Canara HSBC OBC Child Plans

Canara HSBC OBC Child Plans Canara HSBC (Hongkong Shanghai Banking Corporation) Oriental Bank of Commerce (OBC) Child insurance plans offer long-term investment opportunities for building the future of your child along with an insurance cover that acts as a protection in case of an eventuality. Once the policy gets matured, you will get a lump-sum amount that you may use to pay for your child's higher education, or marriage expenditures.

While they are developing the corpus to achieve these goals for their child, the insurance plan protects the corpus in case of their unexpected death. In case of your sudden demise, the plan will invest the total sum on your behalf and pay the complete maturity amount to your child.

Canara HSBC OBC Life Insurance also has periodic payment modes that act as important milestones to crucial life events for your kid, such as education, marriage, and so on.

Types of Child Insurance Plans of Canara HSBC OBC

The following are different types of child insurance plans of Canara HSBC OBC:

  • Smart Future PlanSmart Future Plan is a unit-linked plan that offers long-term investment opportunities to meet a variety of family objectives, such as asset development or ensuring a bright future for their child. It is a complete insurance coverage that provides benefits to your family even after policyholder’s death.
  • Invest 4G PlanCanara HSBC OBC Invest 4G Plans is a unit-linked individual life insurance savings plan which can be customized according to the goals and needs of policyholders. This plan provides life insurance coverage to safeguard the family in case of the untimely death of the insured, and the best value for their hard-earned money.
  • Jeevan Nivesh Jeevan Nivesh is a savings plus protection plan provided by Canara HSBC OBC Life Insurance. The plan aims to offer savings and life insurance cover in just a single plan. Jeevan Nivesh helps in fulfilling all the important goals of life such as a child’s education, marriage, or purchasing a house. The best part of this plan is that it has a limited pay option where you need to pay your premiums for a specified time and then you will enjoy the benefits for the entire tenure.
  • Future Smart Plan The Future Smart Plan by Canara HSBC OBC is a unit-linked child insurance plan which offers a long-term investment facility with an aim to build the future of your child. If the policyholder lives till the policy's maturity date, he or she will get a Maturity Benefit, which is Fund Value.
  • Smart Junior Plan Smart Junior Plan is a non-linked participation savings-cum-protection endowment life insurance plan that ensures that your child's future educational requirements are met whether or not you are there. The plan offers guaranteed pay-outs during the previous five years of policy that can support the educational milestones of your child.
  • Money-Back Advantage Plan This is a non-linked, traditional savings cum protection based, participating, and limited premium payment endowment plan. This product includes guaranteed money back distributions during the policy period, as well as a guaranteed lump sum at maturity and bonus(es) that the client can use to meet different milestones.

Features of Child Insurance Plans by Canara HSBC OBC

The following are the features of Canara HSBC OBC Child Insurance Plans:

  • Life Cover A child insurance plan comprises a life cover of the policyholder which will protect the future of the child in case of death of the policyholder during the policy term.
  • Systematic Withdrawals A child education plan or an endowment plan offers the option of systematic withdrawal or automated payments in the final few years.
  • Goal Protect from Disability or Death The policyholder will get maximum benefits if he or she participates in the long-term child plans. The unit-linked insurance plans will provide loyalties as bonuses that will be paid along with the maturity value.
  • Choice of Funds Canara HSBC OBC gives the policyholders the choice of selecting from a variety of funds. The funds invest in securities such as stocks, bonds, and money market instruments.
  • Riders The child insurance plans include different riders such as accidental death cover, illness cover, as well as the premium waiver option.
  • Lump-Sum Benefit After the death of the policyholder, the lump sum amount will be paid as a death benefit.
  • Premium Waiver Benefit The beneficiary receives the sum assured if the insured dies within the specified period, and the insurance company continues to pay the remaining premiums until the maturity date.

Documents Needed to Purchase a Child Insurance Plan from Canara HSBC OBC

The following are the documents needed to purchase a child insurance plan:

  • Policy Form
  • Address Proof: Aadhar Card, bank passbook, electricity bill or driving license
  • Proof of Identity: Aadhar card, Permanent Account Number (PAN) card, Voter ID card, or driving license
  • Proof of Income: Bank passbook, or salary slip
  • Proof of age: Birth certificate, or 10 and 12th market sheets

FAQs

  1. What is excluded from a Canara HSBC OBC Child Insurance Plan?
  2. There are certain things that are not included in the Canara HSBC OBC Child insurance plan namely: suicide, death due to war, hazardous activities, or drug overdose, and involvement in criminal activities.

  3. What are the eligibility criteria to purchase a Canara HSBC OBC Child Insurance Plan?
  4. The entry age limit to buy a child insurance plan ranges between 18 years and 65 years, whereas the maturity age ranges between 18 years and 80 years.

  5. What are the rider benefits provided by Canara HSBC OBC Child Insurance Plan?
  6. Canara HSBC OBC Child Insurance Plan offers three rider benefits such as critical illness cover, accidental disability and death cover, and premium waiver benefit.

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Customer Reviews

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  • Canara HSBC Oriental Bank of Commerce
    "Excellent"
    0.5 3.0/5 "Satisfactory"
    I have chosen a term plan by myself when I received a link which straight away taken to Canara HSBC just filled my details and processed without going through terms and conditions. The premium is 710rupees per month, almost 40 years which am not liking the policy now, am thinking why have chosen this policy for this long duration and am looking forward to cancel. The payment mode is very easy and there was no much hassle.
    Was this review helpful? 2
    , new delhi
    Reviewed on Aug 22, 2019
  • Canara HSBC Oriental Bank of Commerce
    Canara HSBC Oriental Bank of Commerce
    "Complete risk protection cover"
    0.5 5.0/5 "Blown Away!"
    I secured my life with sum assured of Rs 75 lakhs in Canara HSBC insurer . It is completely death benefit policy which is protect my life till the age of 75 years . Any uncertain events like natural disaster or health issues will be covered in this policy . Insurance premium is very affordable.
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 16, 2019
  • Canara HSBC Oriental Bank of Commerce
    "Excellent"
    0.5 4.0/5 "Great!"
    Canara HSBC OBC life insruance policy is wonderful one for me and am using it from the last four years of time. I would like to say that the late payment charges are not applicable though the payment can be done after an years of time.
    Was this review helpful? 0
    , hubli
    Reviewed on Jun 28, 2018
  • Canara HSBC Oriental Bank of Commerce
    "Okay"
    0.5 4.0/5 "Great!"
    I am having the life insurance policy with the Canara HSBC life insurance company. Customer service is good one with them and there are no issues on it. I am not aware of the coverage value in it. Everything is better one with the Canara HSBC life insurance company.
    Was this review helpful? 0
    , jaipur
    Reviewed on Feb 27, 2018
  • Canara HSBC Oriental Bank of Commerce
    "Better policy to use"
    0.5 5.0/5 "Blown Away!"
    Around 3 years ago, I got the Life insurance policy with CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE. I pay the premium of Rs, One lakh every year. The plan benefits and the coverage is good with CANARA HSBC policy . This policy has the term of10years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 20, 2017
  • Canara HSBC Oriental Bank of Commerce
    "Good policy"
    0.5 3.0/5 "Satisfactory"
    I have taken life insurance with Oriental bank of commerce.I have been using the service for past three years.I pay a premium of an amount of Rs23,000 annually,payment is done through cheque.They give proper response to the customers.I have not yet used claim experience as of now.
    Was this review helpful? 1
    , bangalore
    Reviewed on Nov 17, 2017
  • Canara HSBC Oriental Bank of Commerce
    "Good policy to use"
    0.5 4.0/5 "Great!"
    I have got the life insurance with CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE for more than a year. The customer service is good with CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE. This policy has the tenure of 20years. I got this policy which is provided by company. I am not sure about the premium amount.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Oct 12, 2017
  • Canara HSBC Oriental Bank of Commerce
    "excellent service"
    0.5 5.0/5 "Blown Away!"
    I got the life insurance service through my CANARA savings account I have to pay 14000 every year for me and my wife and I have to pay till 60 years the documentation part was fine even the representatives and customer service is very helpful and responsible ,I would like to tell it was an excellent service from CANARA for my savings account.
    Was this review helpful? 0
    , chennai
    Reviewed on Oct 11, 2017
  • Canara HSBC Oriental Bank of Commerce
    "excellent service"
    0.5 5.0/5 "Blown Away!"
    I have got the insurance offer, while I applied my loan representatives where very responsible even, I have not had any conversation much its was very good service from HSBC ,so overall service is excellent from HSBC. I am happy with the service .
    Was this review helpful? 0
    , bangalore
    Reviewed on Sep 30, 2017
  • Canara HSBC Oriental Bank of Commerce
    "Excellent policy"
    0.5 5.0/5 "Blown Away!"
    I am having a life insurance policy with CANARA HSBC ORIENTAL BANK OF COMMERCE for past one year. I pay the premium of Rs,1000 in every year. The plan benefits and the Coverage's are very good with this policy. I am happy holding this policy with OBC.
    Was this review helpful? 0
    , guwahati
    Reviewed on Aug 21, 2017
  • Canara HSBC Oriental Bank of Commerce
    "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
    "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
    "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? 1
    , ludhiana
    Reviewed on Sep 30, 2016
  • Canara HSBC Oriental Bank of Commerce
    "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? 1
    , udupi
    Reviewed on May 28, 2016
  • Canara HSBC Oriental Bank of Commerce
    "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
    "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
    "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? 1
    , mumbai
    Reviewed on Jan 11, 2016
  • Canara HSBC Oriental Bank of Commerce
    "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
    "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? 1
    , gurgaon
    Reviewed on Nov 27, 2015
  • Canara HSBC Oriental Bank of Commerce
    "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? 1
    , bangalore
    Reviewed on Oct 30, 2015
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