Top of main content

Flexi Edge Plan

A savings-oriented life insurance plan designed for the important financial milestones in your life

Why choose the Flexi Edge plan?

Flexi Edge is designed for the important financial milestones in your life. It provides life insurance coverage to take care of your loved ones in case of an unfortunate event, and it offers multiple plan options to choose from according to your financial needs.

This plan ensures:

  • financial protection for your family

  • a lumpsum benefit at policy maturity to help you reach your financial goals

  • the option to receive income until you turn 100, or a selected term

  • the option to withdraw from accumulated survival benefit anytime

  • bonuses to boost your policy benefits

  • premium protection option to safeguard your goals in case of early demise

Plan UIN: 136N079V01

The official name of the policy is the Canara HSBC Life Insurance Flexi Edge. It is a non-linked participating individual savings-oriented life insurance plan.

What do the different plan options offer?

Provides a lumpsum benefit at the end of your policy term

  • Ideal plan to meet your target savings milestones
  • 125% of guaranteed sum assured on maturity
  • Convenient options to align the policy to your life stages
  • Bonus (if any in the policy) to augment policy benefits
  • Option to choose premium protection benefits
  • You may also be eligible for tax benefits, depending on the prevailing tax laws


How it works

Step 1: Choose how much you want to save. This is your premium.

Step 2: Choose your policy term, premium payment term and premium payment mode.

Step 3: Choose any optional premium protection benefit as per your need.

Step 4: The guaranteed sum assured in these plans will be determined on the basis of your age and the options you choose.

About the plans

- Flexi Saving Flexi Income Flexi Care
Entry age (minimum)
  • Without premium protection benefit: 0
  • With premium protection benefit: 18
  • Without premium protection benefit: 0
  • With premium protection benefit: 18
18
Entry age (maximum)
  • Without premium protection benefit: 60 for annual mode/ 50 for non-annual modes
  • With premium protection benefit: 50 for annual mode/ 40 for non-annual modes
  • Without premium protection benefit: 60 for annual mode/ 50 for non-annual modes
  • With premium protection benefit: 50 for annual mode/ 40 for non-annual modes
18
Maturity age (minimum)
  • Without premium protection benefit: 18
  • With premium protection benefit: 30
  • Without premium protection benefit: 18
  • With premium protection benefit: 30
100
Maturity age (maximum)
  • Without premium protection benefit: 75 for annual mode/ 70 for non-annual modes
  • With premium protection benefit: 70
  • Without premium protection benefit: 75 for annual mode/ 70 for non-annual modes
  • With premium protection benefit: 70
100

About the plans

- Entry age (minimum)
Flexi Saving
  • Without premium protection benefit: 0
  • With premium protection benefit: 18
Flexi Income
  • Without premium protection benefit: 0
  • With premium protection benefit: 18
Flexi Care 18
- Entry age (maximum)
Flexi Saving
  • Without premium protection benefit: 60 for annual mode/ 50 for non-annual modes
  • With premium protection benefit: 50 for annual mode/ 40 for non-annual modes
Flexi Income
  • Without premium protection benefit: 60 for annual mode/ 50 for non-annual modes
  • With premium protection benefit: 50 for annual mode/ 40 for non-annual modes
Flexi Care 18
- Maturity age (minimum)
Flexi Saving
  • Without premium protection benefit: 18
  • With premium protection benefit: 30
Flexi Income
  • Without premium protection benefit: 18
  • With premium protection benefit: 30
Flexi Care 100
- Maturity age (maximum)
Flexi Saving
  • Without premium protection benefit: 75 for annual mode/ 70 for non-annual modes
  • With premium protection benefit: 70
Flexi Income
  • Without premium protection benefit: 75 for annual mode/ 70 for non-annual modes
  • With premium protection benefit: 70
Flexi Care 100

Premium amounts

Premium payment mode Minimum Maximum
Yearly INR24,000  per year No limit
Half-Yearly INR18,360 per half year No limit
Quarterly INR9,360 per quarter No limit
Monthly INR3,240 per month No limit

Premium amounts

Premium payment mode Yearly
Minimum INR24,000  per year
Maximum No limit
Premium payment mode Half-Yearly
Minimum INR18,360 per half year
Maximum No limit
Premium payment mode Quarterly
Minimum INR9,360 per quarter
Maximum No limit
Premium payment mode Monthly
Minimum INR3,240 per month
Maximum No limit

These minimum installment premiums are exclusive of GST and any applicable cesses) or levies.

  • Sum assured: Your sum assured is determined by multiplying the annualised premium by the sum assured factor.

  • Premium payment modes: Premiums can be paid in yearly, half-yearly, quarterly, monthly and single modes.

Premium payment terms and policy terms:

Plan option Premium payment term in years Policy term in years
Flexi Savings and Flexi Income 7 12 to 40
Flexi Savings and Flexi Income 8 12 to 40
Flexi Savings and Flexi Income 9 12 to 40
Flexi Savings and Flexi Income 10 12 to 40
Flexi Savings and Flexi Income 11 12 to 40
Flexi Savings and Flexi Income 12 12 to 40
Flexi Care 10-20 100 (entry age)

Premium payment terms and policy terms:

Plan option Flexi Savings and Flexi Income
Premium payment term in years 7
Policy term in years 12 to 40
Plan option Flexi Savings and Flexi Income
Premium payment term in years 8
Policy term in years 12 to 40
Plan option Flexi Savings and Flexi Income
Premium payment term in years 9
Policy term in years 12 to 40
Plan option Flexi Savings and Flexi Income
Premium payment term in years 10
Policy term in years 12 to 40
Plan option Flexi Savings and Flexi Income
Premium payment term in years 11
Policy term in years 12 to 40
Plan option Flexi Savings and Flexi Income
Premium payment term in years 12
Policy term in years 12 to 40
Plan option Flexi Care
Premium payment term in years 10-20
Policy term in years 100 (entry age)

Benefits

- Flexi Saving Flexi Income Flexi Care
Death benefit

Higher of:

  • Sum assured on death plus any accrued annual bonuses, plus any interim annual bonus, plus any final bonus
  • 105% of the total premiums paid till the date of death


If the premium protection benefit has been chosen, the death benefit payable will be higher of:

  1. Sum assured on death
  2. 105% of the total premiums paid till the date of death


Also, all future premiums payable thereafter will be waived off and the policy continues till the end of the policy term with all future benefits intact.


Sum assured on death is the amount that is higher of:

  1. Guaranteed sum assured or
  2. 11 times the annualized premium

Higher of:

  1. Sum assured on death plus any accrued annual bonuses, plus any interim annual bonus, plus any interim cash bonus, plus any final bonus
  2. 105% of the total premiums paid till the date of death

In addition, any balance under the deferred survival benefit facility shall be payable.


If premium protection benefit has been chosen, the death benefit payable shall be higher of:

  1. Sum assured on death
  2. 105% of the total premiums paid till the date of death


Also, all future premiums payable thereafter will be waived off and the policy continues till the end of the policy term with all future benefits intact. As well, any balance under the deferred survival benefit facility shall be payable.


Sum assured on death is the amount that is higher of:

  1. Guaranteed sum assured or
  2. 11 times the annualized premium

Before milestone age: the death benefit payable shall be higher of;

  1. Sum assured on death plus accrued guaranteed additions plus any interim cash bonus, plus any final bonus
  2. 105% of the total premiums paid till the date of death


After the milestone age is reached: the death benefit payable shall be higher of:

  1. Sum assured on death plus any interim cash bonus, plus any final bonus
  2. 105% of the total premiums paid till the date of death


In addition, any balance under the deferred survival benefit facility shall be payable.


Sum assured on death is the amount that is higher of:

  1. Guaranteed sum assured or
  2. 11 times the annualized premium
Survival benefit -
  • At the end of the premium payment term: 50% of guaranteed sum assured as lumpsum
  • Each year after end of premium payment term: Guaranteed income plus any cash bonus at the end of each policy year
  • After end of 1st policy year: any cash bonus every year till you turn 100
  • When milestone age is reached: Accrued guaranteed additions in lumpsum

"Milestone age" is  either:

  • your age at your 15th policy anniversary; or
  • the policy anniversary when you are age 55;

whichever age is higher.

Maturity benefit Guaranteed sum assured plus guaranteed loyalty addition (i.e. 25% of guaranteed sum assured) plus any accrued annual bonuses, plus any final bonus. Guaranteed sum assured, plus any accrued annual bonuses, plus any final bonus, plus any balance under the deferred survival benefit facilit. Guaranteed sum assured plus any final bonus, plus any balance in cash deposit.

Benefits

- Death benefit
Flexi Saving

Higher of:

  • Sum assured on death plus any accrued annual bonuses, plus any interim annual bonus, plus any final bonus
  • 105% of the total premiums paid till the date of death


If the premium protection benefit has been chosen, the death benefit payable will be higher of:

  1. Sum assured on death
  2. 105% of the total premiums paid till the date of death


Also, all future premiums payable thereafter will be waived off and the policy continues till the end of the policy term with all future benefits intact.


Sum assured on death is the amount that is higher of:

  1. Guaranteed sum assured or
  2. 11 times the annualized premium
Flexi Income

Higher of:

  1. Sum assured on death plus any accrued annual bonuses, plus any interim annual bonus, plus any interim cash bonus, plus any final bonus
  2. 105% of the total premiums paid till the date of death

In addition, any balance under the deferred survival benefit facility shall be payable.


If premium protection benefit has been chosen, the death benefit payable shall be higher of:

  1. Sum assured on death
  2. 105% of the total premiums paid till the date of death


Also, all future premiums payable thereafter will be waived off and the policy continues till the end of the policy term with all future benefits intact. As well, any balance under the deferred survival benefit facility shall be payable.


Sum assured on death is the amount that is higher of:

  1. Guaranteed sum assured or
  2. 11 times the annualized premium
Flexi Care

Before milestone age: the death benefit payable shall be higher of;

  1. Sum assured on death plus accrued guaranteed additions plus any interim cash bonus, plus any final bonus
  2. 105% of the total premiums paid till the date of death


After the milestone age is reached: the death benefit payable shall be higher of:

  1. Sum assured on death plus any interim cash bonus, plus any final bonus
  2. 105% of the total premiums paid till the date of death


In addition, any balance under the deferred survival benefit facility shall be payable.


Sum assured on death is the amount that is higher of:

  1. Guaranteed sum assured or
  2. 11 times the annualized premium
- Survival benefit
Flexi Saving -
Flexi Income
  • At the end of the premium payment term: 50% of guaranteed sum assured as lumpsum
  • Each year after end of premium payment term: Guaranteed income plus any cash bonus at the end of each policy year
Flexi Care
  • After end of 1st policy year: any cash bonus every year till you turn 100
  • When milestone age is reached: Accrued guaranteed additions in lumpsum

"Milestone age" is  either:

  • your age at your 15th policy anniversary; or
  • the policy anniversary when you are age 55;

whichever age is higher.

- Maturity benefit
Flexi Saving Guaranteed sum assured plus guaranteed loyalty addition (i.e. 25% of guaranteed sum assured) plus any accrued annual bonuses, plus any final bonus.
Flexi Income Guaranteed sum assured, plus any accrued annual bonuses, plus any final bonus, plus any balance under the deferred survival benefit facilit.
Flexi Care Guaranteed sum assured plus any final bonus, plus any balance in cash deposit.

Key things you should know

  1. Canara HSBC Life Insurance Flexi Edge is a non-linked, participating individual savings life insurance plan
  2. It provides life cover for the entire term while you pay premium only for a limited period
  3. Deferred Survival Benefit Facility is available under Flexi Income and Flexi Care plan options. The customer can choose to not avail the survival benefits and put the money under Deferred Survival Benefit facility. This option can be chosen at policy inception and the customer can opt in or out of this service at any time during the policy term.
  4. Maturity Benefit is payable on maturity, provided all due premiums have been paid
  5. Better Value for Higher Premium – High Premium Booster that provides marginally better benefits for making a higher premium commitment
  6. Tax Benefits as per the Income Tax Act, 1961 as amended from time to time, may be available. For tax related queries, contact your independent tax advisor
  7. There is a risk of capital loss if policy is surrendered before completion of full policy term
  8. Guaranteed benefits may not yield positive inflation adjusted returns in case the inflation rate is higher than expected
  9. Non-resident customers should take into consideration the statutory and regulatory requirements of their respective jurisdictions and shall ensure compliance with the same before buying this product. By facilitating purchase of this product, HSBC India makes no representation that the product is suitable for any particular customer or is appropriate in accordance with any applicable local laws, rules or regulations
  10. This product is offered to existing HSBC India customers only
  11. You must disclose all your health details appropriately in the proposal form to avail life cover benefits in this Policy
  12. Purchase of insurance product is purely voluntary and is not linked to availing of any other facility from the bank
  13. You should go through the entire product brochure document to have a complete understanding of the policy you are purchasing
  14. Please note that basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST, State/Union Territory GST, or Inter-State GST, as applicable, and Cess as applicable would apply on the fees and charges

Terms & Conditions

  1. This product would not be offered to customers having residence in Japan/US or nationality of Japan/US
  2. Insurance is the subject matter of the solicitation.
  3. The Insurance product is offered and underwritten by the insurer Canara HSBC Life Insurance Company Limited (IRDA Regn. No. 136) having its head office at 139 P, Sector 44, Gurugram – 122003, Haryana, India. (Insurer)
  4. The Hongkong and Shanghai Banking Corporation Limited, India (IRDAI Regn. No. CA0016) (HSBC India) whose India corporate office is at 52/60, M. G. Road, Fort, Mumbai 400 001, is the Corporate Agent of Canara HSBC Life Insurance Company Limited and does not underwrite the risk or act as an Insurer.
  5. The contract of insurance is between the Insurer and the insured and not between HSBC India and the insured.
  6. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale:

Website: canarahsbclife.com

Call: 1800-103-0003/1800-180-0003/1800-891-0003

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 premiums. Public receiving such phone calls are requested to lodge a police complaint
Here's an easy way to share your thoughts, stay informed and join the conversation. Follow us: