www.lifeinscouncil.org | IRDAI Registration no: 136. www.irdai.gov.in WEBNJV3CHODEC17 ENG | CIN: U66010DL2007PLC248825
Trade Logo of Canara HSBC Life Insurance Company Limited (formerly known as Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd) hereinafter referred to as "Insurer" is used under license with Canara Bank and HSBC Group Management Services Limited.
1. The monthly survival benefit mentioned is an example of Life Assured opting for Sum Assured as 1Cr under Life Secure with Income plan option. Under this plan option, a Monthly Survival Income shall be payable at the beginning of each month, starting from the Policy Anniversary coinciding with or following the Life Assured attaining age 60 years (last birthday) which shall continue till the end of the Policy Term or the death of the Life Assured whichever is earlier. In case of death of the Life Assured during the Policy Term, Sum Assured on Death basis the Coverage option opted, less cumulative monthly income(s) already paid shall be payable. The Policy will terminate after payment of this benefit.
2. Benefits are guaranteed provided the policy is in force and all premiums are paid as and when due.
3. The above scenario has been calculated for a 25 year old individual who has opted for Canara HSBC Life Insurance Guaranteed Assured INcome - Early Income plan option and has chosen Premium Payment Term - 10 years, Income payout period - 39 years and Policy Term - 40 years, Income Payout Frequency - Annual and an Annualized premium of Rs. 1 lacs. Guaranteed Income is sum of Assured Income Installment Rs.49,750 + Loyalty Income Installment Rs. 24,875. Benefits are guaranteed provided the policy is in force and all premiums are paid as and when due. Immediate Income starts from the end of 2nd year onwards till the end of Premium Payment Term. Return of Premium as Final Benefit equal to 100% of Total Premiums payable will be paid at policy Maturity
4.Tax benefit of Rs. 46,800/- is calculated at the highest tax slab of 31.2%(including 4% cess) for an individual assessee on life insurance premium of Rs. 1.5 lacs under Income Tax Act, 1961 and tax benefit may vary from assessee to assessee. Tax benefits/savings are subject to provisions under section 80 C, 80 CCC, 80 D, 10(10A), 10(10D) and other sections of the Income Tax Act, 1961. The provisions of Income Tax Act, 1961 are subject to amendments made by the government from time to time. Goods & Services Tax will be charged on the premium amount. Please consult your independent tax advisor for details.
5. The maturity benefit is calculated for a 25 years old healthy male life who has opted for Canara HSBC Life Insurance iSelect Guaranteed Future Plus with Endowment Option, monthly premium Rs. 10,000 (excluding taxes), premium payment term 10 years and policy term 20 years through online sales channel. The maturity benefit in form of a lumpsum benefit equal to Rs.34,24,444 is paid at the end of the 20th year, provided the policy is in-force and all due premiums have been paid. T&C Apply.
6. The premium of ₹939 mentioned is exclusive of goods and service tax and is an example for a healthy 25-year-old male, non-smoker, covered for ₹2 crore under plan option ‘Life Secure’ with monthly mode of payment and coverage option as ‘level’. The policy term and premium payment term considered is 10 years. Actual premium rates may vary and will depend on the plan/coverage opted and company's assessment of risk on insured's health, lifestyle, occupation etc. Refer Sales Brochure for further details
- Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document issued by the insurance company.
- The Unit linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Unit linked Insurance Products completely or partially till the end of the fifth year.
- The investment risk in investment portfolio is borne by the policyholder.
- Canara HSBC Life Insurance Company Limited is only the name of the insurance company and Canara HSBC Life Insurance Invest 4G is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
- Unit linked Insurance products are different from the traditional insurance products and are subject to the risk factors.
- The premium paid in Unit linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
- The premium shall be adjusted on the due date even if it has been received in advance.
- The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects and returns.
- Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.
- The premiums & funds are subject to certain charges related to the fund or to the premium paid.
- Collection of advance premium shall be allowed within the same financial year for the premium due in that financial year However, where the premium due in a financial year is being collected in previous financial year, the premium may be collected for a maximum period of three months in advance of the due date of the premium. The premium so collected in advance shall only be adjusted on the due date of the premium. Such advance premium, if any, paid by the Policyholder shall not carry any interest.
7. The above scenario has been calculated for a 52 year old individual who has opted for Canara HSBC Life Insurance Guaranteed Assured INcome - Long Term Income plan option and has chosen Premium Payment Term - 12 years, Deferment Period - 5 years, Income payout period - 30 years, income will commence at the end of 18th year till the end of 47th year and Policy Term - 47 years, Income Payout Frequency - Annual and an Annualized premium of Rs. 5 lacs. Guaranteed Income displayed above is the sum of Assured Income installment + Loyalty Income installment. The above benefits will be applicable, provided the policy is in-force till the end of the Policy Term. For details on benefits and terms and conditions applicable under the product, please refer the sales literature.
^Individual death claims settled and reported in public disclosures for FY 2022-23.
For more details on risk factors, terms and conditions please read the Sales Brochure carefully before concluding a sale.
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