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Canara HSBC OBC POS - Easy Bima Life Insurance Plan and Policy

Canara HSBC OBC POS - Easy Bima Life Insurance Plan and Policy - Canara HSBC Oriental Bank of Commerce Life Insurance POS - Easy Bima Plan is a pure term insurance plan with return of premium on date of maturity. It is specially designed to provide an affordable and hassle free protection, to take care of the needs of your loved ones.

Eligibility - Canara HSBC OBC POS - Easy Bima Life Insurance Plan and Policy

Parameters Minimum Maximum
Entry Age 18 years 55 years
Maturity Age 28 years 65 years
Sum Assured Rs. 50,000 15,00,000
Premium Payment and Policy Term 5 Pay - 10 year policy term 
10 Pay - 15 year policy term 
10 pay - 20 year policy term
Annual Premium Policy Term 10 year - Rs. 2,219 
Policy Term 15 year - Rs. 1,076 
Policy Term 20 year - Rs. 989
Depends upon chosen Sum Assured
Premium Payment Mode and Modal Factors Annual & Monthly mode
Annual premium needs to be multiplied with a factor of 0.10 to arrive at the
monthly installment premium payable.

*Policy term of 5 years - 9 years is available only for age at entry of 35 years and above

Policy Details - Canara HSBC OBC POS - Easy Bima Life Insurance Plan and Policy

  • Hassle free purchase process with minimum requirements and no medical tests.
  • Double life cover in case of accidental death.
  • Return of the total premium paid (including modal loading but excluding Goods and Services Tax & applicable cess(es)/levy, if any) upon survival till maturity.
  • Premium payment term options - Choice of flexible premium payment and policy term to suit your requirements.
  • Tax benefits on premium paid and benefit received under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time.

Benefits - Canara HSBC OBC POS - Easy Bima Life Insurance Plan and Policy

Death Benefit Payable (other than accidental death)
During the waiting period, that is 90 days from the date of commencement: Return of the total premium paid (including modal loading but excluding Goods and Services Tax & applicable cess(es)/levy, if any). 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 benefit 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 premium paid (including modal loading but excluding Goods and Services Tax & applicable cess(es)/levy, if any) shall be payable, provided the policy is in force.

Tax Benefits - Canara HSBC OBC POS - Easy Bima Life Insurance Plan and Policy

You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of income Tax Act, 1961. Please note that tax laws are subject to amendments from time to time.

#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 advisor.

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