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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 Smart Sanchay Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Protection Plan
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UIN No.
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136N021V01
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About Plan
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This plan which will help your members to fulfill their dreams along with providing financial protection to their families. This is a traditonal, non-participating protection cum savings plan which will safeguard your members against the uncertainties of life and provide attractive returns at the same time.
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Minimum Entry Age
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18 years
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Maximum Entry Age
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50 years
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Maximum Maturity Age
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60 years
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Minimum Premium
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Rs.6000
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Maximum Premium
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Rs.10000
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Premium Paying Term
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5 years
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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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Insured members will receive 137.5% (equal to the current savings account interest rate of 4% compounded semi-annually) of the total cumulative premiums paid on survival to the end of the cover term of 10 years.
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Death Benefits
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In the unfortunate event of death of the insured member, Sum Assured will be paid to the nominee.
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Accident Benefit
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In case of death of the insured member due to accident an additional benefit equal to the Sum Assured will be paid. Accident will mean an event resulting solely from sudden, unexpected, violent external force, independently of any other cause.
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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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Simplicity: This plan has a simple enrolment process where the members are required to fill up a simple form to get the cover.
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No Medicals:The insurance cover will be provided based on individual evidence of health and the members need not undergo any medical examination.
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Affordable Premium:Your members can buy this product with a premium amount of as low as Rs.6000 per annum.
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Limited Premium Payment Term:This is a limited pay product where insurance cover is provided to the member for 10 years while the member is required to pay premium only for 5 years.
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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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