Toll Free: 1800-103-0003 | SMS: 97790-30003
NEW CUSTOMER
EXISTING CUSTOMER
Home All Plans Online Plans iSelect Plus
GET A CALL BACK
iSelect Plus
iSelect Plus
iSelect Plus

Canara HSBC Oriental Bank of Commerce Life Insurance iSelect+ Term Plan

UIN: 136N072V01

An Individual Non-Linked Non-Par Pure Risk Premium Life Insurance Term Plan

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited iSelect+ Term plan is the shield against all uncertainties of life. A highly flexible term plan that can be aligned to your life stage and needs by offering different options for not only coverage, but also for premium payment and benefit payouts.

Pension4Life Plan Product Parameters Product Parameters

Pension4Life Plan Criteria

Age Criteria

  • Entry Age

    Minimum

    18 years

    Maximum

    65 years
    For Decreasing Coverage Option - 55 years
    For PPT Upto Age 60 years (Under Plan Option Life)# - 55 years
    For PPT Upto Age 60 years (Under other Plan Options)# - 50 years
    For Single Premium Option - 45 years
    For Non-Working Spouse - 50 years
  • Maturity Age

    Minimum

    28 years

    Maximum

    80 years
    For Whole Life Coverage# under Plan Option Life - 99 years
    For ADB / ATPD - 75 years
Pension4Life Plan Criteria

Policy Term

  • Maturity Age

    Minimum

    Plan Option Life - 5 years* except for
    Decreasing Coverage Option where it is 10 years
    Other Plan Options - 10 years

    Maximum

    Plan Option Life - 62 years except for Whole Life Coverage# where it will be fixed at 99 minus Age at Entry
    For Decreasing Coverage Option, Policy Term availability is subject to the period during which cover decreases being at least 5 years
    Other Plan Options - 30 years
Purchase Price & Annuity Installment:

Sum Assured

  • Minimum

    Plan Option Life - Rs. 25,00,000 except for Decreasing Coverage Option where it is Rs. 50,00,000
    Optional In-Built Covers - Rs. 25,00,000
    Other Plan Options - Rs. 15,00,000

    Maximum

    As per Board Approved Underwriting Policy (BAUP)
    For ADB - Rs. 3,00,00,000
    For ATPD PPP - Rs. 1,00,00,000
    For non-Working Spouse - Rs. 25,00,000

*Policy Term of 5 years to 9 years is available only for Age at entry of 35 years and above. Similarly 5 years PPT with Policy Terms up to 9 years is only available for ages at entry of 35 years and above.


#This Option is not available if you have opted for Spouse coverage


@The minimum PPT under this Option will be 5 years and 10 years for Plan Option Life and other Plan Options respectively

Premium Payment Details

Premium Payment Details

    Life Single Premium (not available for Whole Life Coverage) Limited Pay - 5* / 10 / 15 / 20 / 25 / Upto Age 60 years@# Regular Pay - Equal to the Policy Term
    Life with Return of Premiums Limited Pay - 10 / 15 / 20 / 25 / Upto Age 60 years@ Regular Pay - Equal to the Policy Term
    Life with Return of Premiums Limited Pay - 10 / 15 / 20 / 25 / Upto Age 60 years@ Regular Pay - Equal to the Policy Term

iSelect+ Term Plan offers multiple options like whole life coverage, covering spouse in same policy, multiple premium payment options including short tenure like 5 or 10 years as well as option to pay during your working years i.e. till you get 60 years old. The plan also offers an option to avail return of premium benefit wherein all your premiums will be returned once you outlive the policy tenure.

  • Insurance cover at a price that will not pinch your pockets
  • Choose from various options of coverage, premium payment and benefit payouts aligning the plan to your needs
  • Option to cover for a limited period or for your entire lifetime
  • Option to augment cover through additional inbuilt coverages like Accidental Death Benefit, Child Support Benefit, Accidental Total and Permanent Disability Benefit
  • Option of adding Spouse in same policy with a discount on the rates for the Spouse
  • Multiple premium payment options including single bullet payment for entire term or payment for a limited duration of 5/10/15/20/25 years or pay only during your working years i.e. till you turn 60 years besides payment throughout the Policy Term
  • Multiple options to receive benefits as lump-sum, monthly income or part lump-sum part monthly income with the option to choose both level / increasing income
  • Increase your life cover with changing life stages and protection needs in the same plan by augmenting cover at key life milestones
  • Discount on premiums for higher Sums Assured and for female lives
  • Loyalty discount for the existing customers of the Company
  • You may avail tax benefits on premiums paid and benefits received as per prevailing tax laws

Step 1 - Select one of the Plan Options

Life
Life with Return of Premium
Life Plus

Step 2: Select one of the Coverage Options

Level
Increasing
Decreasing

Step 3: Select any of the Optional In-Built Covers

Accidental Death Benefit (ADB)
Accidental Total & Permanent Disability Benefit (ATPD) - Premium Protection
Accidental Total & Permanent Disability Benefit (ATPD) - Premium Protection Plus
Child Support Benefit
These options are not available under Decreasing Coverage Option or Whole Life Coverage under Plan Option Life

Step 4: Option to cover Spouse, if needed
Select any one of the Benefit Payout Options

Lumpsum
Monthly Income
Part Lumpsum & Part Monthly Income

For Part Lumpsum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% and 75% / 25%.

Step 5:

Within Monthly Income, choose level / increasing (@ 5% p.a. or @ 10% p.a.) Monthly Income and choose to receive it in equal monthly installments over 120 months or till the end of the Policy Term or 40 years, whichever is earlier.

Only Lumpsum option is available under Whole Life Coverage under Life Plan Option

B. Once you have tailored the plan based on your need,

  • Choose your Sum Assured, Policy Term, Premium Payment Term and Premium Payment Mode
  • Reply few easy questions about you like age, gender, health status, lifestyle habits, tobacco/alcohol consumptions details and occupational details
  • Generate your premium quote and share remaining relevant personal information regarding occupation, lifestyle and health; and details of your nominee, if applicable
  • Read through the Policy Terms and Conditions and proceed to pay your premium online if you agree with them

Plan Option Life

Under this Plan Option, in case of death or on diagnosis of Terminal Illness, whichever happens earlier, the Sum Assured on Death is payable. Policy terminates upon payment of the benefit.

Both the Life Assured and the Spouse can be covered for the term of the contract, subject to terms and conditions of the policy.

Plan Option Life with Return of Premium

Under this Plan Option, on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier, during the Policy Term, Sum Assured on Death is payable. If you outlive the Policy Term, we will return the Total Premiums Paid by you at maturity. Policy terminates upon payment of these benefits.

Plan Option Life Plus

Under this Plan Option, we will pay Sum Assured on Death on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier. Policy terminates upon payment of the benefit.

In case of survival till maturity, the Total Premiums Paid will be refunded to you on the date of maturity. Further, policy will continue post maturity till you attain 99 years of age which is the Extended Cover Period.

During this period, Sum Assured will be paid on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier. On attaining age 99 years, the Sum Assured will be paid to you. Policy terminates upon payment of these benefits.

Brochure & PDFs