Canara HSBC was launched on 16th June 2008 as a venture between Canara Bank holding 51% of the company, HSBC Bank holding 26% of the company and Oriental Bank of Commerce with 23% of the holding.The company has a combined experience of the three founding banks of over 300 years in the financial sector of India.Read more
*Tax benefit is subject to changes in tax laws.
**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
The business strategy followed by them testifies their understanding of the market especially when it comes to looking for a bank partner or scaling up their bancassurance channels.
Canara iSelect Smart 360 Term Plan is a pure risk premium life insurance plan which is an all-in-one insurance product that offers the flexibility to buy life cover as per your requirements and ensures that the goals of your family are fulfilled. The plan comes with three options to choose from: life cover in the life secure, life cover with a return of premium at the time of survival till the end of the policy tenure, and life cover with income benefit in Life secure with income. This product also provides add-on coverages and option of inbuilt covers.
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
Key Features of Canara HSBC Term Insurance Plan
The plan provides life insurance cover till the age of 99 years
Option to receive ROP i.e., Return of the total premium amount paid in case no claim has filed
Option of child care benefit that offers additional SA till the child reaches the age of 21 years
The plan offers an additional payment as lump sum in case of accidental and permanent disability, accidental death, or critical illness.
Option to increase life cover with accelerated terminal illness benefit
The plan offers the option to stop the premium amount at policy commencement and increase life cover up to 100 percent of Base SA in the next five years
You can also opt for fixed income benefit on reaching 60 years
Get tax benefits as per the prevailing laws of the Income Tax Act, 1961.
|Plan options||Life secure Life secure with income Life secure with ROP|
|Minimum Entry Age||18 years|
|Maximum Entry Age||65 years, except for the following: For PPT of up to 60 years under Life Secure: 55 years For PPT of up to 60 years under Life secure with Income/ROP: 50 years Life Secure with Income: 55 years For non-working spouse: 50 years Single premium: 40 years|
|Maximum Policy Term||Life Secure: 5 years Life secure with Income: 65 years minus entry age Life Secure with ROP: 10 years|
|Premium Frequency||Yearly/Half-yearly/Quarterly/Monthly/ Single|
|Minimum Sum Assured||Critical illness sum assured: 5 Lakhs Life Secure: 25 lakhs Life secure with ROP/Income: 15 Lakhs|
|Maximum Sum Assured||No Limit|
Canara HSBC Oriental Bank of Commerce Saral Jeevan Bima is a simple term plan that can be easily bought offline. It provides you protection against unpredictability of life and helps in fulfilling the dream of your family. It offers a one-time payment in case of the policyholder’s death. The plan gives the flexibility of premium payment term, the basic SA, frequency of premium payment and policy term that can be aligned as per the insurance requirements.
Key features of Canara HSBC OBC Saral Jeevan Bima
Life insurance cover at low premium rates
Offers financial protection for your loved ones in case of uncertainty
Multiple options of premium payment term i.e., single premium or 5 /10 years limited pay
Option of premium payment throughout the plan tenure
Get tax savings benefits as per the prevailing laws of the Income Tax Act, 1961.
|Minimum Entry Age||18 years|
|Maximum Entry Age||65 years|
|Minimum Age at Maturity||23 years|
|Maximum Age at Maturity||70 years|
|Premium Payment Term||Single/ Limited (5/10 years)/Regular payment|
|Premium Payment Mode||For Limited and Regular premium payment options: Yearly/half-yearly/Monthly For Single premium payment: One-time lump sum premium payment|
|Minimum Premium||Rs. 1998 pa|
|Maximum Premium||Rs. 499875 pa under single premium option|
Canara HSBC OBC –Easy Bima Plan is a pure term insurance policy with ROP on the maturity date. It is specifically designed to offer hassle-free and affordable protection to take care of the requirements of your loved ones.
Key Features of POS Easy Bima Plan
Easy to buy: The buying process is simple with minimum needs and no medical examination is required
Double life cover: Receive double life coverage in case of accidental death
Return of premium (total) paid: Total amount of premium paid is returned on the survival till the maturity
Premium payment term: Choice of flexible premium payment options and policy tenure to suit your needs
Tax Benefits: Get tax benefits on the premium amount paid and benefits received u/s 80C and 10(10D) as per ITA, 1961.
|Minimum Entry Age||18 years|
|Maximum Entry Age||55 years|
|Minimum Maturity Age||28 years|
|Maximum Maturity Age||65 years|
|Premium payment and Policy Term (PT)||5 pay with Policy Term 10 pay with 15 years policy term
10 pay with 20 years policy term
|Maximum Premium||15 Lakhs|
|Premium payment Mode||Annual and Monthly|
For the online payment mode, the policyholder can pay via;
Alternatively, you can contact toll free: customer care toll free number 1800-103-0003 or 1800-180-0003 (MTNL/ BSNL) to inquire about the policy status.
You can send an SMS to 09779030003 to inquire the policy status as well.
Step1: Enter your Client ID and Date of Birth to login into e-portal
Step2: Choose the policy for which you want to pay
Step3: Select the payment option – Debit/Credit Card or Net Banking to pay
Step 4: Upon successful payment completion print/save the premium deposit receipt
Alteranatively, you can pay via cash/cheque at any of the nearest branch.
Call Toll free: 1800-103-0003 or 1800-180-0003 (MTNL/ BSNL) to inquire on how to pay offline.
Call toll free number: 1800-103-0003 or 1800-180-0003 (MTNL/ BSNL) to know more.
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