Canara HSBC vs Edelweiss Tokio
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Canara HSBC Life vs Edelweiss Tokio Life Insurance 2024

Canara HSBC and Edelweiss Tokio both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of Canara HSBC is 98.44% whereas Edelweiss Tokio has 98.09% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.

PLAN DETAILS Edit Canara HSBC

Canara HSBC

Edit edelweiss-tokio-life

Edelweiss Tokio

Number of life insurance plans and add-ons
Entry Age (Min-Max) 18-65 years 18-65 years
Policy Term 5 - 65 years 10-62 years
maturity Age (Min-Max) 23-70 years 28-70 years
Claim settlement ratio (CSR) 98.44% 98.09%
Asset under managment (AUM) 30204 Crores 78642 Crores
Solvency ratio 2.8 2
Policy Type
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
Coverage Amount
  • Minimum- 3 Lakh
  • Maximum- No Limit
  • Minimum- 15 Lakh
  • Maximum- No Limit
Optional Additional Riders
  • Critical illness rider
  • Waiver of premium rider
  • Group critical illness rider
  • Hospital cash benefit rider
  • Group extended critical illness rider
  • Accidental death benefit rider
  • Accidental total & permanent disability rider
  • Income benefit rider
  • Pay or waiver benefit rider
  • Critical illness rider
  • Waiver of premium rider
  • Group critical illness rider
  • Hospital cash benefit rider
  • Group extended critical illness rider
  • Accidental death benefit rider
  • Accidental total & permanent disability rider
  • Income benefit rider
  • Pay or waiver benefit rider
Number of term plans 3 5
Exclusions Suicide or self inflicted Injury Suicide or self inflicted Injury
Death Benefit Yes Yes
Survival Benefit Yes Yes
Claims procedure Both (Online+offline) Both (Online+offline)
Type of the insurer Private Private
Online buying facility for life plans Yes Yes
Premium payment options Single/limited/Regular Single/limited/Regular
Online claim facility Yes Yes

Life Insurance Companies

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Canara HSBC Term Insurance Plans

Canara HSBC POS - Easy Bima Plan

Canara HSBC POS- Easy Bima Plan comes with a 'Return of Premium' benefit on surviving the policy tenure until maturity. The plan offers flexibility to select policy and the premium payment term.

Unique Features

  • Double life cover in accidental death
  • Customized your plan as per needs
  • Return of premium on survival

A Non-Linked, Non-Participating, Individual, Pure Risk plan that offers 3 plan options with steady income benefits.

Unique Features

  • Life cover till 99 years
  • Child Care Benefit option
  • Income Benefit after 60 years

iSelect Smart360 Term Plan (Pros)

  • 3 Plan Options & Spouse Cover
  • Accidental Death Benefit
  • Accidental Total & Permanent Disability

iSelect Smart360 Term Plan (Cons)

  • No Policy Loan Allowed
  • No Maturity Benefit
  • No Benefit On Revival

iSelect Smart360 Term Plan (Other Benefits)

  • Critical & Terminal Illness
  • Option To Block Your Premium
  • 5% Loyalty Discount

iSelect Smart360 Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 81 Yrs
  • Premium Payment Term - RP/SP/LP(5&25 Years)

Canara HSBC iSelect Star Term Plan

With in-built coverage such as Accidental Death benefits, Accidental Total and Permanent Disability benefits, the plan that allows you to customize your term plan as per your needs.

Unique Features

  • Add a spouse @discounted rates
  • Lifetime coverage available
  • Multiple options to receive benefits

Canara HSBC Saral Jeevan Bima Term Plan

A standard and affordable term insurance plan that offers a lump-sum amount to the beneficiary in case of the death of the policyholder.

Unique Features

  • Customize Premium Payment Term
  • Tax Benefits
  • Hassle-free buying process

Saral Jeevan Bima Term Plan (Pros)

  • Available for Online Buying
  • Choose to Pay Premium Once
  • High Sum Assured

Saral Jeevan Bima Term Plan (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima Term Plan (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Canara HSBC Young Term Plan Online

The plan offers whole life cover, cover for 40 critical illnesses and a Special Exit Value for added financial security

Unique Features

  • WOP On Diagnosis of CI
  • Return of Premium Benefit
  • Child Education Benefit

Young Term Plan Online (Pros)

  • 2 Plan Options & Spouse Cover
  • Accidental Death Benefit
  • Accidental Total & Permanent Disability

Young Term Plan Online (Cons)

  • No Policy Loan Allowed
  • No Pre-Existing Diseases Cover
  • No Benefit on Revival

Young Term Plan Online (Other Benefits)

  • Critical & Terminal Illness
  • Option To Block Your Premium
  • 5% Loyalty Discount

Young Term Plan Online (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 45 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 99 Yrs
  • Premium Payment Term - RP/SP/LP(5 To 15 Yrs)

Edelweiss Term Insurance Plans

Edelweiss Tokio Life Saral Jeevan Bima

A simple term insurance plan to cover your family with a limited pay option, tax benefits and flexible policy terms.

Unique Features

  • Life Cover
  • Flexible policy term
  • Tax Benefit

Saral Jeevan Bima (Pros)

  • Available for Online Buying
  • Choose To pay Premium Once
  • Max Sum Assured 50L

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Edelweiss Tokio Life Zindagi Plus Plan

A term insurance plan that covers COVID-19 death claims offers additional life cover to your spouse in your absence and discounts on high sum assured.

Unique Features

  • Return of Premium Option
  • Flexible Death Benefit Payment
  • Early Exit Benefit

Zindagi Plus Plan (Pros)

  • 4 Add-On Riders
  • Suicide Claim
  • Convertible Premium Paying Term

Zindagi Plus Plan (Cons)

  • No Loan Benefit
  • Reduced Paid-up Benefit
  • No Surrender Benefit For Life Cover

Zindagi Plus Plan (Other Benefits)

  • Better Half Benefit
  • Critical Illness Rider
  • Life-Hospital Cash Benefit Rider

Zindagi Plus Plan (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Years
  • Premium Payment Term - 5 to 25 Years

Edelweiss Tokio Zindagi Protect

The plan offers life cover up to 100 years with a ROP option. It comes with a discount on the first-year premium for early medical examination completion.

Unique Features

  • Child's Future Protect Benefit
  • Premium Break Benefit
  • Discount on 1st Year Premium

Zindagi Protect (Pros)

  • Increased SA at Key Life Stages
  • Non-forfeiture Benefits
  • Guaranteed Sum Assured on Maturity

Zindagi Protect (Cons)

  • No Survival Benefit
  • No Surrender Benefit
  • No Policy Loan Allowed

Zindagi Protect (Other Benefits)

  • Multiple Rider Options
  • Critical Illness Rider SA ≥ 50 Lakhs
  • Flexible Enhancements

Zindagi Protect (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - 80 Yrs
  • Premium Payment Term-RP/SP/LP

Edelweiss Tokio Total Protect Plus

Provides all-round financial protection to your family in your absence. It also provides coverage to your better half in the same plan at a little extra cost.

Unique Features

  • Return of Premium Option
  • Flexible Death Benefit Payment
  • Early Exit Benefit

Total Protect Plus (Pros)

  • Convertible Premium Paying Term
  • 4 Add-On Riders
  • Suicide Claim

Total Protect Plus (Cons)

  • No Loan Benefit
  • Reduced Paid-up Benefit
  • No Surrender Benefit For Life Cover

Total Protect Plus (Other Benefits)

  • Better Half Benefit
  • Critical Illness Rider
  • Life-Hospital Cash Benefit Rider

Total Protect Plus (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Years
  • Premium Payment Term - 5 to 25 Years

Life Insurance Articles

Life Insurance FAQs

Life Insurance FAQsSeptember, 2021

Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.