C A N A R A H S B C L I F E I N S U R A N C E

iSELECT GUARANTEED FUTURE

A Non-Linked Non-Participating Individual Savings Life Insurance Plan

Select your dreams, and

guarantee them with our promise

iAchieve
Life Cover Payor Premium Guaranteed Benefit at
Protection Cover1 Maturity2
Life is better with guarantees. With Canara HSBC Life Insurance iSelect Guaranteed Future, which is a Non-Linked Non-Participating
Individual Savings Life Insurance Plan , you can enjoy a host of guaranteed benefits.
Key bene of the plan:
1 Protection for your loved ones: Life cover throughout the policy term

2 2 2

2
3

1
4

5 Pay as you like

6 Tax benefits3 may be available as per prevailing Tax Laws

1
Available under iAchieve option.2Conditions Apply - Provided all premiums are paid as and when due.3Tax benefits under this plan will be as per the prevailing Income Tax laws and are subject to
amendments from time to time. For tax related queries, contact your independent tax advisor. For more details, refer to the web brochure for all key benefits under the product.
•

Purchase of any insurance product by a bank’s customer is purely voluntary and is not linked to availment of any other facility from the bank.

UIN: 136N081V02 MIS5NJIGFCHONOV22 ENG

 Illustration Number :80008865024
Illustration Version :1.0

Dear Deep Jyoti Cus,

Thank you for showing interest in our Canara HSBC Life Insurance iSelect Guarantee Future.
Based on the details provided by you, and reproduced below, the illustration customised to your requirements is appended.
Date: 25-Jul-2023
Name of the Prospect/ Policyholder: Deep Jyoti Cus
Age & Gender: 41,Male
Name of the Life Assured: Deep Jyoti Cus
Age & Gender: 41 Male
Premium Payment Term 10 years
Policy Term 20 years
Amount of Instalment Premium Rs. 3,00,000
Mode of Payment of Premium Annual
Payor Premium Protection Cover No
Staff Yes
Corporate Customer No

Proposal number NA

Name of the product: Canara HSBC Life Insurance

iSelect Guaranteed Future
Tagline A Non-Linked Non-Participating Individual Savings Life Insurance Plan
Unique Identification No: 136N081V02
GST Rate (Year 1) 4.50%
GST Rate (Year 2 onwards) 2.25%
This benefit illustration is intended to show year-wise premiums payable and benefits under the policy.
Policy Details
Policy Option iAchieve
Sum Assured on Death 33,00,000
(at inception of the policy in )

Benefit Details
Guaranteed Sum Assured on Maturity 30,00,000
Total Accrued Additions till Maturity 50,82,300
High Premium Addition 6,99,000
(in )
Premium Summary

Base Plan Premium Total

Without Discount Staff Discount Corporate Discount Rider Instalment
Premium
Instalment Premium without GST 3,00,000 45,000 0 0 2,55,000
Instalment Premium in First Year with GST 3,13,500 47,025 0 0 2,66,475
Instalment Premium 2nd year onwards with GST 3,06,750 0 0 0 3,06,750
(in )

Page No. 1 Production Release Channel Name : Direct Proc hub : HO-Gurgaon Curr Res State : UTTAR PRADESH Version 1.0.0 S Illustration Number : 80008865024
 (Amount in Rs.)

Guaranteed Non Guaranteed

Policy Annualized
Year Premium Survival Benefits/ Loyalty Other Maturity Death Minimum Guaranteed Special
Additions * Benefits, if any Benefit # Benefit # Surrender Value Surrender Value
1 3,00,000 0 0 0 39,99,000 0 0
2 3,00,000 0 0 0 39,99,000 1,66,500 1,25,052
3 3,00,000 0 0 0 39,99,000 2,99,250 2,03,351
4 3,00,000 0 0 0 39,99,000 5,77,500 3,03,618
5 3,00,000 0 0 0 39,99,000 7,71,150 4,18,907
6 3,00,000 0 0 0 39,99,000 9,65,250 5,49,217
7 3,00,000 0 0 0 39,99,000 11,91,900 7,20,272
8 3,00,000 0 0 0 39,99,000 14,36,550 8,84,380
9 3,00,000 0 0 0 39,99,000 16,72,650 10,96,744
10 3,00,000 0 0 0 39,99,000 19,50,300 13,31,640
11 0 0 0 0 39,99,000 20,38,950 14,79,600
12 0 0 0 0 39,99,000 20,98,050 16,27,560
13 0 0 0 0 39,99,000 21,86,700 17,75,520
14 0 0 0 0 39,99,000 22,75,350 19,60,470
15 0 0 0 0 39,99,000 23,34,450 21,45,420
16 0 10,16,460 0 0 50,15,460 24,94,252 30,17,894
17 0 10,16,460 0 0 60,31,920 26,94,713 40,69,663
18 0 10,16,460 0 0 70,48,380 29,06,282 52,63,736
19 0 10,16,460 0 0 80,64,840 31,88,059 66,77,762
20 0 10,16,460 0 87,81,300 90,81,300 34,21,845 83,42,235

* Guaranteed Addi ons is the addi onal benefit which will accrue at the beginning of each Policy Year in the last five years of the Policy Term,
provided all due premiums have been paid (as displayed in the illustra on above). Accrued Guaranteed Addi ons is payable in case of death of the Life
Assured during the Policy Term or at Maturity.
The Death Benefit and Maturity Benefit displayed above are inclusive of High Premium Addition of Rs. 6,99,000
Notes:
1. Annualized Premium excludes underwri ng extra premium, frequency loading on premiums, the premiums paid towards the riders, if any and Goods
& Services Tax.
2. Surrender values and death benefit have been calculated assuming the event occurring at the end of the policy year.

Important Notes
1. Maturity Benefit is the benefit payable on survival of Life Assured ll maturity, which is sum of Guaranteed Sum Assured on Maturity, accrued
Guaranteed Additions, if any, and High Premium Addition, if any.
2. Death Benefit payable in case of death of the Life Assured - Sum Assured on Death plus accrued Guaranteed Addi ons, if any plus High Premium
Addition, if any. No other benefit will be payable and policy will terminate on payment of death benefit.
Where Payor Premium Protec on Cover has been chosen and Life Assured and Policyholder are the same, on death of the Life Assured, Sum Assured
on Death will be paid and all future premiums will be waived off and the Policy shall con nue ll Maturity with all future benefits accruing as if the
Policy was in-force.
Where Payor Premium Protec on Cover has been chosen and Life Assured and Policyholder are different, on death of the Policyholder, all future
premiums will be waived off and the Policy shall continue till Maturity with all future benefits accruing as if the Policy was in-force.
Where, Sum Assured on Death is defined as higher of a) Sum Assured i.e. 11 times the Annualized Premium b) 105% of the Total Premiums Paid.

3. Installment premium mentioned is inclusive of loadings for modal premiums and underwriting extra premium, if any.
4. Total Premiums Paid means total of all the premiums received, excluding rider premiums, underwriting extra premiums and taxes.
5.A Policy shall acquire lapse status if the Policyholder fails to pay due premium within the grace period in the first 2 consecu ve Policy years. In such
case your Policy will lapse at the expiry of the grace period and the insurance cover will cease immediately. No benefit shall be payable upon death or
upon your request for termination of the Policy or on the expiry of the revival period.

Other points to note:

1. This is a tradi onal plan intended for long term savings and benefits. It is strongly advised that the Policy should be con nued throughout the
defined Policy term to realise the full benefits. If premiums are discon nued a er payment of at least first 2 consecu ve Policy years’ premiums then

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 the Policy will acquire a Paid-up value. You will receive this Paid-up value on death or on maturity, provided you have not surrendered or revived the
Policy.
2. Your Policy will acquire a guaranteed surrender value (GSV) a er payment of at least first 2 consecu ve Policy years’ premiums. However, the
Company may offer a special surrender value (SSV), and higher of {GSV or SSV} will be paid on surrender. The Illustration shows both the GSV as well as
the current SSV payable on surrender of the Policy. SSV scales may be revised in the future by the Company with the prior approval of the Authority.
3. Premiums payable and benefits receivable under this plan may be eligible for tax benefits as per the prevailing tax laws subject to amendments
from time to time.
4. The illustrated premium is for a healthy individual with standard premium rates. Your applica on will be assessed as per Board approved
underwriting Policy of the Company. Basis underwriting, it may result in extra premium to be paid, which shall be borne by you.
5. The illustra on takes into account currently applicable Goods and Services Tax & applicable cess (es)/other levy, if any. However, the applicable
taxes may change from time to time and total premium payable will change accordingly.
6. For more details on product features and terms and condi ons please read sales brochure and sample Policy contract carefully before concluding a
sale.
7. Insurance is the subject matter of solicitation

Disclosures:
There is no commission payable if the policy is sourced through Direct Sales or Online.

I, ___________________________ (name), have explained the I, ___________________________ (name), having received the
premiums, charges and benefits under the product fully to the prospect informa on with respect to the above, have understood the above
/ policyholder statement before entering into the contract

Place:
Date: Signature of Agent/ Intermediary/ Official Date: Signature of Prospect / Policyholder

Page No. 3 Production Release Channel Name : Direct Proc hub : HO-Gurgaon Curr Res State : UTTAR PRADESH Version 1.0.0 S Illustration Number : 80008865024