Top of main content

Insure Smart Plan

Insure Smart Plan helps you generate wealth by investing in a mix of debt and equity along with providing life cover.

Why choose an Insure Smart Plan?

Canara HSBC Oriental Bank Of Commerce Life Insurance company's Insure Smart Plan is a unit linked endowment insurance plan that helps you generate wealth by investing in a mix of debt and equity along with providing life cover. The product gives you the freedom to invest in the 5 investment funds.

 

A unit linked insurance plan, it helps you save for your specific dreams with the flexibility of paying premiums for 5 years and getting life cover for 10 years.

  • Product Boundary - Your entry age should be between 8 and 70 years. 
  • Investment Funds - You can choose to invest in 5 investment funds with equity exposure ranging from 0% to 100%, depending on your investment philosophy:
     

    •        Equity II fund

    •        Growth plus Fund

    •        Balanced plus Fund

    •        Debt plus Fund

    •        Liquid Fund

Plan UIN Number:

136L019V04

 

Ways to open:

Branch

Features & Benefits

Product Benefits and Flexibilities

Death Benefit: In case of unfortunate death of the life assured, the nominee (the person nominated to receive the benefits under the plan)/ legal heir will receive the higher of the fund value and the sum assured. 

Maturity Benefit: Your policy will mature at the end of 10 years. You will receive the fund value based on the prevailing NAVs at maturity. Moreover, loyalty additions will also be payable.

Partial Withdrawal: You can easily withdraw money from your fund in case of financial emergency through Partial Withdrawal, from the 6th policy year.

Fund Switching & Premium Redirection: You can actively manage your investments by switching from one fund to another and through redirection of premiums.

Change in sum assured: You can increase or decrease your sum assured, depending on your changing needs, from the 6th policy year, provided all due premiums are paid.

Premium Details

Premium Frequency: This plan offers only annual premium payment frequency.

Annual Premium: The minimum annual premium is Rs. 50,000. You will have to pay this premium throughout the premium payment term of 5 years.
There are attractive discounts on premium allocation charge in case you choose to pay renewal premiums through ECS/ Standing Instructions.

Loyalty Addition: You will get a loyalty addition of 1% of your total fund value at maturity.

Key Things You Should Know

This policy will cover you for a term as chosen by you (Options for policy term are: 10, 15, 20 or 25 years). You need to pay annual premiums for a minimum of 10 years or a maximum up to the term of policy.

Please pay your premiums regularly and on time to enjoy life cover benefits. In case premiums are discontinued anytime during the premium payment term, your Life Cover will cease.

The lock in period of this plan is 5 years. Please note that if premium payment is discontinued within first 5 years, the surrender value will only be paid at the end of 5 years.

As this is a Unit linked insurance plan, returns are subject to market performance and therefore not guaranteed.

Premiums paid by you will be invested in your chosen funds after deducting allocation charges. For e.g. allocation charge of 8.4% in year 1. For details on all charges applicable, please refer sales brochure

You must disclose all your health details appropriately in the proposal form to avail life cover benefits in this policy

You should go through the sales brochure to have a complete understanding of the policy you are purchasing

Apply for a HSBC Grow Smart Plan

Want to talk?

Contact us today to have your questions answered

You might be interested in

 

A whole life unit linked insurance plan that provides you the flexibility of choosing your investment and providing protection to your family for the rest of your life.

 

A savings and protection oriented unit linked insurance plan, designed for customers like you.

 

A comprehensive loan protection plan that provides insurance cover to Home Loan and Loan Against Property borrowers.

 

A unit linked endowment insurance plan that provides a long-term investment opportunity, to support you to build a bright future for your child.

Important Information

Terms & Conditions

In this policy, the investment risk in investment portfolio is borne by the policyholder.

The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/ withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth period

Unit Linked Life Insurance products are different from traditional insurance products and are subject to risk factors.

The premium paid in Unit Linked life insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market

Unit Linked Funds are subject to market risks and there is no assurance or guarantee that the objective of the investment fund will be achieved

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is only the name of the insurance company and Canara HSBC Oriental Bank of Commerce Life Insurance Insure Smart Plan is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. 

The various funds offered and fund management options under this contract are the names of the funds and options and do not in any way indicate the quality of these plans, their future prospects and returns

Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured results.

Please know the associated risks and the applicable charges, from your sales representative or the intermediary or policy document issued by the insurance company.

The premium shall be adjusted on the due date even if it has been received in advance.

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

Insurance is the subject matter of the 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, 2 Floor, Sushant Lok, Phase I, Sector- 43, Gurgaon, Haryana – 122009

The Hongkong and Shanghai Banking Corporation Limited, India (IRDAI 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 & C32, First Floor, Connaught Circus, New Delhi-110001)

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.

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