Canara HSBC Oriental Bank of Commerce utilizes its vast network to provide a range of life insurance solutions to meet your personal requirements. The company is a joint venture between Canara Bank and Oriental Bank of Commerce (both Indian public sector banks) and HSBC Insurance (Asia-Pacific) Holdings Limited, a foreign insurance company.
Benefits of Canara HSBC Oriental Bank of Commerce Life Insurance:
Canara HSBC Oriental Bank of Commerce Life Insurance offers a wide range of plans that meet different requirements at different stages of life that will be suitable to any kind of budget. The policies can be opened and renewed online with minimal documentation. Customer service is also responsive and quick.
Types of Life Insurance Policies Offered by Canara HSBC Oriental Bank of Commerce Life Insurance:
Canara HSBC Oriental Bank of Commerce Life Insurance offers customers a wide range of life insurance policies which fall into the following categories:
- Online plans
- Term insurance plans
- Savings plans
- Unit linked insurance plans
- Group insurance plans
- Child insurance plans
- Retirement Plans
Canara HSBC OBC Online Plans:
The Canara HSBC Oriental Bank of Commerce Life Insurance Online Plans provide policyholders an easy, quick, and hassle-free way to start, renew, and claim their life insurance policies. The different policies that have the online option are as given below:
Policy Name | Policy Benefits |
iSelect + Term Plan |
|
Invest 4G |
|
Health Plus Plan |
|
Canara HSBC OBC Term Insurance Plans:
The term insurance plans offered by Canara HSBC Oriental Bank of Commerce Life Insurance plans are as given below:
Policy Name | Policy Benefits |
iSelect + Term Plan |
|
POS Easy Bima Plan |
|
Canara HSBC OBC Savings Plans:
Canara HSBC OBC has two savings plans which are as follows:
Policy Name | Policy Benefits |
Invest 4G Plan |
|
Guaranteed Savings Plan |
|
Canara HSBC OBC Unit Linked Insurance Plans:
The attractive Unit Linked Insurance Plans offered by Canara HSBC OBC are as follows:
Policy Name | Policy Benefits |
Invest 4G Plan |
|
Titanium Plus Plan |
|
Canara HSBC Group Plans:
The comprehensive group insurance plans offered by Canara HSBC Oriental Bank of Commerce benefit both the employee and the employer. The following are the group plans available:
Policy Name | Policy Benefits |
Group Advantage Term Plan |
|
Group Traditional Plan |
|
Child Insurance Plans
Canara HSBC OBC offers value-added child protection plans which are as given below:
Policy Name | Policy Benefits |
Invest 4G Plan |
|
Smart Junior Plan |
|
Retirement Plans
The retirement plans offered by Canara HSBC OBC are as given below:
Policy Name | Policy Benefits |
Invest 4G Plan |
|
Pension 4Life |
|
FAQs
- Is there tax benefit for all life insurance policies?
- Is the money received as death benefit or maturity benefit from life insurance policies exempt from tax?
- Why should I avail the riders offered on term insurance policies?
- What is the best age to buy a life insurance policy?
- Can I choose a renewal date for my policy according to my convenience?
Yes, you can avail tax deductions for the premiums paid on life insurance policies for up to Rs.1.5 lakh under Section 80C of the Income Tax Act 1961.
Yes, the money that is received as a death benefit (paid to nominees should the policyholder pass away before the policy matures) or maturity benefit (where the policyholder survives past the policy term) is exempt from tax under Section 10(10D) of the Income Tax Act, 1961.
The riders that are offered for term insurance policies provide more coverage than what the policy provides in its basic form. It also gives you the freedom to customise the policy according to your specific requirements for a nominal sum. You also get additional features and benefits with the rider along with the core benefits of the term insurance policy itself.
Most life insurance policies have an entry age of 18; it is best to buy a policy at younger ages as the premium will increase as you grow older.
Yes, you can choose a renewal date for your policy according to your convenience. Canara HSBC OBC Life Insurance offers the flexibility of choosing the 5th, 10th, 15th, 20th, or 25th days of the month for your premium renewal date (not applicable for monthly modes of payment).