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About iSelect Guaranteed Future Plus
A Non-Linked Non-Participating Individual Savings Life Insurance Plan
UIN 136N098V01
Our life goals vary as per our life stage. Some of the goals such as marriage, parenthood, children’s education, retirement etc. may be achieved through the help of steady income whereas some may need a lumpsum amount or a mix of both. In addition to the same, it is imperative to ensure that your goals withstand against any uncertainties that life brings.
Presenting Canara HSBC Life Insurance iSelect Guaranteed Future Plus, a plan that provides you with life insurance and guaranteed benefits to secure your goals and providing peace of mind to you and your loved ones. It also provides optional benefits to secure your loved ones’ future.
Choose from our top plans
Depending upon your financial need, you can select your plan option (any ONE) from the following available options under this product.
- Benefits
- How the Plan Works?
- Plan At Glance
- Other Benefits
Death Benefit
On death of the Life Assured, Sum Assured on Death, will be paid, subject to the minimum of surrender value and the Policy will terminate and all further benefits and coverage cease to exist thereafter.
If Accidental Death Benefit (ADB) has been chosen,
On death of the Life Assured due to accident, an additional amount equal to ADB Sum Assured will be paid and the Policy will terminate and all further benefits and coverage cease to exist thereafter.
Survival Benefit
Guaranteed Income in arrears as per the Income Frequency chosen from 2nd Policy year till the end of Income Period.
You can customize the policy to suit your financial goals and requirements in just 4 simple steps:
Step 1: Choose how much you want to save to contribute towards your goal. This is your premium.
Step 2: Choose your Premium Payment Term (PPT)/ Income Period/ Premium Payment Mode/ Income Frequency basis your financial horizon.
Step 3: Choose Accidental Death Benefit, if required by you.
Step 4: The Guaranteed Income in this plan will be determined on the basis of your age and the options chosen above and will be payable during income period as defined below.
EXAMPLE: Early Income Option
Case Study: Age 35 years, Policy Term 20 years, Income Period 19 years, Premium Payment Term 10 years and Premium Payment Frequency Yearly, Income Payout Frequency Annual and Accidental Death Benefit is not chosen.
| Parameters | Minimum | Maximum | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Entry Age as on Last Birthday | 0 years | 65 years^ | |||||||
| 18 years | 99 years# | ||||||||
| Premium Payment Term/Policy Term(in years) |
| ||||||||
| Premium (in ₹) | Annual - 20,000 Half-Yearly - 10,200 Quarterly - 5,200 Monthly - 1,800 | No limit (Subject to Board Approved Underwriting Policy of the Company) | |||||||
| Sum Assured (in ₹) | 2,20,000 | No limit (Subject to Board Approved Underwriting Policy of the Company) | |||||||
| Premium Payment Mode | Annual, Half-Yearly, Quarterly & Monthly modes are available Chosen at the Policy inception and cannot be changed later |
#Maximum Maturity Age is 75 years if Accidental Death Benefit or Payor PPC is chosen, ^Where Payor PPC has been chosen, Maximum Maturity /Entry Age criteria is applicable for both the Life Assured as well as the Policyholder. In all other cases, the above criteria is applicable for the Life Assured. *Where Accidental Death Benefit has been chosen the minimum entry age is 18 years. *The minimum entry age for a Policyholder is 18 years (age last birthday) irrespective he opts for Payor PPC or not.
Optional Benefits
- Accidental Death Benefit
In event of the death of the Life Assured due to an accident, an additional amount equal to the ADB sum assured will be payable. The ADB sum assured will be the same as the Sum Assured on Death at inception, subject to a maximum of ₹ 2 crore. This benefit can be opted with all plan options.
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.
Frequently Asked Questions
Yes, basis your need, you can buy the iSelect Guaranteed Future Plus and opt the plan option wherein you can get Income or Lumpsum benefit or mix of both.
No, you will not be able to change the premium payment mode that you have opted for during the policy commencement.
With this benefit, all future premiums will be waived off in the event of the death of the Payor (i.e., the Policyholder) anytime during the Policy term provided the Policy is in-force. In case where Policyholder and Life Assured are the same, Sum Assured on Death will be payable immediately, and all future premiums payable shall be waived off. This benefit can be opted with Endowment Option and Regular Income Option.