Reliance Term
vs
Canara Hsbc

  • Multiple policy tenure to choose from
  • Premiums starting @Rs 15/day
  • 30-day grace period
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Reliance Term vs Canara Hsbc

Reliance Term

Reliance Nippon Term Insurance is one of the largest non-banks-supported private life insurers with over 10 million policyholders and 713 branches.

Canara Hsbc

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

COMPANY DETAILS Edit Reliance Nippon Term Insurance Plans

Reliance Term

 Edit Canara HSBC Term Insurance

Canara Hsbc
Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2023-24)

Annual Premiums Collected (2023-24)

5122.1 Cr

Annual Premiums Collected (2023-24)

25341.91 Cr
Payout Options

Payout Options

Lump sum, monthly, or a combination of both

Payout Options

Lump sum, monthly or a combination of both
Claim ratio

Payout Options

98.6%

Payout Options

99.51%
Solvency Ratio

Solvency Ratio

2.3

Solvency Ratio

1.9
Pan India Presence

Pan India Presence

713+

Pan India Presence

231+
Riders Available

Riders Available

Major Surgical Benefit Rider, Critical Condition Rider, Family Income Benefit Rider, Accidental Disability Rider

Riders Available

Accidental Death Benefit, Accidental Total & Permanent Disability Premium Protection, Accidental Total & Permanent Disability Premium Protection Plus, Critical Illness Premium Protection, Critical Illness Premium Protection Plus, Terminal Illness
Policy Term

Policy Term

5 to 30 years

Policy Term

5 to 40 years

Know More About Companies

Overview

Reliance Term Insurance: Overview

Reliance Nippon a joint venture between Reliance Capital and Nippon Life Insurance, offers a range of insurance products such as savings, investments, retirement, child, ULIPs and term insurance plans. Their term insurance plans have been gaining popularity due to their attractive features such as affordable premiums, flexible policy terms, tax benefits, and more.

What are some of the
Benefits
that set them apart?

  • Early return of premium

  • Income benefit

  • Increasing cover option

  • Life cover plus income plan

  • Affordable premiums

  • Special premiums for women and non-smokers

Riders

Riders You Can Avail With Reliance life term insurance Plans

Name of the Riders Benefits
Reliance Life Major Surgical Benefit Rider Under this rider, the customers get coverage for the 33 different categories of surgeries, which include major surgeries such as open heart, kidney transplant, and lung transplant.
Reliance Life Critical Condition Rider Under this rider, the customer gets a lumpsum payout if diagnosed with any critical illness among the 25 listed diseases.
Reliance Life Family Income Benefit Rider This rider provides regular income to the policyholder until the rider's tenure if the policyholder is diagnosed with any critical illness or permanent disability that affects the policyholder's earning ability for more than 6 months.
Reliance Life Accidental Disability Rider Under this rider, all the future premiums of term plans will be waived off if the policyholder has any disability due to an accident and can't earn for more than six months.

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Canara HSBC Term Insurance

Explore India’s best-selling Term insurance plans below

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

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)

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)

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 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

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.

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