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  • Canara HSBC Oriental Bank Of Commerce Life Insurance Plans

     3.5 / 5.0   by 16 users
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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Canara HSBC Oriental Bank of Commerce Life Insurance Company is a life insurance joint venture between two Indian public sector banks—Canara and Oriental Bank of Commerce and a foreign insurance company HSBC Insurance (Asia-Pacific) Holdings Limited.Canara Bank is 100 year old PSU established in 1906, which holds 51% share in the JV. It has over 50 million customers and a distribution network of 4678 branches. It is one of the largest nationalized banks in India in business volume. HSBC Insurance (Asia-Pacific) Holdings Limited is a subsidiary of HSBC an international bank established in1865, over 100 million customer base and has 8000 offices in 88 countries and territories.Oriental Bank of Commerce is a PSU established in 1943, holds 23% share in the JV and has 1.77 million customers and has a network of 2132 branches in India.


    Key Highlights of Canara HSBC Oriental Bank of Commerce Life Insurance

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    Claim-settlement ratio for Canara HSBC Oriental Bank of Commerce Life Insurance

    Claim Settlement Ratio

    Claim-settlement ratio of 92.99% for year 2015-2016

    Occupation eligibility for Canara HSBC Oriental Bank of Commerce Life Insurance

    Grievances Resolved

    99.60% Grievances Settled for year 2015-2016


    To be eligible for Canara HSBC Oriental Bank of Commerce Life Insurance

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    Minimum age for Canara HSBC Oriental Bank of Commerce Life Insurance

    You should be at least 18 years old

    Maximum age for Canara HSBC Oriental Bank of Commerce Life Insurance

    You should be less than 70 years old

    Occupation eligibility for Canara HSBC Oriental Bank of Commerce Life Insurance

    You should be either Salaried, Self- employed, a professional or have your own business


    Canara HSBC Oriental Bank of Commerce Life Insurance at a Glance

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    Maximum tenure of Canara HSBC Oriental Bank of Commerce Life Insurance

    A maximum tenure of 40 years

    Maximum sum assured for Canara HSBC Oriental Bank of Commerce Life Insurance

    Min Sum Assured: Rs 25 Lakhs
    Max Sum Assured: Rs 10 Crore

    Exclusions for Canara HSBC Oriental Bank of Commerce Life Insurance

    Specific exclusions: Suicide within the first 12 months


    Documentation needed to apply for an Canara HSBC Oriental Bank of Commerce Life Insurance

    • 1. Identity Proof
    • 2. Age Proof
    • 3. Income Proof
    • 4. Address Proof
    • 5. PAN Number

    Canara HSBC Oriental Bank of Commerce Life Insurance Plans in India

    Canara HSBC Oriental Bank of Commerce Life Insurance offers the following plans:

    1. Canara HSBC Oriental Bank of Commerce Term plans

      eSmart Term Plan : eSmart Term Plan is a pure term insurance plan by Canara HSBC Life Insurance that is available online and offers coverage for 5 to 40 years. No maturity benefits are payable. The company assigns a case manager to nominees to facilitate claims.

    2. Canara HSBC Oriental Bank of Commerce Child plans
      • Future Smart Plan : This is a unit linked child plan that provides long-term investment opportunity to build a corpus fund for your child’s future. It offers comprehensive insurance cover (Sum Assured on death and Premium Funding on death or disability) so that the child has a secure future even in case of uncertainties.
      • Dream Smart plan : This is a unit linked insurance plan (ULIP) helps save for your child. Premiums can be paid for a limited duration while you get life cover for 20 years. Partial withdrawals are allowed after five years.
    3. Canara HSBC Oriental Bank of Commerce Wealth Creation Plans
      • Shubh Labh : Shubh Labh is a unit linked single premium plan. It gives you a choice of 5 investment funds with the ability to switch freely between them and automatic fund rebalancing.
      • Insure Smart: Insure Smart is a unit linked insurance plan, it helps you save for your specific dreams with the flexibility of paying premiums for 5 years and getting life cover for 10 years. Fund switches and partial withdrawals after sixth year are other highlights of this plan.
      • Dream Smart : This is a unit linked insurance plan (ULIP) that has the flexibility to pay premiums for a limited duration while you get life cover for 20 years. You invest in unit linked funds for better growth.
      • Grow Smart : Grow Smart is a whole life unit linked insurance plan with insurance cover throughout life. Annual premiums have to be paid for a limited duration and you get lifelong insurance cover.
      • Canara HSBC Oriental Bank of Commerce Life Insurance Smart One Pay Plan :This is a single premium plan that offers five fund options with unlimited free switches. There can be partial withdrawals but only after the sixth policy year onwards.
    4. Canara HSBC Oriental Bank of Commerce Group Plans
      • Corporate Group Term plan : Corporate Group Term plan is an annually renewable group term assurance plan. This plan helps you to provide life cover to your employees at a low cost.
      • Group Secure: Group Secure is a group plan available to groups like loan applicants of financial institutions/ bank/ co-operative banks/ credit societies/other lending institutions providing various types of loans like housing loans, vehicle loans and the like.
      • HSBC Oriental Bank of Commerce Life Insurance Sampoorna Kavach : This is a traditional, non- participating life protection yearly renewable group term plan for life protection needs of the members of the insured group.
      • Group Superannuation : Group Superannuation plan is a non-linked, non-participating fund based variable insurance group product for employer-employee groups and provides superannuation benefits.
      • Group Traditional Benefit Plan : Group Traditional Benefit Plan is a non-linked, non-participating fund based variable insurance group product offered to employers to provide employee benefits like funding your gratuity, leave encashment. This plan also provides post-retirement medical benefits.

    Canara HSBC Oriental Bank of Commerce Life Insurance FAQs:

    1. Q. How well is Canara HSBC Oriental Bank of Commerce Life Insurance doing when it comes to claim settlements?

      A. According to our sources the Claim-settlement for Canara HSBC Oriental Bank of Commerce Life Insurance is at a ratio of 89.6% from April 2014 - March 2015.

    2. Q. What is the age eligibility criteria for applying for a life insurance with Canara HSBC Oriental Bank of Commerce Life Insurance?

      A. An individual can apply for this life insurance as long as they are 18 years of age or more but less than 70 years of age.

    3. Q. What is the claim process for the insurance with Canara HSBC Oriental Bank of Commerce Life Insurance?

      A. A few simple steps are taken for the claim but first:

      • Your nominee or you have to initiate the claim and registration for the claim, which can also be done online. You also need to submit the required documents as mentioned by the financial institution.
      • The fund value disbursement is conducted along with the verification of the documents.
      • The final stage is the processing and the final settlement of the claim which takes around 15 to 30 days.
    4. Q. What are the documents that are necessary to settle a claim?

      A. The most basic proofs are required which are as follows:

      • Identity proof
      • Address Proof
      • Employment or income proof
      • PAN Number
      • Age Proof
    5. Q. How Do I get the basic idea about the premium that has to be paid for the life insurance?

      A. You could use our insurance premium calculator or use the company’s own tool.

    6. Q. How Do I contact the Canara HSBC Oriental Bank of Commerce Life Insurance
    7. for more details on the policy?

      A. You can have them call you back by filling up the “Have us call you” form available on every page of the website online, as a tab.

    8. Q. How To Find out what my ideal fund value should be?

      A. You can visit their website, which contains a tool from the company, allowing you to atleast get an estimation of what your fund value should be.

    9. Q. What is the grace period for paying the premiums?

      A.You get 30 days from the due date to pay your premiums, during which your plan’s life insurance cover will continue, post the date, you will no longer receive cover until premium amounts paid.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Canara HSBC Oriental Bank of Commerce Life Insurance Reviews

  • Page 1 of 1
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I do have life insurance policy with Canara HSBC OBC life insurance company and the premium value is around 8000 Rupees per annum and the coverage value is around one crore. I can believe this policy because of their ethics in the business. Customer service is very good and also response is an immediate one.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 27, 2017
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Good policy with descent return"
      0.5 4.5/5 "Excellent!"
      I got the life insurance policy with the Canara HSBC oriental bank of commerce and their services are good and they are notifying the details regarding the payment and other information are notified to the customer. I had been with them from 2011 onwards and return wise they are really good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 04, 2017
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "TARUN MITTAL"
      0.5 0.5/5 "Unacceptable"
      DON'T GET A' CANARA HSBC OBC" LIFE INSHURANCE . COUSTMER SERVICE VERY BAD AND POOOR . DONT GIVE U ANY INFORMATION ABOUT UR POLICY . VERY BAD COMPANY . WHEN I CALL THE CLAIM DEPARTMENT THEN HE SAID UR POLICY IS TERMINATE . I M SHOCKED . THEY DID NOT GIVE ME REASON WHY MY POLICY IS TERMINATE . SOO PLZZ BE CARE FULL PRIVATE COMPANIES.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Sep 30, 2016
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Total life Security"
      0.5 4.5/5 "Excellent!"
      Hi, Recently i have opted for Canara HSBC Oriental Bank e- smart term plan which I feel is the best life security plan as per my survey. Since you have to pay less premium like in my case only 5,7011 per year for sum assured of 50 lacs, gives total security to the family. So you don't need to worry about further insurance for your life, only need to concentrate on investments and savings for your future.
      Was this review helpful? 0
      , udupi
      Reviewed on May 28, 2016
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Good benefits"
      0.5 4.5/5 "Excellent!"
      Canara HSBC Oriental bank of commerce has been good in their services. I have taken my life insurance from them. They send me reminders for the payments. They also have a online facility to pay the premiums. The tenure is for 15 years. They have good benefits and a coverage as well.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 18, 2016
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Excellent...."
      0.5 5.0/5 "Blown Away!"
      Canara HSBC Oriental bank of commerce life insurance is wonderful. I have taken one life insurance policy and when I asked for a partial withdrawal they done it very fast. There were no cross questions raised that why you are dropping the plan and they gave it smoothly. Minimum five years is the lockin period to drop the life insurance policies.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 16, 2016
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "TERRIBLE CUSTOMER SERICE"
      0.5 0.5/5 "Unacceptable"
      I am writing to complain about the terrible customer service- This insurance company has apparently lost my check of Rs 500,000- they don't respond to emails, the phone lines don't work - how does one reach them? Terrible customer service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 11, 2016
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have the life insurance policy with the Canara HSBC oriental life insurance company. The services are very good with them and am paying the premium as around 80000 Rupees per year of time. This 80000 Rupees premium will inclusive of pension and the life insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 15, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I do have the canara bank hsbc oriental life insurance policy and I have taken the policy because of my parents advice. The services are not very great with them like when I was shifted from the bangalore they gave me some troubles like they are very difficult to get them and I need to visit their branch directly. They dint resolve the issues over the phone.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 27, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "No good benefits "
      0.5 1.0/5 "Really Bad"
      When I am taking my housing loan also taken a life insurance from CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE. It is an 20 years policy, since the benefits was not good I canceled this policy with them. I did not got any benefits also.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 30, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Easy and safe"
      0.5 4.0/5 "Great!"
      OBC Life insurance is good. Its very transparent we can update their personal details on line and that is the best part about them. Customer service offered by them was fine and every month I am supposed to pay rs 200 and this insurance was opened through my company. It helps us a lot we have to get hospitalized at least for a day they will provide 80% of the claim amount and the amount was reimbursed and the only drawback here is they will provide the amount to the insurance holder only,
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Provided great service..."
      0.5 4.0/5 "Great!"
      At that time of searching for a life insurance, Canara HSBC Oriental Bank of Commerce life insurance was meeting my requirement on benefits. Pretty neat coverage for life insurance and my plan is linked with share market so growth has been good. Though it is a unit link, there is a fixed return where I get 30%.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 24, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Good service and good plans for tax benefits...."
      0.5 4.0/5 "Great!"
      It is of traditional life insurance and secure smart plan where sum assured value increases every year. I just have to invest around 1lakh every year and based on market rate I get fixed amount. Sum assured that I am going to get from Canara HSBC Oriental Bank of Commerce life insurance after 15 years is non taxable.
      Was this review helpful? 1
      , thane
      Reviewed on Jun 04, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Insurance for Future "
      0.5 5.0/5 "Blown Away!"
      I have an Life insurance from canara bank. In which my family is also been covered. I have taken for 10years tenure and paying yearly 1.2 lakhs which will be automatically deducted form my account which makes my payment option very easy.The total amount i will be paying is 25 lakhs and on the 5th years i can take 5.2 lakhs as per the plan benefits.
      Was this review helpful? 3
      , chennai
      Reviewed on Apr 29, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      Yearly, for premium I am paying around 1.2lakhs and coverage value will be good at the end of 15 years. I have OD account in Canara bank so they insisted me to take life insurance with Canara HSBC Oriental Bank of Commerce life insurance thus I have taken. In gap of five years I do get return of 4lakhs and it will directly goes to my Canara bank account. Actually they asked me to take it for business security purpose against this OD account.
      Was this review helpful? 6
      , chennai
      Reviewed on Feb 12, 2015
    • Canara HSBC Oriental Bank of Commerce Life Insurance
      "Quite ok"
      0.5 2.0/5 "Expected more"
      The life insurance which I took from CHSBC LIFE is like a market plan. Its investment cum life insurance policy. I pay for 3 years where later on depending on the market rate, I get the returns. They must improvise on their customer service part which needs to be responsive.
      Was this review helpful? 3
      , kolkata
      Reviewed on Jan 07, 2015
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