Canara HSBC - Saral Jeevan Bima

Saral Jeevan Bima

About Saral Jeevan Bima

A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan

Canara HSBC Oriental Bank of Commerce Life Insurance Saral Jeevan Bima is the shield that protects you against uncertainties of life and ensures your plan to fulfill the dreams of your loved ones are not hindered.

Why Buy

Saral Jeevan Bima is an easy to understand and affordable Term Insurance Plan offering a lump sum benefit in case of Death of the Life Assured. The plan provides flexibility of Basic Sum Assured, Premium Payment Term, Policy Term and Premium Payment Frequency that can be aligned as per Insurance needs.

KEY FEATURES

1. Insurance cover at affordable price
2. Ensure financial protection for your family in case of eventuality
3. Easy to understand and Hassle Free purchase process
4. Multiple Premium Payment Term options (Single Premium/ 5 or 10 years Limited Premium Payment/ payment throughout the Policy Term)
5. Tax benefits as per applicable laws as amended from time to time

Benefits



If death (including Accidental Death) occurs after the Waiting Period and the Policy is in-force
Sum Assured on Death is payable as a lump sum benefit and Policy terminates

Sum Assured on Death:



Annualized Premium is the total amount of Premium payable in a policy year, excluding the corresponding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

Single Premium is the total amount of Premium payable at outset, excluding the corresponding taxes, rider premiums and underwriting extra premiums, if any.

Absolute amount assured to be paid on death shall be equal to the Sum Assured specified in the Schedule as opted by the Policyholder at the inception of Policy.

Total Premiums Paid means total of all the premiums received, excluding rider premiums and taxes.

How it works

Step 1: Choose your Sum Assured
Step 2: Choose your Policy Term, Premium Payment Term and Premium Payment Frequency
Step 3: Reply few easy questions about you like age, occupation, education, health status, tobacco/alcohol consumptions, etc. as required
Step 4: The premium amount is calculated basis the details provided
Step 5: Read through the Policy Terms and Conditions and proceed to pay your premium if you agree with them

The product shall be offered to individuals without restrictions on gender, place of residence, travel, occupation or educational qualifications.

Waiting Period

A Waiting Period of 45 days will apply from the date of commencement of risk. The Policy will cover Death due to Accident only during this period. In case of death of the Life Assured other than due to Accident during the Waiting Period, an amount equal to 100% of Total Premiums Paid shall be paid and Policy will terminate for any future benefits.

Sum Assured

Rs. 5,00,000 to Rs. 25,00,000

(Sum Assured can be opted in multiples of Rs. 50,000)

Eligibility