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Group Secure plan

Group Secure plan is a comprehensive loan protection plan that provides insurance cover to Home Loan and Loan Against Property borrowers.

Why choose a Group Secure Plan?

The Canara HSBC Oriental Bank of Commerce Life Insurance Group Secure plan is a comprehensive loan protection plan that provides insurance cover to Home Loan and Loan Against Property borrowers. The plan not only helps you meet your Home Loan commitments but also assures that your family continues to enjoy the assets you have gathered for them in case of any eventuality.

 

With its limited premium payment term of just 5 years, you can easily pay your premiums in small amounts while guaranteeing your family a home for a lifetime.

Plan Unique Identification Number (UIN):

136N024V04

Ways to open:

Branch

Product Boundary

Product Boundary for the Group Secure Plan

Parameter

Minimum

Maximum

Entry Age1

18 years

64 years

Maturity Age2

23 years

69 years

Sum Assured

₹10,000

Death cover only: No maximum limit (Subject to underwriting).
Death + TPD cover: ₹10,000,000

Cover Term

5 years

30 years

Premium Payment Term

5 years

-
Product Boundary for the Group Secure Plan

Parameter

Entry Age1

Minimum

18 years

Maximum

64 years

Parameter

Maturity Age2

Minimum

23 years

Maximum

69 years

Parameter

Sum Assured

Minimum

₹10,000

Maximum

Death cover only: No maximum limit (Subject to underwriting).
Death + TPD cover: ₹10,000,000

Parameter

Cover Term

Minimum

5 years

Maximum

30 years

Parameter

Premium Payment Term

Minimum

5 years

Maximum

-

Key Things You Should Know

End use - Sum Assured can be used to pay off your outstanding loan in the event of unexpected death or total permanent disability (if opted for) and balance amount (if any) can be used by family

Options - It provides two coverage options as per your choice; Death cover only or Death and Total Permanent Disability cover

Premium - Pay premiums yearly or through affordable monthly instalments for 5 years

Medicals - No medicals are required for up to a Sum Assured of ₹60 lakhs depending on your current age

Applicants - Coverage for joint borrowers: Up to 3 applicants/borrowers can be covered under a single loan account. Each borrower can be covered for the entire Sum Assured, or each borrower can be covered for his/her share of the loan.

Rebates - Get special rebates on female lives and joint borrower coverage

Surrender - You have the option to continue the cover or to take surrender value on early closure of the loan

Decreasing cover - Sum Assured decreases through the cover term but so does your loan liabilities

Apply for a HSBC Group Secure Plan

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Important Information

Terms & Conditions

1 Age is as per birthday.

2 If (Maximum maturity age - age at entry of borrower) < Loan Term, such borrower cannot be enrolled under the plan.

Insurance is the subject matter of solicitation.

The Insurance products are offered and underwritten by Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (IRDA Regn. No. 136) Unitech Trade Centre, 2nd Floor, C-Block, Sushant Lok, Phase I, Sector-43, Gurgaon, Haryana - 122 009.

The Hongkong and Shanghai Banking Corporation Limited, India (HSBC/Bank) (Insurance Regulatory and Development Authority of India Regn. no. CA0016) whose registered office is at 52/60, M. G. Road, Fort, Mumbai 400 001, is the Corporate Agent of Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited having its registered office at C31 and C32, First Floor, Connaught Circus, New Delhi - 110 001.

The contract of Insurance is between the insurer and the insured and not between the Bank and the insured.

The Hongkong and Shanghai Banking Corporation Limited, India does not underwrite the risk or act as an insurer.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

Website: www.canarahsbclife.com. Call: 1800-103-0003/1800-180-0003. SMS: 9779030003.

Missed Call: 0124-6156600. E-mail: customerservice@canarahsbclife.in

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDA clarifies to public that:

IRDA or its officials do not involve in activities like sale of any kind of Insurance or financial products nor invest premiums.

IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of the phone call and number.

In case you are interested in availing of a policy, please read the details of our Wealth Management offering under the 'Wealth Management' section of our website.