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Canara HSBC OBC Smart Surakasha Life Insurance Plan and Policy

Canara HSBC OBC Smart Surakasha Life Insurance Plan and Policy - Canara HSBC Oriental Bank of Commerce Life Insurance Smart Suraksha Plan is a pure protection plan that provides life insurance cover along with the option to cover against accidental death/ disability.

Eligibility - Canara HSBC OBC Smart Surakasha Life Insurance Plan and Policy

Parameter Description
Entry age 18 yrs - 65 yrs
Maximum age at Maturity 75 years
Policy Term 5 yrs* /10 yrs/ 15 yrs/ 20 yrs/ 25 yrs/ 30 yrs or coverage up to Age 60*
Premium Payment Term Regular premium payment (Same as Policy Term)
Premium Mode Yearly/ monthly
Annual Premium Minimum premium will depend on minimum entry age and minimum sum assured. 
Maximum premium : No limit
Sum Assured ` 20,00,000 & above (subject to underwriting) 
Maximum Sum Assured in Life Cover option - No Limit 
Maximum Sum Assured under Accident Plus: ` 3 Cr
Maximum Sum Assured under Disability Plus: ` 1Cr

*policy terms available to fixed age groups, please refer to the sales brochure for details

Policy Details - Canara HSBC OBC Smart Surakasha Life Insurance Plan and Policy

In an unpredictable life, our loved ones usually depend on us for their happiness and security; and we should do our best to ensure that their future is secure even in our absence.

  • Get Life Insurance Cover at a low cost.
  • Option to cover accidental death or/and total and permanent disability.
  • Reward for healthy lifestyle - lower premium rates for non-consumers of tobacco.
  • Rebate for higher sums assured.
  • Rebate for women.
  • Tax benefits on premium payments*

*Tax Benefits under the plan 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.

Benefits - Canara HSBC OBC Smart Surakasha Life Insurance Plan and Policy

Death Benefit (as per plan option):

1. Life Cover: In case of the unfortunate death of the Life Insured, the sum assured will be paid to the nominee.
2. Accident Plus: In case of the unfortunate event of death of the Life Insured due to an accident an additional amount equal to the Sum Assured will be paid to the nominee along with the sum assured.
3. Disability Plus: In case of the unfortunate death of the Life Insured, the sum assured will be paid to the nominee. In case the life insured suffers from accidental total and permanent disability, the sum assured under the policy will be paid to the life assured and the policy will terminate. 

Maturity Benefits - Canara HSBC OBC Smart Surakasha Life Insurance Plan and Policy

This being a term plan, no benefits are payable on maturity.

Other Benefits - Canara HSBC OBC Smart Surakasha Life Insurance Plan and Policy

Rebates:

  • On High Sum Assured: Sum Assured of Rs. 1 crore and above is eligible for a discount
  • For women: For policies purchased by women, the premium would be set back by 3 years

Tax Benefit - Canara HSBC OBC Smart Surakasha 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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