Top of main content

Grow Smart Plan

Grow Smart Plan provides a flexibility of investment and protection for your entire life.

Why choose a Grow Smart plan?

Canara HSBC Life Insurance Grow Smart Plan is an individual linked life insurance cum savings plan. This whole life plan provides you the flexibility of choosing your investment and providing protection to your family for the rest of your life. Premiums are payable for 10 years or [up to 99 years old minus age of Insured at entry]. Benefits of the policy are payable in the event of the insured’s demise. This Plan provides the twin benefit of securing your life as well as investing in the underlying funds, giving you the opportunity to make potential market returns. At the same time, it does not compromise on the security that you want to provide to your loved ones.

  • Product Boundary - Your entry age should be between 7 years and 65 years

  • Investment Funds - You can choose to invest in 6 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

    •        India Multi-Cap Equity Fund

Plan Unique Identification Number (UIN):


Ways to open:


Features & Benefits

Product Benefits and Flexibilities

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

Maturity Benefit: As this is a whole of life plan there is no maturity benefit under this plan

You can actively manage your investments by switching your money from one fund to another and through redirection of premiums.

You can choose a range of life cover as per your protection needs. Also you have the flexibility to increase or reduce your Sum Assured, depending upon your changing needs.

Premium Details

This Plan offers only annual premium payment frequency. The minimum annual premium is ₹25,000.

You will have to pay this premium throughout the premium payment term chosen by you.

Loyalty Addition and Withdrawal details

1% of your value will be added by way of additional allocation of units at the end of the 15th policy year to boost your investments. 

You can easily withdraw money from your fund in case of financial emergency through partial withdrawals, after 5 years.

Key Things You Should Know

This policy will cover you for whole of life and you need to pay annual premiums for a term as chosen by you (Options for premium payment term : anything between a minimum of 10 years and 99 years less age at entry [99 years – age at entry]).

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 move in Discontinuous Policy Fund and will 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 to brochure of this document.

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.

For details on all charges applicable, please refer to the sales brochure of this product.

Apply for a HSBC Grow Smart Plan

Want to talk?

Contact us today to have your questions answered

You might be interested in


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


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


Group Asset Secure is a comprehensive loan protection plan that provides insurance cover to you if you have an HSBC Home Loan or a Loan Against Property.

Important Information

Terms & Conditions

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 Net Asset Values (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 Life Insurance Company Limited is only the name of the insurance company and Canara HSBC Life Insurance Grow 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 product is offered and underwritten by the insurer Canara HSBC Life Insurance Company Limited (IRDA Regn. No. 136), 139 P, Sector 44, Gurugram – 122003, Haryana, India.

The Hongkong and Shanghai Banking Corporation Limited, India (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 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: Call: 1800-103-0003/ 1800-180-0003. SMS: 9779030003. Email:


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.

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.

Here's an easy way to share your thoughts, stay informed and join the conversation. Follow us: