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Canara HSBC OBC iSelect Star Term Insurance Benefits

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Highlights
Claim Settlement Ratio97.10%
Death Benefit Paid For1,252 Policies
Inception2008
Presence9,500 Branches
Total Death Benefit Paid106.53 Crore

The benefits of iSelect Star Term Plan are as follows:

  • Death/Terminal Illness - In case of the unfortunate death of the policyholder, the death benefit paid is equal to the sum assured.
  • Accidental Death - If the policyholder dies due to an accident, the iSelect Star Term plan provides an additional amount to the nominee, beneficiary or dependent in addition to the sum assured.
  • Accidental Total and Permanent Disability - If the policyholder suffers accidental total and permanent disability, they are paid the entire sum assured.
  • Flexible Payout Options - The policyholder can choose any payout options from Lump Sum, Lump Sum plus Monthly Income, Monthly Income for a Fixed Term or Monthly Income till the end of Policy Term as per their choice.
  • Tax Benefits - Tax benefits on premium paid under Section 80C of the Income Tax Act, 1961.
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Key Inclusions and Exclusions of the Plan

What's Included

  • Death/Terminal Illness benefit
  • Spouse cover
  • Accidental Death Benefit (additional inbuilt cover)
  • Child Support Benefit (additional inbuilt cover)
  • Accidental Total and Permanent Disability Benefit (additional inbuilt cover)

What's Not Included

  • Self-inflicted injury, suicide or attempted suicide
  • Accidental death under or due to influence of drugs, alcohol
  • Death due to war, invasion, terrorist activities
  • Physical handicap or mental infirmity
  • Death due to suicide within 12 months

FAQs on iSelect Star Term Plan Health Insurance Plan

  • Why should I buy the iSelect Star Term plan?

    With iSelect Star Term plan by your side, you will be able to ensure financial security for your loved ones in case of your demise. 

  • Can I get my spouse covered under the iSelect Star Term plan?

    Yes! You can easily get your spouse covered under the iSelect Star Term plan by availing the Spouse Cover option at discounted rates.

  • Can I get the iSelect Star Term plan for a limited time period?

    Yes! You can get yourself covered under the iSelect Star Term plan for a limited period or for lifetime as per your requirements. 

  • Does the iSelect Star Term plan offer any discount?

    The iSelect Star Term plan comes at discounted rates for existing customers. 

  • Does the iSelect Star Term plan come with tax benefits?

    Yes! The iSelect Star Term plan provides tax benefits as per the Income Tax Act, 1961. 

  • Can I choose the renewal premium date for my iSelect Star Term Plan?

    Yes! Canara HSBC OBC iSelect Star Term Plan comes with the flexibility of choosing the renewal premium date.

  • Does iSelect Star Term Plan come with return of premium benefit?

    Yes! Under iSelect Star Term Plan one can avail the option of return of premium benefit and get all their premiums returned on outliving the policy tenure.

  • Is there any rebate available for females under the iSelect Star Term Plan?

    Yes! In case of a female life assured or the spouse of the life assured being a female, a 3 years age set back is used on death or terminal illness rates.

  • Will I get a discount on choosing a higher sum assured under iSelect Star Term Plan?

    Yes! If you or your working spouse chooses a higher sum assured, you will get more discount on the premiums to be paid. 

  • Can I convert my iSelect Star Term Plan renewal premium into EMI?

    Yes! You can easily pay your premium for iSelect Star Term Plan through credit card and convert it into EMIs.

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