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Canara HSBC OBC Life Samridhi Bhavishya Plan

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Canara HSBC OBC Life Samridhi Bhavishya Plan

Canara HSBC OBC Life Samridhi Bhavishya Plan  is a non linked non-participating annuity plan which will provide you guaranteed lifetime income at attractive annuity rates.
 

Key Features of Canara HSBC OBC Life Samridhi Bhavishya Plan

  • Guaranteed* lifetime income directly credited to your bank account to cater to your needs.
  • Option to receive regular payments for as long as you or your partner is alive.
  • Option to choose lifetime annuity with guaranteed payment period of 5/10/15/20 years.
  • Flexibility to choose annuity installment frequency as annual, semi-annual, quarterly or monthly.
  • High purchase price benefit through increase in annuity rates.
 

Benefits of Canara HSBC OBC Life Samridhi Bhavishya Plan

Death Benefit
As this is an annuity plan so there is no death benefit under this product.

Annuity Options
You can choose one of the following annuity options at the time of purchase:
  1. Lifetime annuity.
  2. Lifetime annuity with guaranteed payment period of 5, 10, 15 & 20 years.
  3. Joint Life, Last survivor with 100% annuity to the secondary annuitant on death of the primary annuitant.


Maturity Benefit: As this is an annuity plan so there is no maturity benefit.

Surrender Value: There is no surrender value under this plan.

Loan Facility: Loan facility is not available under this plan.

Annuity Term
For annuity options (1) and (3) - till the death of the annuitant (Single Life) & till the death of the last survivor (Joint life).
For annuity options (2) till the death of the annuitant or end of guaranteed payment period, whichever is higher.
 

Eligibility Conditions and Other Restrictions in Canara HSBC OBC Life Samridhi Bhavishya Plan

  Minimum Maximum
Entry Age (Last birthday) 30 years No limit
Purchase Price Rs. 2,00,000 No Limit
Annuity Installment Mode Annual, Semi-Annual, Quarterly & Monthly


 
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