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Smart Future Income Plan

Smart Future Income Plan offers you a regular stream of monthly income which could be used to supplement your earnings as well as help you plan your retirement.

Why choose a Smart Future Income Plan?

Canara HSBC Oriental Bank Of Commerce Life Insurance Future Smart Plan is an individual non-linked par life insurance savings cum protection plan that provides a long -term investment opportunity, to support you to build a bright future for your child. Its comprehensive insurance cover (Sum Assured on death and Premium Funding on death or disability) assists you in securing their financial future in case of any unfortunate event.


It can be customised with a choice of policy and premium payment term to link benefits of the plan with your child’s financial requirement e.g. higher education needs or marriage. With optional features like Auto Funds Rebalancing and Safety Switch Option, you can systematically manage your funds without compromising on the security that you want to provide your child.

  • Entry Age: Your age should be between 18 years and 55 years.

  • Premium payment term: Fixed premium payment term of 10 years.

  • Policy term: Fixed policy term of 25 years.

Plan UIN Number:



Ways to open:


Features & Benefits

Product Benefits

Life-cover Benefits Sum Assured: 100 times of the chosen monthly income.

Death Benefit: On death of the life assured, a death benefit equal to Death Benefit Sum Assured [Higher of Sum Assured or 10 times Annualised Premium] +added annual bonus (and any interim bonus for the part of the year in which death occurs) +final bonus (if any) subject to at least 105% of total premiums paid till date of death less underwriting extra premiums, if any shall be payable.

Income Benefit: You will receive the monthly income during the last 15 years of the plan i.e. from the end of 121st policy month (not the calendar month) up to the end of policy term provided that premiums are paid as and when due.

Maturity Benefit: On survival till maturity, Added Annual bonuses along with Final Bonus, if any will be paid.


Other Benefits:

Rebate: If your Sum Assured is greater than or equal to Rs 7 Lacs, you will be entitled for a premium rebate. 

Loans: You can avail of the loan facility to meet your liquidity needs, once the policy acquires a surrender value. 

Annual Bonuses: Your policy is entitled to get annual bonuses (expressed as a percentage of Sum Assured) based on the profits emerging from the with-profit fund managed by the company. These bonuses will be declared and added to your policy at the end of every year.

Refer brochure for additional details

Tax Benefit: You can avail tax benefits on premiums paid and the benefit paid out under the policy, subject to the applicable provisions of Section 80C and Section 10(10D) respectively, of the Income Tax Act, 1961. HSBC India does not provide tax advice and hence for tax related queries we recommend that you consult your independent tax advisor.

Premium Options

  • Premium Frequency: Annual and Monthly mode.
  • Annual Premium: 
    The minimum annual premium is ₹66,760*
  • Minimum Income: The minimum monthly income is ₹5,000 (in multiples of 100 thereafter).

*For an individual aged 18 years

Key Things You Should Know

This is a Traditional Monthly Income Plan with a fixed policy term and life cover for 25 years

The fixed premium payment term is 10 years and monthly income period is 15 years (years 11 to 25)

Kindly pay your premiums regularly and on time to enjoy life cover and income benefits. In case premiums are discontinued anytime during the premium payment term (years 1 to 10), your Life Cover will cease and monthly income may get impacted.

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 entire document to have a complete understanding of the policy you are purchasing

Purchase of insurance product is purely voluntary and is not linked to availment of any other facility from the bank

Apply for a HSBC Smart Future Income Plan

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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 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 Future 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 Oriental Bank of Commerce Life Insurance Company Limited (IRDA Regn. No. 136), 139 P, Sector 44, Gurugram – 122003, Haryana, India.

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: 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.

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