Canara HSBC Money Back Advantage Plan & Benefits | PolicyX
Canara HSBC Investment Plans Canara HSBC Investment Plans ★ 5.0

Canara HSBC Money Back Advantage

Canara HSBC Money Back Advantage Plan is an individual non-linked life ...Read More

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📊 100 years solvency ratio
Minimum Age - 0 year% claim settlement ratio
🌐 Yearly, half-yearly+ pan-India

About Canara HSBC Money Back Advantage

A quick read on what this Canara HSBC Investment Plans term plan covers and why it might be a fit for you.

Canara HSBC Money Back Advantage Plan is an individual non-linked life insurance cum saving plan. It offers comprehensive benefits of saving and protection in the same plan. This investment plan provides three Guaranteed Money Back payouts at the end of the 5th, 9th, and 13th policy year. It also offers a rebate on premiums for a higher sum assured.

This plan offers complete coverage for up to 75 years, along with a policy term of 16 years.

Canara HSBC Money Back Advantage plan offers some exclusive features such as:

  • Family protection
  • Limited premium paying term
  • Guaranteed sum assured on maturity
  • Tax Benefits as per Income Tax Act 1961

Eligibility Criteria for Canara HSBC Money Back Advantage

Entry age
Entry age
Minimum- 8 years, Maximum- 55 years
Maturity age
Maturity age
71 year
Policy tenure
Policy tenure
16 years
Premium payment term
Premium payment term
10 year
Premium payment frequency
Premium payment frequency
Quarterly, Half yearly, Annually
Sum assured
Sum assured
Minimum- 1 Lac, Maximum- No Limit

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Family protection
  • Limited premium paying term
  • Guaranteed sum assured on maturity

Cons

  • Suicidal death not covered
  • Aviation accidents not covered
  • Death related to intoxication not covered

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum entry age: 8 years
Maximum entry age: 55 years
Minimum sum assured: 1 Lakh
Maximum sum assured: No Limit
Maximum policy term: 16 years

Documents Required for Canara HSBC Money Back Advantage

Keep these documents handy when applying for Canara HSBC Money Back Advantage.

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).

Conclusion

If you are looking for a life insurance plan that provides guaranteed consecutive payouts for important milestones during your life, consider purchasing the Canara HSBC Life Money Back Advantage. This plan offers three guaranteed payouts in the 5th, 9th, and 13th policy years. For any questions related to this plan, you can directly contact PolicyX.com. Our IRDAI-certified advisors will contact you shortly and provide the best possible solution at zero cost.

Canara HSBC Money Back Advantage Plan: FAQs

The 4 most-asked questions about Canara HSBC Money Back Advantage, answered.

The minimum age to purchase this plan is eight years.
The maximum maturity age to purchase this plan is 71 years.
This plan offers two different premium terms: monthly and Annual.
No, a policy loan is not available in this plan.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

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