Canara HSBC OBC Life Insurance Company

Eligibility Criteria for Canara HSBC OBC Life Insurance Plans

a. Minimum age must be at least 18 years old.

b. Maximum age should be less than 55 years old.

c. Occupation eligibility includes salaried employees, professionals, and self-employed people.

Highlights of Canara HSBC OBC Life Insurance Plans:

Tenure: Maximum 40 years

Minimum Assured Amount: 25 Lakh

Maximum Assured Amount: 10 Crore

Exclusions of policy: Suicide within the first 12 months of taking the policy.

1. Proof of Identity

2. Age

3. Income Proof

4. Residence

5. PAN Number

Plans

Basic Amount Assured

Features of Plan

Policy Tenure

Invest 4G

Below 45 yrs: 10X Annual premium or 0.5 times the annualized premium (based on  policy term)

Above 45 years: 10 times of the Annual premium or 0.25 times annualized premium (based on policy term)

1. Unit-linked

2. Non- Participating

3. Loyalty additions and wealth boosters to maximize savings.

4. Customization of plan

Life option: 5-30 years

Life option with PFB: 10-30 years Whole of life option: up to the age of 99 years.

iSelect Term Plan

The life amount assured: Rs.25 lakh Spouse: Rs.25 lakh

1. Riders can be added for accidental death and disability.

2. Protection covers for death and critical illness.

3. Special premium rates for the woman and non-tobacco users.

5-40 yrs

iNvestSheild Plan

1.Single premium payment: 1.25 times the premium. 2.Limited and

regular premium payment: 10 times of the annualized premium

1. Unit-Linked, non-participating.

2. Customized plans.

3. Partial withdrawals can be made.

Single premium payment: 10 yrs Limited and regular premium payment: 10-15 yrs

Plan

Basic Sum Assured

Features

Policy Term

1.Jeevan Nivesh Plan

Year mode: Rs.3 lakh

Monthly mode: Rs.5 lakh

On maturity, the lumpsum payout of sum assured.

1. Non-linked, participating plan

2. The flexibility of opting premium payments

Limited pay 5 years: 10 or 15 or 20 years Limited pay 7 years: 15 or 20 or 25 years Limited pay 10 years: 15or 20 or25 years Regular pay: 15 or 20 or 25 or 30 years

2.Money Back Advantage Plan

Yearly mode:Rs.1 lakh (entry age 8-50 yrs); Rs.2 lakh (entry age 51-55 years)

Monthly mode: Rs.3 lakh

1. Death benefit payout for 16 yrs.

16 yrs

3.Smart Junior Plan

Yearly mode: Rs.3 lakh

Monthly mode: Rs.5 lakh

1.Limited premium payment

2.Non-linked,
Participating plan

3. The financial security of the child of a policyholder.

12-25 yrs

4.POS-Easy Bhima Plan

Rs.50,000

1.Non-linked,non-participating.

2. An advantage of double life cover in case of accidental death

Pay 5 year: 10 yrs Pay 10 year: 15 yrs or 20 yrs

5.Smart Suraksha Plan

Rs.20 lakh

Financial security to dependents in case of accidental death.

5 yrs or 10 yrs or15 yrs or 20 yrs or 25 years or 30 yrs

6.Smart Future Income Plan

100 times the monthly income chosen

Non-linked, participating life insurance plan

25-year-old life cover and guaranteed monthly income.

25 yrs

7.Smart Monthly Income Plan

100 times the monthly income chosen

Tax-free, guaranteed monthly income

25 yrs

Types of Plan

Basic Amount Assured

Features of Plan

Policy Term

Titanium Plus Plan

Age 0-44 yrs: 10 times annualized premium and 0.5 times policy term X annualized premium

Above age 45 years: 7X annualized premium and 0.25X policy term X annualized premium

1.Unit-linked investment and protection plan.

2. Loyalty additions and wealth boosters are provided.

3.The flexibility of customizing plan.

Limited and regular pay: 10 to 30 yrs

Single pay: 5 yrs

Platinum Plus Plan

Age 0-44 years: 10X annualized premium and 0.5X policy term X annualized premium

Above age 45 yrs: 7X annualized premium and 0.25X policy term X annualized premium

1.Unit-linked,

Non-participating.

2. Life-cover

3. Policyholders get the option of investing in 7 different Unit-linked funds.

3. Policyholders can switch between options of investment based on performance.

10 to 30 yrs

Smart Future Plan

Age 0-44 yrs: 10X annualized premium and 0.5X policy term X annualized premium

Above age 45 years: 7X annualized premium

Unit-linked

Non-participating

Policyholders can switch between high risk and low-risk funds.

Loyalty additions and wealth boosters.

10 or 15/20/25 yrs

Smart Goals Plan

Option 1: Below age 45 yrs: 10X annualized premium

Above age 45: 7X annualized premium Option 2: Below age 45: 0.5 times policy term X annualized premium

Above the age 45: 7X annualized premium

1.Unit-linked

2.Non-participating

3.Partial withdrawals

4. Policyholders can choose from seven types of investment funds.

5. Policyholders can choose equity exposure based on risk-appetite.

Option one: 10 years (fixed)

Option 2: 15 or 20 or 25 years

Smart Life Long Plan

Below age 45: 0.5 times the entry age X annualized premium

Above the age of 45: 7 -10 times the annualized premium

Can invest up to 7 of investment funds.

Can choose equity exposure.

Flexible premium payments.

Up to age 99 yrs

Secure Bhavishya Plan

101% of the premium paid

Non-participating ULIP

Guaranteed maturity benefit.

Loyalty additions added to the policy every five years.

Limited and regular pay: 35 yrs

Single pay: 30 yrs

Smart One Pay Plan

1.25X the single premium

Unit-linked

Non-participating

Loyalty additions are applicable from the 6th year.

5-25 yrs

Insure Smart Plan

Below age 45: 10X annualized premium

Above age 45: 7X of annualized premium

Unit-linked

Non-participating

Life cover

Tax benefits

Single premium payment can be made.

Loyalty additions are applicable from the 6th year.

Partial withdrawals.

10 yrs

Shubh Labh Plan

Below age 45: 125% times single premium

Above age 45: 110% times single premium

Unit-linked

Non-participating

Life cover

Tax benefits

Single premium payment

5-40 yrs

Future Smart Plan

Below age 45: 10 or 15or 20 years: 10 times annual premium

25 yrs: 12.5 times annual premium Above age 45: 7 times annual premium

Non-linked

Non-participating

Long-term investment opportunity to ensure the future of a child.

10 or 15 or 20 or 25 yrs

Grow Smart Plan

Below age 45: 0.5 times the entry age and annual premium Above age 45: 7 times annual premium

Flexibility to choose the premium payment term.

The opportunity for investing in 6 investment funds.

Full life

Type of Plans

Basic Amount Assured

Features of Plans

Minimum Group Size

Group Traditional Benefit Plan

Rs.1,000

Non-linked

Non-participating

Covers all employee benefits

Life cover renewed on a yearly basis.

10 members

Group Superannuation Plan

Rs.1,000

1. Provided to employer-employee groups.

2. This plan can be used to fund Superannuation and pension benefits from the employer.

3. Life cover can be renewed on a yearly basis.

10 members

Sampoorna Kavach Plan

Rs.5,000

Provide life cover to the employee at an affordable rate.

Provides financial security to the family of the insured.

Not Available

Group Secure

Rs.10,000

Non-linked

Non-participating

Provides financial security to the groups who offer loans to their customers.

Can be paid in single pay, limited pay and regular pay.

NA

Corporate Group Plan

Group term: Rs.1,000

Group term substituted EDLI: Rs.3.61 lakh

Beneficial for Employees and Employers.

Premium payment modes are flexible.

Family members and dependents receive financial protection.

10 members

Pradhan Mantri Jeevan Jyoti Plan

Rs.2 lakh

Non-linked

Non-participating

Provide life cover at an affordable rate.

Can be renewed on a yearly basis.

NA

Group Advantage Term Plan

Death Benefit

only: Rs.5 lakh

Death and Accidental Death Benefit: Rs.2 lakh

Can be renewable on a yearly basis.

The premium can be paid partially or entirely by the employer.

Flexible premium payment options.

Coverage can be provided to the spouse.

50 members

Group Credit Secure Plan

Rs.5,000

Policy term: 2-30 yrs

This plan is for people who administer loans.

50 members