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Death Benefit Payable (other than accidental death)
During the waiting period, that is 90 days from the date of commencement: Return of the Total Premiums Paid. 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 benefit 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 Premiums Paid 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 advisorYou 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)
5 Pay 10 Term
300,000
300,000
600,000
10 Pay 15 Term
300,000
300,000
600,000
10 Pay 20 Term
300,000
300,000
600,000
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)
9,423
47,115
942
56,538
6,186
61,860
619
74,232
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.
Entry Age
Minimum
18years
Maximum
55years
Maturity Age
Minimum
28years
Maximum
65years
5 pay with 10 years policy term
10 pay with 15 years policy term
10 pay with 20 years policy term
Minimum Sum Assured :
50,000
Maximum Sum Assured:
15,00,000
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
Annual & Monthly mode
Annual premium needs to be multiplied with a factor of 0.10 to arrive at the monthly installment premium payable.
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