Canara HSBC Life Insurance Company Limited is a major bancassurance-led insuranc ...Read More
Canara HSBC Life Insurance Company Limited is a major bancassurance-led insurance company with a vast portfolio of life insurance solutions and offers various products ...Read Less
No Spam, No Gimmicks
Genuine, honest, and hassle-free
Personalised Insurance Advice
Advice that fits your life
24*7 Claim Assistance
24/7 hassle-free claim support
Google Ratings (2500+)
11+ Years
IRDAI Approved
5M+
Quotes Generated
100K+
Happy Customers
PolicyX is one of India's leading digital insurance platform
Google Ratings (2500+)
11+ Years
IRDAI Approved
5M+
Quotes Generated
100K+
Happy Customers
PolicyX is one of India's leading digital insurance platform
PolicyX Exclusive Benefits
No Spam No Gimmicks
Personalised Insurance Advice
24×7 Claim Assistance
×
Share This Page
Spread the word by sharing this page with your friends
Divya Singh is an associate writer at PolicyX.com with over 1 year of experience in creating diverse forms of content. She specializes in breaking down complex terms and life insurance topics into clear, practical insights for readers. Her approach combines thorough research with a simple, engaging style, ensuring that customers can understand policies without confusion.
Raj Kumar has more than a decade of experience in driving product knowledge and sales in the health insurance sector. His data-focused approach towards business planning, manpower management, and strategic decision-making has elevated insurance awareness within and beyond our organisation.
Updated on Jan 26, 2026 4 min read
About Canara HSBC Life Term Insurance Plans
Canara HSBC offers 3 online term insurance plans: Young Term Plan, ISelect Smart 360 Term Plan, and Saral Jeevan Bima. Each plan is designed to cater to customers' needs, which helps secure your family financially in your absence. You can get a Canara HSBC young term insurance plan starting at just Rs. 751/ per month (T&Cs apply). Buying a term insurance plan is a great step to secure your family's financial future.
What are some of the Benefits that set them apart?
Get life cover till 99 years of age,
40 illness protection,
Return of total premium paid in case of no claim,
Block your premiums and increase cover by up to 100%,
Child care benefit,
High cover at affordable premiums,
Tax Benefits as per applicable laws,
In-built waiver of premium, etc.
Solvency Ratio
2.13
Claim Settlement Ratio
99.43%
Annual Premium
7128.70 crore
Branches
100
Canara HSBC Term Insurance Plans
Canara HSBC Term Insurance offers you multiple term insurance plans based on the features, benefits, and
eligibility criteria. Here are some of the term plans offered by Canara HSBC Term Insurance.
Promise2Protect by Canara HSBC Life Insurance is a pure protection plan that offers policyholders to choose from two plan options: Life Secure and Life Secure with Return of Premium.
Saral Jeevan Bima is a one-shop stop for all your needs, offering lump sum benefits in case of death of the life insured. The plan offers flexible premium payment terms, policy terms, or premium payment frequency.
Here are the key features of the above plan
Get high life cover at affordable premiums.
The lump sum benefit amount shall be payable to the nominee upon life-insured unfortunate death during the policy term.
Flexible premium payment terms allow you to pay a premium at your convenience.
The plan offers special premium rates for women and non-tobacco users.
Canara HSBC Young Term Plan is a pure risk protection plan. It offers a choice of 2 plan options to select a level of protection: Life Secure or Life Secure with Return of Premium. The plan provides several in-built benefits such as increasing life cover, spouse cover, special exit value, block your premium benefit, etc.
Here are the key features of the above plan
Special Exit Value ensures you get all the premiums paid without a claim if you voluntarily surrender the policy.
Your future premium will be waived if you are diagnosed with a covered critical illness or you have accidental total & permanent disability.
Get an extra payout on top of the base cover in case of critical illness, accidental total & permanent disability, or accidental death, as per the benefits chosen.
The child care benefit feature offers an additional sum assured till your child attains 21 years of age.
Option to block your premium rate at inception and increase cover up to 100% of the base sum assured in the next 5 years.
Canara HSBC Life Insurance iSelect Smart360 Term Plan is an online protection plan that offers a choice of 3 plan options. It includes life secure, life secure with income, or life secure with return of premium. Each plan option has added key features such as spouse cover, income options in case of death, return of premium at maturity, etc.
Here are the key features of the above plan
With spouse cover, you can add your spouse under the same plan and get coverage for two people.
The plan allows you to increase your sum assured later as you progress in your life under the life stage benefit.
Get all your premiums back once you survive till the end of the policy term.
The child care benefit feature offers an additional sum assured till your child attains 21 years of age.
Option to block your premium rate at inception and increase cover up to 100% of the base sum assured in the next 5 years.
Get a steady flow of income at the beginning of each month, starting from the policy anniversary.
Explore other Canara HSBC Term Insurance
Canara HSBC Term Insurance offers one of the best term insurance plans to cater to the unique needs of every customer. You can buy their term plans with high life cover at pocket-friendly costs. Get a 5% discount for online purchases and 100% claim assistance with Canara HSBC Term Insurance plans. Below is the list of term plans offered by Canara HSBC.
Promise2Protect by Canara HSBC Life Insurance is a pure protection plan that offers policyholders to choose from two plan options: Life Secure and Lif...
Canara HSBC Saral Jeevan Bima is a simple, easy to understand term insurance plan that comes with benefits like easy on pocket premiums, flexibility t...
Canara HSBC Young Term Plan is an online available pure protection term insurance plan. It offers two plan options, allowing policyholders to select t...
Unique Features
Life Stage Benefit
Special Exit Value
Child Care Benefit
Canara HSBC Young Term Plan (Pros)
2 Plan Options & Spouse Cover
Accidental Death Benefit
Accidental Total & Permanent Disability
Canara HSBC Young Term Plan (Cons)
No Policy Loan Allowed
No Pre-Existing Diseases Cover
No Benefit on Revival
Canara HSBC Young Term Plan (Other
Benefits)
Critical & Terminal Illness
Option To Block Your Premium
5% Loyalty Discount
Canara HSBC Young Term Plan (Eligibility
Criteria)
Canara HSBC iSelect Smart 360 is a comprehensive protection plan that allows you to stay protected with a life cover at affordable premiums. It offers...
Unique Features
3 Plan Options
Add Your Spouse
Block The Premium
iSelect Smart 360 Term (Pros)
3 Plan Options & Spouse Cover
Accidental Death Benefit
Accidental Total & Permanent Disability
iSelect Smart 360 Term (Cons)
No Policy Loan Allowed
No Maturity Benefit
No Benefit On Revival
iSelect Smart 360 Term (Other
Benefits)
Critical & Terminal Illness
Option To Block Your Premium
5% Loyalty Discount
iSelect Smart 360 Term (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)
Recommended Videos
Canara HSBC Term Insurance Plans
Riders You Can Avail With Canara HSBC Term Insurance Plans
You can avail of the following riders with your Canara HSBC Term Insurance Plans.
Name of the Riders
Benefits
Accidental Death Benefit
Get an extra payout on top of base coverage upon death due to an accident.
Accidental Total & Permanent Disability Premium Protection
Upon accidental total & permanent disability to the policyholder, your future premiums will be waived, and the policy will continue till maturity.
Accidental Total & Permanent Disability Premium Protection Plus
Get an extra payout on top of the base cover lump sum in case of accidental total & permanent disability, and your future premiums will be waived.
Critical Illness Premium Protection
If you are diagnosed with 40 pre-specified critical illnesses, your future premiums will be waived, and the policy will continue until maturity.
Critical Illness Premium Protection Plus
Get additional coverage if you are diagnosed with any 40-covered critical illness, and your future premiums will be waived, and the policy will continue until maturity.
Terminal Illness Benefit
If you are diagnosed with any covered terminal illness, a lump sum benefit up to a maximum of Rs. 2 Crores shall be payable while you're alive.
Benefits of Canara HSBC Term Insurance
Canara HSBC Term Insurance is one of the most trustworthy and reliable insurer partners you can choose from. Here
are the reasons why you should choose Canara HSBC Term Insurance Plans:
Vivid Plan Options
Kotak Life offers you various plan options with different features and benefits. You can choose the one that best suits your requirements.
Affordable Premiums
Kotak Life offers you term plans at affordable premiums so that it does not affect your pockets.
Flexible Policy Term Options
Kotak Term Plans offer you flexible policy term options to choose from as per your wish.
Healthy CSR
Kotak Life has a high CSR of 99.43%. It means you don’t need to worry about your claim settlement.
Why Buy Canara HSBC Term Insurance Plans?
You should buy Canara HSBC Term Insurance because of the following reasons:
This plan provides a high sum assured at low premiums.
It provides clients with flexible payout options, be it a lump sum or regular income to suit family needs.
This plan also provides a Return of Premium option. You can get back 100–115% of premiums if no claim is made.
It protects up to the age of 99, unlike basic term plans.
There is a premium waiver on disability, which ensures coverage continues if you become permanently disabled.
Eligibility Criteria of Canara HSBC Term Insurance Plans
To purchase a Canara HSBC term insurance plan in 2025, certain eligibility criteria must be met. Let's understand the eligibility criteria in detail.
Age: A person between the ages of 18 and 65 is eligible to apply for a term life insurance plan. The policyholder’s age is a key factor in the term insurance plan’s premium.
Health condition: Since a Canara HSBC term insurance plan insures the policyholder’s life, most insurance providers require a policyholder to undergo a health examination to determine the current health condition and the inherent risks for the insurer. Be completely honest about your health condition and medical history to avoid issues during claim settlement.
Income: A Canara HSBC term insurance plan has no specified minimum income requirement. However, they might ask you for your bank statement copies and salary slips to determine the coverage on your term plan.
Smoking habits: If you smoke or have been a smoker in the past, you must disclose this information to the insurer. It is because smokers are exposed to severe health hazards like lung cancer.
Citizenship: Indian citizens can buy an Canara HSBC term insurance plan in India in their name. However, NRIs or PIOs can also leverage the benefits of a term insurance plan in India.
Additional Benefits Offered By Canara HSBC Term Plans
Canara HSBC Term Insurance Plans offer various additional benefits to the policyholders.
Premium Block Option
Canara HSBC term plans come with an in-built premium block feature. In this feature, you can block the premiums for the first years of the plan, and your basic sum will increase by up to 100%.
Steady Income Benefit
With Steady Income Benefit, you'll get a steady flow of income at the beginning of each month, starting from the end of the policy anniversary. It offers monthly survival income depending on the plan chosen at inception.
Whole Life Option
As the name suggests, term insurance provides coverage for a specific period, but with a whole life option, you can stay protected with a life cover for up to 99/100 years.
Spouse Life Cover
Under this option, the spouse cover allows you to add your husband or wife to a single plan. It is the same as the joint life policy, which offers coverage for two people under the same plan.
Life Stage Benefit
With life stage benefits, you can increase your sum assured amount limit with their changing responsibilities at certain milestones, such as marriage, childbirth, or adoption.
Types of Canara HSBC Life Term Plans
There are various Canara HSBC term plans based on their features. You can choose the one that best suits your requirements.
Basic Term Plan
Plan Name: Saral Jeevan Bima
Upon the policyholder's demise during the policy period, the death benefit amount shall be payable to the nominee.
Term Plan with Return of Premium
Plan Name: iSelect Smart360 Term Plan or Young Term Plan
Get back all the premiums paid towards the plan at maturity if you outlive the policy tenure.
Term Insurance with Monthly Income
Plan Name: iSelect Smart360 Term Plan
These plans provide a regular monthly income to the beneficiaries in case the policyholder passes away during the policy term.
Term Insurance with Critical Illness
Plan Name: Young Term Plan
The plan comes with an inbuilt coverage against critical illnesses.
Documents Required to Canara HSBC Life Term Insurance Policy
Here are the documents required to buy a Canara HSBC Life Term Insurance Plan:
Photo ID Proof
Age Proof
Address Proof
Medical Records
Income Proof
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
How to Buy a Canara HSBC Term Insurance Plan?
You can buy the Canara HSBC Term Insurance policy from Policyx.com or the Canara HSBC Term Insurance website.
Step 1
Fill out the form at the top of this page with the necessary details.
Step 2
Select your income and city. Click on 'Proceed'.
Step 3
Update your education and occupation details.
Step 4
Choose your preferred plan and click on 'Buy this plan'.
Step 5
Select the policy term, premium period, and riders (if required), and then proceed to pay.
Step 1
Go to the official website of Canara HSBC Life Insurance.
Step 2
Select a term plan in the "Life Insurance Plans" section.
Step 3
Fill in details such as your name, gender, date of birth, email, mobile number, etc.
Step 4
Proceed to pay via Net Banking, Debit, or Credit Card.
Step 5
Once the transaction is complete, you'll receive a soft copy of the policy via email.
Why Choose PolicyX.com?
Don't just take our word for it - check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra Singh
I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti varshney
I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha Mary
I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay Shah
PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay Rathod
I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma Mahajan
How to File a Canara HSBC Term Insurance Plans Claim
Canara HSBC term insurance made the claim process using both online and offline methods. To raise a claim in HDFC term insurance plans, the customer needs to follow the below steps:
Online Process
1
Claim Reporting
The nominee has to inform the insurer about life-insured death as soon as possible and submit the filled-out Canara HSBC term insurance claims form with all the required documents attached.
2
Claim Review
Once you submit the claim request, the insurer will verify all the details or documents and reach out to the nominee using the given contact details for further processing.
3
Claim Approval and Settlement
After successful verification, the decision will be communicated to the policyholder/nominee, and the claim will be processed accordingly. As per the IRDAI, your claim will be settled within 30 days of raising the claim.
Offline Process
To file a claim offline with Canara HSBC Life Insurance, you either have to visit its head office or any of its branches. Submit a duly filled claim form along with the required documents to the nearest bank branch, company head office, or any of their offices. The claim department processes the claim once they verify the documents. However, you can easily locate the nearest branch office using the Canara HSBC branch locator.
More Queries?
If you have any more queries regarding Canara HSBC Term Insurance Plans,
Renewals, or Claim Procedures, contact our insurance experts at: 1800-4200-269 now!
Canara HSBC Term Insurance: FAQs
1. What is the claim ratio for the Canara HSBC term plan?
The number of claims settled out of the total number of claims filed is known as the claim settlement ratio. Canara HSBC Life Insurance boasts a Claim Settlement Ratio of 99.01% for FY 2022-23.
2. Does Canara HSBC term plan offer whole-life coverage?
Under Canara HSBC Young Term Plan or ISelect Smart 360 Term Plan, you will get a whole life cover option. With a whole life option, you can stay protected with a life cover for up to 99/100 years.
3. Does Canara Term Plan provide flexibility to select a premium renewal date?
Yes, insurance holders can select their renewal premium date for Canara HSBC Term Plans purchased.
4. Can I buy a Canara HSBC term plan in my 50s or 60s?
Yes, you can buy a Canara HSBC term plan till the age of 65. However, purchasing a term plan after 5 will be difficult because the Canara term plan has an entire age limit of 18 - 65 years.
5. What is the maximum maturity age in Canara HSBC term insurance?
Canara HSBC term plans, including the iSelect Smart360 or Young term plan, allow you to have a term life cover up to the age of 99.
6. Does Canara HSBC term life insurance cover accidental death?
Yes, some Canara HSBC term life insurance plans offer accidental death coverage. You can even add an accidental death benefit rider on your term and get an extra payout on top of the base cover in case of unfortunate death due to an accident.
7. Is the claim of your Canara HSBC term insurance policy considered valid if death occurs outside India?
Yes, Canara HSBC term insurance policy claims are not affected by the place of death.
8. What is Canara HSBC Term Insurance?
Canara HSBC Term Insurance provides affordable protection, flexible terms, lump sum or income payouts, whole life, return of premium, and riders ensuring family security against death.
9. Are riders available with Canara HSBC Term Insurance?
Yes, riders are available with Canara HSBC Term Insurance. Accidental death, disability, premium waiver, income, and terminal illness benefits allow you to customize the cover for loans, education, and family security.
817-1727688016.webp){kind=logo}
499-1727676483.webp){kind=logo}
266-1727438963.webp){kind=logo}
908-1728551768.webp)
2862-1768461875.png)
4573-17437572564599-1745910534.png){kind=logo}
Do you have any thoughts you’d like to share?