Why choose a Health First Plan?

Health First Plan by Canara HSBC Oriental Bank of Commerce Life Insurance is an individual non-linked, non-par, pure risk premium Health Insurance plan that provides you with a lump sum payout on occurrence of heart ailments, cancer conditions and 26 pre-defined major critical illnesses. It provides you complete freedom to pick and choose the cover you need. The plan also provides multiple customisation options to best suit your requirements. The lump sum paid can help you meet the immediate medical expenses without compromising on your lifestyle.
  • Option to cover yourself against heart ailments, cancer conditions or pre-defined major critical illnesses
  • High coverage at affordable premiums
  • Increasing cover option to take care of increasing medical needs
  • Lump sum payout on the first diagnosis of illness irrespective of actual amount spent on treatment
  • Waiver of all future premiums on first diagnosis of minor conditions included within Cancer and Heart Cover
  • Option of additional monthly income in case of diagnosis of a major heart/major cancer condition or any major critical illness
  • Tax Benefits1 under Section 80C and Section 10(10D), as per the Income Tax Act, 1961 as amended from time to time, may be available

Plan UIN no.:

136N051V02

Ways to open:

Branch

1Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. Please conduct your independent assessment of the applicable tax implications and contact your tax advisor for any tax related queries.

Benefits

The product has the following options to choose from:

  • Major Critical Illness Cover: Get cover against 26 pre-defined major critical illnesses. The benefit is payable irrespective of the actual expenses incurred by you. This product provides a lump sum payout equal to the applicable Sum Assured on first diagnosis of a major critical illness or first performance of any of the listed surgeries in relation to a major critical illness. On the payment of the applicable Sum Assured, coverage will terminate immediately.
  • Heart Cover and Cancer Cover: The benefits payable under Heart or Cancer Cover (as applicable) will be paid as a lump sum upon first diagnosis of any of the illnesses/ first performance of any of the covered surgeries. The payout depends on the severity of the diagnosed condition (major/minor) and claims previously admitted under this Policy. If the Life Assured is diagnosed with Cancer or Heart disease of defined severity, a percentage of the applicable Sum Assured will be paid, as per the below schedule:
Heart Cover and Cancer Cover:
Condition/Cover Cancer Cover Heart Cover
Minor condition 25% of applicable Sum Assured for Cancer Cover
25% of applicable Sum Assured for Heart Cover
Major condition (after occurrence of minor condition claim) 75% of applicable Sum Assured for Cancer Cover
75% of applicable Sum Assured for Heart Cover
Major condition (without occurrence of any minor condition claim) 100% of applicable Sum Assured for Cancer Cover
100% of applicable Sum Assured for Heart Cover
Heart Cover and Cancer Cover:
Condition/Cover Minor condition
Cancer Cover 25% of applicable Sum Assured for Cancer Cover
Heart Cover
25% of applicable Sum Assured for Heart Cover
Condition/Cover Major condition (after occurrence of minor condition claim)
Cancer Cover 75% of applicable Sum Assured for Cancer Cover
Heart Cover
75% of applicable Sum Assured for Heart Cover
Condition/Cover Major condition (without occurrence of any minor condition claim)
Cancer Cover 100% of applicable Sum Assured for Cancer Cover
Heart Cover
100% of applicable Sum Assured for Heart Cover

Only one claim is permissible under each of these conditions (major/minor).

  • Premium waiver benefit: In Heart and Cancer Cover the plan continues even after the first pay out for a minor condition claim is made, without you having to pay any future premiums for the applicable coverage under which the claim is made.
  • Increasing Cover option: You have the option of taking Increasing Cover under all the three plans (Major Critical Illness Cover, Heart Cover, and Cancer Cover) at proposal stage. Under Increasing Cover option, the initial Sum Assured increases by 10% (simple rate) every year starting from the first policy anniversary, until the first claim is made. The Sum Assured can go up to a maximum of 150% of the initial Sum Assured. However, in case of Heart Cover, under Increasing Cover option, the maximum cover is subject to a cap of INR2.5 million.
  • Monthly income benefit option: Get an additional benefit of 1% of initial Sum Assured every month for 5 years (i.e. 60 months) following the date of diagnosis of a Major Heart/Cancer condition/Major Critical Illness (as applicable), to help your family deal with the loss of income. This monthly income payment is over and above the lump sum paid on diagnosis of the illness/ condition, and will continue to be paid to your nominee for the total defined period of 5 years, even in case of your unfortunate death.

About the Plan

Canara HSBC Oriental Bank of Commerce Life Insurance Health First Plan provides you with a lump sum amount on the occurrence of the chosen insured event(s), i.e., Heart, Cancer related conditions and pre-defined 26 major critical illnesses.

Entry age (Minimum to Maximum)
Entry age Minimum Maximum
Entry age 18 years 65 years
Entry age (Minimum to Maximum)
Entry age Entry age
Minimum 18 years
Maximum 65 years
Maturity age (Minimum to Maximum)
Maturity age Minimum Maximum
Maturity age 23 years 80 years
Maturity age (Minimum to Maximum)
Maturity age Maturity age
Minimum 23 years
Maximum 80 years
Sum Assured (Minimum to Maximum)
Sum Assured Minimum Maximum
Sum Assured

Major Critical Illness: INR0.5 million

 

Heart Cover: INR0.5 million

 

Cancer Cover: INR0.5 million

Major Critical Illness - INR5 million

 

Heart Cover- INR4 million

 

Cancer Cover- INR5 million

(Where customer has opted for Increasing Cover option, the Sum Assured can go up to a maximum of 150% of initial Sum Assured, subject to a cap of INR2.5 million for Heart Cover. Please refer the section "Benefits" for details.)

Sum Assured (Minimum to Maximum)
Sum Assured Sum Assured
Minimum

Major Critical Illness: INR0.5 million

 

Heart Cover: INR0.5 million

 

Cancer Cover: INR0.5 million

Maximum

Major Critical Illness - INR5 million

 

Heart Cover- INR4 million

 

Cancer Cover- INR5 million

(Where customer has opted for Increasing Cover option, the Sum Assured can go up to a maximum of 150% of initial Sum Assured, subject to a cap of INR2.5 million for Heart Cover. Please refer the section "Benefits" for details.)

Policy Term (Minimum to Maximum)
Policy Term Minimum Maximum
Policy Term 5 years 40 years, subject to maximum maturity age of 80 years
Policy Term (Minimum to Maximum)
Policy Term Policy Term
Minimum 5 years
Maximum 40 years, subject to maximum maturity age of 80 years
Premium payment term (Maximum)
Premium payment term Maximum
Premium payment term Same as Policy Term
Premium payment term (Maximum)
Premium payment term Premium payment term
Maximum Same as Policy Term
Premium (Maximum)
Premium Maximum
Premium Depending on chosen Sum Assured, and subject to Underwriting
Premium (Maximum)
Premium Premium
Maximum Depending on chosen Sum Assured, and subject to Underwriting
Premium payment mode and modal factors
Premium payment mode and modal factors N/A
Premium payment mode and modal factors

Annual & monthly modes are available

In case of monthly mode, annual premium needs to be multiplied with a factor of 0.09 to arrive at the payable monthly installment premium.

Premium payment mode and modal factors
Premium payment mode and modal factors Premium payment mode and modal factors
N/A

Annual & monthly modes are available

In case of monthly mode, annual premium needs to be multiplied with a factor of 0.09 to arrive at the payable monthly installment premium.

Premium payment mode and modal factors
Survival Period Cover Options
Survival Period Cancer Cover: Benefits under cancer cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions under Cancer Cover. This means that the insured has to survive 7 days from the "full histopathological diagnosis" of the cancer condition, including stage and grading.
Survival Period Heart Cover: Benefits under Heart Cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions/first performance of any of the covered surgeries under Heart Cover.
Survival Period Major Critical Illness Cover: Benefits under Major Critical Illness Cover will be payable only if the Life Insured survives for a period of 15 days from the date of diagnosis of any of the covered illnesses / first performance of any of the covered surgeries.
Premium payment mode and modal factors
Survival Period Survival Period
Cover Options
Cancer Cover: Benefits under cancer cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions under Cancer Cover. This means that the insured has to survive 7 days from the "full histopathological diagnosis" of the cancer condition, including stage and grading.
Survival Period Survival Period
Cover Options
Heart Cover: Benefits under Heart Cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions/first performance of any of the covered surgeries under Heart Cover.
Survival Period Survival Period
Cover Options
Major Critical Illness Cover: Benefits under Major Critical Illness Cover will be payable only if the Life Insured survives for a period of 15 days from the date of diagnosis of any of the covered illnesses / first performance of any of the covered surgeries.

Key things you should know

  • This is a traditional non-linked, non-participating fixed benefit health insurance plan which provides comprehensive coverage for the chosen Policy Term
  • Non-resident customers should buy this product taking into consideration the statutory and regulatory requirements of their respective jurisdictions and shall ensure compliance with the same. By facilitating purchase of this product, The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) makes no representation that the product is suitable for any particular customer or is appropriate in accordance with the legal or regulatory regime of any other country.
  • Please pay your premiums regularly and on time to enjoy continued benefits under the Policy. If you fail to pay your premiums within the grace period of 30 days (15 days for monthly mode) from the due date, then your policy will lapse at the expiry of the grace period and the benefits will cease immediately. 
  • No death benefits are applicable for this Policy.
  • You must disclose all your details (including health details) completely and correctly in the proposal form. 
  • Purchase of insurance product is purely voluntary and is not linked to availing of any other facility from HSBC India.
  • The contract of insurance is between the Insurer and the insured and not between the Bank and the insured.
  • For the key exclusions and to have a complete understanding of the Policy details, please refer to the Health First Plan Brochure and Key Features Document. Please note that the “Return Of Premium Option”, described in the Health First Plan Brochure is not being offered by HSBC India.
  • Acceptance of the application will be subject to underwriting as per Insurer's board approved underwriting policy.

Important Information

Terms and Conditions

  • This product would not be offered to customers having residence in Japan or nationality of Japan.
  • Insurance is the subject matter of solicitation.
  • The Insurance product is offered and underwritten by the insurer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (IRDA Regn. No. 136), 2nd Floor, Orchid Business Park, Sector-48, Sohna Road, Gurugram-122018, Haryana, India.
  • The Hongkong and Shanghai Banking Corporation Limited, India (IRDAI Regn. No. CA0016) whose India corporate 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 and does not underwrite the risk or act as an insurer.
  • You may also reach out to the insurer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited at the contact details given below:
    Website: www.canarahsbclife.com
    Call: 1800-103-0003/1800-180-0003 Mahanagar Telephone Nigam Limited (MTNL) / Bharat Sanchar Nigam Limited (BSNL)
    E-mail: customerservice@canarahsbclife.in
    SMS your query to: 9779030003 to get a call back within 48 hours
  • BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
    IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premium
    Public receiving such phone calls are requested to lodge a police complaint.