iSelect Guaranteed Future

Canara HSBC OBC Life Insurance

Claim settlement ratio 98.44% (FY 2021-22)

Critical Illness Benefit Available

Tax Benefit Amount As per prevailing tax laws

Accidental Death Benefit 100%

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Overview of iSelect Guaranteed Future plan

The iSelect Guaranteed Future is a guaranteed savings plan available with life cover along with the feature of Payor Premium add-on coverage. This is a non-linked, non-participating Individual savings life insurance plan which ensures that your family members do not have to compromise on their dreams and aspirations even if you are not around to take care of them.

USP features of iSelect Guaranteed Future plan

  • The iSelect Guaranteed Future life insurance policy is a savings plus protection plan that allows the insured to select from the various plan options as per their income
  • The plans variants are namely; iAchieve and Flexi iAchieve, iAssure and Flexi iAssure, and Easy iAchieve
  • This guaranteed return plan is best for the financial security of your family as it allows assured savings for your family to fulfil their dreams and goals
  • The Policyholder under this plan can avail loan facility against the amount deposited
  • The Canara HSBC iSelect Guaranteed Future plan also offers tax benefits under the Income Tax Act of 1961

What’s not covered under iSelect Guaranteed Future plan?

  • The death benefit offered under the iSelect Guaranteed Future plan is subject to suicide exclusion.
  • Hence, if the death of the policyholder takes place due to suicide within the first 12 months of the policy purchase, the nominee will receive 80% of premiums paid till the time of death.
  • Also, the same will apply in case of policy revival date. So, if the insured commits suicide within one year of policy revival, the death benefit received by the nominee would be 80% of total premiums paid till death
  • However, if the respective surrender value till death is higher than the 80% of total premiums paid, the nominee of the policyholder would receive surrender value under the plan
Frequently asked questions

Being a savings cum life insurance plan, the iSelect Guaranteed Future Policy offers 5 different variants to choose from, such as iAchieve, Flexi iAchieve, iAssure, Flexi iAssure, and Easy iAchieve. Be it any plan you choose, you would get life cover together with guaranteed maturity benefit and/or survival benefit.

It is a voluntary cover that is in-built. As per the Payor Premium cover, if the insured dies, all the premiums to be paid in the future would be waived off, while the policy would still stay active.

Guaranteed maturity is the benefit that is offered as the assured lump sum pay that is offered at maturity. The money that is offered as guaranteed maturity to the policyholder or beneficiaries is fixed at the time of policy purchase.

The payout is given as a lump sum or monthly pay. You can also opt for part lump sum and part monthly pay income under the plan.

You can buy the plan online via the official website of the insurer or via any partner website.

Yes, you can revive the iSelect Guaranteed Future Plan within 5 years of the date of last unpaid premium, as per the specified terms of the policy.

* Tax benefits are subject to changes in tax laws.
#All savings are provided by the insurance company as per the IRDAI approved insurance plan. Standard T&C apply.