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Term Insurance 770 views May 18, 2021
Want to provide a financial safety net to your family when you are not around? Canara HSBC OBC eSmart Term Plan could help achieve the same by providing a death benefit to your family if you die during the policy term. With this term plan from Canara HSBC OBC, individuals can provide the required financial cushion to their families in their absence at an affordable cost. Individuals can choose this plan within a few minutes online.
Let’s look at the key features of the Canara HSBC OBC eSmart Term Plan that make it so popular among customers.
Want to know these features of the Canara HSBC OBC eSmart Term Plan in detail? On this page, we will be discussing them in detail so that you can make the right choice. Let’s start right away!
Table of Contents
Canara HSBC OBC eSmart Term Plan is a pure term online life insurance plan with which individuals can choose a definite amount (sum assured) that their families will get in an unfortunate event. We are discussing the features of this online term plan below. Please check!
Apart from the base sum assured, Canara HSBC OBC eSmart Term Plan also provides an accidental death benefit to the policyholder’s family in case of his/her demise due to an accident. This benefit will be an additional sum assured up to INR 1 crore. Also, the death of the insured person should happen within 180 days of the accident to be eligible for this benefit.
This online term plan from Canara HSBC OBC offers two death benefit options in case a policyholder dies during the policy term – Option A and Option B.
Under Option A, the nominee will get the sum assured, while under Option B, the nominee will receive the sum assured plus accidental death benefit (up to INR 1 crore). However, the term plan will provide benefits only if all the due premiums have been paid until the date of death. Also, you will not get any maturity or surrender benefits under this plan.
Canara HSBC OBC eSmart Term Plan provides multiple policy term options from which policyholders can choose according to their requirements. These options are 5, 10, 15, 20, 25, 30, 35 and 40 years. However, an individual should not be more than 75 years at the end of the policy term.
Individuals can get a higher life coverage of INR 25 lakhs or more with this term plan from Canara HSBC OBC. With this amount, individuals can secure their family’s financial future in case of an unfortunate event like death.
In the event of a claim, Canara HSBC OBC assigns a dedicated manager who will assist the policyholder’s family in each step of the claim settlement. The insurer ensures that if something unfortunate happens to a policyholder, his or her family could access the claim amount in a hassle-free manner. The nominee can initiate the claim process online through our website, email, toll-free number, a letter, or through any of the Canara HSBC branches.
If a policyholder is disagreeing with the terms and conditions of the policy, he/she can cancel the policy within a free look period of 30 days from the date of receipt of policy documents.
We are showing the conditions related to the Canara HSBC OBC eSmart Term Plan eligibility criteria below. Please check!
In case of the following situations, policyholders will not receive any accidental death benefit.