The Canara HSBC OBC Life Smart Goals Plan is a Unit Linked Insurance Plan with a two options for life cover. It is a non-traditional insurance plan that does not have bonus facility. This plan enables policyholders to plan and prepare for future goals and future financial and requirements, while providing protection for their loved ones in the unfortunate event of their premature demise.
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹1 Crore
Invest ₹10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual Funds
|
Minimum |
Maximum |
Entry Age of the Life Assured (Last Birthday) |
8 years |
64 years |
Maturity Age (Last Birthday) of the Life Assured |
Option 1: 18 years Option 2: 23 years |
Option 1: 74 years Option 2: 79 years |
Policy Term (PT) in years |
Option 1: 10 years Fixed Option 2: 15 years |
Option 2: 25 years |
Premium Paying Term (PPT) in years |
Option 1: Fixed 5 years Option 2: 1o to 25 years |
|
Premium Paying Frequency |
Monthly |
Annual |
Single Premium |
Rs. 300000 |
No limit |
Sum Assured |
Option 1 : Age less than 45 = 10 X Annual Premium Age more than 45 to 60 years = 7 X Single Premium Option 2 : Age less than 45 = Higher of (0.5 X Policy Term X Annual Premium) or 10 X Annual Premium Age more than 45 = 7 X Single Premium |
No limit |
Benefit illustration for 40 year old male. Option 2 life cover chosen. Sum Assured = 10 X Annual Premium. Policy Term of 10 years
Annual Premium (Rs.) |
Sum Assured (Rs.) |
Fund Value at the end of 20 years assuming Gross Investment Return of |
|
4% |
8% |
||
30000 |
300000 |
403830 |
736634 |
75000 |
750000 |
1009575 |
1841545 |
100000 |
1000000 |
1346100 |
2455447 |
250000 |
2500000 |
3365250 |
6138618 |
500000 |
5000000 |
6730501 |
12277236 |
The policyholder has to fill up an ‘Application form ’with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof and medical examination.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
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