Canara HSBC OBC Life Money Back Advantage Plan

Family protection for 16 years through payout of death benefit in case of unfortunate death of the life insured

Limited payment term of 10 years to suit your finances and preference

Three Guaranteed Money Back payouts of 15% of the Sum Assured each at the end of 5th, 9th and 13th policy year to meet your planned milestones.

At Maturity, you will receive a guaranteed lump sum payout equal to 55% of the Sum Assured along with accrued simple reversionary bonuses and terminal bonus (if any)

Rebate on premiums for high Sum Assured

Tax benefits on premiums paid and benefits received under Section 80C and Section 10(10D), as per the Income Tax Act, 1961

You will receive Guaranteed Money Back payouts at the regular intervals as specified in the table below provided all due premiums are paid.

On your survival till maturity provided all due premiums are paid, you will receive Guaranteed Sum Assured on Maturity equal to 55% of Sum Assured along with accrued Simple reversionary bonus and Terminal bonus, if any.
On payment of above benefits, your policy will terminate.

In case of your unfortunate death during the policy term, provided all due premiums are paid, the death benefit payable to your nominee will be as follows:
Higher of:
1) Sum Assured on Death plus accrued Simple reversionary bonus plus Interim bonus (for the part of the year in which death occurs, if any) plus Terminal bonus (if any); or
2) 105% of {the total premiums paid till the date of death less underwriting extra premium, if any}.
   Where Sum Assured on Death is the amount which is higher of :-

• 10 times the Annualised Premium; or
• Sum Assured

On payment of above benefits, your policy will terminate.

You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of income Tax Act, 1961