Canara HSBC OBC Dream Smart Life Insurance Plan and Policy - The Dream Smart plan, a unit linked insurance plan (ULIP) helps save for your specific dreams. With this plan you have the flexibility to pay premiums for a limited duration while you get life cover for 20 years. Your money is invested in unit linked funds of your choice to take care of your long term financial goals.
|Entry age (Life Assured)||7 years||60 years|
|Maximum Maturity Age||80 years|
|Policy Term||20 years (fixed)|
|Premium Payment Term||10 years||20 years|
|Annual Premium||` 25,000||No Limit|
|Sum Assured||For ages below 45 years:
10 X Annual Premium
For ages 45 years to 60 years:
7 X Annual premium
|No maximum limit,
subject to underwriting
In this policy, the investment risk in Investment Portfolio is borne by the policyholder.
The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.
Your future is defined by your dreams for yourself and your loved ones. You would like to ensure that nothing comes in the way of achieving these dreams - buying the perfect house for your family or enrolling your child in a college abroad. And in order to fulfill this you are in the search of the best life insurance policy that fits all your requirements.
In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:
1% of your Fund Value added by way of additional allocation of units at the end of 15th policy year to boost your investments
On survival till end of Policy Term, the Fund Value will be paid to you.
You can choose to invest in 5 investment funds with equity exposure ranging 0% to100%, depending on your investment philosophy:
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.
Canara HSBC OBC ULIP Life Insurance Plans and Policy
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