Canara HSBC OBC Life Insurance Secure Smart Plan
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
Canara HSBC OBC Life Insurance Secure Smart Plan that provides guaranteed benefits. While you pay premiums for 10 years, you are covered for 15 years with Guaranteed Sum Assured and additions as a percentage of the Sum Assured with every premium paid
Product Description
- Sum Assured Additions with each Premium Payment
- Guaranteed Sum Assured
- Pay Premium for 10 years, Life Cover for 15 years
- Attractive rebate on high Sum Assured & Payment Mode
COMPARE & BUY SIMILAR PLANS
Unique Features
- Canara HSBC OBC Life Insurance Secure Smart Plan is a traditional limited pay endowment plan
- The plan provides a Sum Assured Additions for every year of the premium paying term, provided the premiums are paid.
- Sum Assured additions is a percentage of sum assured which depend on the 5 year G-sec yield.
Eligibility Criteria
| Eligibility Criteria | ||||||
|---|---|---|---|---|---|---|
| Entry Age | Minimum | 18 Years | ||||
| Maximum | 60 Years | |||||
| Max Age at Maturity | 75 Years | |||||
| Annual Premium Minimum | Rs. 10,000 | |||||
| Payment Modes | Yearly, Half Yearly and Quarterly | |||||
| Premium Payment Term | Fixed term of 10 years | |||||
| Policy Term | Fixed term of 15 years | |||||
OneInsure App Benefits
Product Benefit
Maturity Benefit:- Sum Assured along with Sum Assured Additions accrued during the premium payment term.
Death Benefit:- In case of death of the Life Assured, the nominee (the person nominated to receive the benefits under this plan) will receive the Sum Assured along with accumulated Sum Assured Additions
Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Rebates | Female Lives - Females will be eligible for a lower premium rate as applicable for corresponding 3-year younger males. | |||||
| High Sum Assured - Premium rebate of upto Rs 9.00 per'000 Sum Assured. | ||||||
| Premium Frequency – 5% & 2% rebate on premium rates for Annual and Semi-Annual frequency respectively. | ||||||
| Surrender | Premium Discontinuance/Policy Surrender during the first three policy years -: | |||||
| In this case, the policy will lapse and you will not be eligible for any benefits. | ||||||
| Premium Discontinuance/Policy Surrender after the first three policy years -: | ||||||
| In the case of discontinuance of premiums, the policy will acquire a paid up value and continue with the acquired paid up value till maturity, death or revival, whichever is earlier. | ||||||
Add-ons
Not Available
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy,the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
Tax Benefits
Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961
Claim Process
Know Claim Process Of Canara HSBC OBC Life Insurance Secure Smart Plan
Company Overview
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched in June 2008 and is jointly owned by two of the leading public sector banks - Canara Bank (51%) and Oriental Bank of Commerce (23%) and HSBC Insurance (Asia Pacific) Holdings Limited (26%), the Asian insurance arm of one of the world's largest banking and financial services group - HSBC. The Company has access to over 115 million customers and a pan-India network of over 10,000 branches of bank partners.
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