Benefits
About Insurer
Canara HSBC Oriental Bank of Commerce Life Insurance is a leading life insurance company in India, established in 2008 as a joint venture between Canara Bank, HSBC, and Oriental Bank of Commerce. The company offers a range of life insurance products, including term insurance, endowment plans, ULIPs, retirement plans, and group insurance. With a strong distribution network, digital presence, and customer-centric approach, Canara HSBC OBC Life Insurance has consistently demonstrated strong financial performance and has received several awards and recognition for its services.
Fund Performance
AUM : Rs. 14,334 Cr.
Fund | Fund Size | 5 years Rolling Returns | 7 years Rolling Returns |
Midcap Growth Momentum Index Fund Fund NAV: 11.43 | 42 Cr | NA | NA |
Large Cap Advantage Fund Fund NAV: 20.28 | 766 Cr | NA | NA |
Emerging Leaders Equity Fund Fund NAV: 32.6 | 1,319 Cr | NA | NA |
India Multi Cap Equity Fund Fund NAV: 30.52 | 5,077 Cr | 12.4% | 13.2% |
Liquid Fund Fund NAV: 26.5 | 509 Cr | 4.6% | 5.4% |
Debt Fund Fund NAV: 36.61 | 478 Cr | 8% | 8% |
Balanced Plus Fund Fund NAV: 32.19 | 2,027 Cr | 8.8% | 8.9% |
Equity II Fund Fund NAV: 41.58 | 3,567 Cr | 10% | 10.2% |
Growth Plus Fund Fund NAV: 36.84 | 549 Cr | 10.1% | 10.3% |
Charges
Type | Percentage or Amount | |||||||||||||||
Fund Management Charges | 0.80% p.a. for Liquid Fund 1.00% p.a. for Debt Fund & Large Cap Advantage Fund 1.35% p.a. for Other funds (Equity related) *% of Fund Value, and % are as on Dec'24 | |||||||||||||||
Mortality Charges |
*Risk charges are per 1000/- Sum at Risk The Sum at Risk for Life Assured is Death Benefit less Fund Value | |||||||||||||||
Policy Admin Charges | Nil | |||||||||||||||
Premium Allocation charges | Nil | |||||||||||||||
Switching charges | Nil | |||||||||||||||
Partial Withdrawal charge | Nil | |||||||||||||||
Discontinuance Charge | ||||||||||||||||
Miscellaneous Charges | Nil |
Tax Savings
If you invest Rs. 50,000 per year for 5 years in the India Multi Cap fund which grows at a 13.2% (last 7 years CAGR) for 10 years. Returns would be Rs. 6,84,488
Under Section 80C (Old tax regime) : Investment amount is tax free
Your investment amount Rs.50,000 per year for 5 years will be tax exempt. So Tax savings : Rs. 15,000 per year (assuming 30% bracket). Total tax saving for 5 years would be Rs.75,000
Under Section 10D : Realised profits are tax free
Profits from your returns are tax free i.e. Rs. 6,84,488 - Rs. 2,50,000 = Rs. 4,34,488 would be tax free. If you had invested the same amount in ELSS or MF you would have to pay 12.5% LTCG tax on profits. i.e. Rs. 54,311 (assuming same charges)
So total tax savings under both above sections would be Rs. 75,000 + Rs. 54,311 = Rs. 1,29,311