Canara HSBC Saral Jeevan Bima
  • Get Accidental Cover
  • Premium Discount for Female
  • Multiple Premium Paying Term
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Canara HSBC Saral Jeevan Bima Plan

Canara HSBC Saral Jeevan Bima is a simple, easy to understand term insurance plan that comes with benefits like easy on pocket premiums, flexibility to choose your own policy term and premium payment term. It gives a lump sum payment to your nominee in the event of your demise.Canara HSBC Saral Jeevan Bima covers accidental death from day 1 of the policy inception. Which means that this plan offers death benefit if something happens to you due to an accident during the waiting period of 45 days.Apart from this, the minimum sum assured that you can choose is 5 lakhs and the maximum that you can choose is 25 lakhs. The Saral Jeevan Term Plan by Canara HSBC also offers discounts for non-smokers and females.

Canara HSBC Saral Jeevan Bima Plan offers you a range of benefits including:

why-choose
  • Get Accidental Cover
  • Premium Discount for Female
  • Multiple Premium Paying Term
  • Tax Benefits as per laws
  • Affordable Premiums
  • Get life cover till 70 years of age

Eligibility Criteria for Canara HSBC Saral Jeevan Bima

Your Occupation

Entry age

Minimum Age - 18 years Maximum Age - 65 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 70 years

Your Gender

Policy term

Minimum term - 5 years Maximum term - 40 years

Maternity Benefit Rider

Sum assured

Basic Sum Assured: Rs. 5 Lakhs to Rs. 25 Lakhs

Dr YSR Aarogyasri Trust

Policy loan

The policy loan is not available under Canara HSBC Saral Jeevan Bima Plan.

Maternity Benefit Rider

Payment modes

Yearly, half-yearly & monthly

How Does Canara HSBC Saral Jeevan Bima Plan Work?

Let's understand how the Canara HSBC Saral Jeevan Bima plan works with a simple premium illustration.

Why Buy Term Insurance Online?

Problem

Mr. Gurjeet is a 30-year-old non-smoker earning 10 lakhs annually and looking for a simple term plan that provides high life cover at affordable premiums.

Solution

His financial advisor advised him to buy the Canara HSBC Saral Jeevan Bima Plan Work. He visited PolicyX.com.

Let's understand how the Canara HSBC Saral Jeevan Bima plan works for him with a premium illustration table.

Age of policyholder Monthly Premiums Annual Premiums Policy Tenure Total premiums paid Sum assured
30 years ₹586/month ₹7,032/year 30 years ₹2,10,960 ₹25 Lakhs

Key Takeaways: If Mr. Gurjeet dies during the policy tenure, his family will receive ₹25 Lakhs as a death benefit from the insurer.

Benefits of Canara HSBC Saral Jeevan Bima

Here are the benefits associated with the Canara HSBC Saral Jeevan Bima

Maternity Benefit Rider

Death Benefit

Upon the unfortunate demise of the life insured during the policy term, the Canara HSBC Saral Jeevan bima term plan offers the death benefit amount as a lump sum to their nominee.

Maternity Benefit Rider

Accidental Death Cover

This Policy will cover death due to accident only during the Waiting Period of 45 days from the commencement date of risk.

Maternity Benefit Rider

Tax Benefit

Canara HSBC Saral Jeevan Bima offers a tax rebate of up to 1.5 lac, under section 80C of the Income Tax Act 1961, for the premium paid under the same financial year.

Riders Associated with Canara HSBC iSelect Smart 360 Term Plan

You can add the following riders to your Canara HSBC iSelect Smart 360 Term Plan:

Accidental Death Benefit

Get an extra payout on top of base cover 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.

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.

Terminal Illness Benefit

If you are diagnosed with any covered terminal illness, lump sum benefit up to a maximum of Rs. 2 Crores shall be payable while you're alive.

Features of Canara HSBC Saral Jeevan Bima

Flexible Premium Paying Term

The plan offers flexible premium options such as regular, limited, or single premium, so that you can make payments according to your convenience.

High Sum Assured Rebate

Get an additional discount on premium for a high sum assured amount.

Discounts on Female Lives

The plan offers special premium rates for women policyholders.

Lump Sum Death Benefit

Upon the unfortunate demise of the life insured during the policy term, a lump sum death benefit will be payable to the nominee.

Exclusions of Canara HSBC Saral Jeevan Bima Plan

Here is the list of exclusions associated with the plan:

  • Suicide within 12 months of the policy purchase is not covered.
  • Consumption of any intoxicants.
  • Injuries or illnesses caused due to any type of adventure sports.
  • Death due to any aviation accident.
  • Any pre-existing disease that isn't mentioned.

Conclusion

Canara HSBC Saral Jeevan Bima is a pure protection plan that offers high life cover at cost-effective premiums. On the policyholder's unfortunate demise during the policy term, the lump sum death benefit shall be payable to their nominee. If you have doubts or queries regarding the Canara HSBC Saral Jeevan Bima Term Pla, you can contact us through the website policyx.com or at 1800-4200-269.

Explore more about Canara HSBC Term Insurance

Canara HSBC Term Insurance Plan

Take a look at the different term plans offered by Canara HSBC Term Insurance. For your understanding, we have mentioned Canara HSBC Term Insurance plans along with some of their unique features.

Canara HSBC iSelect Smart 360 Term Plan Canara HSBC iSelect Smart 360 is a comprehensive protection plan that allows you to stay protected with a life...

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)

Canara HSBC Young Term Plan Canara HSBC Young Term Plan is an online available pure protection term insurance plan. It offers two plan options, allowi...

Unique Features

  • Life Stage Benefit
  • Special Exit Value
  • Child Care Benefit

Young Term Plan (Pros)

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

Young Term Plan (Cons)

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

Young Term Plan (Other Benefits)

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

Young Term Plan (Eligibility Criteria)

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)

Canara HSBC Saral Jeevan Bima Plan Canara HSBC Saral Jeevan Bima is a simple, easy to understand term insurance plan that comes with benefits like eas...

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 Saral Jeevan Bima: FAQs

1. What is the minimum eligibility age for purchasing a Canara HSBC Saral Jeevan Bima Term Plan?

The minimum age to purchase a Canara HSBC Saral Jeevan Bima Term Plan is 18 years.

2. How much grace period is available in the Canara HSBC Saral Jeevan Bima Term Plan?

A 30-day interest-free grace period is available to repay the premium amount even after the due date.

3. Can I opt for tax benefits for the premium paid for the Canara HSBC Saral Jeevan Bima Term Plan?

Yes, you can opt for tax benefits under the premium paid for up to 1.5 lacs under section 80C of Income Tax 1961.

4. How many premium paying modes are available in the Canara HSBC Saral Jeevan Bima Term Plan?

There are annual, semi-annual & monthly premium paying modes under the plan.

5. What is the best term plan in the Saral Jeevan category?

The Canara HSBC Saral Jeevan Bima is the best term plan available in the Saral Jeevan Category.

6. What is the maximum maturity age available under the Canara HSBC Saral Jeevan Bima Term Plan?

The maximum maturity age available under Canara HSBC Saral Jeevan Bima Term Plan is 70 years.

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Varun Saxena

Written By: Varun Saxena

Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.