Canara HSBC Life Insurance has launched the Guaranteed one pay advantage plan, a non-linked, non-participating personal savings life insurance plan that offers simple premium payments and flexible tenure.

The product offers two insurance options – single life insurance and joint-life insurance. Customers also have the option of a loan facility should any unprecedented circumstances arise in their lives. Policy benefits are pre-guaranteed when the policy is in force. Products with guaranteed returns are bound to help customers achieve important life financial goals and create wealth in the long run, the company said.

The new product ensures the family’s financial security throughout the policy term, with guaranteed benefits as it matures. Customers looking for one-time worry-free savings can opt for the advantage of a guaranteed lump-sum payment, the company said, as the product will provide the insured or family with life protection and guaranteed maturity benefits regardless of market volatility.

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Anuj Mathur, MD and CEO of Canara HSBC Life Insurance, said: “With the launch of our new product, we aim to provide our customers with a simplified and balanced life insurance product, allowing them to enjoy an uncompromised life. Policy. “Based on the current market. Achieve their financial goals under any circumstances. One Pay will allow customers to protect themselves and their families with a single premium.”