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Canara HSBC Easy Bachat plan is a long-term savings and family protection plan. It offers two plan variants, allowing policyholders to select the protection level: Endowment option or Money-back option.
Endowment Option: In this variant, you'll get an assured life cover during the policy term and a lump sum on maturity.
Money-back Option: Under this option, you'll get assured life coverage during the policy term, a lump sum on maturity, and survival benefits during the premium payment term.
With the Canara Easy Bachat plan, you can grow your savings with yearly guaranteed additions added at the end of each policy year, only during the premium payment term. The plan offers the flexibility to choose a premium payment term for 5, 7, or 10 years (PPT) and enjoy life cover for 10, 15, or 20 years.
Key Features of Canara HSBC Life Insurance Easy Bachat Plan:
Min- 18 years, Max- 55 years
65 years
10, 15, 20 years
5, 7, 10 years
Monthly, Quarterly, Half-Yearly or Annually
10 Lacs
In this variant, you'll get an assured life cover throughout the policy term and a lump sum guaranteed maturity benefit when your policy matures.
Benefits | Details |
Maturity Benefit | Under the Endowment option, if you survive till the maturity date, you shall receive a maturity benefit with the following additions:
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Life Insurance Death Benefit | If the policyholder passes away, unfortunately during the policy term, the death benefit amount payable to your nominee will be as follows:
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Under this option, you'll get assured life coverage during the policy term, a lump sum on maturity, and survival benefits during the premium payment term.
Benefits | Details |
Survival Benefit | Once you survive till the end of the premium payment term, the survival benefit amount payable to you will be as follows:
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Maturity Benefit | If you outlive the policy term and the policy is in force, the maturity benefit amount payable to you will be as follows:
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Life Insurance Death Benefit | Upon the policyholder's untimely demise before the maturity date, the insurance cover amount will be as follows:
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There are various benefits to buying the Canara HSBC Life Insurance Easy Bachat Policy. Let’s understand each of them in detail:
You can revive your lapsed policy within five years after the due date of the first unpaid premium.
Check out the revival Terms & Conditions-
With the Canara HSBC Easy Bachat plan, you can take out a loan after the policy obtains the surrender value. However, the minimum loan amount for a policy is Rs.5,000, and the maximum loan amount will not exceed 80% of the acquired surrender value.
Here is the list of documents required to buy the Canara HSBC Easy Bachat Plan:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records of the policyholder if requested.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the Canara HSBC Easy Bachat official website or one of their nearest branch offices.
Visit the official website of PolicyX.com.
Click on the ‘Investment’ tab.
A new page will appear on the screen.
Fill out the form at the top of the page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Visit the official website of Canara HSBC Life Insurance.
Hover over the 'Investment Plans' from the top of the menu.
Click on the 'Canara HSBC Easy Bachat Plan'.
Click on ‘Buy Now’ and you will be redirected to a new page.
Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
Once discussed you can make the premium payment and get the policy documents.
You can buy the Canara HSBC Easy Bachat Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
What’s Good Here | What’s Missing |
Choice of 2 Plan Options | Premium Offset |
Guaranteed Yearly Additions | High Sum Assured Rebate |
Survival Benefit | Auto cover continuance |
Flexible-Premium Payment Term | Additional Riders |
Lower Premiums | Whole Life Cover |
Canara HSBC Easy Bachat plan is a long-term savings and family protection plan. It offers a choice of two plan variants, allowing you to customize your plan according to your goals and needs.
For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
Choice of two plan options allows you to select the protection level: Endowment option or Money-back option.
The minimum or maximum sum assured in the Canara Easy Bachat plan is ₹20,148 to ₹10 lacs.
If you pay premiums for 5, 7, or 10 years (PPT), your life insurance coverage extends for 10, 15, or 20 years.
Yes, once you pay your premiums and interest, your policies will be revived to their total value.
The accumulated guaranteed addition will be paid out at maturity or death of Life Insured, whichever is earlier.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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February 5, 2023
Asia/Kolkata
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