Canara HSBC Oriental Bank of Commerce Life Pure Term Plan

Through the various stages in your life, you try to protect your loved ones emotionally and financially. But there are times when you ask yourself, what if I am not around to take care of my family? Have I secured my loved ones financially, in case I am not around? Can I plan for the financial security of my family while meeting my current goals?

At Canara HSBC Oriental Bank Of Commerce Life Insurance Company Limited, we understand this, and work tirelessly towards partnering with you in helping you protect your family financially. 

We are proud to present to you a term insurance plan that will protect your family from financial uncertainties and help you secure their future.  

Key Features of Canara HSBC Oriental Bank of Commerce Life Pure Term Plan

• Economical life cover – Sum Assured at affordable cost, across a wide range of coverage ages & Sum Assured
• Wide range of Policy Terms to meet your needs accurately  - choose a term from 5 to 30 years or choose coverage till age 60 years 
• Flexible Premium Paying Options – The plan provides you Regular and Single Premium Paying options
• Rebate on premium rates for female lives
• Save tax while investing under section 80C and get tax-free benefits under section 10 (10 D) under the  Income Tax Act, 1961¹

Eligiblity Criteria

Sum Assured	Minimum – Rs 10 Lakhs for both Single Premium and Regular Premium Payment Options
Entry Age*	Minimum – 18 Years Maximum – 64 Years
Maturity Age*	Maximum - 74 Years
Premium Paying Term	Single/ Policy Term
Policy Term	Choose a term from 5 to 30 Years (Subject to maximum maturity age of 74 years)   Or Coverage till Age* 60 Years – (For entry ages less than or equal to 55 years)
Premium Payment Frequency	Single, Yearly, Half-yearly, Quarterly, Monthly

*Age is based on last birthday 

¹The tax benefits are as per the laws prevailing on the date of issuance of this brochure, and are subject to changes

How Does The Plan Work?

• Choose the amount of protection you need
• Decide on the term of your Policy
• Choose your premium paying option and premium paying mode
• Complete your Application Form and submit it with the required premium and the necessary documents
• We shall be notifying you on the requirement of medical examinations, if required. After assessment of your medical conditions and health standard by the Company on the basis of the information/ documents provided by you and basis which medical tests conducted if any, the Policy will be issued and sent to you
• Your Policy's risk coverage shall commence on a date latter of underwriting acceptance or premium realization.

Benefits under the Plan

Death Benefit:

In case of the unfortunate death of the Life Assured during the policy term, the benefit payable to the nominee is the Sum Assured under the Policy.

Maturity Benefit:

There will be no survival benefits payable under this plan.

Tax Benefit¹:

• Premiums paid under this policy will be eligible for tax benefit under Section 80C and
• Any benefit amount paid to you will be eligible for tax benefits under Section 10(10D), as per prevailing Income Tax laws.

For specific details, please contact your tax consultant.

For detailed description of the product features, benefits, flexibilities & boundaries, kindly refer to the brochure by clicking on the hyperlink.