Canara HSBC Easy Bachat Plan

Overview

The Canara HSBC Easy Bachat plan is a long-term savings and family protection plan. It offers two plan variants, allowing policyholders to select their preferred protection level: the Endowment option or the Money-back option.

Endowment Option

In this variant, you receive an assured life cover during the policy term and a lump sum on maturity.

Money-back Option

Under this option, you receive 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, which are 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 (PPT) for 5, 7, or 10 years and enjoy life cover for 10, 15, or 20 years.

Key Features of Canara HSBC Life Insurance Easy Bachat Plan

• The investment plan offers flexible premium payment terms (5, 7, or 10 years).
• Choice of two plan options: Endowment option or Money-back option.
• Enjoy life cover for 10, 15, or 20 years.
• The plan offers guaranteed yearly additions at the end of the premium payment term to maximize savings.
• Provides dual protection benefits and long-term savings.
• Stay protected with life cover for the entire policy term.
• Guaranteed Maturity Benefit is offered at the end of the policy term.

How to Buy the Canara HSBC Easy Bachat Plan Online via PolicyX.com

1. Visit the official website of PolicyX.com.
2. Click on the 'Investment' tab.
3. A new page will appear on the screen.
4. Fill out the form at the top of the page with the necessary details.
5. Select your income and city. Click on 'Proceed'.
6. Update your education and occupation details.
7. Choose your preferred plan and click on 'Buy this plan'.
8. Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Benefits of Canara HSBC Life Insurance Easy Bachat Policy

There are various benefits to buying the Canara HSBC Life Insurance Easy Bachat Policy. Let's understand them in detail:

Death Benefit

Upon the insured person's untimely death during the policy term, the sum assured on death payable is the highest of:

• 11 times the Annualized Premium
• 105% of Total Premiums Paid as of the date of death
• Guaranteed Sum Assured on Maturity
• The Absolute amount assured to be paid on death

Maturity Benefit

The guaranteed maturity amount may vary based on your chosen plan option at policy inception. The maturity benefit amount payable to you will be as follows:

• For the Endowment option: 100% of the Sum Assured
• For the Money-back option: 70% of the Sum Assured

Guaranteed Yearly Additions (GYAs)

With the Canara Easy Bachat plan, you can grow your savings with yearly guaranteed additions, which are added at the end of each policy year, only during the premium payment term. The yearly guaranteed addition will equal 20% of the annualized premium. The accumulated guaranteed addition will be paid out at maturity or death of the Life Insured, whichever is earlier.

Surrender Value

If you feel there's no need to continue the policy, you can surrender it and receive the surrender value. Under this plan, policy surrender is allowed after a premium payment of two full years' premium. On policy surrender, you will get the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).

How to Buy the Canara HSBC Easy Bachat Plan via Official Website

1. Visit the official website of Canara HSBC Life Insurance.
2. Hover over 'Investment Plans' from the top menu.
3. Click on 'Canara HSBC Easy Bachat Plan'.
4. Click on 'Buy Now' and you will be redirected to a new page.
5. Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
6. Once discussed, you can make the premium payment and get the policy documents.

Exclusions

• Suicide within 12 months of the policy purchase is not covered.
• Consumption of any intoxicants.
• Death due to any aviation accident.
• Death due to any adventurous sports.

Policy Revival

You can revive your lapsed policy within five years after the due date of the first unpaid premium. Check out the revival Terms & Conditions:

• A written application for revival is required.
• You must pay your premium and interest rate to restore your policy to its total value.

Policy Loan

With the Canara HSBC Easy Bachat plan, you can take out a loan after the policy obtains a surrender value. 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.

Documents Required to Buy Canara HSBC Easy Bachat Plan

Here is the list of documents required to buy the Canara HSBC Easy Bachat Plan:

• Photo ID Proof

  Passport, Aadhaar card, PAN card, Driving license.

• Age Proof

  Passport, Aadhaar card, PAN card, Driving license.

• Address Proof

  Utility bill, passport, voter ID, ration card.

• Medical Records

  Medical records of the policyholder if requested.

• Income Proof

  Bank statement, last three months' salary slips (if salaried).

Plan At a Glance

In a Nutshell

The 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 information 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.