Meet our Advisor
Meet our Advisor
Application Status
Name
Date of Birth
Plan Name
Status
Unclaimed Amount of the Policyholder as on
Name of the policy holder
Policy Holder NamePolicy No.
Policy NumberAddress of the Policyholder as per records
AddressUnclaimed Amount
Unclaimed Amount
Request Registered
Thank You for submitting the response, will get back with you.
About Guaranteed Assured Income
A Non-Linked Non-Participating Individual Life Insurance Savings cum Protection Plan
UIN: 136N097V03
We each have unique dreams and goals that we like to pursue and wouldn't it be perfect if our short term, long-term & immediate financial goals in life are aided with guaranteed promises?
Choose Canara HSBC Life Insurance Guaranteed Assured INcome, a plan that provides you, life insurance coverage to achieve financial stability and security for your family and also helps you with an alternate source of savings to take care of your financial goals .The plan gives guaranteed income with the flexibility to get your premiums back at the end of policy term. The plan ensures that your financial goals are met and you are able to give wings to your dreams.
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.
Short Term Income
- Why Buy
- Benefits
- Other Benefits
- How the Plan Works?
- Plan At Glance
Why Buy
- Protection: Ensure financial protection for your family in case of an eventuality
- Guaranteed Benefits: All the policy benefits are upfront guaranteed at start of the policy
- Income Pay-outs: An Assured Income starts post completion of Premium Payment Term & Deferment Period to take care of the recurring expenses
- Flexibility in plan: Income can be annual/ semi-annual/ quarterly/ monthly – the way you want
- Loyalty Income: An additional income stream will be paid along with Assured Income stream
- Step Up Income: Optional benefit where, your Assured Income will be enhanced each year @5% p.a.
- Final Benefit: 100% of Total Premiums Payable will be paid at policy Maturity
- Tax Benefits as per applicable laws as amended from time to time
Short Term Income
Death Benefit
On death of the Life Assured the death benefit payable will be equal to:
- Sum Assured on Death
- On payment of this benefit, the policy will terminate and no further benefit will be payable
Survival Benefit
‘Assured Income Instalment’ plus ‘Loyalty Income Instalment’ payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid post completion of Premium Payment Term + Deferment Period till the end of Policy Term.
Maturity Benefit
Sum Assured on Maturity i.e. “Final Benefit” equal to 100% of Total Premiums Payable.
Step up Income option
An optional benefit which can be selected at inception, where an additional step up income calculated as 5% of the First year Annual Assured Income will be added every year on each Income Anniversary payable from the start of the Income Pay-out Period. This benefit shall be payable till the end of pay-out period only to the in-force and paid-up policies. Loyalty Income Instalment will not increase with the step-up rate throughout the income pay-out period.
Loyalty Income
An additional income shall be payable at the end of every month/quarter/half year/year as per the chosen income frequency along with Assured Income Instalment till the end of policy term. Annual Loyalty income will be equal to 50% of First year Annual Assured Income.
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.
How the Plan Works
You can customize the policy to suit your financial goals and requirements in just 4 simple steps:
Choose your premium payment frequency and how much you want to save. That is your Modal Premium
Choose your Premium Payment Term (PPT), Deferment Period (DP), Income Pay-out Period (IPP), and Income Frequency. Your Policy Term will be PPT+DP+IPP
Choose optional benefit (Step up Income), if required by you
Income in this plan will be determined on the basis of options chosen above & your age
Example: For Short Term Income
Case Study 1: Swati, aged 30 years, wants to save in a plan to fulfill her short term goals & wants an additional source of income to manage her increasing expenses for daily needs. To fulfill this need, she opts for Canara HSBC Life Insurance Guaranteed Assured INcome plan & pays a premium of Rs. 1,00,000 annually. She opts for a Premium Payment Term of 5 years, Deferment Period of 5 years & Income Pay-out Period will be the equal to PPT which is 5 years. She chooses income payout frequency as Annual. Let us see how this plan would work for her:
Scenario 1: On Survival till Maturity
She receives a total income of Rs. 3,62,550 (Rs. 72,510 annually). Life Cover applicable throughout the Policy Term – Rs. 11,00,000
Scenario 2: DEATH BENEFIT - If death occurs during the 8th year of the Policy Term
On payment of this benefit, the Policy will terminate and no further benefit will be payable.
| Parameters | Minimum | Maximum | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Entry Age as on Last Birthday | 0 years | 60 years | ||||||||||||
| Maturity Age as on Last Birthday | 18 years | 99 years | ||||||||||||
Premium Payment Term, Deferment Period, Policy Term & Income Pay-out Period (in years) | SHORT TERM INCOME:
*Availability of Policy Term will be subject to Minimum Maturity Age of 18 years and Maximum Maturity Age of 99 years | |||||||||||||
| Premium (in Rupees) |
| No limit (Subject to Board Approved Underwriting Policy of the Company) | ||||||||||||
Long Term Income
- Why Buy
- Benefits
- Other Benefits
- How the Plan Works?
- Plan At Glance
Why Buy
- Protection: Ensure financial protection for your family in case of an eventuality
- Guaranteed Benefits: All the policy benefits are upfront guaranteed at start of the policy
- Income Pay-outs: An Assured Income starts post completion of Premium Payment Term & Deferment Period to take care of the recurring expenses
- Flexibility in plan: Income can be annual/ semi-annual/ quarterly/ monthly – the way you want
- Loyalty Income: An additional income stream will be paid along with Assured Income stream
- Step Up Income: Optional benefit where, your Assured Income will be enhanced each year @5% p.a.
- Final Benefit: 100% of Total Premiums Payable will be paid at policy Maturity
- Tax Benefits as per applicable laws as amended from time to time
Long Term Income
Death Benefit
On death of the Life Assured the death benefit payable will be equal to:
- Sum Assured on Death
- On payment of this benefit, the policy will terminate and no further benefit will be payable
Survival Benefit
Assured Income Instalment’ plus ‘Loyalty Income Instalment’ payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid post completion of Premium Payment Term + Deferment Period till the end of Policy Term.
Maturity Benefit
Sum Assured on Maturity i.e. “Final Benefit” equal to 100% of Total Premiums Payable.
Step up Income option
An optional benefit which can be selected at inception, where an additional step up income calculated as 5% of the First year Annual Assured Income will be added every year on each Income Anniversary payable from the start of the Income Pay-out Period. This benefit shall be payable till the end of pay-out period only to the in-force and paid-up policies. Loyalty Income Instalment will not increase with the step-up rate throughout the income pay-out period.
Loyalty Income
An additional income shall be payable at the end of every month/quarter/half year/year as per the chosen income frequency along with Assured Income Instalment till the end of policy term. Annual Loyalty income will be equal to 50% of First year Annual Assured Income.
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.
How the Plan Works
You can customize the policy to suit your financial goals and requirements in just 4 simple steps:
Choose your premium payment frequency and how much you want to save. That is your Modal Premium
Choose your Premium Payment Term (PPT), Deferment Period (DP), Income Pay-out Period (IPP), and Income Frequency. Your Policy Term will be PPT+DP+IPP
Choose optional benefit (Step up Income), if required by you
Income in this plan will be determined on the basis of options chosen above & your age
Example: For Long Term Income
Case Study: Mr. Kumar, aged 35 years, pays a premium of Rs. 1,00,000 in Canara HSBC Life Insurance Guaranteed Assured INcome plan on an annual mode. He opts for Long Term Income option, 10 year Premium Payment Term, 2 year deferment period and 20 year income pay-out period. His policy term will be 32 years. He chooses income payout option as Annual. Let us see how this plan would work for him:
Scenario 1: On Survival till Maturity
He receives a total income benefit of Rs. 19,60,500 (Rs. 98,025 annually). Life Cover applicable throughout the Policy Term – Rs. 11,00,000
Scenario 2: DEATH BENEFIT - If death occurs during the 7th year of the Policy Term
On payment of this benefit, the Policy will terminate and no further benefit will be payable.
| Parameters | Minimum | Maximum | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Entry Age as on Last Birthday | 0 years | 60 years | ||||||||||||||||||||
| Maturity Age as on Last Birthday | 18 years | 99 years | ||||||||||||||||||||
Premium Payment Term, Deferment Period, Policy Term & Income Pay-out Period (in years) | LONG TERM INCOME:
*Availability of Policy Term will be subject to Minimum Maturity Age of 18 years and Maximum Maturity Age of 99 years | |||||||||||||||||||||
| Premium (in Rupees) |
| No limit (Subject to Board Approved Underwriting Policy of the Company) | ||||||||||||||||||||
Early Income
- Why Buy
- Benefits
- Other Benefits
- How the Plan Works?
- Plan At Glance
Why Buy
- Protection: Ensure financial protection for your family in case of eventuality
- Guaranteed Benefits: All the policy benefits are upfront guaranteed at start of the policy
- Income Pay-outs:
- Immediate Income: Income starts from 2nd year onwards till the end of Premium Payment Term
- Assured Income: Income starts post completion of Premium Payment Term till the end of Policy Term
- Flexibility in plan: Income can be annual/ semi-annual/ quarterly/ monthly – the way you want
- Loyalty Income: An additional income stream will be paid along with Assured Income stream
- Final Benefit: 100% of Total Premiums Payable will be paid at Policy Maturity
- Tax Benefits as per applicable laws as amended from time to time
Early Income
Death Benefit
On death of the Life Assured the death benefit payable will be equal to:
- Sum Assured on Death
- On payment of this benefit, the policy will terminate and no further benefit will be payable
Survival Benefit
- During PPT- “Immediate Income Instalment” payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid from 2nd year onwards till the end of Premium Payment Term.
- Post PPT- ‘Assured Income Instalment’ plus ‘Loyalty Income Instalment’ payable at the end of every month/quarter/half year/year as per the chosen Income Frequency. The same shall be paid post completion of Premium Payment Term till the end of Policy Term.
Maturity Benefit
- Sum Assured on Maturity i.e. “Final Benefit” equal to 100% of Total Premiums Payable.
Loyalty Income
An additional income shall be payable at the end of every month/quarter/half year/year as per the chosen income frequency along with Assured Income Instalment till the end of policy term. Annual Loyalty income will be equal to 50% of First year Annual Assured Income.
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.
How the Plan Works
You can customize the policy to suit your financial goals and requirements in just 4 simple steps:
Choose your premium payment frequency and how much you want to save. That is your Modal Premium
Choose your Premium Payment Term (PPT)/ Policy Term (PT) and Income Frequency
Income in this plan will be determined on the basis of options chosen above & your age
Example: For Early Income
Mr. Gupta, aged 35 years, pays a premium of Rs. 1,00,000 in Plan & has opted for annual premium payment mode. He opts for Canara HSBC Life Insurance Guaranteed Assured INcome-Early Income option, 10 year Premium Payment Term and 30 year Policy Term. He chooses income payout option as Annual. Let us see how this plan would work for him:
Scenario 1: On Survival till Maturity
He receives a total income (Immediate, Assured & Loyalty Income Instalment) benefit of Rs. 15,04,500 Life Cover applicable throughout the Policy Term – Rs. 11,00,000
Scenario 2: DEATH BENEFIT - If death occurs during the 8th year of the Policy Term
On payment of this benefit, the Policy will terminate and no further benefit will be payable.
| Parameters | Minimum | Maximum | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Entry Age as on Last Birthday | 0 years | 60 years | |||||||||
| Maturity Age as on Last Birthday | 18 years | 99 years | |||||||||
Premium Payment Term, Deferment Period, Policy Term & Income Period (in years) |
*Availability of Policy Term will be subject to Minimum Maturity Age of 18 years and Maximum Maturity Age of 99 years | ||||||||||
| Premium (in Rupees) |
| No limit (Subject to Board Approved Underwriting Policy of the Company) | |||||||||