New-age term protection plan offers comprehensive life cover, spouse protection, return of premium option, critical illness coverage, wellness benefits, online will preparation, and flexible death benefit payout option
Canara HSBC Life Insurance Company Limited (“Canara HSBC Life Insurance”) has announced the launch of Promise2Secure, a comprehensive non-linked, non-participating individual pure risk premium life insurance plan, thoughtfully designed to help individuals and families safeguard their financial future against life’s uncertainties.
As financial responsibilities grow increasingly complex, Promise2Secure reimagines traditional protection by offering a more holistic proposition, integrating life coverage with multiple layers of protection and value-added services. The plan goes beyond by combining life cover with protection against accidental death and disability, critical and terminal illnesses, and child future security. It also extends the protection proposition by offering health and wellness services, as well as legacy planning support, through value-added services provided through 3rd party providers. The product is available under two plan options: Life Secure and Life Secure with Return of Premium, enabling customers to align their protection strategy in line with their preferences.
Commenting on the launch, Rishi Mathur, Chief Marketing Officer and Chief Distribution Officer – Alternate Channels, Canara HSBC Life Insurance, said, “Today’s customers are seeking protection solutions that go beyond basic financial security to solve for their key needs across life stages. Basis market insight, Promise2Secure has been carefully crafted to meet these evolving expectations. The product brings together comprehensive protection, wellness benefits, and legacy planning support in a single, integrated offering. It provides true flexibility with deferment options, lock in of rates and add-on coverage for accidents and critical illness. Combined with the plan’s affordability and enhanced coverage options, Promise2Secure empowers customers to protect what matters most and plan confidently for their family’s future.”
A key feature of Promise2Secure is its ability to enable early life protection, allowing customers to lock in favourable premium rates for the entire policy term, for increased cover up to twice the original coverage. The plan also offers flexibility to enhance coverage in line with key life milestones such as marriage, parenthood, or home ownership — ensuring that protection keeps pace with changing responsibilities.
Key Highlights of Canara HSBC Life Insurance Promise2Secure:
- Comprehensive life protection with coverage options for both self and spouse
- Choice between Life Secure and Life Secure with Return of Premium variants. Return of total premiums paid on survival under the Return of Premium option
- Premiums locked at inception, with an option to increase sum assured by up to 100% within the first five years through Block Your Premium rate.
- Protection against accidental death, total and permanent disability, and 40 specified critical illnesses
- Waiver of future premiums upon diagnosis of terminal illness
- Child Care Benefit to support a child’s financial future in the event of an unforeseen loss
- Flexible death benefit payout options: lump sum, monthly income, or a combination of both
- Insta payout feature for eligible death claims
- Premium deferment facility for up to 12 months without impacting risk cover
- Complimentary health and wellness ecosystem including teleconsultations, diagnostics support, health assessments, and fitness services
- Online will preparation for seamless legacy planning
Further enhancing its adaptability, the plan offers both level cover and increasing cover options. Under the increasing cover feature, the sum assured grows by 10% annually—up to 100% of the original sum assured over a ten-year period—helping customers stay aligned with rising financial obligations and inflationary pressures.
With Promise2Secure, Canara HSBC Life Insurance reinforces its commitment to delivering customer-centric protection solutions that remain relevant in a dynamic environment, bridging present security with future preparedness, and making insurance more comprehensive, accessible, and meaningful for modern consumers.