Canara HSBC Child Plan

The Canara HSBC Child Plan is an investment option that offers a combination of savings and protection benefits tailored to meet the evolving needs of your child as they grow. These plans aim to build a solid foundation for building a secure financial future for your child.

Read more
Investing in your child's future:A wise decision & a loving choice
Benefits of Investing In Child Plan
Waiver of Premium Benefit
Future Premiums are paid by the insurer upon death of policyholder
Flexible Payout Options
Your premiums help your child achieve their dreams through lump sum or regular payouts
Wealth Boosters
Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us
Zero Commission
We charge no commission when you buy from us. Also buy online & get extra
Tax Benefits^
You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)
Investment Flexibility
It offers the flexibility to invest at regular intervals or as a one-time contribution
Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr# Tax-Free* on Maturity

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
Get Updates on WhatsApp
We are rated~
rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

What is the Canara HSBC Child Plan?

Canara HSBC Child Plan is a type of insurance plan offered by Canara HSBC Life Insurance that is designed to help parents save for their child's future education and provide financial protection in case of the parent's death.

Features of Canara HSBC Child Plan

  • Flexibility: Some plans allow customization of premium payment, policy term, and sum assured to suit specific needs and budgets.

  • Premium Payment Flexibility: Choose regular, single, or limited-pay premium options to fit your budget.

  • Sum Assured: Customize the sum assured to meet your desired financial coverage level.

  • Plan Options: Choose from traditional endowment plans, unit-linked plans (ULIPs), or government-sponsored plans to suit your risk appetite and goals.

  • Policy Term Options: Select a policy term that aligns with your child's age and future milestones.

  • Partial Withdrawals: Certain plans allow tax-free partial withdrawals after a specific period to address unexpected needs.

Benefits of Canara HSBC Child Plan

The key benefits of Canara HSBC child plans are listed below:

  • Education Milestones: Specific plans offer guaranteed payouts aligned with crucial education milestones, like higher education expenses.

  • Riders: Add optional riders like critical illness cover, accidental disability cover, or waiver of premium for enhanced protection.

  • Loyalty Additions & Bonuses: Some plans offer loyalty additions and bonuses on top of guaranteed benefits.

  • Guaranteed Benefits: The Canara Child Plans ensure fixed payouts for education or maturity, offering peace of mind to parents.

  • Life Cover: Parents' plans include life cover, providing a lump sum for the child's needs if the parent passes away.

  • Tax Benefits: Premiums are tax-deductible under Section 80C, and maturity proceeds are tax-free as per certain conditions under Section 10(10D).

Investment Investment
Secure Secure
Child Banner
Secure your child’s future with or without you
Start Investing
â‚ą10,000/Month
& Get
â‚ą1 Crore*
*Standard T & C Apply

List of Canara HSBC Child Plan

The popular Canara HSBC Life Insurance child plans are listed in the following table:

Aviva Life Child Plan Entry Age Maximum Maturity Age Premium Payment Term (PPT) Policy Term (PT) Minimum Annualised Premium (in Rs.) Tax Benefits u/ IT Act, 1961
Canara Smart Junior Plan 18 – 50 years 70 years 13 – 25 Year PT: PT minus (-) 8 years;
12/15/20 Year PT: 5 years;
19 – 25 Year PT: 10 years
12 – 25 years ₹3,00,000 Section 80C and Section 10(10D)
Canara HSBC Invest 4G Plan (Life Option) 0 – 65 years 18 – 80 years Single Pay;
Limited Pay: 5 to PT minus (-) 1;
Regular Pay: Same as PT.
Single Pay: 5 – 30 years (depending on Entry Age);
Limited/ Regular Pay: 10 – 30 years
Single Pay: â‚ą1,00,000;
Limited/ Regular Pay: â‚ą24,000
Section 80C and Section 10(10D)
Invest More Get More
Invest â‚ą10K/Month YOU GET â‚ą1 Crores* For Your Child View Plans
Invest â‚ą8K/Month YOU GET â‚ą80 Lakhs* For Your Child View Plans
Invest â‚ą5K/Month YOU GET â‚ą50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Sukanya Samriddhi Yojana Calculator

Details of Canara HSBC Child Plan

  1. Canara HSBC Smart Junior Plan

    The Canara HSBC Smart Junior Plan is a financial product designed to help parents or guardians save and invest for their child's future financial needs, such as education expenses, marriage, or other long-term goals. It typically combines life insurance coverage with investment options to provide both protection and wealth accumulation benefits.

    Features of Canara HSBC Smart Junior Plan:

    This insurance plan offers several benefits tailored to secure your child's future:

    • Guaranteed Payouts: During the final 5 years of the policy, you'll receive guaranteed payouts. These coincide with your child's educational milestones, providing financial support regardless of market conditions.

    • Limited Premium Payment Term: Opt for a limited premium payment term, streamlining your financial obligations to focus on other goals in later years.

    • Policy Loans: Access policy loans after a specified duration, offering financial flexibility when needed.

    • Loyalty Additions: By maintaining the policy for a certain duration, you may qualify for loyalty additions, further enhancing the policy's benefits.

  2. Canara HSBC Invest 4G Plan

    The Canara HSBC Invest 4G Child Plan is a comprehensive savings and investment plan designed to secure your child's future financial needs. It offers a combination of life insurance coverage and investment opportunities to help you build a corpus for your child's education, career, and other milestones.

    Features of Canara HSBC Invest 4G Plan:

    • Investment Opportunities: Choose from various unit-linked funds to match your risk tolerance and investment goals.

    • Riders: Add-on benefits like accidental death, disability, and critical illness coverage are available.

    • Maturity Benefits: Receive the fund value plus bonuses upon policy maturity.

    • Tax Benefits: Enjoy tax savings on premiums paid under Section 80C of the Income Tax Act.

    • Flexibility: Pay premiums monthly, quarterly, half-yearly, or annually. Adjust the sum assured and switch between funds as needed during the policy term. 

Unique Triple Benefit
  • Future premiums paid by insurer on parent's death
  • Monthly income to fund child's education on parent's death
  • Lumpsum payout to family on parent's death
Returns
  • Return as of Apr 2024
  • 12%-15%
  • 8.2%
  • 7.1%
Availability
  • Availability
  • Girl Child or Boy Child
  • Girl child only
  • Girl Child or Boy Child
  • Max Entry Age
  • Upto 18 years
  • Upto 10 years
  • No Age Limit
Flexibility
  • Invested Amount can be Withdrawn after
  • 5 years
  • 21 years
  • 15 years
  • Conditions for Premature closure
  • Anytime after 5years
  • Extreme Compassionate Grounds
  • Serious Ailments or for education
  • Penalty on Premature Closure
  • No Penalty after 5 years
  • Returns reduced to Post Office Savings rate
  • 1% reduction in interest rate
  • Max deposit amount in an year
  • No Limit
  • 1.5 Lacs
  • 1.5 Lacs
Documentation
  • Documentation Required for Withdrawal
  • Low
  • High
  • Low
View Plans

In Summary

The Canara HSBC Child Plan offers a comprehensive solution for securing a child's future with its blend of insurance and investment options. The company stands as a robust choice for parents seeking to safeguard their children's future aspirations by focusing on financial protection and wealth accumulation.

Canara HSBC Child Plans - FAQs

  • Which is the best child plan in Canara Bank?

    Canara Bank offers a variety of child plans to suit different risk appetites and financial planning:
    • Canara Guaranteed Income4Life

    • Canara Guaranteed Savings Plan

    • Canara Money Back Advantage Plan

    • Canara Smart Junior Plan

    • Canara HSBC Invest 4G Plan

  • What is the plan of Canara Bank for a girl child?

    While Canara Bank offers various child plans, they have two specific options designed specifically for girl children:
  • How to pay a premium? What are the modes of payment available?

    The Canara HSBC Oriental Bank of Commerce Life insurance company Ltd. offers 2 modes of premium payment namely:
    • Online Payment

    For the online payment mode, the policyholder can pay via;

    • Credit Card,
    • Debit Card
    • Net banking
  • How can I check policy status for Canara HSBC child plans?

    Regisitered users can check their policy status online by loging into e-Portal
  • What is the policy renewal process for Canara HSBC child plans?

    You can pay your renewal premium in 5 easy steps online, if you are a registered user:

    Step1: Enter your Client ID and Date of Birth to login into e-portal

    Step2: Choose the policy for which you want to pay

    Step3: Select the payment option – Debit/Credit Card or Net Banking to pay

    Step 4: Upon successful payment completion print/save the premium deposit receipt

  • What is the company’s process to settle claim for Canara HSBC child plans?

    The nominee can visit the branch personally with the policy document and death certificate. The nominee must fill a claim intimation form and then the company will provide a reference number to him. Usually within the 30 days the death claim without investigation cases gets cleared.
  • What is the policy cancellation process for Canara HSBC child plans?

    You can the nearest branch personally with your policy documents and a duly filled surrender form. Upon successful acceptance at the counter, your policy will be cancelled and refunds directly credited in your bank account.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

Child Plan

Investment

Child Plan

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Insurers Offering Child Plans

Tata AIA

Aditya Birla Sun Life

Bajaj Allianz

Max Life

HDFC Life

ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

PNB MetLife

SBI Life

Aviva

Bandhan Life

IDBI Federal

IndiaFirst

Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

View more insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan 2
Average Rating
(Based on 266 Reviews)

Child plans articles

Recent Articles
Popular Articles
Indian Bank- Sukanya Samriddhi Yojana Calculator

08 Jan 2025

The Indian Bank- Sukanya Samriddhi Yojana (SSY) is a
Read more
Sukanya Samriddhi Yojana- Central Bank of India Calculator

08 Jan 2025

The Sukanya Samriddhi Yojana (SSY) is a government-backed
Read more
Canara Bank- Sukanya Samriddhi Yojana Calculator

08 Jan 2025

The Sukanya Samriddhi Yojana (SSY) is a government-backed
Read more
Bank of Maharashtra- Sukanya Yojana Calculator

08 Jan 2025

The Sukanya Samriddhi Yojana (SSY) is a government-backed
Read more
Sukanya Samriddhi Yojana Calculator Bank of India

08 Jan 2025

The Sukanya Samriddhi Yojana Calculator- Bank of India is a tool
Read more
Top 12 Government Schemes for Girl Child
  • 29 Apr 2022
  • 107046
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
Ponmagan Podhuvaippu Nidhi Scheme (PPNS)
  • 24 May 2023
  • 42677
Post Office Ponmagan Podhuvaippu Nidhi scheme is a social welfare initiative introduced by the Tamil Nadu
Read more
Prime Minister Schemes For Boy Child
  • 05 Apr 2022
  • 21088
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
  • 09 Jul 2021
  • 41013
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
SBI Smart Scholar Returns Calculator
  • 15 Mar 2022
  • 15618
SBI Life Smart Scholar is an insurance scheme specifically designed to address the needs of a growing children
Read more

Canara HSBC Child Plans Insurance Reviews & Ratings
4.5 / 5 (Based on 266 Reviews)
(Showing Newest 10 reviews)
Pariniti
Srinagar, January 16, 2025
Good
Recently i bought a child insurance for my child from pnb metlife life insurance. The policy having great plans with low premiums. The policy coverage are really good ~91% and the services are good and on time. The claims are the best among all. Good future investment and it save taxes too. Really happy with the policy.
Harish
Kanyakumari, January 16, 2025
Nice
I have policy for my children from pnb metlife insurance child plan. The plan has low premiums and high returns. The policy coverage is high ~92% and the claim is Rs.39 L. Service is also nice with good and on time availability. Nice future investment and it saves taxes too.
Karan
Mussorie, January 16, 2025
Fair plan
Finally found the policy for my child and buy it and the plan is pnb metlife child insurance policy plan. The policy coverage is high ~87% and the premiums are low. The service provided by you guys is superb and the behaviour of your staff is great with good response. Nice future investment with tax saving.
Devesh
Pilani, January 16, 2025
Satisfactory
I own child policy plan which i buy from pnb metlife insurance. Policy have various benefits but the policy coverage is the best. Approx. 91% is covered in the policy. Claims are high and the premiums are low. Service is good. Nice future investment which saves tax also. The behaviour of executives are also great. I like the policy plan.
Ishant
Firozabad, January 16, 2025
Power Plan
My child policy plan is with pnb metlife insurance. The policy premium is low and the policy coverage is high ~93%. The service is fast and the claiming is become easy without any paper work. The payback amount is around Rs.43 L after policy get mature. Nice future security and it save tax also.
Ojasvi
Calicut, January 16, 2025
Fair Policy
Superb child policy plan which provided by pnb metlife life insurance. The policy coverage is 84% and the claims are ~Rs.39 L after policy ends. The investment is ~Rs.27 K quarterly per year till policy end. Services are great and fast too. Great work guys. I like the policy plan.
Saajid
Indore, January 16, 2025
Perfect
I buy child policy plan with pnb metlife life insurance which has very good policy coverage ~ 92.1%. The service is also good, fast and on time. The claims are high ~ 44 L and claiming process is easy because the executive and staff members providing good response and quick services. Nice work great policy.
Anirudh
Jaipur, January 16, 2025
Fine Child Policy
The best child policy plan i bought from pnb metlife life insurance and the policy plan is awesome. The policy coverage is 96% and the claims are 41 L after policy get mature. The investment is low and the returns are high. Good future plan with tax protection. I like my policy very much.
Lovish
Jhansi, January 16, 2025
Really Good
My child policy plan is very good and the insurer is pnb metlife life insurance. The policy has many benefits like good investments for future and it save taxes also. Policy coverage is 92% and the claims are around 47 L after policy ends. Fair Terms and Conditions. I like the policy plan.
Suraj
Ooty, January 16, 2025
Above Average
I purchase child policy plan from pnb metlife life insurance. The policy coverage is 93.3% and the claims are good with low premiums. Service you provided is very quick and the behaviour of the executives and staff members is nice. Good future investment and it reduces taxes also. Nice policy plan. I like it.
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL