Canara HSBC OBC Group Superannuation Life Insurance Plan and Policy - Canara HSBC Oriental Bank of Commerce Life Group Superannuation Plan addresses your varying needs by providing security and stability to the fund without compromising on performance.
|Age at entry (last birthday)||Higher of:
18 years OR
Minimum age as per scheme rules.
79 years OR
Maximum age as per scheme rules.
|Maturity age (last birthday)||Not Applicable||Lower of:
80 years OR
Maximum retirement age as per scheme rules.
|Group Size||10 members||No Limit|
|Initial Contribution||Defined Benefit (DB): ` 100,000 per scheme.
Defined Contribution (DC): ` 1,000 per member per annum.
|Sum Assured (per member)||` 1,000||` 1,000|
For detailed description of the product features, benefits, flexibilities & boundaries, kindly refer to the brochure
Group Superannuation Plan is a non-linked, non participating fund based variable insurance group product offered to employer-employee groups. As an employer, you can use this plan to provide employee benefits i.e. funding your superannuation/pension benefits.
A minimum guaranteed interest rate of 0.01% per annum (minimum floor rate) will be applicable to all the contributions credited to Scheme Account on a pro - rata basis. Further, a non-zero positive additional interest rate, which is over and above the minimum floor rate, will be declared every quarter in advance and will be applied at the end of quarter balance. Contributions, net of withdrawals during the quarter would be given proportional interest.
Surrender: The Master Policyholder may surrender the complete Master Policy at any time after serving minimum notice period of 3 working days. If the Master Policy is surrendered within first three policy years, the surrender penalty will be equal to 0.05% of total Scheme Account Value with a maximum of ` 500,000. Further, there will be no surrender penalty after the third renewal year. The surrender value so calculated will be treated as bulk exit and hence will also be subject to Market Value Adjustment (MVA). The Goods and Services Tax & applicable cess (es)/levy, if any, as per the prevailing laws will also be applicable in addition to the surrender penalty.
Withdrawals: Except for exits as per scheme rules, no other withdrawals shall be allowed.
The tax benefits are as per the prevailing law and are subject to changes. For specific details, please contact your tax consultant.
#Tax Benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time.
Canara HSBC OBC Group Life Insurance Plans and Policy
|Canara HSBC OBC ULIP Plans|
|Canara HSBC OBC Platinum Plus|
|Canara HSBC OBC Grow Smart|
|Canara HSBC OBC Dream Smart|
|Canara HSBC OBC Future Smart|
|Canara HSBC OBC Shubh Labh|
|Canara HSBC OBC Insure Smart|
|Canara HSBC OBC Smart One Pay|
|Canara HSBC OBC Smart Goals|
|Canara HSBC OBC Smart Lifelong|
|Canara HSBC OBC Smart Future|
|Canara HSBC OBC Secure Bhavishya|
|Canara HSBC OBC QROPS|
|Canara HSBC OBC iNVESTSHIELD|
|Canara HSBC OBC Traditional Plans|
|Canara HSBC OBC Smart Immediate Income|
|Canara HSBC OBC Samridh Bhavishya|
|Canara HSBC OBC Smart Monthly Income|
|Canara HSBC OBC Smart Future Income|
|Canara HSBC OBC Smart Junior|
|Canara HSBC OBC Jeevan Nivesh|
|Canara HSBC OBC Money Back Advantage|
|Canara HSBC OBC Protection Plans|
|Canara HSBC OBC iSelect|
|Canara HSBC OBC Smart Surakasha|
|Canara HSBC OBC POS - Easy Bima|
|Canara HSBC OBC Group Plans|
|Canara HSBC OBC Group Traditional Benefit|
|Canara HSBC OBC Group Superannuation|
|Canara HSBC OBC Sampoorna Kavach|
|Canara HSBC OBC Group Secure|
|Canara HSBC OBC Corporate Group Term|
|Canara HSBC OBC Pradhan Mantri Jeevan Jyoti Bima Yojana|