Why choose a Health First Plan?
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Option to cover yourself against heart ailments, cancer conditions or pre-defined major critical illnesses
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High coverage at affordable premiums
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Increasing cover option to take care of increasing medical needs
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Lump sum payout on the first diagnosis of illness irrespective of actual amount spent on treatment
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Waiver of all future premiums on first diagnosis of minor conditions included within Cancer and Heart Cover
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Option of additional monthly income in case of diagnosis of a major heart/major cancer condition or any major critical illness
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Tax Benefits1 under Section 80C and Section 10(10D), as per the Income Tax Act, 1961 as amended from time to time, may be available
Plan UIN no.:
136N051V03
Ways to open:
Branch, Online
1Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. Please conduct your independent assessment of the applicable tax implications and contact your tax advisor for any tax related queries.
Benefits
The product has the following options to choose from:
- Major Critical Illness Cover: Get cover against 26 pre-defined major critical illnesses. The benefit is payable irrespective of the actual expenses incurred by you. This product provides a lump sum payout equal to the applicable Sum Assured on first diagnosis of a major critical illness or first performance of any of the listed surgeries in relation to a major critical illness. On the payment of the applicable Sum Assured, coverage will terminate immediately.
- Heart Cover and Cancer Cover: The benefits payable under Heart or Cancer Cover (as applicable) will be paid as a lump sum upon first diagnosis of any of the illnesses/ first performance of any of the covered surgeries. The payout depends on the severity of the diagnosed condition (major/minor) and claims previously admitted under this Policy. If the Life Assured is diagnosed with Cancer or Heart disease of defined severity, a percentage of the applicable Sum Assured will be paid, as per the below schedule:
Condition/Cover | Cancer Cover | Heart Cover |
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Minor condition | 25% of applicable Sum Assured for Cancer Cover |
25% of applicable Sum Assured for Heart Cover |
Major condition (after occurrence of minor condition claim) | 75% of applicable Sum Assured for Cancer Cover |
75% of applicable Sum Assured for Heart Cover |
Major condition (without occurrence of any minor condition claim) | 100% of applicable Sum Assured for Cancer Cover |
100% of applicable Sum Assured for Heart Cover |
Condition/Cover | Minor condition |
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Cancer Cover |
25% of applicable Sum Assured for Cancer Cover |
Heart Cover |
25% of applicable Sum Assured for Heart Cover |
Condition/Cover | Major condition (after occurrence of minor condition claim) |
Cancer Cover |
75% of applicable Sum Assured for Cancer Cover |
Heart Cover |
75% of applicable Sum Assured for Heart Cover |
Condition/Cover | Major condition (without occurrence of any minor condition claim) |
Cancer Cover |
100% of applicable Sum Assured for Cancer Cover |
Heart Cover |
100% of applicable Sum Assured for Heart Cover |
Only one claim is permissible under each of these conditions (major/minor).
- Premium waiver benefit: In Heart and Cancer Cover the plan continues even after the first pay out for a minor condition claim is made, without you having to pay any future premiums for the applicable coverage under which the claim is made.
- Increasing Cover option: You have the option of taking Increasing Cover under all the three plans (Major Critical Illness Cover, Heart Cover, and Cancer Cover) at proposal stage. Under Increasing Cover option, the initial Sum Assured increases by 10% (simple rate) every year starting from the first policy anniversary, until the first claim is made. The Sum Assured can go up to a maximum of 150% of the initial Sum Assured. However, in case of Heart Cover, under Increasing Cover option, the maximum cover is subject to a cap of INR2.5 million.
- Monthly income benefit option: Get an additional benefit of 1% of initial Sum Assured every month for 5 years (i.e. 60 months) following the date of diagnosis of a Major Heart/Cancer condition/Major Critical Illness (as applicable), to help your family deal with the loss of income. This monthly income payment is over and above the lump sum paid on diagnosis of the illness/ condition, and will continue to be paid to your nominee for the total defined period of 5 years, even in case of your unfortunate death.
About the Plan
Canara HSBC Life Insurance Health First Plan provides you with a lump sum amount on the occurrence of the chosen insured event(s), i.e., Heart, Cancer related conditions and pre-defined 26 major critical illnesses.
Entry age | Minimum | Maximum |
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Entry age | 18 years | 65 years |
Entry age | Entry age |
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Minimum | 18 years |
Maximum | 65 years |
Maturity age | Minimum | Maximum |
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Maturity age | 23 years | 80 years |
Maturity age | Maturity age |
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Minimum | 23 years |
Maximum | 80 years |
Sum Assured | Minimum | Maximum |
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Sum Assured | Major Critical Illness: INR0.5 million
Heart Cover: INR0.5 million
Cancer Cover: INR0.5 million |
Major Critical Illness - INR5 million
Heart Cover- INR4 million
Cancer Cover- INR5 million |
Sum Assured | Sum Assured |
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Minimum |
Major Critical Illness: INR0.5 million
Heart Cover: INR0.5 million
Cancer Cover: INR0.5 million |
Maximum |
Major Critical Illness - INR5 million
Heart Cover- INR4 million
Cancer Cover- INR5 million |
Policy Term | Minimum | Maximum |
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Policy Term | 5 years | 40 years, subject to maximum maturity age of 80 years |
Policy Term | Policy Term |
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Minimum | 5 years |
Maximum | 40 years, subject to maximum maturity age of 80 years |
Premium payment term | Maximum |
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Premium payment term | Same as Policy Term |
Premium payment term | Premium payment term |
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Maximum | Same as Policy Term |
Premium | Maximum |
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Premium | Depending on chosen Sum Assured, and subject to Underwriting |
Premium | Premium |
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Maximum | Depending on chosen Sum Assured, and subject to Underwriting |
Premium payment mode and modal factors | N/A |
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Premium payment mode and modal factors | Annual & monthly modes are available In case of monthly mode, annual premium needs to be multiplied with a factor of 0.09 to arrive at the payable monthly installment premium. |
Premium payment mode and modal factors | Premium payment mode and modal factors |
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N/A |
Annual & monthly modes are available In case of monthly mode, annual premium needs to be multiplied with a factor of 0.09 to arrive at the payable monthly installment premium. |
Survival Period | Cover Options |
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Survival Period | Cancer Cover: Benefits under cancer cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions under Cancer Cover. This means that the insured has to survive 7 days from the "full histopathological diagnosis" of the cancer condition, including stage and grading. |
Survival Period | Heart Cover: Benefits under Heart Cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions/first performance of any of the covered surgeries under Heart Cover. |
Survival Period | Major Critical Illness Cover: Benefits under Major Critical Illness Cover will be payable only if the Life Insured survives for a period of 15 days from the date of diagnosis of any of the covered illnesses / first performance of any of the covered surgeries. |
Survival Period | Survival Period |
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Cover Options |
Cancer Cover: Benefits under cancer cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions under Cancer Cover. This means that the insured has to survive 7 days from the "full histopathological diagnosis" of the cancer condition, including stage and grading. |
Survival Period | Survival Period |
Cover Options |
Heart Cover: Benefits under Heart Cover will be payable only if the Life Insured survives for a period of 7 days from the date of diagnosis of any of the listed conditions/first performance of any of the covered surgeries under Heart Cover. |
Survival Period | Survival Period |
Cover Options |
Major Critical Illness Cover: Benefits under Major Critical Illness Cover will be payable only if the Life Insured survives for a period of 15 days from the date of diagnosis of any of the covered illnesses / first performance of any of the covered surgeries. |
Key things you should know
- This is a traditional non-linked, non-participating fixed benefit health insurance plan which provides comprehensive coverage for the chosen Policy Term
- Non-resident customers should buy this product taking into consideration the statutory and regulatory requirements of their respective jurisdictions and shall ensure compliance with the same. By facilitating purchase of this product, The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) makes no representation that the product is suitable for any particular customer or is appropriate in accordance with the legal or regulatory regime of any other country/region.
- Please pay your premiums regularly and on time to enjoy continued benefits under the Policy. If you fail to pay your premiums within the grace period of 30 days (15 days for monthly mode) from the due date, then your policy will lapse at the expiry of the grace period and the benefits will cease immediately.
- No death benefits are applicable for this Policy.
- You must disclose all your details (including health details) completely and correctly in the proposal form.
- Purchase of insurance product is purely voluntary and is not linked to availing of any other facility from HSBC India.
- The contract of insurance is between the Insurer and the insured and not between the Bank and the insured.
- For the key exclusions and to have a complete understanding of the Policy details, please refer to the Health First Plan Brochure and Key Features Document. Please note that the “Return Of Premium Option”, described in the Health First Plan Brochure is not being offered by HSBC India.
- Acceptance of the application will be subject to underwriting as per Insurer's board approved underwriting policy.
Product Brochure
Apply for a Health First Plan
Apply now for a Health First Plan
Important Information
Terms and Conditions
- This product would not be offered to customers having residence in Japan or nationality of Japan.
- Insurance is the subject matter of solicitation.
- The Insurance product is offered and underwritten by the insurer Canara HSBC Life Insurance Company Limited (CHL) (IRDA Regn. No. 136), 139 P, Sector 44, Gurugram – 122003, Haryana, India.
- The Hongkong and Shanghai Banking Corporation Limited, India (IRDAI Regn. No. CA0016) whose India corporate office is at 52/60, M. G. Road, Fort, Mumbai 400 001, is the Corporate Agent of Canara HSBC Life Insurance Company Limited and does not underwrite the risk or act as an insurer.
- You may also reach out to the insurer, Canara HSBC Life Insurance Company Limited at the contact details given below:
Website: www.canarahsbclife.com
Call: 1800-103-0003/1800-180-0003 Mahanagar Telephone Nigam Limited (MTNL) / Bharat Sanchar Nigam Limited (BSNL)
E-mail: customerservice@canarahsbclife.in
SMS your query to: 9779030003 to get a call back within 48 hours - BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premium
Public receiving such phone calls are requested to lodge a police complaint.