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Life Insurance

In our endeavor to provide all financial services to our customers under one roof, the Bank entered into a joint venture with HSBC Insurance (Asia Pacific) Holdings Limited and Punjab National Bank to form Canara HSBC Life Insurance Company Limited.

Backed by thorough research and a deep knowledge of the local market as well as socio-economic needs of the population provided by Canara Bank, Canara HSBC Life Insurance has a well diversified portfolio of insurance products and solutions, tailored to the specific needs of the different social and economic strata of the society. We at Canara Bank, acting as a Corporate Agent for Canara HSBC Life Insurance, aim to provide complete insurance solutions to our customers with competitive products, lower charges and prompt and efficient service.

Why Invest in a Life Insurance Policy?

Life Insurance provides safety and security to the family of the insured by providing protection cover at the time of unfortunate/untimely incident. We provide life insurance plans for various life stages to help you meet your insurance & saving needs.
Offers comprehensive life cover
Provides long-term savings
Ensures life stage specific planning
Makes for a good tax saving option
Child Plans
Child plans help you in keeping the promises you make to your child by providing long-term investment opportunities and building a bright future for your child.
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Saving Plans
Saving Plans allow you to create wealth for future and also offer comprehensive life coverage at the same time.
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Retirement Plans
Retirement Plans let you allocate a part of your savings to accumulate over a period of time and provide you with steady income after retirement.
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Term Plans
Protection Plans are specially designed to provide full protection & financial stability to your family in case of any unforeseen events.
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Health Insurance Plans
Health Insurance plans take care of all your worries in case of health emergencies, and no matter how critical your illness is, they help you deal with it financially.
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Frequently Asked Questions (FAQs)

At what age should I purchase a Life Insurance Policy?

You should buy Life Insurance as soon as possible, and definitely as soon as you start earning. Buy when you are young so that your family's future is secure and you get insurance at a cheaper cost. In insurance-cum-investment plans, buying early also gives a greater chance for your wealth to grow.

How should I decide the number of years for which to pay Life Insurance Premium?

Your payment term should depend on the financial goal for what you are saving for. For your child's education, the policy should mature when your child enters college. For a large goal like retirement, your payment term should be as long as possible, to enable you to maximize your savings to care of your non-working years.

What are the various charges in a Life Insurance Policy?

The Government has defined the various charges that could be there in a Life Insurance policy, along with a maximum limit for each. Please refer to your policy documents or plan brochures for further details.

What should I keep in mind while buying a child plan?

When you save for your child's education or marriage, make sure that: The policy has a 'waiver of premium' feature so that, in case of your death, the policy continues and your child's corpus grows undisturbed The Life Assured in the policy is the parent on whom the child is financially dependent. The policy continues until the child reaches the age when the funds are needed you should also consider a plan that gives you a monthly payout to help you pay regular education fees. There are plans in which guaranteed staggered payouts are given during the last 4 or 5 years of the policy to take care of a child’s professional education. So you do not have to worry about higher education fees at that juncture.

Why should I pay my premiums on time?

Paying your premiums on time ensures that you enjoy all your policy benefits which would include life cover and the opportunity to create a corpus. Moreover, certain policies reward you for paying your premiums on time in the form of additions to your fund. These are added to your fund every time you pay your premium.

Can I convert my renewal premium into Equated Monthly Installments (EMI)?

Yes, Canara HSBC Life Insurance provides you the facility to pay your premium through credit card and convert it into easy installments (EMI).

Can I choose the renewal payment date as per my convenience?

Yes, Canara HSBC Life Insurance provides you the flexibility of choosing renewal payment date. You can select any one date (5th, 10th, 15th 20th or 25th) for your premium payment by submitting fresh NACH/ SI mandate. This option is not available in monthly mode cases.

Can I withdraw money from my policy before maturity?

Yes! Many policies have the option where you can withdraw part of your funds before the policy matures. In case you need cash urgently, you can do this. The remaining funds will continue to stay invested in the policy, until maturity. However, this is not always a good idea, especially in the early years. Try to avoid it.


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.


  • 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

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