Canara HSBC Oriental Bank of Commerce Life Insurance is one of the best Life insurance companies in India. Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture within Canara Bank (51%) and Punjab National Bank (23%). It was established in 2008—Canara HSBC Oriental Bank of Commerce Life Insurance headquarters in Gurugram. The company provides various products across individual and group spaces consisting of life, health, online term plans, retirement solutions, credit life, and employee benefit segments.
Brief Summary
| Insurance company Name | Canara HSBC Oriental Bank of Commerce Life Insurance |
| Location | Gurgaon, Haryana |
| Founded | 2008 |
| Type | Joint Venture |
| Area | Worldwide |
| Official website | https://www.canarahsbclife.com/ |
Benefits
- Tax benefits under sections 80C and 10(10D) relevant
- You can become the policy with optional riders
- Minimum quantity assured of Rs. 25 lakhs to Rs. 10 crores
- Offers an index of life insurance products, including ULIP plans, protection systems, group plans and traditional plans.
Canara HSBC Oriental OBC Life Insurance Plans Types
ULIP Plans
There are allows you over 13 types of Units Linked Insurance Plans that provide you with risk coverage and different investment options. Various kinds of ULIP plans provided by Canara HSBC Oriental Bank of Commerce are listed below:
Platinum Plus Plan: The unit-linked insurance plan can be customized as per your aims and demands. The program gives you flexibility in payment terms- limited or regular, while also presenting you with safety coverage. The plan also provides you with multiple investment management choices to reap maximum returns from the policy. You also get the flexibility of switching and redirecting between fund opportunities to take advantage of market movements or changes in risk preference.
Dream Smart Plan: If you want to save money to fulfil your specific needs, this is the plan for you. The Dream Smart Plan demands care of your future dreams by helping you invest your money in unit-linked projects of your choice. The program allows you flexibility in premium payment while also offering your life cover for over 20 years. After a term of 5 years, the plan enables you to withdraw money through partial abandonment in case of emergency.
Growth Smart Plan: Canara HSBC OBC life insurance plan affordable whole life unit-linked plan which includes you throughout your life. This plan asks you to pay premiums for a limited period and enjoy lifetime insurance coverage. You can accept the premium paying term (10 years or more) as per your earning ability. The plan also allows you to switch your money from one fund to another and also allows you to redirect your premiums.
Future Smart Plan: Supporting you to build a secure future for your child, the Future Smart Plan is a unit-linked plan that gives a long-term investment opportunity and a whole life cover. Sum confirmed it is paid on death and death or disability of the policyholder. Some company funds all the future premiums. At the end of the plan, maturity benefit, known as fund value, is paid up to fill your child’s dreams.
Ensure Smart Plan: Guaranteeing you have enough finance to enjoy your life through various stages, Ensure Smart Plan gives you the flexibility to pay premiums for five years and provide you with a life cover for ten years. The program gives you the freedom to invest in over five funds depending on your investment needs. At ability, a loyalty addition of 1% of your fund value is provided.
Smart One Pay: Smart One Pay is a single premium unit-linked non-participating benefit insurance policy. The program helps in wealth production by giving you different investment choices and providing live coverage and tax benefits. The plan allows you with an auto fund rebalancing choice (at no additional cost) to manage the allocation of your investments in a specific dimension across funds, irrespective of market movement.
Bright lifelong Plan: This plan enables you to save money and provides life coverage up until 99 years. This plan is designed to help you fulfil your responsibilities by choosing from over five fund options. You have the flexibility of selecting a dividend-paying mode and also the premium payment term.
iNVESTSHIELD Plan: The iNVESTSHIELD Policy is a value for money purchase plan and a protection plan that defends you with its benefit opportunities. Choice of Investment Funds ranges from 0% to 100% equity exposure. Support Extensions are supplied as additional allocation of units to boost your expenses.
Traditional Plans for Canara HSBC OBC Life Insurance
Below have mentioned the traditional policy by Canara HSBC help you keep your money and future secure with an array of over different plans.
Intelligent Immediate Income Plan: The plan that lets you enjoy consistent income flow post your retirement. Among this plan, you can enjoy your retirement with annuity instalments provided completely in your lifetime. This plan is specifically designed to take care of your guaranteed lifetime pay-outs below the Reverse Mortgage Loan enabled Annuity scheme. You have an opportunity to receive regular payments as long as your partner is alive.
Intelligent Stage Money Back Plan: This is a traditional savings determined life insurance money-back with a profit plan. The plan provides financial protection to your family by offering life cover and giving you milestone-based pay-outs through guaranteed money back and maturity benefits. The plans protect your family for 15 years through payout of the death benefit in case of your death and give 3 Guaranteed Money Back payouts of 15% of the Sum Assured each in the 4th-8th-12th plan year.
Smart Future Income Plan: Supporting you to plan your retirement well, The Smart Future Income Plan gives you a tax-free monthly income for 15 years. It makes you enjoy life cover for 25 years and helps you acquire lump sum money through annual and final rewards.
Smart Junior Plan: Supporting you to secure your child’s education demands even while you are not around. The junior Smart Plan is a non-link participation saving cum assurance endowment life insurance plan. The policy provides guaranteed payouts during the last five years of the policy, which can be utilised to comprehend your child’s educational discoveries.
Best of luck!!!