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Investment Plans 1178 views December 8, 2020
With the Canara HSBC OBC Guaranteed Savings Plan, you can achieve various financial goals and have insurance cover for your loved ones. By choosing this investment plan, you can ensure that you have the necessary freedom to achieve your goals in a hassle-free manner. You could ask how? Well, this plan provides guaranteed maturity benefits as a lump sum amount and enhanced protection via different rider options. Apart from this, this plan has three different options that you can choose according to your convenience.
In this post, we will be telling you about some of the important information related to the Canara HSBC OBC Guaranteed Savings Plan such as its key features, eligibility, etc. Keep reading to know more!
Table of Contents
Canara HSBC OBC Guaranteed Savings Plan is loaded with some of the best-in-class features such as guaranteed maturity benefits, life cover options, enhanced protection, flexibility to choose from different options, etc. We are showing some of the key features of this plan below. Have a look!
Thinking about the benefits of the Canara HSBC OBC Guaranteed Savings Investment Plan that you can enjoy with its different options? Well, we are talking about them in detail. Have a look!
As you can see from the name, these benefits will be provided at maturity provided there have been no due premiums left from your side. Check out below the benefits you will get.
Remember that on receiving these benefits, your policy will terminate, and you will not receive any further benefit.
If the Life Assured dies during the policy term, and policy is in force, the company will pay a death benefit to the nominee/beneficiary. Look below to know the benefit amount the nominee will get
Remember that if you have opted for Guaranteed Savings with Double Protection Option, and the reason of death happens to be an accident, the nominee will receive an additional amount which will be equal to the Accidental Death Benefit Sum Assured. Also, the sum assured can be the highest of the amounts mentioned below.
Policyholders will also receive Guaranteed Additions every year at a certain percentage of the Annualized Premium. The rate will depend on the chosen premium payment term. We are showing them in the below table. Check it out!
Premium Payment Term | Guaranteed Yearly Additions (% of the Cumulative Annualized Premium) |
---|---|
5 years | 8% |
7 years | 10% |
10 years | 12% |
This benefit will be added to your investment plan at the end of the policy term and will be a definite percentage of the guaranteed sum assured at maturity. Here also, the rate will depend on the premium payment term. Have a look at the below table!
Premium Payment Term | Guaranteed Yearly Additions (% of the Guaranteed Sum Assured on Maturity) |
---|---|
5 years | 10% |
7 years | 14% |
10 years | 20% |
There are a few conditions that you need to know before choosing the Canara HSBC OBC Guaranteed Savings Plan. Check below the conditions you need to meet.