Guaranteed Savings Plan

Some goals cannot be left to chance. Like educating your child, or planning for her marriage, or providing financial security to a loved one. How can you make sure that such important goals are always achieved? First, you need a life insurance plan that allows you to save regularly to reach your objective. Second, you want the life insurance plan to give you assured returns that are not dependent upon the vagaries of the capital markets, or the bonuses declared by the insurance company. Third, you want the life insurance plan to work and your goal to be achieved even if anything happens to you.

Presenting Canara HSBC Oriental Bank of Commerce Life Insurance Guaranteed Savings Plan that offers guaranteed benefits along with the flexibility to choose your savings horizon

WHAT ARE THE OPTIONS UNDER THE PLAN?

You can opt for any one of the following options:
1. Guaranteed Savings Option,
2. Guaranteed Savings with Double Protection Option, or
3. Guaranteed Savings with Premium Protection Option.
These options are explained in the "What are the key benefits of the plan?" section. The plan option can only be chosen at policy inception, and cannot be altered later.

WHAT ARE THE KEY HIGHLIGHTS OF THE PLAN?

1. Guaranteed benefits payable on maturity, provided all due premiums have been paid.

2. Provides life cover for the entire term while you pay premium only for a limited period.

3. Option to choose enhanced protection for your family - Life insurance protection through payment of lump sum benefit on death, all remaining premiums are not payable and guaranteed benefits payable on maturity (under Guaranteed Savings with Premium Protection Option).

4. Flexibility to choose a payment term suitable for you - Choice of premium payment terms which can closely align to your premium payment capacity and horizon.

5. Customize your savings horizon to your important financial goals - Multiple policy term options to help you select the best suited policy term which is closely aligned to your financial goals.

6. Better value for higher premium - High Premium Booster to ensure that you get extra benefit for making a higher premium commitment.

You may be entitled for Tax Benefits# under Section 80C and Section 10(10D), as per the Income Tax Act, 1961 as amended from time to time. #Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.

HOW DOES THE PLAN WORK?

You can customize the policy to suit your financial goals and requirements in just 3 simple steps:

Step 1 - Choose your plan option Depending on your financial need, select the plan option:
1. If your goal is to get a life cover during the policy term and lump-sum on maturity, we recommend you to opt for 'Guaranteed Savings Option'.

2. If your goal is to get enhanced protection during the policy term and lump-sum on maturity, we recommend you to opt for 'Guaranteed Savings with Double Protection Option. (Please note only in case of accidental death the additional amount equal to Sum Assured on Death is payable, and, in case of death due to any reason other than accident, no additional amount is payable.)

3. If your goal is to save for your child's future we recommend you to opt for 'Guaranteed Savings with Premium Protection Option'.

Step 2: Choose your premium Choose your premium amount. You can check the guaranteed amount available at policy maturity to ensure that your financial needs are met.

Step 3: Choose your premium payment term, premium payment mode and policy term Choose how long you would like to pay premium, at what frequency and your policy term, to align with your payment preference, savings horizon and future goals.

The Sum Assured in this plan will be determined basis your age and the options chosen above. If your Annualized Premium is eligible for High Premium Booster, the Sum Assured will be enhanced by the High Premium Booster %. (refer section "What are the other benefits in this plan?")