Canara HSBC introduces flexible payout term insurance

It offers policyholders to increase coverage at key life milestones.

Canara HSBC Life Insurance launched Promise2 Protect, a new term insurance plan designed to offer flexible financial security solutions. 

The policy includes two variants: Life Secure, which provides pure protection, and Life Secure with Return of Premium, which refunds premiums if no claims are made during the policy term.  

Promise2Protect features Life Stage Enhancement, allowing policyholders to increase coverage at key milestones such as marriage, childbirth, or purchasing a home. 

It also offers a Flexible Death Benefit Payout, giving beneficiaries the option to receive the payout as a lump sum, in instalments, or a combination of both. 

The plan includes special exit value and coverage for both the policyholder and spouse under the same policy.