Overview
On July 29, 2026, Canara HSBC Life Insurance Company Limited announced the launch of Promise2Secure, a non‑linked, non‑participating individual pure risk premium life insurance plan designed to provide holistic protection for individuals and families.
Product Features
Promise2Secure combines traditional life cover with multiple layers of protection and value‑added services. The plan offers coverage for the policyholder and spouse, accidental death and total‑permanent disability, 40 specified critical and terminal illnesses, and a child care benefit to support a child's financial future in case of an unforeseen loss. Policyholders can choose between two variants – Life Secure and Life Secure with Return of Premium – the latter returning the total premiums paid if the insured survives the policy term.
Premiums are locked at inception, and the sum assured can be increased by up to 100% within the first five years through a “Block Your Premium” rate, effectively allowing early‑life protection and the option to double coverage. An increasing‑cover feature lets the sum assured grow by 10% annually, up to 100% of the original amount over ten years, helping the policy keep pace with inflation and rising financial obligations.
Additional flexibility includes a premium deferment facility for up to 12 months without affecting risk cover, and a waiver of future premiums upon diagnosis of a terminal illness. Death‑benefit payout options are flexible, allowing a lump‑sum, monthly income, or a combination of both, with an Insta payout feature for eligible claims.
Value‑Added Services
Policyholders gain access to a complimentary health and wellness ecosystem provided by third‑party partners, encompassing tele‑consultations, diagnostic support, health assessments, and fitness services. The plan also offers online will preparation to facilitate seamless legacy planning.
Market Positioning and Distribution
Rishi Mathur, Chief Marketing Officer and Chief Distribution Officer – Alternate Channels, highlighted that the product addresses evolving customer expectations across life stages, offering affordability, enhanced coverage, and flexibility to align with milestones such as marriage, parenthood, or home ownership.
Company Background
Canara HSBC Life Insurance is a joint‑venture insurer promoted by Canara Bank (36.5% stake) and HSBC Insurance (Asia Pacific) Holdings Limited (25.5% stake). Headquartered in Gurugram, Haryana, the company operates 107 branch offices across India as of June 30, 2026, leveraging a bancassurance‑led distribution model through Canara Bank, HSBC Bank, and other partners in Tier‑1, Tier‑2, and Tier‑3 cities. The insurer offers a broad portfolio covering individual and group life, term, retirement, credit life, and employee benefit solutions.