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Canara HSBC Pure Term Plan

Canara HSBC Pure Term Plan is a pure term insurance policy which offers high coverage at low and affordable premiums. In this type of policies, if the life insured dies then the nominee is given the sum assured but nothing is payable to him on maturity. Canara HSBC OBC Life Pure Term Plan is a term insurance plan which is cheaper than most of the term insurance plans in the market.

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Death Benefit
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Income Tax Benefit
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Discount for female
Compare this plan with other Term Plans
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Key Features

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It is a pure Term Insurance Policy with Death Benefit only and no maturity benefit
Discount is provided for female policyholders
Wide choice of term from 5 to 30 years with coverage till 60 years of age

Benefits

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Death Benefit

In case of death of the life insured, the nominee gets the sum assured under the plan as chosen at the time of inception.

Maturity Benefit

This being a pure protection plan, there are no maturity benefits.

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Eligibility

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  Minimum Maximum
Sum Assured (in Rs.) 10,00,000 No Limit
Policy Term (in years) 5 30
Premium Payment Term (in years) Single Equal to policy term
Entry Age of Policyholder 18 64
Age at Maturity - 74
Single premium (in Rs.) NA NA
Payment modes Single, Yearly, Half-Yearly, Quarterly, Monthly

FAQs

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angle down iconWhat happens if policyholder stop paying the premium

If the policy holder stops paying the premium, then the policy would lapse. You can re-instate the policy within 5 years of lapsation by paying up all due premiums with interest.

angle down iconWhat happens if policyholder want to surrender the policy

There are no surrender benefits under this term plan.

angle down iconWhat happens if policyholder want a loan against your policy

Loan facility is not available under this policy.