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Canara HSBC OBC Life Smart Future Plan

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Canara HSBC OBC Life Smart Future Plan

Canara HSBC OBC life smart future plan is a unit linked, non-participating life insurance plan which provides long-term investment opportunity, life cover, safeguard funds, auto funds rebalancing and tax benefit with financial security to your family.

This plan takes care of your families financial needs when you are not around. In case your unfortunate death your family will get:
  • Lump sum amount is paid on death
  • All future premiums are waived off, in case of death or total & permanent disability (if opted)
  • Fund Value on maturity
 

Key Features of Canara HSBC OBC Life Smart Future Plan

Life Cover: You can choose increasing or decreasing your sum assured to match your requirements during the policy term.

Investment Funds: You can invest in up to six fund options listed below - ranging from 0% to 100% equity exposure.
  • India Multi-Cap Equity Fund
  • Equity II Fund
  • Growth Plus Fund
  • Balanced Plus Fund
  • Debt Plus Fund
  • Liquid Fund
Auto Funds Rebalancing: You can maintain allocation of your investments in a specific proportion across funds, irrespective of market movements.

Safety Switch Option: You have the option to switch your money to low risk fund as your policy nears maturity.

Switching and Redirection: You have the option of switching and redirection between the fund options to take advantage of market movements or change in risk preference.

Policy Term & Premium Payment Term: Basis your family’s needs, you can choose the Policy Term (10/15/20/25yrs). Further, you can also choose a Premium Paying Term to suit your earning capacity.

Premium Paying Mode: You have the flexibility to choose annual or monthly mode to pay premiums as per your requirement or to suit your income stream. You can also change your premium payment mode anytime during the policy term.
  • Liquidity: You can choose to take partial withdrawals to help you meet unplanned contingencies.
  • Tax benefits: You may be entitled for tax benefits under Section 80C and Section 10(10D), as per the Income Tax Act, 1961.
 

Benefits of Canara HSBC OBC Life Smart Future Plan

Death benefit: In case of your unfortunate death or disability your family (Nominee) will get:
  • Lump sum amount is paid on death
  • All future premiums are waived off, in case of death or total & permanent disability (if opted)
  • Fund Value on maturity
Maturity Benefit: If you survive till the end of the policy term, you will receive the fund value.
 
Policy Term & Premium Options: You can choose the Policy Term as 10,15,20 & 25 years. Also you can choose a premium paying term from 10 to 20 years.

Premium Funding Benefit: In case of your death, all your future premiums are waived off and your child will receive the fund value at maturity as planned by you.

If you have opted for Premium Funding Benefit for disability, then in case of your Total & Permanent Disability, all future premiums will be waived off and life cover will continue. Sum Assured will be payable on subsequent death and fund value will be paid at maturity to your child.
 

Eligibilty Conditions and Other Restrictions in Canara HSBC OBC Life Smart Future Plan

 
  Minimum Maximum
Policy Term    
     
     
     
     
     
     
     
     

 
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