Canara HSBC Oriental Bank of Commerce Life Insurance has launches Insure Smart Plan – A unit-linked insurance plan. Insure Smart Plan provides the option of NAV guarantee fund.
Key features of Canara HSBC Oriental Bank of Commerce Life Insurance Insure Smart Plan are –
- NAV Guarantee Fund – Offers a guarantee of the highest NAV over the fund’s initial 7 years, applicable at maturity
- Short Premium Payment Term & Policy Term – Has a 5-year premium payment term and 10-year policy term
- Loyalty Addition – Loyalty addition of 1% of the total fund value at maturity, based on the prevailing NAVs
- Option of Other Funds – Offers a choice of 5 non-guaranteed funds with 100% equity orientation to 100% debt
- Lower Allocation Charge on SI/ECS – Offers lower allocation charges to customers opting for ECS (Electronic Clearing Service)/SI (Standing Instructions) for payment of premium – an unbeatable combination of lower costs and increased convenience
- Partial Withdrawal – Allows insured to make partial withdrawal for any unforeseen contingency from the 6th policy year
- Risk Cover of Choice – Insured can not only choose the risk cover to secure their family’s financial needs, they can also increase or decrease the sum assured
- Tax Benefits – The insured can avail tax benefits on premiums paid and the benefit paid out under the policy, as per the applicable provisions of Section 80C and Section 10(10D) of the Income Tax Act, 1961.