Canara HSBC Oriental Bank of Commerce Life Insurance Smart Sanchay Plan
...enjoy the benefits of insurance and savings!
Being an organization that proactively plans for its members and secures them by providing means to meet their needs, you always take care of your members and their priorities. But with uncertainties of life, there always exists a fear in their mind of the unfortunate circumstances where their families might suffer, when they are not around. For the financial protection of your members, we proudly present our "Canara HSBC Oriental Bank of Commerce Life Insurance Smart Sanchay Plan" , which will help your
members to fulfill their dreams along with providing financial protection to their families. This is a traditional, non- participating protection cum savings plan which will safeguard your members against the uncertainties of life and provide attractive returns at the same time.
Simplicity: This plan has a simple enrolment process where the members are required to fill up a simple form to get the cover
No Medicals: The insurance cover will be provided based on individual evidence of health and the members need not undergo any medical examination
Affordable Premium: Your members can buy this product with a premium amount of as low as ` 6,000 per annum
Limited Premium Payment Term: This is a limited pay product where insurance cover is provided to the member for 10 years while the member is required to pay premium only for 5 years
Maturity Benefit: Insured members will receive 137.5% (equal to the current savings account interest rate of 4% compounded semi-annually)^ of the total cumulative premiums1 paid on survival to the end of the cover term of 10 years.
Death Benefit: In the unfortunate event of death of the insured member, Sum Assured will be paid to the nominee
Accidental Death Benefit: In case of death of the insured member due to accident an additional benefit equal to the Sum Assured will be paid. Accident will mean an event resulting solely from sudden, unexpected, violent external force, independently of any other cause
Tax Benefit: Insured members will enjoy tax benefits under Section 80C and Section 10(10D), as per the Income Tax Act, 1961. Tax benefits are as per prevailing tax laws and are subject to change
Maximum Maturity Age* 60 years
Sum Assured 10 times the Annual premium
Cover Term 10 years
*Age as per last birthday (l.b.d.)1 The premium is base premium excluding service tax
