Tailor made Plan with Whole Life Cover, Return of Premium, Multiple Payout Options, Increase Coverage Option & Tax Benefits.
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An Individual Non-Linked Non-Par Pure Risk Premium Life Insurance Term Plan
UIN: 136N073V02
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited iSelect Star Term plan is the shield against all uncertainties of life. A highly flexible term plan that can be aligned to your life stage and needs by offering different options for not only coverage, but also for premium payment and benefit payouts.
iSelect Star Term Plan offers multiple options like whole life coverage, covering spouse in same policy, multiple premium payment options including short tenure like 5 or 10 years as well as option to pay during your working years i.e. till you get 60 years old. The plan also offers an option to avail return of premium benefit wherein all your premiums will be returned once you outlive the policy tenure.
Plan Option Life
Under this Plan Option, in case of death or on diagnosis of Terminal Illness, whichever happens earlier, the Sum Assured on Death is payable. Policy terminates upon payment of the benefit. Both the Life Assured and the Spouse can be covered for the term of the contract, subject to terms and conditions of the policy.
Plan Option Life with Return of Premium
Under this Plan Option, on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier, during the Policy Term, Sum Assured on Death is payable. If you outlive the Policy Term, we will return the Total Premiums Paid by you at maturity. Policy terminates upon payment of these benefits.
Plan Option Life Plus
Under this Plan Option, we will pay Sum Assured on Death on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier. Policy terminates upon payment of the benefit. In case of survival till maturity, the Total Premiums Paid will be refunded to you on the date of maturity. Further, policy will continue post maturity till you attain 99 years of age which is the Extended Cover Period. During this period, Sum Assured will be paid on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier. On attaining age 99 years, the Sum Assured will be paid to you. Policy terminates upon payment of these benefits.
| Parameters | Minimum | Maximum |
|---|---|---|
| Age at Entry | 18 years |
65 years For PPT Upto Age 60 years (Under Plan Option Life)# – 55 years For PPT Upto Age 60 years (Under other Plan Options)# – 50 years For Single Premium Option – 45 years For Non-Working Spouse – 50 years |
| Age at Maturity | 28 years |
80 years For Whole Life Coverage# under Plan Option Life – 99 years For ADB / ATPD – 75 years |
#This Option is not available if you have opted for Spouse coverage.
| Parameters | Minimum | Maximum |
|---|---|---|
| Policy Term (subject to Maximum Maturity Age) |
Plan Option Life – 5 years* Other Plan Options – 10 years |
Plan Option Life – 62 years except for Whole Life Coverage# where it will be fixed at 99 minus Age at Entry Other Plan Options – 30 years |
| Premium Payment Term (PPT) | ||
| Life |
Single Premium (not available for Whole Life Coverage) Limited Pay – 5* / 10 / 15 / 20 / 25 / Upto Age 60 years@# Regular Pay – Equal to the Policy Term |
|
| Life with Return of Premiums |
Limited Pay – 10 / 15 / 20 / 25 / Upto Age 60 years@ Regular Pay – Equal to the Policy Term |
|
| Life Plus |
Limited Pay – 10 / 15 / 20 / 25 / Upto Age 60 years@ Regular Pay – Equal to the Policy Term |
*Policy Term of 5 years to 9 years is available only for Age at entry of 35 years and above. Similarly 5 years PPT with Policy Terms up to 9 years is only available for ages at entry of 35 years and above.
#This Option is not available if you have opted for Spouse coverage.
@The minimum PPT under this Option will be 5 years and 10 years for Plan Option Life and other Plan Options respectively.
| Parameters | Minimum | Maximum |
|---|---|---|
| Sum Assured |
Plan Option Life – Rs. 25,00,000* Optional In-Built Covers – Rs. 25,00,000 Other Plan Options – Rs. 15,00,000 |
As per Board Approved Underwriting Policy (BAUP) For ADB – Rs. 3,00,00,000 For ATPD PPP – Rs. 1,00,00,000 For non-Working Spouse – Rs. 25,00,000 |
*For CSB option, the base Sum Assured chosen by the Policyholder / Working Spouse should be at least Rs. 50,00,000
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