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 Number:
136N079V01
Ways to open:
Branch, Online
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?
| - | Flexi Saving | Flexi Income | Flexi Care |
|---|---|---|---|
| Entry age (minimum) |
|
|
18 |
| Entry age (maximum) |
|
|
18 |
| Maturity age (minimum) |
|
|
100 |
| Maturity age (maximum) |
|
|
100 |
| - | Entry age (minimum) |
|---|---|
| Flexi Saving |
|
| Flexi Income |
|
| Flexi Care | 18 |
| - | Entry age (maximum) |
| Flexi Saving |
|
| Flexi Income |
|
| Flexi Care | 18 |
| - | Maturity age (minimum) |
| Flexi Saving |
|
| Flexi Income |
|
| Flexi Care | 100 |
| - | Maturity age (maximum) |
| Flexi Saving |
|
| Flexi Income |
|
| Flexi Care | 100 |
| 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 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.
| 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) |
| 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) |
| - | Flexi Saving | Flexi Income | Flexi Care |
|---|---|---|---|
| Death benefit | Higher of:
|
Higher of:
In addition, any balance under the deferred survival benefit facility shall be payable.
|
Before milestone age: the death benefit payable shall be higher of;
|
| Survival benefit | - |
|
"Milestone age" is either:
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. |
| - | Death benefit |
|---|---|
| Flexi Saving |
Higher of:
|
| Flexi Income |
Higher of:
In addition, any balance under the deferred survival benefit facility shall be payable.
|
| Flexi Care |
Before milestone age: the death benefit payable shall be higher of;
|
| - | Survival benefit |
| Flexi Saving | - |
| Flexi Income |
|
| Flexi Care |
"Milestone age" is either:
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
- Canara HSBC Life Insurance Flexi Edge is a non-linked, participating individual savings life insurance plan
- It provides life cover for the entire term while you pay premium only for a limited period
- 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.
- Maturity Benefit is payable on maturity, provided all due premiums have been paid
- Better Value for Higher Premium – High Premium Booster that provides marginally better benefits for making a higher premium commitment
- 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
- There is a risk of capital loss if policy is surrendered before completion of full policy term
- Guaranteed benefits may not yield positive inflation adjusted returns in case the inflation rate is higher than expected
- 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
- This product is offered to existing HSBC India customers only
- You must disclose all your health details appropriately in the proposal form to avail life cover benefits in this Policy
- Purchase of insurance product is purely voluntary and is not linked to availing of any other facility from the bank
- You should go through the entire product brochure document to have a complete understanding of the policy you are purchasing
- 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
Apply for Flexi Edge Plan
Terms & Conditions
- This product would not be offered to customers having residence in Japan/US or nationality of Japan/US
- Insurance is the subject matter of the solicitation.
- The Insurance product is offered and underwritten by the insurer Canara HSBC Life Insurance Company Limited (CHL) (IRDA Regn. No. 136) having its head office at 139 P, Sector 44, Gurugram – 122003, Haryana, India. (Insurer)
- 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.
- The contract of insurance is between the Insurer and the insured and not between HSBC India and the insured.
- 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