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Samridh Bhavishya

UIN: 136N038V03

Canara HSBC Oriental Bank of Commerce Life Insurance Samridh Bhavishya plan ensures a regular guaranteed income stream post retirement. It provides you annuity installments throughout your lifetime, thereby ensuring that you enjoy your post retirement years the way you want to.

Samridh Bhavishya Product Parameters Product Parameters

Samridh Bhavishya Age Criteria

Age Criteria

  • Entry Age


    30 years


    No Limit
    Note: Annuity below age 30 years will be offered only in case the policy is purchased from the proceeds of group or individual pension accumulation plan of the Company.
Premium Mode & Modal Factors

Purchase Price (Single Premium)

  • Minimum Purchase Price:
    2,00,000 (excluding taxes)
    Purchase price of less than 2,00,000 shall be allowed only in case the annuity is purchased from the proceeds of group or individual pension accumulation plan of the company.
  • Maximum Purchase Price:
    No Limit
    Please note that Purchase Price will be received as single premium only.

Annuity Installment
Frequency / Mode

  • Annual, Semi-Annual, Quarterly or Monthly modes are available under this plan.

    The modal factors are:
    Annual :1.000
    Semi-Annual :0.969
    Quarterly :0.954
    Monthly :0.945
    First installment of annuity is payable at the end of the modal period.

As you near your retirement, the most important thought on your mind would be to lead a secure and comfortable life as always without any dependence on others. Everyone loves financial independence, to enjoy and live a worry free and comfortable lifestyle. This is even more important in your golden years, as after so many years of hard work, money should not be a concern for you to decide how you would spend your retirement years.

  • Guaranteed lifetime income directly credited to your bank account to cater to your needs
  • Option to receive regular payments for as long as you or your partner is alive
  • Option to choose lifetime annuity with guaranteed payment period of 5/10/15/20 years
  • Flexibility to choose annuity installment frequency as Annual, Semi-Annual, Quarterly or Monthly
  • High purchase price benefit through increase in annuity rates
Death Benefit

There is no death benefit under this product.

Annuity Options

You can choose one of the following annuity options at inception:

  • Lifetime annuity
  • Lifetime annuity with guaranteed payment period of 5 / 10 / 15 / 20 years
  • Joint Life, Last survivor with 100% annuity to the secondary annuitant on death of the primary annuitant
Annuity Term

For annuity options (1) and (3) - till the death of the annuitant (Single Life); till the death of the last survivor (Joint life).
For annuity options (2) - till the death of the annuitant or end of guaranteed payment period, whichever is higher.

Higher Annuity Installment for High Purchase Price

The annuity rates vary by purchase price band and therefore you would benefit from higher annuity rates if the purchase price (excluding taxes) is `2,00,000 or above. The purchase price bands and additional annualized annuity rate are specified below:

Purchase Price Band
(excluding taxes)
Additional annualised annuity rate
(per 1000 of purchase price)
< 2,00,000 Nil
>= 2,00,000 to < 3,00,000 1.10
>= 3,00,000 to < 5,00,000 1.50
>= 5,00,000 to < 10,00,000 1.80
>= 1,000,000 2.00
Tax Benefits#

You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80C 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.

Step 1: Choose the purchase price (single premium) that you wish to pay to buy the annuity or choose the annuity installment you wish to receive.

Step 2: Choose amongst the available Annuity options

Step 3: Choose your annuity installment frequency - Annual, Semi-Annual, Quarterly or Monthly

Step 4: Fill the simple proposal form and provide all details

Step 5: Pay purchase price and receive the annuity installments through direct credit in your bank account