POS - Easy Bima Plan
UIN: 136N049V02
Canara HSBC Oriental Bank of Commerce Life Insurance POS - Easy Bima Plan is a pure term life insurance plan with return of premium on date of maturity. It is specially designed to provide an affordable and hassle free protection, to take care of the needs of your loved ones.
Product Parameters
- Age Criteria
- Premium Payment & Policy Term
- Sum Assured
- Annual Premium
- Premium Payment Mode and Modal Factors
Age Criteria
- Entry Age
Minimum
18yearsMaximum
55years - Maturity Age
Minimum
28yearsMaximum
65years
Premium Payment & Policy Term
10 pay with 15 years policy term
10 pay with 20 years policy term
Sum Assured
- Minimum Sum Assured :
50,000
- Maximum Sum Assured:
15,00,000
Annual Premium
- Minimum Premium:
Policy Term 10 year - 2,219Policy Term 15 year - 1,076Policy Term 20 year - 989
- Maximum Premium: No Limit
Depends upon chosen Sum Assured
Premium Payment Mode
and Modal Factors
- Annual & Monthly mode
Annual premium needs to be multiplied with a factor of 0.10 to arrive at the monthly installment premium payable.
Hassle free
The purchase process is simple with minimum requirements and no medical tests.
Double life cover
Get double life cover in case of accidental death.
Return of the total premiums Paid
Total Premiums Paid (total of all the premiums received, excluding any taxes and rider premiums) is return on upon survival till maturity
Premium payment term options
Choice of flexible premium payment and policy term to suit your requirements.
Tax benefits
Avail tax benefit on premium paid and benefit received under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time.
| Death Benefit Payable (other than accidental death) | During the waiting period, that is 90 days from the date of commencement: Return of the Total Premiums Paid. After expiry of waiting period of 90 days from the date of commencement: 100% of Death Benefit Sum Assured. On payment of above Death Benefit, the policy shall terminate and no further benefit shall be payable. |
| Death Benefit Payable (accidental death) | Accidental Death Benefit Sum Assured in addition to the Death Benefit Sum Assured. Waiting period of 90 days from the date of risk commencement is not applicable in case of accidental death. On payment of above Death Benefit, the policy shall terminate and no further benefits shall be payable. Note: Accidental Death Benefit Sum Assured is equal to Death Benefit Sum Assured. For details on Accidental Death Benefit, please refer to the terms and conditions under this plan. |
| Return of Premium on date of Maturity | On survival till Maturity, return of the Total Premiums Paid shall be payable, provided the policy is in force. |
You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of income Tax Act, 1961.
You can customize the policy to suit your financial goals and requirements in just 2 simple steps:
| Step 1: Choose your Sum Assured | Choose your Death Benefit Sum Assured adequately basis your life cover needs to ensure that your financial needs are met (Chosen Sum Assured has to be in multiples of Rs. 50,000). |
| Step 2: Choose your premium payment term and Policy Term | This plan offers flexible premium payment term and policy term options to suit your requirements. |
| Note: The premium amount will be calculated basis your age at entry, sum assured, policy term, premium payment term, premium payment frequency and gender. | |
Case study
Mr. Raghu Das, aged 40, wants to take care of his family's financial needs in case he is no longer around to take care of them. Therefore, Mr. Das decides to opt for Canara HSBC Oriental Bank of Commerce Life Insurance POS Easy Bima Plan for a Sum Assured of Rs 3 Lacs.
Below scenario illustrates the benefits, which are payable under 3 different policy term options available under this plan. He can choose the option which is best aligned to his protection requirements.
| Premium Payment Term/ Policy Term | Sum Assured(Rs) | Death Benefit(non Accidental)(Rs) | Death Benefit(Accidental)(Rs) | Annual Premium*(Rs) | Return of Premium on date of Maturity in case of Annual mode (Rs) | Monthly Premium*(Rs) | Return of Premium on date of Maturity in case of Monthly Mode (Rs) |
| 5 Pay 10 Term | 300,000 | 300,000 | 600,000 | 9,423 | 47,115 | 942 | 56,538 |
| 10 Pay 15 Term | 300,000 | 300,000 | 600,000 | 6,186 | 61,860 | 619 | 74,232 |
| 10 Pay 20 Term | 300,000 | 300,000 | 600,000 | 6,294 | 62,940 | 629 | 75,528 |
*Annual Premium mentioned above excludes Goods and Services Tax & applicable cess(es)/levy, if any.
*Monthly Premium mentioned above includes modal loading but excludes Goods and Services Tax & applicable cess(es)/levy, if any.
