POS- Easy Bima Plan

Term Insurance Plans are the basic form of insurance that protects the policyholder against any unfortunate event such as death or permanent disability. Canara HSBC Oriental Bank of Commerce Life Insurance ‘Point Of Sale’ product POS- Easy Bima Plan is one such pure-term insurance plan that offers life cover and promises the return of all premiums paid during the term until the policy maturity.

Read more
Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

*Tax benefit is subject to changes in tax laws. *Standard T&C Apply

** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines

Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use & consent to Policybazaar to access your credit report

Canara HSBC OBC Life Insurance offers three Term Insurance plans- iSelect Star Term Plan, Saral Jeevan Bima and POS-Easy Bima Plan.

Key Aspects of the Plan




Entry Age

18 years

55 years

Maturity Age 

28 years

65 years

Sum Assured

Rs. 50,000

Rs. 15,00,000

Premium Payment and Policy Term

5 Pay-10 years

10 Pay-15 years

10 Pay- 20 years

Annual Premium

·         Rs.2,219 for 10-year Policy Term

·         Rs. 1,076 for 15 year- Policy Term

·         Rs. 989 for 20 year- Policy Term

Based on Sum Assured

Premium Payment Mode 

Annual and Monthly mode.

Modal Factor= Annual Premium multiplied by a factor of 0.10 to get the monthly instalment premium payable.

Benefits of POS-Easy Bima Plan

  1. Hassle-free

    The purchase process is hassle-free and does not have additional requirements or medical tests.

  2. Double life cover

    With POS- Easy Bima Plan, one can get benefit from Double life cover if there is accidental death. Double Life Cover comprises Accidental Death Benefit Sum Assured + Death Benefit Sum Assured will be paid. 

  3. Death benefit

    The total premiums paid during the 90-days’ waiting period from the risk commencement date are paid in this case. This will include modal loading excluding GST & other taxes. When the waiting period is over, 100% Death Benefit is paid back to the policyholder. Once the payment of these benefits is made, the policy terminates.

  4. Accidental Death Benefit

    In case of death by accident, the 90-days’ waiting period is not applicable and the Accidental Death Benefit Sum Assured equal to the Death Benefit Sum Assured is paid. After the payment of these Benefits, the Policy will be terminated, and no amount will be paid.

  5. Return of Premiums 

    Let’s assume the policyholder survives till the plan maturity. In that case, the total premiums paid by the policyholder during the lifetime of the Policy are returned to the policyholder, excluding GST and other taxes.

  6. Premium Payment and Term Options

    POS Easy Bima plan offers convenient options to its customers regarding the selection of the policy term and payment of premium for a limited period according to one's needs.

  7. Tax Benefits

    Policyholders can get the tax benefits of up to Rs 1.50 lakhs under Section 80C of the Income Tax Act, 1961, for the premium paid for a specific period to avail benefits of a term insurance policy. According to Section 10 (10D) of the IT Act, any amount received under a Life Insurance Policy as a death benefit is also tax-free.

    “Tax benefit is subject to changes in tax laws. Standard T&C apply.”

Premium Illustration

Ritik is planning financial security for his family with a vision that his family would not have to struggle for finances in case of his untimely demise. For this reason, he purcahsesPOS Easy Bima Plan offered by Canara HSBC Oriental Bank of Commerce Life Insurance. Here is an illustration of premiums with options on Policy and Premium payment terms on Sum Assured of Rs. 3,00,000.

Premium Payment Term/ Policy Term

Sum Assured (Rs)

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)

5 Pay / 10 Term






10 Pay / 15 Term






10 Pay / 20 Term






Additional Riders

  • Surrender value: The Surrender Value will be a higher amount of Guaranteed Surrender Value or Special Surrender Value. After payment of at least the first two consecutive policy years' premiums, the Policy acquires a Guaranteed Surrender Value as well as a Special Surrender Value.
  • Female lives: premiums to be set back by 3 years

Documents Required for Buying the Plan

To buy the Canara bank POS Easy Bima plan, any of these documents are required:

  • Address Proof- AADHAAR card, V driving licence, or passport
  • Identity Proof- AADHAAR card, Voter ID, r Passport or Pan Card

How To Buy POS-Easy Bima Plan Online?

If you want to buy the Policy online, you need to go to the Canara HSBC Life website and contact an advisor. For meeting the advisor, you can fill in their personal information- your name, email id, mobile number, pin code and city where you reside. You also need to fill in the source of reference for the plan. ick the box declaring that you agree to abide by the company’s privacy policy and that you are ready to receive any information about the plan on the given email id or mobile number.


In Terms and Conditions regarding the application of tax, premiums and benefits, there are a few exclusions to the plan:

  1. Suicide Exclusion

    In the event of the death due to suicide of a person with an Insurance policy within 12 months: 

    • From the date of commencement of risk under the policy, the nominee shall be entitled to have at least 80% of the total premium paid till the policyholder’s death or Surrender Value as on the policyholder’s death date, whichever is higher, provided the policy is active
    • From the revival date of the policy, the nominee shall be entitled to an amount that is higher than 80% of the total premiums paid till the death or the surrender value as available on the date of death
  2. Accidental Death Exclusions

    Accidental Death of the Life Assured caused by any of these reasons is excluded:

    • Any condition/ailment/injury/ or related conditions within 48 months before this policy is issued by the company or at the time of reinstatement of the Policy
    • Death caused, in any case directly or indirectly, AIDS or HIV
    • The death caused by participating in any extreme sports like mountaineering, racing, hunting, bungee jumping, and steeplechasing, any underground or underwater operation, or any such activity
    • Life Assured except as a bonafide passenger (fare-paying or not) participating in any kind of activity as- flying in an aircraft or an aircraft of a licensed airline  
    • Suicide or attempted suicide, or self-injury
    • Death due to influence of drugs or alcohol abuse, or use of narcotics or other addictive drugs not prescribed by a registered Medical Practitioner
    • Death at the service period in any air force, military, naval or paramilitary forces
    • War, invasion, riots, terrorism, hostilities
    • Death of the Life Assured while participating in any industrial dispute, strike,  and riot
    • Life Assured involved in any criminal, illegal or fraudulent activity or involved in any fight or conflict
    • Death due to nuclear radiation, reaction, biological hazards, or chemical contamination
    • Death due to any physical handicap, disability, or mental infirmity
  3. 90 days waiting period

    • The company shall refund the premiums paid if the death of the Life Assured occurs during the first 90 days from the risk commencement date.
    • If a death claim arises on account of an accident within the waiting period, then the Accidental Death Benefit will be payable.

    For a detailed list of exclusions, please refer to the policy document or the product brochure.”


Written By: PolicyBazaar - Updated: 20 July 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Sign up for newsletter
Sign up our newsletter and get email about term plans.
You May Also Want to Know About
Best Term Insurance Plans in India 2021
Best Term Insurance Plans Finding the best term insurance plan is an impertinent necessity for an individual who has dependents or a family. It is a proven fact that the best term insurance offers the most ‘value for money’s proposition. It is...
1 Crore Term Insurance Plan
1 Crore Term Insurance Plan Amid the rising inflation, the expenses have also increased and so is the standard of living. If you are the only breadwinner in your family and do not want your loved ones to suffer due to the uncertainties that life m...
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme launched by the central government of India for the growth of the poor and low-income section of society. As a pure term insuranc...
Types of Deaths Covered and Not Covered by Term Insurance
Types of Deaths Covered and Not Covered by Term Insurance When it comes to securing the future of your loved ones or doing a proper financial planning, term insurance is one of the most popular options for the insurance seekers. With affordable ...
Pradhan Mantri Suraksha Bima Yojana (PMBSY)
Pradhan Mantri Suraksha Bima Yojana (PMBSY) Scheme Pradhan Mantri Suraksha Bima Yojana has been announced by the government of India as one of the three social security schemes. PMSBY is an accidental insurance scheme that provides accidental de...

POS- Easy Bima Plan Reviews & Ratings

0 / 5 (Based on 7 Reviews)
(Showing Newest 7 reviews)
Punjab, August 02, 2021
Inexpensive term plan
My friend is 30 year old and I am 25 years old and noticed a difference in our term plan price. I visited Policybazaar and read some blogs there. I found out that term plans are cheaper if you buy at young age. I am glad to buy this plan at the right time.
Chail, August 02, 2021
Tax savings
I recently bought a term insurance policy from the website of Policybazaar. My plan has amazing features and some additional benefits due to an addon. The best part is I can also enjoy a tax rebate. I am so glad to buy this plan.
Niwari, August 02, 2021
Purchased Online
My friend asked me to buy a term insurance plan online as it is cheaper and more convenient. I visited the website of Policybazaar and bought a term policy which offers great benefits at cheap rates. My online experience has been great. Thank you team.
Modinagar, August 02, 2021
Protection against COVID
The pandemic had me worrying about the future of my family in my absence. I have been searching for a pure insurance policy to safeguard my family against any eventuality. With the help of Policybazaar now I my family is secure as a bought a specialized term plan made to help family of the policyholder.
Meerut, August 02, 2021
Best customer service
I did not understand much about insurance but I knew one thing that I needed to secure the future of my family. I took help from the team of Policybazaar and they suggested me what would be best for me. I am happy with my plan. Thank you so much team.
Palwal, August 02, 2021
Huge coverage
I recently bought a term plan from the website of Policybazaar and I am happy with the product. I got a higher coverage term plan with additional benefits and at cost effective price. Now I am worry free for the future security of my family in my absence. Thanks.
Gurgaon, August 02, 2021
Quick to buy
My friend suggested me to buy a term insurance plan online. I visited the website of Policybazaar and it took me about half an hour or maybe less to buy the plan online. The experience was smooth and I am happy with my plan. Kudos team.
Download the Policybazaar app
to manage all your insurance needs.