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POS - Easy Bima Plan

POS - Easy Bima Plan

UIN: 136N049V01

Canara HSBC Oriental Bank of Commerce Life Insurance POS - Easy Bima Plan is a pure term life insurance plan with return of premium on date of maturity. It is specially designed to provide an affordable and hassle free protection, to take care of the needs of your loved ones.

POS - Easy Bima Plan Product Parameters Product Parameters

POS - Easy Bima Plan Age Criteria

Age Criteria

  • Entry Age

    Minimum

    18years

    Maximum

    55years
  • Maturity Age

    Minimum

    28years

    Maximum

    65years
Premium Mode & Modal Factors

Premium Payment & Policy Term


5 pay with 10 years policy term
10 pay with 15 years policy term
10 pay with 20 years policy term

Sum Assured

  • Minimum Sum Assured :
    50,000
  • Maximum Sum Assured:
    15,00,000
Annual Premium

Annual Premium

  • Minimum Premium:
    Policy Term 10 year - 2,219
    Policy Term 15 year - 1,076
    Policy Term 20 year - 989
  • Maximum Premium: No Limit
    Depends upon chosen Sum Assured
POS - Easy Bima Plan Premium Payment Details

Premium Payment Mode
and Modal Factors

  • Annual & Monthly mode
    Annual premium needs to be multiplied with a factor of 0.10 to arrive at the monthly installment premium payable.

Hassle free

The purchase process is simple with minimum requirements and no medical tests.

Double life cover

Get double life cover in case of accidental death.

Return of the total premium

Premium paid (including modal loading but excluding Goods and Services Tax & applicable cess(es)/levy, if any) is returned upon survival till maturity./p>

Premium payment term options

Choice of flexible premium payment and policy term to suit your requirements.

Tax benefits

Avail tax benefit on premium paid and benefit received under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time.

Death Benefit Payable (other than accidental death) During the waiting period, that is 90 days from the date of commencement: Return of the total premium paid (including modal loading but excluding Goods and Services Tax & applicable cess(es)/levy, if any).
After expiry of waiting period of 90 days from the date of commencement: 100% of Death Benefit Sum Assured.
On payment of above Death Benefit, the policy shall terminate and no further benefits shall be payable.
Death Benefit Payable (accidental death) Accidental Death Benefit Sum Assured in addition to the Death Benefit Sum Assured. Waiting period of 90 days from the date of risk commencement is not applicable in case of accidental death.
On payment of above Death Benefit, the policy shall terminate and no further benefits shall be payable.

Note: Accidental Death Benefit Sum Assured is equal to Death Benefit Sum Assured.
For details on Accidental Death Benefit, please refer to the terms and conditions under this plan.
Return of Premium on date of Maturity On survival till Maturity, return of the total premium paid (including modal loading but excluding Goods and Services Tax & applicable cess(es)/levy, if any) shall be payable, provided the policy is in force.
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.

#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.

You can customize the policy to suit your financial goals and requirements in just 2 simple steps:

Step 1: Choose your Sum Assured Choose your Death Benefit Sum Assured adequately basis your life cover needs to ensure that your financial needs are met (Chosen Sum Assured has to be in multiples of Rs. 50,000).
Step 2: Choose your premium payment term and Policy Term This plan offers flexible premium payment term and policy term options to suit your requirements.
Note: The premium amount will be calculated basis your age at entry, sum assured, policy term, premium payment term, premium payment frequency and gender.

Case study

Mr. Raghu Das, aged 40, wants to take care of his family's financial needs in case he is no longer around to take care of them. Therefore, Mr. Das decides to opt for Canara HSBC Oriental Bank of Commerce Life Insurance POS Easy Bima Plan for a Sum Assured of Rs 3 Lacs.

Below scenario illustrates the benefits, which are payable under 3 different policy term options available under this plan. He can choose the option which is best aligned to his protection requirements.

Premium Payment Term/ Policy Term Sum Assured(Rs) Death Benefit(non Accidental)(Rs) Death Benefit(Accidental)(Rs) Annual Premium*(Rs) Return of Premium on date of Maturity in case of Annual mode (Rs) Monthly Premium*(Rs) Return of Premium on date of Maturity in case of Monthly Mode (Rs)
5 Pay 10 Term 300,000 300,000 600,000 9,423 47,115 942 56,538
10 Pay 15 Term 300,000 300,000 600,000 6,186 61,860 619 74,232
10 Pay 20 Term 300,000 300,000 600,000 6,294 62,940 629 75,528

*Annual Premium mentioned above excludes Goods and Services Tax & applicable cess(es)/levy, if any.

*Monthly Premium mentioned above includes modal loading but excludes Goods and Services Tax & applicable cess(es)/levy, if any.