Canara HSBC OBC iSelect Star Term Plan

Established in 2008, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture between Canara Bank, Oriental Bank of Commerce, and HSBC Insurance (Asia-Pacific) Holdings Limited. The insurance provider offers an array of life insurance products, and the iSelect Star term plan is one of them. The iSelect Star Term plan by Canara HSBC Oriental Bank of Commerce is comprehensive, providing life cover, terminal illness cover, and accidental death/ disability cover. This policy offers a financial shield against all uncertainties of life and comes with flexible options for coverage, premium payment, and benefits payouts.

Canara HSBC OBC iSelect Term Plan Features

• Canara HSBC OBC iSelect Term Plan offers comprehensive life cover at an affordable price.
• This plan comes with various flexible coverage options, premium payment, and payouts that you can choose according to your needs.
• The policy also comes with an option to cover for a limited period or entire lifetime.
• Canara HSBC OBC iSelect Term Plan provides long-term financial security, that is, life cover up to 80 years.
• It comes with additional inbuilt coverages such as Child Support benefit, Accidental Death Benefit, Accidental Total, and Permanent Disability Benefit.
• You can add spouse cover in the same policy with a discount on the premium rates for the spouse.
• The policy offers multiple benefit options, including monthly, lump-sum or partly lump-sum, partly monthly, and opting for level/ increasing income.
• The life cover can be increased with changing life stages and protection requirements under the same plan.
• Discount on premiums for female buyers and higher sum assured.
• There is a loyalty discount for the existing customers.
• Tax benefits are available on the premium paid as per the prevailing tax laws of the Income Tax Act.

Canara HSBC OBC iSelect Term plan Eligibility Criteria

Parameters	Features
Minimum Age at Entry	18 years
Maximum Age at Entry	65 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
Minimum Maturity Age	28
Maximum Maturity Age	80 years  For Whole Life Coverage under Plan Option Life – 99 years  For ADB / ATPD – 75 years
Minimum Policy Term (subject to Maximum Maturity Age)	Plan Option Life – 5 years* Other Plan Options – 10 years
Maximum Policy Term (subject to Maximum Maturity Age)	Plan Option Life – 62 years except for Whole Life Coverage# where it will be fixed at 99 minus Age at Entry Other Plan Options – 30 years
Premium Payment Term	Life option –  Single Premium (not available for Whole Life Coverage)  Limited Pay – 5* / 10 / 15 / 20 / 25 / Up to Age 60 years@#  Regular Pay – Equal to the Policy Term
	Life with Return of Premiums –  Limited Pay – 10 / 15 / 20 / 25 / Up to Age 60 years  Regular Pay – Equal to the Policy Term
	Life Plus  – Limited Pay – 10 / 15 / 20 / 25 / Up to Age 60 years@  Regular Pay – Equal to the Policy Term
Premium Payment Mode	Yearly / Half-yearly / Quarterly / Monthly  The Policyholder may change the premium payment mode anytime during the PPT under Plan Option Life subject to the application of modal factor. There is no fee for such alteration.
Minimum Sum Assured	Plan Option Life – Rs 25,00,000  Optional In-Built Covers – Rs 25,00,000  Other Plan Options – Rs 15,00,000
Maximum Sum Assured	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

Canara HSBC iSelect Term Plan Benefits

• Canara HSBC OBC iSelect Term Plan comes with Plan option life wherein in case of unfortunate demise of the policyholder or diagnosis of terminal illness (whichever happens earlier), the sum assured is paid, and the policy terminates.
• This plan offers a maturity benefit by paying back all the premiums paid if the policyholder outlives the policy term.
• Under the Plan Option Life Plus, the sum assured on death or on the diagnosis of terminal illness, whichever happens, earlier is payable. In case of survival till the end of the policy term, the premiums paid are refunded on the date of maturity. Moreover, the policy continues till the age of 99 years, which is the extended cover period. During this period, in case of death or on the diagnosis of terminal illness, whichever happens, earlier, the sum assured is paid. On reaching 99 years, the sum assured is paid to the policyholder.

Canara HSBC iSelect Term Plan Exclusions

Accidental death arising directly or indirectly from any of the following are excluded:

• Any condition, ailment or injury, or related condition(s) for which you had signs or symptoms, and/or were diagnosed, and/or received medical advice/treatment within 48 months prior to this policy issued by the insurer or at the time of reinstatement of the policy.
• In case the life assured takes part in any hazardous sport or pastimes (including hunting, mountaineering, racing, steeplechasing, bungee jumping, etc., any underwater or subterranean operation or activity and racing of any kind other than on foot.
• The life assured flying in any kind of aircraft, other than as a bonafide passenger (whether fare-paying or not) on an aircraft of a licensed airline.
• Self-inflicted injury, suicide, or attempted suicide-whether sane or insane.
• Under the influence or abuse of drugs, alcohol, narcotics, or psychotropic substances not prescribed by a registered Medical Practitioner.
• Service in any military, air force, naval or paramilitary organization.
• War, civil commotion, invasion, terrorism, hostilities (whether war be declared or not).
• The life assured taking part in any strike, industrial dispute, and riot.
• The life assured taking part in any criminal or illegal activity with criminal intent or committing any breach of law, including involvement in any fight or affray.
• Exposure to Nuclear reaction, Biological, radiation, or nuclear or chemical contamination.
• Physical handicap or mental infirmity.

Exclusions for Accidental Total and Permanent Disability Benefit (ATPD):

• Any condition, ailment or injury, or related condition(s) for which you had signs or symptoms, and/or were diagnosed, and/or received medical advice/treatment within 48 months prior to this policy issued by the insurer or at the time of reinstatement of the policy.
• The life assured taking part in any hazardous sport or pastimes (including hunting, mountaineering, racing, steeplechasing, bungee jumping, etc., any underwater or subterranean operation or activity, and racing of any kind other activity.
• In case of death due to suicide within 12 months from the revival date of the policy.
• The life assured flying in any kind of aircraft, other than as a bonafide passenger (whether fare-paying or not) on an aircraft of a licensed airline.
• Self-inflicted injury, suicide, or attempted suicide-whether sane or insane.
• Under the influence or abuse of drugs, alcohol, narcotics, or psychotropic substances not prescribed by a registered Medical Practitioner.
• Service in any military, air force, naval or paramilitary organization.
• War, civil commotion, invasion, terrorism, hostilities (whether war be declared or not).
• The life assured taking part in any strike, industrial dispute, riot.
• The life assured taking part in any criminal or illegal activity with criminal intent or committing any breach of the law, including involvement in any fight or affray.
• Exposure to Nuclear reaction, Biological radiation or nuclear, biological or chemical contamination.
• Physical handicap or mental infirmity.

Canara HSBC OBC iSelect Term Plan Review

The iSelect Term Plan by Canara HSBC OBC is a pure protection plan, providing life insurance and terminal illness cover along with several other benefits and features to offer comprehensive protection to your family in your absence. This policy caters to the growing needs at different life stages, ensuring a financially secured future.