About the Plan

Canara HSBC Oriental Bank of Commerce Life Insurance Smart Monthly Income Plan that will help you plan well as you move towards the golden years of life.

Parameter Description
Entry Age 18 - 55 years
Maturity Age 43 - 80 years
Policy Term (Fixed) 25 years
Premium Payment Term 15 years
Premium Mode & Modal Factors Annual and Monthly
Monthly mode will be available only with SI/ECS option. For Monthly mode, the Annual premium needs to be multiplied with a factor of 0.09 to arrive at the monthly premium payable.
Min. Monthly Income/ Min. Premium Min. Income is ` 2,000 per month (in multiples of ` 100 thereafter)
Premium depends on the age, income and premium mode chosen.
Sum Assured 100 times the chosen monthly income

Click here for revisionary bonus rates in participating plans.


    As you grow in the journey called Life, you would surely like to have a companion who enables you to enjoy the finest lifestyle, meet aspirations of your loved ones and create a legacy for them, without really having to worry about the finances.

    The plan offers

    • Get tax free# Guaranteed Monthly Income for 15 years to realise your dreams
    • Accumulate Lump Sum money through Annual and Final bonuses to create a pool of money for your loved ones
    • Create a Legacy for your loved ones with Life Cover for 25 years
    • Enhance your Lifestyle through Guaranteed Income and Bonuses
    • Opt for loan flexibility to meet your contingent needs
    • Enjoy convenient Premium Payment by adjusting premiums payable with income to be received in year 11-15

    #Tax Benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.


    Life-cover Benefits

    Sum Assured: 100 times the chosen monthly income.

    Death Benefit

    On death of the life assured, a death benefit equal to Death Benefit Sum Assured [Higher of Sum Assured or 10 times Annualised Premium] plus added annual bonus (and any interim bonus for the part of the year in which death occurs) and final bonus (if any) subject to at least 105% of the premiums paid by the policyholder (excluding extra premiums, if any) shall be payable.

    The Death Benefit shall be payable irrespective of the monthly incomes already paid till date of death.

    Survival Benefits

    Income Benefit: You will receive the chosen monthly income during the last 15 years of the plan i.e. from the end of 121st policy month (not the calendar month) up to the end of policy term.

    Set-off Option: This option is for your convenience and will help you adjust the premiums payable during year 11 to 15 from the incomes receivable in these years.

    Maturity Benefit : On survival till maturity, Added Annual bonuses along with Final Bonus, if any will be paid.

    Other Benefits

    Rebate: If your Sum Assured is more than or equal to ` 3 Lacs, you will be entitled for a premium rebate.

    Loans: You can avail of the loan facility to meet your liquidity needs, once the policy acquires a surrender value.


    Annual Bonuses: Your policy is entitled to get annual bonuses (expressed as a percentage of Sum Assured) based on the profits emerging from the with-profit fund managed by the company. These bonuses will be declared and added to your policy at the end of every year.

    Final Bonus: Your policy may be entitled to get the final bonus (if any), expressed as a percentage of Sum Assured.

    Please note that there is no guarantee on the amount of future bonuses and these will be declared at the sole discretion of the company. Hence, the bonuses in this plan may vary from time to time.

    Tax Benefits#

    You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of income Tax Act, 1961. Please note that tax laws are subject to amendments from time to time.

    #Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor. To avail tax benefits, Sum Assured should be minimum of 10* Annual Premium.


    Mr. Arun 35 years old, Male, looking for guaranteed monthly income of ` 10,000. He also needs a Life Cover of at least ` 10,00,000. Premium Payment Term is fixed for 15 years. Policy Term is fixed for 25 years. Annual Premium is ` 98,000 (Exclusive of Service Tax)


    In the above scenario returns are projected at gross interest rates of 8% and Annual Premium is exclusive of Service Tax, which will be as per government regulations and levied additionally and borne by the Policyholder.


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I agree that even if my contact number is registered with NDNC/NCPR, I would still want the Company to contact me on the given number for the clarifications/product information sought by me.

Claims Process

  • Step1: Claim Intimation & Registration
  • Step2: Fund Value Disbursement & Documentations
  • Step3: Processing & Settlement
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