Canara HSBC Saral Jeevan Bima
- Get Accidental Cover
- Premium Discount for Female
- Multiple Premium Paying Term
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Canara HSBC Saral Jeevan Bima is a simple, easy to understand term insurance plan that comes with benefits like easy on pocket premiums, flexibility to choose your own policy term and premium payment term. It gives a lump sum payment to your nominee in the event of your demise.Canara HSBC Saral Jeevan Bima covers accidental death from day 1 of the policy inception. Which means that this plan offers death benefit if something happens to you due to an accident during the waiting period of 45 days.Apart from this, the minimum sum assured that you can choose is 5 lakhs and the maximum that you can choose is 25 lakhs. The Saral Jeevan Term Plan by Canara HSBC also offers discounts for non-smokers and females.
Canara HSBC Saral Jeevan Bima Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 70 years
Minimum term - 5 years Maximum term - 40 years
Basic Sum Assured: Rs. 5 Lakhs to Rs. 25 Lakhs
The policy loan is not available under Canara HSBC Saral Jeevan Bima Plan.
Yearly, half-yearly & monthly
Let's understand how the Canara HSBC Saral Jeevan Bima plan works with a simple premium illustration.
Mr. Gurjeet is a 30-year-old non-smoker earning 10 lakhs annually and looking for a simple term plan that provides high life cover at affordable premiums.
His financial advisor advised him to buy the Canara HSBC Saral Jeevan Bima Plan Work. He visited PolicyX.com.
Let's understand how the Canara HSBC Saral Jeevan Bima plan works for him with a premium illustration table.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹586/month | ₹7,032/year | 30 years | ₹2,10,960 | ₹25 Lakhs |
Key Takeaways: If Mr. Gurjeet dies during the policy tenure, his family will receive ₹25 Lakhs as a death benefit from the insurer.
Here are the benefits associated with the Canara HSBC Saral Jeevan Bima
Upon the unfortunate demise of the life insured during the policy term, the Canara HSBC Saral Jeevan bima term plan offers the death benefit amount as a lump sum to their nominee.
This Policy will cover death due to accident only during the Waiting Period of 45 days from the commencement date of risk.
Canara HSBC Saral Jeevan Bima offers a tax rebate of up to 1.5 lac, under section 80C of the Income Tax Act 1961, for the premium paid under the same financial year.
You can add the following riders to your Canara HSBC iSelect Smart 360 Term Plan:
Get an extra payout on top of base cover upon death due to an accident.
Upon accidental total & permanent disability to the policyholder, your future premiums will be waived, and the policy will continue till maturity.
If you are diagnosed with 40 pre-specified critical illnesses, your future premiums will be waived, and the policy will continue until maturity.
If you are diagnosed with any covered terminal illness, lump sum benefit up to a maximum of Rs. 2 Crores shall be payable while you're alive.
Here is the list of exclusions associated with the plan:
Canara HSBC Saral Jeevan Bima is a pure protection plan that offers high life cover at cost-effective premiums. On the policyholder's unfortunate demise during the policy term, the lump sum death benefit shall be payable to their nominee. If you have doubts or queries regarding the Canara HSBC Saral Jeevan Bima Term Pla, you can contact us through the website policyx.com or at 1800-4200-269.
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I am a passionate content writer with over three years of experience in the insurance domain. An avid learner, I always tries stays ahead of the industry's trends, ensuring my writing remains fresh and includes the latest insurance shifts. Through my work, I strive to engage with targeted insurance readers.
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