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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 Insure Smart Plan
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Plan Nature
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ULIP
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Plan Category
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Savings & Investment Plan
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UIN No.
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136L019V01
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About Plan
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This is a unit linked insurance plan that helps you generate wealth by investing in a mix of debt and equity along with providing life cover. You can choose to invest in our NAV Guarantee Fund that offers a guarantee of the highest NAV over the fund's initial 7 years tracking period, at maturity while assuring gains against any potential downsides. In this plan, you pay premiums for 5 years and get life cover for 10 years.
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Minimum Entry Age
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8 years
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Maximum Entry Age
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70 Years
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Premium Paying Term
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5years fixed period
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Maximum Policy Term
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10 Years
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Benefits
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| Particulars | Description |
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Maturity Benefits
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Your policy will mature at the end of 10 years. In case of NAV Guarantee Fund, you will receive the fund value based on the highest NAV of the tracking period or NAV at maturity, whichever is more. In case of non-guaranteed funds, you will receive the fund value based on the prevailing NAVs at maturity. Moreover, Loyalty additions will also be payable.
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Death Benefits
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In case of unfortunate death of the life assured, the nominee (the person nominated to receive the benefits under the plan)/ legal their will receive the higher of the fund value and the sum assured.
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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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Partial Withdrawal: You can easily withdraw money from your fund in case of financial emergency through Partial Withdrawal, from the 6th policy year.
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Fund Switching & Premium Redirection: You can actively manage your investments by switching to non-guaranteed funds and through redirection of premiums.
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Change in sum assured: You can increase or decrease your sum assured, depending on your changing needs, from the 6th policy year, provided all due premiums are paid.
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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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NAV Guarantee 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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NAV Guarantee Fund
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Equity
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0% - 100%
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Debt Securities
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0% - 100%
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Money Market
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0% - 100%
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Balanced Plus Fund
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23-May-13
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10.943
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Debt Plus Fund
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23-May-13
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12.806
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Discontinued Policy Fund
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23-May-13
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11.27
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Equity Fund II
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23-May-13
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10.853
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Growth Plus Fund
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23-May-13
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9.961
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Liquid Fund
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23-May-13
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14.452
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NAV Guarantee Fund
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23-May-13
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11.297
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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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NAV Guarantee 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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