Canara HSBC Oriental Bank of Commerce Life Pure Term Plan

Name: Canara HSBC Oriental Bank of Commerce Life Pure Term Plan

Type of policy: Term Policy

For buying policy: Yes

If holding policy:Yes

Term insurance is a fantastic product that every single family needs to have, for its earning member(s). It is a pure life insurance policy that gives your family a cover in case of an eventuality to the bread winner. A single term policy of adequate cover will suffice for entire insurance needs.

We typically recommend an insurance cover of 4-8 times your annual income and for as long a term as is available for your age. Find out the ideal cover for you using this calculator.

There are no riders provided by this policy. We recommend a standalone critical illness cover as that gives wider range of cover in terms of number of illnesses, renewability and comes at lower premium. Personal accident cover is really an additional expense to be avoided as it covers your life which is already covered by the term policy.

Product features:



Minimum age at entry

18 years

Maximum age at entry

64 years

Minimum Term

5 years

Maximum policy term

30 years or 69 years of age whichever is earlier

Minimum sum assured

Rs 10 lakh

Maximum sum assured

No Limit



Below table shows indicative premiums for a male.

Your age


Indicative Annual Premium

(For cover of Rs.50 lakh )

25 years


Rs. 10257

30 years


Rs. 12133

40 years


Rs. 20515

50 years


Rs. 34193

*Exclusive of service tax and educational cess.

Returns: If the insured survives term, no benefits are paid. Insurance should be viewed as an expense rather than investment.  Both function best when handled separately.

Better Alternative:

Online Pure Term Policies.

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