Canara HSBC Life Insurance Company Limited
Canara HSBC Life iSelect Smart360 Term Plan
Canara HSBC flagship term plan with 3 variants. Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan.
The dealbreaker fields (term life)
Sum assured (max)
—
Claim settlement (CSR)
99%
Claims TAT
[object Object] days
Suicide exclusion
12 months
Payout options
Lumpsum · Lumpsum + Monthly Income · Lumpsum + Return of Premium
Premium payment
Single Pay · Regular Pay · Limited Pay
Policy term
5–81 yrs
Surrender value
no_for_life_secure_regular_pay_only_RoP_variant_has_GSV_SSV
Free look
30 days
What this plan does well
- 3 variants: Life Secure / Life Secure with Income / Life Secure with Return of Premium
- Coverage up to age 99
- Block Your Premium — freeze premium rate at inception (Life Secure only) — UNIQUE
- Life Stage Enhancement — increase SA at marriage/childbirth without medicals
- Multiple Death Benefit Payout Options
- Optional Covers: ADB / ATPD / Child Care / Block Your Premium / Terminal Illness
- Bank-backed — Canara Bank + HSBC JV — strong financial backing
- Special Exit Value option
Watch out for
- Life Secure Regular Pay variant: NO Surrender Value (lapse on premium miss)
- Block Your Premium ONLY in Life Secure (not in Income/RoP variants)
- Child Care Benefit ONLY in Life Secure
- Terminal Illness in Life Secure + RoP only (NOT Income variant)
- Suicide payout % not specified in CIS (industry standard 80% premiums)
- Claim TAT 30 days non-investigation (vs Bandhan 15 days)
Is this the right plan for you?
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