Canara HSBC Saral Jeevan Bima Term Plan & Benefits | PolicyX
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Canara HSBC Saral Jeevan Bima

The Canara HSBC Saral Jeevan Bima is an affordable term plan offering ...Read More

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🛡️ IRDAI Approved
⭐ 4.6/5 · 926 reviews
📊 2.06 solvency ratio
✅ 99.43%% claim settlement ratio
🌐 100+ pan-India
Written by varun saxena
Reviewed by Apeksha Parsai
Published: 1 Oct 2024
Updated: 26 Jul 2026
Expert Verified
IRDAI Licensed

Overview

Canara HSBC Saral Jeevan Bima is an affordable term plan with flexible terms, lump sum cover, and Day 1 accidental death benefit. This plan is designed for buyers looking for simple and low-cost protection. The policy provides coverage from ₹5 lakh to ₹25 lakh with premium discounts for non-smokers and females.

The Saral Jeevan Term Plan by Canara HSBC also offers discounts for non-smokers and females.

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

Key Benefits

  • Accidental Cover
  • Premium Discount for Females
  • Multiple Premium Paying Terms
  • Tax Benefits (as per prevailing laws)
  • Affordable Premiums
  • Life Cover up to 70 Years of Age

Exclusions

  • 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 is not declared.

Eligibility Criteria for Canara HSBC Saral Jeevan Bima

Entry age
Entry age
Minimum Age: 18 years. Maximum Age: 65 years.
Maturity age
Maturity age
Maximum Maturity Age - 70 years
Policy term
Policy term
Minimum Term: 5 years. Maximum Term: 40 years.
Sum assured
Sum assured
Basic Sum Assured: Rs. 5 Lakh to Rs. 25 Lakh
Policy loan
Policy loan
The policy loan is not available under Canara HSBC Saral Jeevan Bima Plan.
Payment Modes
Payment Modes
Yearly, half-yearly & monthly

Pros & cons

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

Pros

  • Available for Online Buying
  • Choose to Pay Premium Once
  • High Sum Assured

Cons

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Video reviews

Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.

Canara HSBC Term Insurance Plans

Canara HSBC Term Insurance Plans

Aaj hum baat karenge Canara HSBC ke term insurance plans ke baare mein. Canara HSBC Life Insurance Company ke plans aur unki features ke baare mein jaan ne ke liye dekhein yeh video. Janiye inke claim settlement ratio, solvency ratio aur premium details.

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Entry Age: 18 Years. Maximum Entry Age: 65 Years. Minimum Sum Assured: 5 Lakh. Maximum Maturity Age: NA. Premium Payment Term: RP/SP/LP (5 & 10 Years).

Conclusion

Canara HSBC Saral Jeevan Bima is a pure protection plan that offers high life cover at cost-effective premiums.

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Frequently Asked Questions

The 6 most-asked questions about Canara HSBC Saral Jeevan Bima, answered.

The minimum age to purchase a Canara HSBC Saral Jeevan Bima Term Plan is 18 years.
A 30-day interest-free grace period is available to repay the premium amount even after the due date.
Yes, you can opt for tax benefits under the premium paid for up to 1.5 lacs under section 80C of Income Tax 1961.
There are annual, semi-annual & monthly premium paying modes under the plan.
The Canara HSBC Saral Jeevan Bima is the best term plan available in the Saral Jeevan Category.
The maximum maturity age available under Canara HSBC Saral Jeevan Bima Term Plan is 70 years.

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