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 Fortune Plan
UIN: 136N084V04
Saving forms an important part of your financial plan by providing you financial independence, a debt-free life, financial security for your loved ones and host of other benefits especially with achieving your goals and dreams in life. But what about these dreams if you are not around tomorrow? To help you with your decision of life insurance, financial security and your savings goal, Canara HSBC Life Insurance introduces Guaranteed Fortune Plan a non-linked, non-participating, individual, savings life insurance plan that helps you achieve your goals with its guaranteed benefit.
Why Buy
A guaranteed benefit plan such as Guaranteed Fortune Plan provides assured benefit to the policyholders. These plans provide dual benefit of life cover together with guaranteed payout ensuring policyholders fulfill their goals like savings for children’s education or marriage expenses, dream vacation or securing the loved one’s future.
Download Forms
Key Highlights of choosing Guaranteed Fortune Plan
- Life Cover
- Guaranteed Payout at the end of the Policy Term
- CARE Pay Benefit
- Option to receive Guaranteed Cash Back at the end of every 5th Policy Year
- Option for Deferring the Survival Benefit
- Flexibility of Premium Payment
- Varied options of Policy Term
- Guaranteed Yearly Additions to boost Maturity Benefit Payout
- Tax Benefits available as per prevailing tax laws amended from time to time
Benefits shall be applicable as per the plan option selected. Please refer the Sales Brochure for applicable terms and conditions.
Sample Illustrations
Guaranteed Savings Option
Mr. Prakash, aged 30 years, plans to save money for his dream vacation. He decides to purchase Canara HSBC Life Insurance Guaranteed Fortune Plan with Plan Option as Guaranteed Savings Option, Annual Premium as ₹1,00,000 (exclusive of GST), Policy Term as 25 years and Premium Payment Term as 10 years.
⌃The illustrations depicted starts from zero since the premiums are paid at the beginning of the year.
Guaranteed Cash Back Option
Ms. Sinha, aged 30 years, plans to save money for her child’s education and receive some lump sum amount throughout the policy term to manage her other expenses such as the child’s tuition or school fees. She decides to purchase Canara HSBC Life Insurance Guaranteed Fortune Plan with Plan Option as Guaranteed Cash Back Option, Annual Premium as ₹1,00,000 (exclusive of GST), Policy Term as 20 years and Premium Payment Term as 10 years.
- Benefits
- Plans Options
- Plan At Glance
Life Cover
Lump sum payout to the nominee in case of death of the Life Assured.
CARE Pay Benefit:
| C | A | R | E |
|---|---|---|---|
| Claims | Accelerated | For Relief | & Ease |
We understand that losing a loved one can be a very traumatic experience for the family members. To assist in such a difficult situation, the product offers CARE (Claims Accelerated for Relief & Ease) Pay Benefit, under which, on occurrence of death, the product will pay 100% of Total Premiums Paid till date of death on intimation of death of the Life Assured, established basis the Death Certificate issued by competent authority and the rights of claimant established basis applicable documents as may be required by the Company from time to time. CARE Pay benefit is an accelerated cover and the amount paid for this benefit will be deducted from the Sum Assured on Death payable. Post payment of CARE Pay Benefit and investigation of Claim, remaining Sum Assured on Death shall be payable. The benefit shall be paid provided all due premiums have been paid and the Policy is in-force status at the time of death.
Survival Benefits:
Guaranteed Yearly Additions
In order to boost the corpus payable at the end of the Policy Term, the product offers Guaranteed Yearly Additions. The Guaranteed Yearly Additions will accrue in the last 3 Policy Years of the Policy Term at the beginning of each Policy Year.
Guaranteed Cash Back (Available only under Guaranteed Cash Back Option).
15% of Guaranteed Sum Assured on Maturity payable at the end of every 5th Policy Year (falling before the end of the Policy Term)
Option to Defer Survival Benefit:Under this option, the Policyholder can choose to defer the payout of Survival Benefits i.e. the guaranteed cash backs. The Policyholder can withdraw his / her balance money from accumulated Survival Benefit partially/fully any time during the Policy Term by giving the Company a written notice.
Upon death of the Life Assured or upon surrender/maturity of the Policy, the deferred Survival Benefit, if not withdrawn already, shall be payable along with the Death Benefit, Surrender Benefit or Maturity Benefit, as may be applicable.
Guaranteed Maturity Benefit
Guaranteed Lump sum amount will be paid to the policyholder on Death or on outliving the policy term.
Depending on your savings need, the product provides two plan options to choose from i.e. Guaranteed Savings Option and Guaranteed Cash Back Option. Let’ see how these plans work.
Guaranteed Savings Option
Benefit paid on Death (Death Benefit) | Sum Assured on Death less CARE Pay Benefit already paid, if any, plus accrued Guaranteed Yearly Additions, if any. On payment of this benefit, the Policy will terminate and no further benefit shall be payable |
|---|---|
Benefit paid during the policy Term on survival (Survival Benefit) | Not Applicable |
Benefit paid at the end of the Policy Term (Maturity Benefit) | Guaranteed Sum Assured on Maturity plus accrued Guaranteed Yearly Additions. On payment of this benefit, the Policy will terminate and no further benefit shall be payable. |
Guaranteed Cash Back Option
Benefit paid on Death (Death Benefit) | Sum Assured on Death less CARE Pay Benefit already paid, if any, plus Deferred Survival Benefits, if any, plus accrued Guaranteed Yearly Additions, if any. On payment of this benefit, the Policy will terminate and no further benefit shall be payable. |
|---|---|
Benefit paid during the policy Term on survival (Survival Benefit) | 15% of Guaranteed Sum Assured on Maturity shall be paid at the end of each 5th Policy Year, falling before the end of the Policy Term. |
Benefit paid at the end of the Policy Term (Maturity Benefit) | Guaranteed Sum Assured on Maturity less Survival Benefits already paid, if any, plus Deferred Survival Benefits, if any plus accrued Guaranteed Yearly Additions. On payment of this benefit, the Policy will terminate and no further benefit shall be payable. |
Key Definitions
1. Sum Assured on Death is defined as the higher of:
- 11 times the Annualized Premium
- 105% of Total Premiums Paid
- Guaranteed Sum Assured on Maturity
- Absolute amount assured to be paid on death (Sum Assured)
2.Annualized Premium is the Premium payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
3.Total Premiums Paid means total of all the premiums received, excluding rider premiums, underwriting extra premiums and taxes.
4.Absolute amount assured to be paid on death (Sum Assured) of the Life Assured is equal to Annualized Premium multiplied by the Death Benefit Factor, where the Death Benefit factor varies by age at entry of the Life Assured. Please refer the Policy Contract for further details on the Death Benefit factor.
5.Guaranteed Sum Assured on Maturity is equal to the sum of the Annualized Premiums payable under the Policy during the Premium Payment Term (i.e. Annualized Premium x Premium Payment Term).
For POS policies
(POS refers to Point of Sale)
There will be no medical underwriting for policies sourced through POS channel.
| Parameters | Minimum | Maximum | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Entry Age of Life Assured as on Last Birthday (In years) | 0 years | Guaranteed Savings Option: 55 years Guaranteed Cash Back Option: 50 years | ||||||||||
| Maturity Age of Life Assured as on Last Birthday (In years) | 18 years | 65 years | ||||||||||
| Premium Payment Term & Policy Term (in years) |
*Availability of Policy Term will be subject to Maturity Age being within 18 years and 65 Years, both inclusive. | |||||||||||
| Annualized Premium (in Rupees) | 6,000 per annum | 2,25,000 (subject to Sum Assured not exceeding ₹25,00,000) | ||||||||||
| Sum Assured (in Rupees) | 66,000 | 25,00,000 | ||||||||||
| Sum Assured on Maturity | Guaranteed Savings Option: Guaranteed Sum Assured on Maturity plus accrued Guaranteed Yearly Additions Guaranteed Cash Back Option: Guaranteed Sum Assured on Maturity less Survival Benefits already paid, if any, plus Deferred Survival Benefits, if any, plus accrued Guaranteed Yearly Additions | |||||||||||
| Premium Payment Mode and Modal Factors | Annual, Half-Yearly, Quarterly & Monthly modes are available
The Policyholder can choose to change the mode of premium payment subject to application of modal factor which shall be effective from the subsequent Policy Anniversary Date. | |||||||||||
For NON POS policies
| Parameters | Minimum | Maximum | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Entry Age of Life Assured as on Last Birthday (In years) | 0 years | Guaranteed Savings Option: 60 years Guaranteed Cash Back Option: 55 years | ||||||||||
| Maturity Age of Life Assured as on Last Birthday (In years) | 18 years | 75 years | ||||||||||
| Premium Payment Term & Policy Term (in years) |
*Availability of Policy Term will be subject to Maturity Age being within 18 years and 75 years, both inclusive. | |||||||||||
| Annualized Premium (in Rupees) | 6,000 per annum | No Limit; Subject to Board Approved Underwriting Policy | ||||||||||
| Sum Assured (in Rupees) | 66,000 | No Limit; Subject to Board Approved Underwriting Policy | ||||||||||
| Sum Assured on Maturity | Guaranteed Savings Option: Guaranteed Sum Assured on Maturity plus accrued Guaranteed Yearly Additions Guaranteed Cash Back Option: Guaranteed Sum Assured on Maturity less Survival Benefits already paid, if any, plus Deferred Survival Benefits, if any, plus accrued Guaranteed Yearly Additions | |||||||||||
| Premium Payment Mode and Modal Factors | Annual, Half-Yearly, Quarterly & Monthly modes are available
The Policyholder can choose to change the mode of premium payment subject to application of modal factor which shall be effective from the subsequent Policy Anniversary Date. | |||||||||||