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Canara HSBC OBC iSelect Star Term Insurance

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Canara HSBC Term Insurance
iSelect Star Term Plan
Claim Settlement Ratio97.10%
Death Benefit Paid For1,252 Policies
Inception2008
Presence9,500 Branches
Total Death Benefit Paid106.53 Crore

About Canara HSBC OBC iSelect Star Term Insurance

Canara HSBC OBC iSelect Star Term Plan is an ideal plan that helps you overcome the uncertainties of life. An individual non-linked non-par pure risk premium life insurance plan, iSelect Star Term is an online protection plan that can be easily availed at affordable premium rates. This is a flexible term plan that one can make the most of according to their specific lifestyle needs by offering various options for coverage, premium payment as well as benefit payouts. iSelect Star Term plan comes with whole life coverage, however, it also allows the policyholder to choose coverage for a limited period. One of the key aspects to note is that the plan comes with three coverage options, namely Life, Life with Return of Premium, and Life Plus

iSelect Star Term plan is a popular term insurance plan that provides cover for life Insurance and terminal illness cover. Moreover, it also secures against accidental death/disability. A policyholder can also opt for a regular income for their family in case of their unfortunate demise.The minimum entry age for the plan is 18 years, while the maximum age is 65 years. Featuring multiple premium payment options, iSelect Star Term plan allows coverage up to 80 years of age. The sum assured amount (inclusive of terminal illness cover) is Rs. 25 Lakh and above. The plan also features Spouse Cover under which one can get their spouses covered and secure their financial future. the policyholder to extend their insurance cover through Accidental Death Benefit, Child Support Benefit, Accidental Total and Permanent Disability Benefit riders by paying an additional premium amount.

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

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Claim Process at Canara HSBC Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 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. 

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