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.
|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
|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.
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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