Canara Hsbc Easy Bachat Plan vs Lic Premium Endowment

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:

• The investment plan offers flexible premium payment terms that allow you to choose how long you want to pay: 5, 7, or 10 years.
• Choice of two plan options allows you to select the protection level: Endowment option or Money-back option.
• 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.

• The plan offers guaranteed yearly additions at the end of the premium payment term to maximize savings.
• In this plan, you'll get the dual protection benefits and long-term savings
• With Easy Bachat Plan Canara HSBC, you can stay protected with life cover for the entire policy term.
• Guaranteed Maturity Benefit is offered at the end of the policy term.

This plan has double roles to play. Firstly, this plan is applicable for safeguarding a family after the untimely death of the policyholder. Secondly, after maturity, it provides a handsome amount of money to the policyholder. After the end of each year, this policy has to offer a bonus amount which will be added to the main amount.

The name itself suggests that this plan is a limited-period offer. The meaning is the premiums that need to be paid are limited. After the end of certain years, the policyholder doesn't need to pay them anymore. This is one of the most attractive features of this plan. For example, if this policy is going to mature after 12 years then the policyholder has to pay premiums for at least 8 years. After that time period, they don't have to bear the payments. The amount of the actual policy will be paid fully if the policyholder dies unnaturally before maturity and also if it matures naturally.

LIC Premium Endowment Plan offers you a range of benefits including:

• Death Benefits
• Maturity Benefits
• High Sum Assured Rebates

• Profit Participation
• Bonuses