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Insurance Company
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Canara HSBC OBC Life Insurance Company Ltd
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Plan Name
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Canara HSBC Life Dream Smart Plan
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Plan Nature
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ULIP
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Plan Category
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Investment Plan
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UIN No.
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136L015V01
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About Plan
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Canara HSBC Oriental Bank of Commerce Life we understand theimportance of realizing your dreams. Hence our Dream Smart Planwith its flexible features has been designed to help you plan yourfinancial requirements so that you have the means to fund yourdreams, with no compromises.
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Minimum Entry Age
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7 Years
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Maximum Entry Age
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60 Years
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Maximum Maturity Age
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80 Years
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Policy Term
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20 Years
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Minimum Premium
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Rs.25000
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Maximum Premium
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No Limit
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Minimum Sum Assured
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For ages below 45 years:10 x Annual PremiumFor ages 45 years to 60 years:7 x Annual premium
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Maximum Sum Assured
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No maximum limit.
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On survival till end of policy term, the fund value will be paid.
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Death Benefits
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· Before the age of 60 years, your nominee will receive the higher ofi. Sum Assured less withdrawals in the preceding two years, orii. Fund value, oriii. 105% of all premiums paid less withdrawals in the preceding two years· At 60 years of age or above, your nominee will receive the higher ofi. Sum Assured less withdrawals after attaining 58 years of age, orii. Fund value, oriii. 105% of all premiums paid less withdrawals post attaining 58 yearsof age.
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Partial Withdrawal Benefit
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To take care of any unforeseen liquidity cruh, you can make partial withdrawals from your policy without completely surrendering it. Partial withdrawals are allowed from the sixth policy year. Partial Withdrawal charges are as detailed in the 'Charges section'.The minimum withdrawal amount is 10,000 and the maximum is such that the fund value after withdrawal does not fall below 120% of the first year premium. If the life insured is a minor, partial withdrawals will be allowed from the first policy anniversary post the minor attaining 18 years of age.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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Flexible Premium Payment Term: You can choose a premium payingterm (10 years or more) to suit your earning capacity.Loyalty Additions: 1% of your fund value added by way of additional 15th allocation of units at the end of 15 policy year to boost your investments.
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Flexibilities under the plan:· Choose your life cover: You have the flexibility to choose your life cover based on your protection needs. Also, you have the option of increasing or decreasing your Sum Assured anytime during the Policy Term· Investment funds: Invest in up to five fund options - ranging from 0% to 100% equity exposure· Switching/Redirection: Switch between the fund options to takeadvantage of market movements.
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Balanced Plus Fund
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Debt Plus Fund
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Discontinued Policy Fund
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Equity Fund II
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Growth Plus Fund
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Liquid Fund
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Particulars
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Range
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Balanced Plus Fund
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Equity
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30% - 70%
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Debt Securities
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30% - 70%
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Money Market
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0% - 40%
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Debt Plus Fund
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Debt Securities
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60% - 100%
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Money Market
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0% - 40%
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Equity Fund II
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Equity
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60% - 100%
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Money Market
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0% - 40%
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Growth Plus Fund
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Equity
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50% - 90%
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Debt Securities
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10% - 50%
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Money Market
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0% - 40%
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Liquid Fund
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Debt Securities
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0% - 60%
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Money market
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40% - 100%
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Balanced Plus Fund
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20-May-13
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11.126
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Debt Plus Fund
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20-May-13
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12.807
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Discontinued Policy Fund
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20-May-13
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11.264
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Equity Fund II
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20-May-13
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11.217
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Growth Plus Fund
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20-May-13
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10.213
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Liquid Fund
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20-May-13
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14.442
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Balanced Plus Fund
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Debt Plus Fund
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Discontinued Policy Fund
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Equity Fund II
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Growth Plus Fund
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Liquid Fund
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16-Jun-09
09:41
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HSBC intends to raise stake in insurance JV
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01-Jun-09
21:14
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Benefit through bancassurance
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25-May-09
09:49
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Doubling size of distribution network : Canara HSBC Oriental Life Insurance
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27-Apr-09
11:23
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Canara HSBC Oriental Life Insurance Company looking to double the coverage of branches
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29-Jan-09
16:51
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Insurers to inform consumer on bouncing of cheque
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