must be in force, the policy term must be at least 40 years, and the maturity age must not exceed 85 years.

This benefit provides an additional payout over the base death benefit if death occurs due to an accident during the policy term.

Under this option, future premiums are waived if the insured suffers accidental total and permanent disability. The ATPD Premium Protection Plus variant also pays a lump-sum amount immediately.

If the insured is diagnosed with a covered terminal illness, the plan pays a lump sum benefit of up to ₹2 crore in advance. Since it is an accelerated benefit, the death benefit is reduced by the amount already paid.

This optional benefit provides an additional payout if the policyholder dies while the child is under 22, helping secure future education and financial milestones.

The Block Your Premium feature allows policyholders to lock premium rates at inception and increase life cover within the first 5 policy years without fresh medical underwriting. The cover can be increased by up to 100% of the original sum assured, depending on the option selected.

The plan also offers the option to cover a spouse under the same policy. Working spouses can select their own coverage options and optional benefits, while non-working spouses get fixed coverage throughout the policy term.

The plan offers life cover up to a maximum maturity age of 80 years, subject to the chosen policy term and entry age.

Under this option, if the life assured or covered spouse passes away during the policy term while the policy is in force, the applicable sum assured on death is paid. If both the life assured and spouse are covered, the policy continues until the death of the last surviving member covered under the policy.

The sum assured can be increased up to three times during the policy term on major life events such as marriage, childbirth/legal adoption, or purchase of a new house. The request must be made within one year of the life event, and the increase takes effect on the next policy anniversary after the insurer's acceptance.

Under this option, the sum assured increases by 10% every year on a simple interest basis after completion of each policy year, provided the policy is in force. The increase is capped at 100% of the original sum assured, and the final increase happens after the completion of the 10th policy year. After that, the sum assured remains at the enhanced level for the remainder of the policy term.

The policyholder can exit the policy and receive the total premiums paid, excluding underwriting extra premiums. This can be exercised at the earlier of: the policy year in which the life assured turns 65, or the 25th policy year for policy terms of 40 to 44 years, and the 30th policy year for policy terms above 44 years. The policy must be in force, the policy term must be at least 40 years, and the benefit is not available if spouse cover is active.

Both the policyholder and spouse are covered under the same policy with separate sums assured. On the first death, the sum assured for the affected life is paid, and the policy continues for the surviving life with the applicable premium. On the second death, the sum assured for that life is paid, and the policy terminates. If both lives pass away simultaneously, the sum assured for both lives is paid.