Canara HSBC OBC Life Smart Suraksha Plan

Canara HSBC OBC Life Smart Suraksha Plan

Canara HSBC Oriental Bank of Commerce Life Insurance Smart Suraksha Plan is a pure protection plan that provides life insurance cover along with the option to cover against accidental death/ disability.
 

Key Features of Canara HSBC OBC Life Smart Suraksha Plan

• Get Life Insurance Cover at a low cost.
• Option to cover accidental death or/and total and permanent disability.
• Reward for healthy lifestyle - lower premium rates for non-consumers of tobacco.
• Rebate for higher sums assured.
• Rebate for women.
• Tax benefits on premium payments.

 

Benefits of Canara HSBC OBC Life Smart Suraksha Plan

Death Benefit :

1. Life Cover: In case of the unfortunate death of the Life Insured, the sum assured will be paid to the nominee.
2. Accident Plus: In case of the unfortunate event of death of the Life Insured due to an accident an additional amount equal to the Sum Assured will be paid to the nominee along with the sum assured.
3. Disability Plus: In case of the unfortunate death of the Life Insured, the sum assured will be paid to the nominee. In case the life insured suffers from accidental total and permanent disability, the sum assured under the policy will be paid to the life assured and the policy will terminate. 

Maturity Benefits:
This being a term plan, no benefits are payable on maturity.

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

Eligibility Conditions and Other Restrictions in Canara HSBC OBC Life Smart Suraksha Plan

	Minimum	Maximum
Entry Age	18 years	65 years
Maximum Maturity Age	75 years
Policy Term	5,10,15,20,25,30 years or coverage up to Age 60
Premium Payment Term	Same as policy term
Sum Assured	Rs. 20,00,000	Maximum Sum Assured in Life Cover option - No Limit  Maximum Sum Assured under Accident Plus: Rs. 3 Cr Maximum Sum Assured under Disability Plus: Rs. 1Cr
Premium Payment Mode	Annual & Monthly