Canara HSBC Promise2Protect

Promise2Protect by Canara HSBC Life Insurance is a pure protection plan that off ...Read More

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Himanshu Kumar
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Himanshu

Himanshu Kumar

Term & Life Insurance

Himanshu is a content marketer with 2 years of experience in the life insurance sector. His motto is to make life insurance topics simple and easy to understand yet one level deeper for our readers.

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Reviewed By:
Anchita Bhattacharyya

Anchita Bhattacharyya

Health, Term & Life Insurance

Anchita has over 6 years of experience in content marketing, insurance, and healthcare sectors. Her motto to make health and term insurance simple for our readers has proven to make insurance lingos simple and easy to understand by our readers.

Updated on Jul 28, 2025 5 min read

Canara HSBC Promise2Protect

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. This plan safeguards your loved ones financially in case of your unfortunate demise during the policy tenure. You have the option to cover you and your spouse under the same plan with the spouse coverage option. With two coverage options- level cover and increasing cover, this plan is an ideal choice for anyone looking for a comprehensive term plan.

Canara HSBC Promise2Protect offers a range of benefits including:

why-choose
  • Special Exit Value
  • Return of Premium Option
  • Choice of Death Benefits
  • Spouse Coverage Option
  • Option to Increase Sum Assured
  • 2 Plan Options to Choose From

Eligibility Criteria for Canara HSBC Promise2Protect

Your Occupation

Entry age

Minimum age- 18 years, Maximum age- 60 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum maturity age- 80 years

Your Gender

Policy term

Minimum policy term- 5 years, Maximum policy term- (80- Entry age)

Maternity Benefit Rider

Sum assured

Base sum assured- Rs 15 lakhs to No limit

Dr YSR Aarogyasri Trust

Policy loan

Policy loan is not available with this plan

Maternity Benefit Rider

Payment modes

Yearly, half-yearly, quarterly, and monthly

Plan Options Available With Canara HSBC Promise2Protect

Promise2Protect plan offers policyholders to choose from two plan options. 

Plan Options Benefits
Life Secure This variant provides applicable death benefits in case of the policyholder/spouse's death during the policy tenure and the policy will lapse with effect. No maturity benefits are linked with this plan option.
Life Secure with Return of Premium Under this plan variant, the sum assured applicable will be paid in case of the policyholder’s uncertain death during the policy tenure. In case the policyholder survives the policy tenure, they will receive their premiums back.

How Does Canara HSBC Promise2Protect Work?

Let's understand how the Canara HSBC Promise2Protect Plan works with a simple premium illustration.

Why Buy Term Insurance Online?

Problem

Mr Patel is looking for a term plan that offers comprehensive coverage to his loved ones along with an option to avail of a special exit value on policy surrender.

Solution

He booked a free appointment with one of PolicyX’s expert insurance advisors. The expert suggested buying the Canara HSBC Promise 2 Protect plan.

Mr Patel bought the Promise2Protect plan from PolicyX.com. Let’s understand how this plan works for him.

Plan Option Age of Policyholder Annual Premiums Policy Tenure Premium Payment Term Total Premiums Paid Sum Assured
Life Secure 30 years Rs 28,162 40 years 10 years Rs 2,81,620 Rs 1 crore
Life Secure with Return of Premium Rs 36,995 Rs 3,69,950

Key Takeaways:

(i) Life Secure: In case of Mr Patel’s demise during the policy tenure, his family would receive benefits worth Rs 1 crore and his policy would lapse. If he survives the policy tenure the policy would lapse on maturity without paying any benefits.

(ii) Life Secure with Return of Premium: In case of Mr Patel’s demise during the policy tenure, his family would receive benefits worth Rs 1 crore and his policy would lapse. If he survives the policy tenure, all the paid premiums will be returned.

Benefits of Canara HSBC Promise2Protect

Here are the benefits associated with the Canara HSBC Promise2Protect

Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Features of Canara HSBC Promise2Protect

Special Exit Value

Life Secure plan variant offers policyholders with special exit value in case they wish to surrender their policy during the policy tenure. 

Choice of Death Benefits

You have the option to choose how your nominee will receive the death benefits. There are three options available- lump sum, income, or both.

Two Coverage Options

This plan allows you to choose from two coverage options: level cover (sum assured remains the same) and increasing cover (sum assured increases).

Policy Revival

The policyholders have the option to revive their lapsed policy within the first five years of the last unpaid premium.


Exclusions of Canara HSBC Promise2Protect

Here is the list of exclusions associated with the plan:

  • Suicidal Exclusion: In case the policyholder commits suicide within the first 12 months of policy purchase then no death benefits are paid to their family. The higher of 80% of the premiums paid to date or the surrender value is paid to them.

Conclusion

Promise2Protect is a comprehensive term life insurance plan that offers policyholders to choose from two plan options- Life Secure and Life Secure with ROP. You can avail a lot of benefits with this plan including increasing sum assured, spouse coverage, special exit value, return of premiums, etc. This plan is an ideal option for anyone looking to safeguard their family financially in the event of their uncertain death.

If you are still confused about whether Canara HSBC Promise2Protect is an ideal choice for you or not, you can contact us at PolicyX.com. 
We offer No Spam, No Gimmicks, and Only Expert Insurance Advice.

Explore more about Canara HSBC Term Insurance

Canara HSBC Premium Calculator

Canara HSBC Premium Calculator

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.

Canara HSBC Promise2Protect

Canara HSBC Promise2Protect

Promise2Protect by Canara HSBC Life Insurance is a pure protection plan that offers policyholders to choose from two plan options: Life Secure and Lif...

Unique Features

  • Increasing Coverage Option
  • 2 Plan Options
  • Spouse Coverage

Canara HSBC Promise2Protect (Pros)

Canara HSBC Promise2Protect
  • Choice of Death Benefits
  • Spouse Coverage Option
  • Option to Increase Sum Assured

Canara HSBC Promise2Protect (Cons)

Canara HSBC Promise2Protect
  • 1 year WP for suicide
  • No policy loan
  • No pre-existing illness cover

Canara HSBC Promise2Protect (Other Benefits)

Canara HSBC Promise2Protect
  • Special Exit Value
  • Death Benefits
  • Maturity Benefits

Canara HSBC Promise2Protect (Eligibility Criteria)

Canara HSBC Promise2Protect
  • Entry age - 18 years
  • Max entry age - 60 years
  • Min sum assured - Rs 15 lakhs
  • Max maturity age - 80 years
  • PPT - RP/SP/LP

Canara HSBC Saral Jeevan Bima

Canara HSBC Saral Jeevan Bima

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...

Unique Features

  • Get Accidental Cover
  • Premium Discount for Female
  • Multiple Premium Paying Term

Canara HSBC Saral Jeevan Bima (Pros)

Canara HSBC Saral Jeevan Bima
  • Available for Online Buying
  • Choose to Pay Premium Once
  • High Sum Assured

Canara HSBC Saral Jeevan Bima (Cons)

Canara HSBC Saral Jeevan Bima
  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Canara HSBC Saral Jeevan Bima (Other Benefits)

Canara HSBC Saral Jeevan Bima
  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Canara HSBC Saral Jeevan Bima (Eligibility Criteria)

Canara HSBC Saral Jeevan Bima
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Canara HSBC Young Term Plan

Canara HSBC Young Term Plan

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)

Canara HSBC Young Term Plan
  • 2 Plan Options & Spouse Cover
  • Accidental Death Benefit
  • Accidental Total & Permanent Disability

Canara HSBC Young Term Plan (Cons)

Canara HSBC Young Term Plan
  • No Policy Loan Allowed
  • No Pre-Existing Diseases Cover
  • No Benefit on Revival

Canara HSBC Young Term Plan (Other Benefits)

Canara HSBC Young Term Plan
  • Critical & Terminal Illness
  • Option To Block Your Premium
  • 5% Loyalty Discount

Canara HSBC Young Term Plan (Eligibility Criteria)

Canara HSBC Young Term Plan
  • Entry Age -18 Years
  • Max Entry Age- 45 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 99 Yrs
  • Premium Payment Term - RP/SP/LP(5 To 15 Yrs)

iSelect Smart 360 Term

iSelect Smart 360 Term

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)

iSelect Smart 360 Term
  • 3 Plan Options & Spouse Cover
  • Accidental Death Benefit
  • Accidental Total & Permanent Disability

iSelect Smart 360 Term (Cons)

iSelect Smart 360 Term
  • No Policy Loan Allowed
  • No Maturity Benefit
  • No Benefit On Revival

iSelect Smart 360 Term (Other Benefits)

iSelect Smart 360 Term
  • Critical & Terminal Illness
  • Option To Block Your Premium
  • 5% Loyalty Discount

iSelect Smart 360 Term (Eligibility Criteria)

iSelect Smart 360 Term
  • 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)

FAQs: Canara HSBC Promise2Protect

1. What is the Promise2Protect plan?

Promise2Protect is a term insurance policy offered by Canara HSBC Life Insurance that offers financial coverage to your loved ones in exchange for premiums.

2. Is Canara HSBC good or bad?

Canara HSBC Life is a good life insurance company with excellent reviews and customer testimonials.

3. What is the claim settlement ratio of Canara HSBC?

The claim settlement ratio of Canara HSBC as per the IRDAI report 2023-24 is 99.23%.

4. What are the plan options you can avail of with the Promise2Protect plan?

There are two plan options available with the Promise2Protect plan including Life Secure and Life Secure with ROP.

5. What is the minimum age to buy Canara HSBC Promise2Protect?

The minimum age for buying the Promise2Protect plan is 18 years.

6. Can I cancel my Canara HSBC Life Insurance policy?

Yes, you can cancel your Canara HSBC policy during the free-look period.

7. What tax benefits are available with this plan?

There are various benefits available with this plan, including death benefits, affordable premiums, etc.

8. Are medical examinations required for this plan?

Yes, medical examinations are required for this plan.

9. Can I increase my Sum Assured multiple times under Promise2Protect?

Yes, you can increase your sum assured multiple times under Promise2Protect plan.

10. What are the main differences between Life Secure and Life Secure with Return of Premium?

The primary difference between Life Secure and Life Secure with Return of Premium (ROP) lies in the maturity benefit.

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.

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