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Flexi Edge

Why invest in Flexi Edge?

You are working hard on your way to progress and wouldn't have any desire to settle for anything less than the best. Life for you is about moving ahead continuously and striving on the path towards growth and success.

Presenting Canara HSBC Life Insurance Flexi Edge, a non-linked, participating individual savings life insurance plan that partners with you on your journey and helps you fulfill your financial dreams and aspirations. The Plan also takes care of your loved ones in case you are not around.

The Plan ensures:
  • Financial protection to your family
  • Lumpsum benefit at policy maturity for your financial goals
  • Option to receive income till 100 years age or a select term
  • Option to withdraw from accumulated survival benefit anytime
  • Upside of bonuses to boost your policy benefits
  • Premium protection option to safeguard the goal in case of early demise

Depending upon your need, you can select your plan option (any ONE) from the following available options under this product.

Why Buy?

  • Ideal instrument to meet target savings milestone
  • 125% of Guaranteed Sum Assured on Maturity
  • Convenience with multiple options to align the policy to life stages
  • Bonus, if any in the policy to augment policy benefits
  • Option to choose premium protection benefit
  • Avail higher Guaranteed Sum Assured for higher premium
  • Option to avail the loan facility in case of financial requirement
  • Tax benefits may be available as per prevailing Tax Laws

Benefits

Download Brochure

Maturity Benefit

Guaranteed Sum Assured
PLUS Guaranteed Loyalty Addition
PLUS accrued Annual Bonuses, if any
PLUS Final Bonus, if any

Death Benefit

Higher of:

  • Sum Assured on Death
    PLUS accrued Annual Bonuses, if any
    PLUS Interim Annual Bonus, if any
    PLUS Final Bonus, if any.
  • 105% of the Total Premiums Paid till the date of death.

If the optional Premium Protection Benefit is chosen, the policy will pay following benefits: Higher of:

  • Sum Assured on Death
  • 105% of the Total Premiums Paid till the date of death AND

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.

Other Benefits

High Premium Booster

Avail higher Guaranteed Sum Assured for higher premium. Guaranteed Sum Assured will increase by applicable High Premium Booster percentage. High Premium Booster percentage varies by Plan Option, Premium Protection Benefit (PPB) opted or not, Policy Term and Premium Payment Term.


Loan Facility

To meet any contingent need, you may avail the loan facility in this plan, once the policy acquires a Surrender Value.


Tax Benefit

You may be entitled for tax benefits in accordance with the provision of Income Tax Act, 1961 as amended from time to time. Please consult your independent tax advisor for tax related queries.

Plan at a glance

Parameters

Minimum

Maximum

Without Premium
Protection Benefit

With Premium
Protection Benefit

Without Premium
Protection Benefit

With Premium
Protection Benefit

Entry Age as on Last
Birthday (years)

0

18

60 for annual mode/
50 for non-annual
modes

50 for annual mode/
40 for non-annual
modes

Maturity Age as on
Last Birthday (years)

18

30

75 for annual mode/
70 for non-annual
modes

70

Premium Payment Term (PPT) &Policy Term (PT)( years)

PPT

7

8

9

10

11

12

PT

12 to 40

13 to 40

14 to 40

15 to 40

16 to 40

17 to 40

Premium

Yearly

24,000

Half-Yearly

18,360

Quarterly

9,360

Monthly

3,240

No limit (Subject to Board Approved
Underwriting Policy of the Company)

Why Buy?

  • Life cover throughout the policy term
  • Guaranteed Benefits plus the upside of Bonus, if any to boost your policy
    • 50% of Guaranteed Sum Assured payable as lumpsum at end of the PPT
    • Guaranteed Income plus Cash Bonus, if any post PPT every year till Maturity
    • 100% of Guaranteed Sum Assured plus accrued Annual Bonus, if any plus Final Bonus, if any plus Balance under Deferred Survival Benefit facility , if any payable at Maturity
  • Option to choose premium protection benefit
  • Flexibility to defer the Survival Benefits and redeem them basis your financial needs
  • Annual Bonuses accrue in the policy from the first year
  • Avail higher Guaranteed Sum Assured for higher premium
  • Option to avail the loan facility in case of financial requirement
  • Tax benefits may be available as per prevailing Tax Laws

Benefits

Download Brochure

Maturity Benefit

At the end of policy term, you will get:

100% Guaranteed Sum Assured PLUS accrued Annual Bonuses, if any PLUS Final Bonus, if any PLUS Balance under Deferred Survival Benefit facility, if any.

Death Benefit

Higher of:

  • Sum Assured on Death
    PLUS accrued Annual Bonuses, if any
    PLUS Interim Annual Bonus, if any
    PLUS Interim Cash Bonus, if any
    PLUS Final Bonus, if any
  • 105% of the Total Premiums Paid till the date of death.

PLUS Balance under Deferred Survival Benefit facility , if any

However, if the optional Premium Protection Benefit is chosen, the policy will pay following benefits: Higher of:

  • Sum Assured on Death
  • 105% of the Total Premiums Paid till the date of death

PLUS Balance under Deferred Survival Benefit facility, if any
PLUS all future premiums payable will get waived and the Policy will continue till the end of the Policy Term with all future benefits intact.

Survival Benefit
  • At the end of the PPT, you will get:50% of Guaranteed Sum Assured as lumpsum
  • Each year after end of PPT, you will get: Guaranteed Income plus Cash Bonus, if any, at the end of each policy year

Other Benefits

Deferred Survival Benefit Facility

At policy inception or anytime during policy term, you can choose to not avail the survival benefits and put the money under Deferred Survival Benefit facility. Your money will not be kept idle and shall grow at a non-participating accumulation rate.


High Premium Booster

Avail higher Guaranteed Sum Assured for higher premium. Guaranteed Sum Assured will increase by applicable High Premium Booster percentage. High Premium Booster percentage varies by Plan Option, Premium Protection Benefit (PPB) opted or not, Policy Term and Premium Payment Term.


Loan Facility

To meet any contingent need, you may avail the loan facility in this plan, once the policy acquires a Surrender Value.


Tax Benefit

You may be entitled for tax benefits in accordance with the provision of Income Tax Act, 1961 as amended from time to time. Please consult your independent tax advisor for tax related queries.

Plan at a glance

Parameters

Minimum

Maximum

Without Premium
Protection Benefit

With Premium
Protection Benefit

Without Premium
Protection Benefit

With Premium
Protection Benefit

Entry Age as on Last
Birthday (years)

0

18

55 for annual mode/ 45 for non-annual modes

50 for annual mode/ 40 for non-annual modes

Maturity Age as on
Last Birthday (years)

18

30

70

Premium Payment Term (PPT) &Policy Term (PT)( years)

PPT

7

8

9

10

11

12

PT

12 to 40

13 to 40

14 to 40

15 to 40

16 to 40

17 to 40

Premium (in Rupees)

Yearly

24,000

Half-Yearly

18,360

Quarterly

9,360

Monthly

3,240

No limit (Subject to Board Approved
Underwriting Policy of the Company)

Why Buy?

  • Whole life protection for your loved ones with life cover till age 100 years
  • Whole life income with Cash Bonus, if any every year starting from 2 nd policy year
  • Guaranteed Additions to take care of your life-stage expenses
  • Financial Safety for your family
  • Flexibility to defer the Survival Benefits and redeem them basis your financial needs
  • Avail higher Guaranteed Sum Assured for higher premium
  • Option to avail the loan facility in case of financial requirement
  • Tax Benefits may be available as per prevailing Tax Laws

Benefits

Download Brochure

Maturity Benefit

At the end of policy term, you will get:

Guaranteed Sum Assured PLUS Final Bonus, if any PLUS Balance under Deferred Survival Benefit facility, if any.

Death Benefit

Higher of:

  • Sum Assured on Death
    PLUS accrued Guaranteed Additions
    PLUS Interim Cash Bonus, if any
    PLUS Final Bonus, if any
  • 105% of the Total Premiums Paid till the date of death

PLUS Balance under Deferred Survival Benefit facility, if any.

However, if Life Assured dies after attainment of Milestone Age, following will be paid:

Higher of:

  • Sum Assured on Death
    PLUS Interim Cash Bonus, if any
    PLUS Final Bonus, if any
  • 105% of the Total Premiums Paid till the date of death

PLUS Balance under Deferred Survival Benefit facility, if any.

Survival Benefit
  • Each year starting from the end of the 2 nd policy year, you will get: Cash Bonus, if any, at the end of every year till you turn 100 years
  • At attainment of Milestone Age, you will get: Accrued Guaranteed Additions in lumpsum
  • At the end of policy term, you will get: Guaranteed Sum Assured PLUS Final Bonus, if any PLUS Balance in Cash Deposit, if any

On payment of this benefit, the policy will terminate and all further coverage or benefits cease to exist thereafter.

Other Benefits

Deferred Survival Benefit Facility

At policy inception or anytime during policy term, you can choose to not avail the survival benefits and put the money under Deferred Survival Benefit facility. Your money will not be kept idle and shall grow at a non-participating accumulation rate.


High Premium Booster

Avail higher Guaranteed Sum Assured for higher premium. Guaranteed Sum Assured will increase by applicable High Premium Booster percentage. High Premium Booster percentage varies by Plan Option, Premium Protection Benefit (PPB) opted or not, Policy Term and Premium Payment Term.


Loan Facility

To meet any contingent need, you may avail the loan facility in this plan, once the policy acquires a Surrender Value.


Tax Benefit

You may be entitled for tax benefits in accordance with the provision of Income Tax Act, 1961 as amended from time to time. Please consult your independent tax advisor for tax related queries.

Plan at a glance

Parameters

Minimum

Maximum

Entry Age as on last birthday (years)

18

55for annual mode/ 45 for non-annual modes

Maturity Age as on last birthday (years)

100

Premium Payment Term (PPT) &Policy Term (PT) (years)

PPT

10 to 20

PT

100– Entry Age

Minimum policy term is of 45 years.

Premium (in Rupees)

Yearly

24,000

Half-Yearly

18,360

Quarterly

9,360

Monthly

3,240

No limit (Subject to Board Approved
Underwriting Policy of the Company)

Disclaimer

UIN: 136N074V01

Canara Bank (IRDAI Regn. No. CA0045) is the Corporate Agent of the Insurer.

The online journey is being enabled through the Insurance Self Network platform (ISNP) of the Company where Canara Bank is a market participant as the corporate agent of the insurer.

Purchase of any insurance products by a bank's customer is purely voluntary and is not linked to availment of any other facility from the bank.

Trade Logo of Canara HSBC Life Insurance Company Limited (formerly known as Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited) is used under license with Canara Bank and HSBC Group Management Services Limited.

The Insurance products are offered and underwritten by Insurer (IRDAI Regn. No. 136) having its head office at 139 P, Sector - 44, Gurugram - 122003, Haryana, India.

The premium mentioned is for standard lives. Premium rates for tobacco users will vary. Your actual premium will depend on the Company's assessment of risks on your health, lifestyle, occupation, etc. Annualized premium may vary for monthly mode.

For more details on risk factors, terms and conditions please read the Sales Brochure carefully before concluding a sale.

Website: www.canarahsbclife.com
Call (Toll free no.): 1800-103-0003/ 1800-180-0003/ 1800-891-0003
SMS: 9779030003
Missed Call: 0120-6927801
Email: customerservice@canarahsbclife.in

#Tax benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.

Collection of advance premium shall be allowed within the same financial year for the premium due in that financial year. However, where the premium due in a financial year is being collected in previous financial year, the premium may be collected for a maximum period of three months in advance of the due date of the premium. The premium so collected in advance shall only be adjusted on the due date of the premium. Such advance premium, if any, paid by the Policyholder shall not carry any interest.

Medical charges will be deducted in case of non-issuance of the policy.

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.

Canara HSBC Life Insurance Company Limited
IRDAI Registration no: 136

Data collected by the company is subject to the Terms & Conditions laid out in the Privacy Policy.

©2022 Canara HSBC Life Insurance Company Limited

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