Canara HSBC OBC Term Insurance Plan

Canara Hongkong Shanghai Banking Corporation Limited (HSBC) Oriental Bank of Commerce (OBC) term insurance plan that provides insurance coverage to your family in case of the policyholder’s early death. Their insurance plans only offer life coverage for a set amount of time, up to a specific age. If the policyholder survives till the complete tenure of term, the standard policy will expire.

Canara HSBC OBC term insurance plans help to protect from the financial risks of dependents in case of the policyholder’s sudden death. According to the plan, the beneficiaries will receive a large sum of money in the event of the early demise of the insured.

Best Canara HSBC OBC Term Insurance Plans

Canara HSBC OBC Life provides the following term insurance plans that help in providing financial security to your family in case of your unfortunate death:

  • Saral Jeevan BimaSaral Jeevan Bima is a simple and economical Term Insurance Plan that pays a lump sum payout in case of the unfortunate demise of the policyholder. The Premium Payment Term, Policy Term, Basic Sum Assured, and Premium Payment Frequency may all be customized to meet your insurance needs. Saral Jeevan Bima of Canara HSBC OBC Life Insurance acts as a shield that protects you against uncertainties in future.
  • iSelect Star Term PlanUnder the iSelect Star Term Plan, if the insured dies, or is diagnosed with chronic illness, the complete sum assured will be paid to the nominee. The life insured, as well as the spouse of the life insured, will be covered under this plan by following the specific terms and conditions.
  • POS – Easy Bima PlanPOS – Easy Bima Plan acts as a pure term life insurance plan with a premium return after the term. The plan has been designed with the aim of offering cost-effective and hassle-free protection for the policyholder’s family. The plan also offers double life cover in case of the sudden demise of the policyholder.

Benefits of Canara HSBC OBC Term Insurance Plans

The following points will help you to understand the benefits of purchasing Canara HSBC OBC term insurance plans:

  • Rewards: The plans offer rewards along with discounts for leading a healthy lifestyle.
  • Low-cost financial protection: HSBC OBC term insurance plans offer financial coverage to the family of the life insured at a low cost.
  • Premiums: The company offers flexibility in paying premiums. The policyholders can either pay the premium annually or monthly as per their convenience.
  • Payout options: If you are concerned that your family won't be able to maintain the amount received owing to a lack of financial preparedness, the policy has a variety of payment choices.
  • Riders: You can add riders for enhancing the term life plan. Riders will provide certain benefits such as accidental coverage, child support benefit, death benefit and waiver of premium
  • Documents required for buying Canara HSBC OBC Term Insurance Plan

    Keep the following documents handy while purchasing Canara HSBC OBC Term Insurance Plan:

    • Identity Proof: PAN Card, Aadhar Card, Bank Passbook
    • Address Proof: Aadhar Card, Electricity Bill, Bank Passbook, Voter ID card
    • Recent medical reports
    • Income details: Salary slip or bank statements that support your income details

    How to purchase Max Life Smart Secure Plus Plan?

    The following step by step guide will show you how to buy the Canara HSBC OBC Term Insurance Plan:

    1. Step 1 : Visit https://www.canarahsbclife.com/term-insurance.html
    2. Step 2 :Choose your preferred term insurance plan from the drop-down menu.
    3. Step 3 :Click on “Check Premium”.
    4. Step 4 :Enter your details such as your name, educational qualification, annual income, date of birth, email, mobile number, sum assured and policy term.
    5. Step 5:Click on “Submit and Continue”.
    6. Step 6 :Enter your additional details such as your occupation, address, and education.
    7. Step 7 :Customize your premium tenure.
    8. Step 8 :Fill in the proposal form or complete the premium payment.
    9. Step 9 :Once your application is approved, you need to go for a medical check-up.
    10. Step 10:Once the medical check-up is done, the insurer will provide you with the policy document.

FAQs

  1. What are the payment modes of the Canara HSBC OBC term insurance plan?
  2. You can pay your premiums both online and offline mode. Online payment mode comprises payment via debit card, credit card or net banking.

  3. How to check the policy status of the Canara HSBC OBC term insurance plan?
  4. The applicants can check their policy status by login into the online portal. They can even get in touch with the customer care service.

  5. Can I cancel my Canara HSBC OBC term insurance plan?
  6. Yes, you can cancel your term insurance plan by visiting the nearest branch along with your policy documents.

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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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