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?

You can pay your premiums both online and offline mode. Online payment mode comprises payment via debit card, credit card or net banking.

2. How to check the policy status of the Canara HSBC OBC term insurance plan?

The applicants can check their policy status by login into the online portal. They can even get in touch with the customer care service.

3. Can I cancel my Canara HSBC OBC term insurance plan?

Yes, you can cancel your term insurance plan by visiting the nearest branch along with your policy documents.