Online Life Insurance Plans

What is Grace Period in Life Insurance?

It is the duration that is provided to the insured to pay his premium before his policy lapse. In any mode you decide to pay your premiums, there is a due date set. If you do not pay your premiums even after the due date, then you are notified by the company. After this, the grace period sets in. If you do not pay even in the grace period, your life insurance policy will lapse and no benefits will be payable to you.

How Long is the Grace Period?

Duration of the grace period depends on the insurance company. It can range from 15 to 30 days. Canara HSBC Insurance Company provides a grace period of 30 days. In case of monthly policies, it is restricted to 15 days.

Your policy stays active in the grace period as well. So, if anything happens to you during the grace period, the insurance company will still be liable to pay the sum assured to your family.

What to Do After the Grace Period Ends?

If you fail to pay your premiums even after the due date, then your policy is void. You now have to revive the policy by paying penalty charges. You can revive your policy within 2-5 years of lapse of the policy.

Online Plans by Canara HSBC Life Insurance

Be it investment or protection plans; secure the future of your loved ones in just a few clicks. Choose from our most popular online plans for all your requirements.

Savings Plan

  • Choice of 4 Plan options to choose from
  • Guaranteed Maturity / Income Benefit
  • Guaranteed Income from 2nd Policy Year
  • Accidental Death Benefit or Payor Premium
  • Return of Total Premiums Paid at maturity

Young Term Plan

  • Life cover till 99 years of age
  • Special Exit Value
  • Cover for listed 40 Critical illnesses
  • Option to Block Premium Rate and increase cover
  • Additional optional in-built covers for enhanced
  • Tax benefits as per prevailing tax laws

TERM INSURANCE PLAN

  • Life Cover till 99 years of age
  • Option to Block the premium rate and increase
  • Option to avail monthly income post attaining 60
  • Option to receive total premiums paid in case of
  • Tax Benefits as per applicable laws

SAVINGS PLAN

  • 5 plan options to choose from to protect your
  • Pay premiums for 5,7, or 10 years as per your
  • Payor Premium Protection Cover to secure your
  • Tax benefits may be available as per prevailing

Invest 4G

  • Invest in a diverse portfolio of stocks and bond
  • Bonus unit additions for long-term investors
  • Stay with the market with automated portfolio
  • Option to protect your goal from your early
  • Save tax on investment and tax-free partial with

Guaranteed Income4Life

  • Option to receive guaranteed income till the age
  • Guaranteed loyalty additions of more than 10 tim
  • Option of single or regular premium payments
  • Enhanced income pay out for higher premiums
  • Premium protection option to safeguard the goal

Guaranteed Savings Plan

  • Guaranteed maturity value
  • Guaranteed bonus additions for long-term investo
  • Option to protect your goal from your early deat
  • Customise the premium payment and policy term as
  • Save tax on investment and tax-free maturity

Health First Plan

  • Cover against minor conditions of Cancer or Hear
  • Adequate cover to take care of high treatment co
  • Increasing cover to keep up with the rising
  • Income security to your family in the case
  • Option to receive all premiums back in case

Frequently Asked Questions

Anyone who meets the eligibility criteria of the plan chosen by them can buy the life insurance online.

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If you do not feel like going ahead with the online insurance you have chosen, you can always cancel it within the free-look period to get a refund. A free-look period is the timeframe allowed within which a policyholder can cancel the life insurance policy without getting charged any penalty.

If you do not feel like going ahead with the online insurance you have chosen, you can always cancel it within the free-look period to get a refund. A free-look period is the timeframe allowed within which a policyholder can cancel the life insurance policy without getting charged any penalty.

Yes. You can buy multiple life insurance plans online from the same insurance provider or from different providers.

Online insurance plans are insurance policies that you can purchase directly from the insurance provider. Thus, the whole process is performed over the internet.

With the advancements in technology, more and more things can now be done online, even buying Insurance. Insurance companies have now come up with plans that are available only on the online mode as well.

Buying insurance online removes the need for the middle man and provides you with the utmost convenience and cost savings.

Must Read - Insurance Meaning

Buying online insurance nowadays is perhaps one of the safest online activities. As per the IRDAI guidelines, insurers must follow the highest SSL/TLS safety standards for their website and customer data forms. All payments through the insurers' website have to be made through only secured and recognised payment gateways. Thus, it reduces the risk of fraudulent transactions and data theft.

Also Read - Types of Insurance