Smart Guaranteed Pension

Step into retirement with steady income and a legacy of fulfilled promises

  • Guaranteed Lifelong Income
  • High Premium Incentive
  • Wide Range of Annuity options
  • Flexible-Premium Payment Term

Step into retirement with steady income and a legacy of fulfilled promises

  • Guaranteed Lifelong Income
  • High Premium Incentive
  • Wide Range of Annuity options
  • Flexible-Premium Payment Term

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About Smart Guaranteed Pension

UIN: 136N086V02

Have you decided how you will like to spend your golden years? You aspire to enjoy your lifestyle without any financial worries and secure your future. But with market fluctuations and uncertainties that currently exist around us, no investment seems secure. So how does one secure their retirement fund and future? Start planning today so you can enjoy a worry free retirement.

Introducing our guaranteed annuity product Canara HSBC Life Insurance Smart Guaranteed Pension. It is a Non- Linked Non- Par Individual Deferred Annuity plan which gives flexibility to pay the premium in installments and ensures a regular guaranteed income stream that will enable you to have a comfortable retirement.

Product Parameters

Options under the Plan:

  • Option 1- Single Life Annuity with Return of Premiums.
  • Option 2- Single Life Annuity with Return of Premiums on Critical Illness (CI) or Accidental Total & Permanent Disability (ATPD) or Death
  • Option 3- Single Life Annuity
  • Option 4- Joint Life Annuity with Return of Premiums

Please note that an Annuity option once chosen at policy inception cannot be changed at a later stage

Why Buy

  • Guaranteed Lifelong Income: Get guaranteed lifelong income by locking your annuity rate today
  • Wide range of Annuity options: Option to choose from multiple Annuity options basis your needs
  • Flexible Premium Payment Term: Flexibility to choose from different Premium Payment Term (PPT) options
  • Annuity Payout Frequency: Option to receive annuity payouts Annually, Half-yearly, Quarterly and Monthly basis your need
  • Option to defer the annuity payments: Option to choose a Deferment Period equal to PPT, PPT+3, or PPT+5 years
  • Joint life Annuity: Option to extend the plan benefits to your loved one
  • High Premium Incentive: Enhanced Annuity with higher Annualized Premium

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Annuity OptionsBenefits
Single Life Annuity with Return of Premiums

Annuity is payable, at a constant annuity rate in arrears, post the Deferment Period, throughout the life of the Annuitant.

On death of the Annuitant, all future annuity payouts cease immediately and the following benefit shall be payable:

During Deferment Period, higher of:

  • Total Premiums Paid till the date of death plus Guaranteed Additions (GAs)
  • 105% of Total Premiums Paid till the date of death

After Deferment Period, higher of:

  • Total Premiums Paid plus Guaranteed Additions (GAs), less total Annuity payouts till date of death
  • Total Premiums Paid
Single Life Annuity with Return of Premiums on
Critical Illness (CI) or Accidental Total & Permanent Disability (ATPD) or Death

Annuity is payable, at a constant annuity rate in arrears, post Deferment Period throughout the life of the Annuitant.

Upon the Annuitant being diagnosed with any of the covered Critical Illnesses (CI) or Accidental Total & Permanent Disability (ATPD) before age 85 last birthday or on death of the Annuitant, whichever occurs earlier, all future annuity payouts cease immediately and the following benefit shall be payable:

During Deferment Period, higher of:

  • Total Premiums Paid till the date of death/ diagnosis of CI/ ATPD plus Guaranteed Additions (GAs)
  • 105% of Total Premiums Paid till the date of death/ diagnosis of CI/ ATPD

After Deferment Period, higher of

  • Total Premiums Paid plus Guaranteed Additions (GAs), less total Annuity payouts till date of death/ diagnosis of critical illness/ ATPD
  • Total Premiums Paid

CI/ ATPD Benefit is not an additional benefit, it only facilitates an earlier payment of Death Benefit on prior occurrence of the CI/ ATPD.

Single Life Annuity

Annuity is payable, at a constant annuity rate in arrears, post Deferment Period, throughout the life of the Annuitant.

On death of the Annuitant, all future annuity payouts cease immediately and the following benefit shall be payable:

During Deferment Period, higher of:

  • Total Premiums Paid till the date of death plus Guaranteed Additions (GAs)
  • 105% of Total Premiums Paid till the date of death

After Deferment Period

No Death Benefit would be payable

Joint Life Annuity with Return of Premiums

Annuity is payable, at a constant annuity rate in arrears, post Deferment Period, as long as at least one of the two Annuitants is alive.

On death of any one of the Annuitants during or after the Deferment Period, no death Benefit is payable.

On death of the surviving Annuitant, all future annuity payouts cease immediately and the following benefit shall be payable:

During Deferment Period higher of:

  • Total Premiums Paid till the date of death plus Guaranteed Additions (GAs)
  • 105% of Total Premiums Paid till the date of death

After Deferment Period

  • Total Premiums Paid plus Guaranteed Additions (GAs), less total Annuity payouts till date of death
  • Total Premiums Paid

You can customize the policy to suit your financial goals and requirements in just 4 simple steps:

Step 1: Choose the Premium that you wish to pay to buy the Annuity.

Step 2: Choose Premium Payment Term, Deferment Period, Premium Payment Frequency and Annuity Payout Frequency.

Step 3: Choose Annuity Option that matches your financial needs the best.

Step 4: You will get the annuity amount you will receive on the basis of options chosen above and your age and gender.

ParameterDescription
Entry Age (Age as attained on last birthday)30 years to 80 years
PremiumMinimum: Will be subject to minimum annuity Installment

Maximum: No Limit
Premium Payment Term (PPT)4 to 10 years
Deferment PeriodPPT, PPT+3, PPT+5 years
Premium Payment/ Annuity Installment FrequencyAnnual, Half - yearly, Quarterly and Monthly
Annuity Installment

Annuity Installment FrequencyAnnualHalf-yearlyQuarterlyMonthly
Minimum Annuity (Rs.)12,0006,0003,0001,000

Maximum: No Limit

1Deferment Period is the period, in years, commencing from the date of commencement of the Policy to the date of vesting where date of vesting is the date post which the first annuity payment is made to the annuitant in arrears.

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