Canara HSBC OBC Insure Smart Life Insurance Plan and Policy - Insure Smart Plan is a unit linked insurance plan, it helps you save for your specific dreams with the flexibility of paying premiums for 5 years and getting life cover for 10 years with freedom to invest in our 5 funds as per your investment needs.
|Entry age (Life Assured)||8 years||70 years|
|Policy Term||10 years (Fixed)|
|Premium Payment Term||5 years (Fixed)|
|Annual Premium||` 50,000||No Limit|
|Sum Assured||10 x annual premium
(for ages below 45)
7 x annual premium
(for ages 45 and above)
|35 x annual premium
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.
We all want to be financially comfortable and ensure that we have adequate funds in place to enjoy our life. Our living expenses and financial goals are different for different stages of life, whether saving for retirement, raising a child or simply having the financial freedom to do as we want.
In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:
Your policy will mature at the end of 10 years. You will receive the Fund Value based on the prevailing NAVs at maturity. Moreover, Loyalty Addition will also be payable.
You will get a loyalty addition of 1% of your total fund value at maturity.
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.
Note: #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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