Get Quotes from Top Insurers with Lowest Premium
Enter Details > Get Quotes > Buy Your privacy is protected.
Unbiased information on plans from varied insurance companies
Easy comparisons to choose the best insurance plan
No hidden costs, pay the same premiumas offered by the insurer
Pre and post sales expert assistance for smooth online buying experience
Reliable, Accurate and Quick policy servicing
Our representative will get back to you soon.
You can also directly contact us at

Canara HSBC OBC- Smart Vriddhi Plan

What is the Plan all About?

Canara HSBC OBC- Smart Vriddhi plan is a traditional endowment plan which offers you to plan your savings for a better future of your loved ones. This plan is a participating life insurance plan which participates in the profits of the company. This plan offers the premium at an affordable price for a better tomorrow. This plan has been discontinued.

What are the Key Features?

  • Comprehensive saving plan
  • Family protection by offering death benefit
  • Guaranteed maturity benefit
  • No medical tests required at the inception
  • Affordable premium charge
  • Avail Tax Benefit under IT Act

What are the Plan Benefits?

Death Benefit

    Death benefit Sum Assured is paid in the event of death of the life insured.It is an amount which is  Higher of:

    1. Death Benefit Sum Assured plus added annual (reversionary) bonus (and any interim bonus for the part of the financial year in which death occurs) and final (terminal) bonus (if any) accrued till date of death

    2. 105% of {the total premiums paid till the date of death less extra premium (if any)

Maturity Benefit

    Maturity benefit is payable if the insured survives the policy term. On the survival of the Life Assured to the end of the policy term maturity benefit is payable to the Policyholder which is; Guaranteed Sum Assured at Maturity + Accrued Annual Bonus (If Any) + Final Bonus (If Any) provided the policy is in-force and Guaranteed Sum Assured at Maturity is equal to Sum Assured under the plan.


    Applicable bonus is paid by the company.

Loan Benefit

    The policy is not eligible for loans.

Surrender Value

    If premiums under this policy have been paid at least for the first two years by the policyholder, the policy shall acquire a Guaranteed Surrender Value (GSV). The Guaranteed Surrender Values payable under this product is the applicable GSV Factor multiplied by the  Sum of Premiums Paid till date.

Tax Benefit

    Premiums paid, are eligible for the tax benefits as per Section 80C  and the death benefit qualify for tax benefits under section 10 (10D) of the Income Tax Act.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 18 Years 50 Years
Age at Maturity 28 Years 60 Years
Policy Tenure 10 Years 10 Years
Premium Paying Term Limited Pay- 5 Years -
Premium Paying Mode Annually -
Premium Amount Rs 8,000 Rs 10,000
Sum Assured Rs 80,000 Rs 1,80,000
Freelook Period 15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days -
Plan Type Offline -

Is any Rider Available with this Plan?

No Riders are available under this plan.

How the Plan Works?

Let's understand the benefits of this plan  with the help of a case study.

Life Insured: Raman

Age: 35 years (age last birthday)

Annual premium: Rs 10,000

Canara HSBC Smart Vriddhi Plan

  • Annual premium mentioned above is exclusive of applicable taxes.
  • Please note that the Guaranteed Surrender Value (GSV) shown above is guaranteed. Please refer to the surrender value section in key terms and conditions for the formula and factors of GSV.
  • Death Benefit under the plan will be higher of: 
    i) Sum Assured,
    ii) Guaranteed Sum Assured on Maturity and 
    iii) 105% of {the total premiums paid till the date of death}
    Sum Assured is defined as Annual Premium times Sum Assured Multiple.
  • In case of death of the Life Assured due to an accident, an additional benefit equal to the Sum Assured will be paid as an Accidental Death Benefit.