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A woman and a little girl drawing in a room; image used for HSBC iSelect Star Term Plan life insurance

iSelect Smart360 Term Plan

A flexible term plan aligned to your life stage and needs.

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited iSelect Smart 360 Term Plan is designed to protect you against life's uncertainties. It's a highly flexible term plan that you can match to your life stage and needs. It offers different options for coverage, premium payment and benefit payouts.

Why you'll want it?

iSelect Smart360 Term Plan offers multiple plan options like Life Secure, Life Secure with Income and Life Secure with Return of Premium. The plan also provides option of whole life coverage, covering spouse in the same policy, multiple premium payment options including short tenure like 5 or 10 years as well as option to pay during your working years i.e. till you reach the age of 60.

 

 

Key Things about the Plan:

  • Multiple options for coverage, premium payment and benefit payouts helps you build the right plan for your needs

  • Choice of cover for a limited period or for your entire lifetime

  • Option to enhance your cover through additional inbuilt coverages (additional riders) like Accidental Death Benefit, Child Care Benefit, Accidental Total and Permanent Disability Benefit, Critical Illness Benefit and Terminal Illness Benefit

  • Option to Block Your Premium at inception and increase cover up to 100% of Base Sum Assured in next 5 Years under Life Secure plan option

  • Option of adding Spouse in the same policy with a discount on the rates for the Spouse under Life Secure plan option

  • Multiple premium payment options, including regular payment, payment for a limited duration of 5/10/15/20/25 years or pay only during your working years i.e. till you are 60 years old

  • Multiple options to receive benefits as lump-sum, monthly income or part lump-sum part monthly income with the option to choose both level / increasing income

  • Increase your life cover with changing life stages and protection needs in the same plan by augmenting cover at key life milestones

  • Discounts on premiums for higher sums assured, special discounts on premiums for female customers

  • Loyalty discount for the existing customers of the Company

Plan UIN number:

136N080V01

Ways to open:

Online, Branch

How it works

A. Customise your plan to suit your insurance requirements

Step Details
Select one of the Plan options
  • Life Secure
  • Life Secure with Income
  • Life Secure with Return of Premium
Select one of the Coverage Options
  • Level
  • Increasing
Select any of the Optional In-Built Covers (Additional riders), if required:
  • Accidental Death Benefit (ADB)
  • Accidental Total & Permanent Disability Benefit (ATPD) -Premium Protection
  • Accidental Total & Permanent Disability Benefit (ATPD) – Premium Protection Plus
  • Critical Illness (CI) – Premium Protection
  • Critical Illness (CI) – Premium Protection Plus
  • Terminal Illness (TI) Benefit
  • Child Care Benefit (CCB)
  • Block Your Premium (BYP) Benefit

 

Note: ATPD-PP/ATPD-PPP and CI-PP/CI-PPP cannot be opted together. Further TI benefit will not available under Life Secure with Income option and CCB & BYP will be available under Life Secure Plan option only.

Option to cover Spouse, if needed

Applicable under Life Secure Plan option and can be opted at Policy inception only

Carefully select any one of the Benefit Payout Options. Once selected, this cannot be changed post policy issuance
  • Lumpsum
  • Monthly Income
  • Part Lumpsum & Part Monthly Income

 

For Part Lumpsum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% or 75% / 25%.

Within Monthly Income, choose level / increasing (at 5% p.a. or at 10% p.a.) Monthly Income and choose to receive it in equal monthly installments over 60 months. 

 

Where Policy Term opted is beyond 80 years of age, only Lump sum Death Benefit Payout option is available. Similarly, Sum Assured paid under different Optional In-built Covers, as opted, will only be paid as a Lump sum only.

A. Customise your plan to suit your insurance requirements

Step Select one of the Plan options
Details
  • Life Secure
  • Life Secure with Income
  • Life Secure with Return of Premium
Step Select one of the Coverage Options
Details
  • Level
  • Increasing
Step Select any of the Optional In-Built Covers (Additional riders), if required:
Details
  • Accidental Death Benefit (ADB)
  • Accidental Total & Permanent Disability Benefit (ATPD) -Premium Protection
  • Accidental Total & Permanent Disability Benefit (ATPD) – Premium Protection Plus
  • Critical Illness (CI) – Premium Protection
  • Critical Illness (CI) – Premium Protection Plus
  • Terminal Illness (TI) Benefit
  • Child Care Benefit (CCB)
  • Block Your Premium (BYP) Benefit

 

Note: ATPD-PP/ATPD-PPP and CI-PP/CI-PPP cannot be opted together. Further TI benefit will not available under Life Secure with Income option and CCB & BYP will be available under Life Secure Plan option only.

Step Option to cover Spouse, if needed
Details

Applicable under Life Secure Plan option and can be opted at Policy inception only

Step Carefully select any one of the Benefit Payout Options. Once selected, this cannot be changed post policy issuance
Details
  • Lumpsum
  • Monthly Income
  • Part Lumpsum & Part Monthly Income

 

For Part Lumpsum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% or 75% / 25%.

Within Monthly Income, choose level / increasing (at 5% p.a. or at 10% p.a.) Monthly Income and choose to receive it in equal monthly installments over 60 months. 

 

Where Policy Term opted is beyond 80 years of age, only Lump sum Death Benefit Payout option is available. Similarly, Sum Assured paid under different Optional In-built Covers, as opted, will only be paid as a Lump sum only.

B. Once you have tailored the plan based on your needs,

  • Choose your Sum Assured, Policy Term, Premium Payment Term and Premium Payment Mode
  • Provide your details like age, gender, health status, lifestyle habits, tobacco/alcohol consumption behaviour and occupation
  • Generate your premium quote and share remaining relevant personal information regarding occupation, lifestyle and health; and details of your nominee, if applicable
  • Proceed to pay your premium online using HSBC Credit or Debit Card

Benefits

Death Benefit

In case of death of Life Insured/Spouse, as applicable, the Sum Assured on Death is payable provided the policy is in-force at the time of the event. Policy terminates upon payment of the benefit.

Key things you should know

  1. Under regular premium payment of Life Secure Plan option there will be no surrender value payable
  2. Your policy will lapse if you do not pay due premium within the grace period under Life Secure Plan option whereas if you do not pay due premium within the grace period after payment of first 2 year’s premium under Life Secure with Income and Life Secure with Return of Premium option, your policy will acquire paid-up status
  3. If you have a 'protection' need, you can click below on 'Apply now' and you will be redirected to the website of Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (Insurer)
  4. 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
  5. You should go through the sales brochure to have a complete understanding of the Policy you are purchasing. You must disclose all details (including health details) correctly in the online proposal form
  6. Since this product is offered to existing HSBC India customers only, the first premium payment for this product can only be made online through either HSBC India Credit or Debit Card
  7. Acceptance of the application will be subject to underwriting as per Insurer's board approved underwriting policy
  8. Purchase of insurance product is purely voluntary and is not linked to availing of any other facility from the Bank
  9. 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

Apply for iSelect Smart 360 Term Plan

Important information

Terms and conditions

  1. This product would not be offered to customers having residence in Japan or nationality of Japan
  2. (For US Person only)
    1. There are restrictions on making requests to revival of policies, if the request is made while you are in the USA
    2. There are restrictions if any policy servicing requests (which impacts the premium or requires change in policy terms and conditions) is made while you are in the USA
    3. Neither HSBC India nor Canara HSBC Oriental Bank of Commerce Life Insurance Company will be able to send renewal notices or communications on restricted policy servicing activities to your US address or by email when you are in the USA
  3. Insurance is the subject matter of the solicitation
  4. The Insurance product is offered and underwritten by the insurer Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (IRDA Regn. No. 136), 139 P, Sector 44, Gurugram – 122003, Haryana, India.
  5. The Hongkong and Shanghai Banking Corporation Limited, India (IRDAI Regn. No. CA0016) (HSBC India / the Bank) 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
  6. The contract of insurance is between the insurer and the insured and not between HSBC India and the insured
  7. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale
  8. 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. This link will open in a new window.

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

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