Canara HSBC Life Insurance

Canara HSBC Life Insurance

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Canara HSBC Life Insurance Company

Canara HSBC was founded in June 2008. It is basically a joint venture between Canara Bank (51%) and Oriental Bank of Commerce (23%) - and HSBC Insurance (Asia Pacific) Holdings Limited (26%), the Asian insurance arm of one of the world's largest banking and financial services groups - HSBC.

Life insurance is an important investment that a person should think about. Life insurance helps you in providing complete safety to your family even after your demise. Different forms of life insurance plans also allow you to earn great returns. Yes, apart from financial security, life insurance offers different methods through which you can make money as well and can take advantage of the same on a regular basis. The life insurance industry of India is growing rapidly and has shown remarkable benefits in the last few years. Talking about Canara HSBC OBC Life Insurance Company, you must know that this is an old insurance company with the existence of many years. It is a trusted life insurance company that caters to all life insurance plans. With a wide range of effective life insurance plans, this company is offering several helpful plans at an affordable price. This company provides complete safety to you and your loved ones.

The company also carries a good claim settlement ratio, which makes it a trustworthy life insurance company. The importance of life insurance is yet to be explored by some people who don’t think about it. There are several reasons which will help you in understanding the importance of adding life insurance to your investment portfolio.

What Canara HSBC Life Insurance Offers?

Safety And Security: : Insurance offers financial support to people and reduces uncertainties in human life and their business as well. No matter how much we grow fear of a sudden loss is always there and to come out of the same is really very difficult. Thus a life insurance offers complete financial assistance to the family of the insured person after his/her demise.

Financial Resources: Canara HSBC OBC Life insurance helps a lot in generating funds also. With it, you can choose an effective life insurance plan that is best for investment and can offer huge returns. Investing in such type of plans will assist a person in generating funds that will be helpful for the growth of the person.

Encourages savings: Traditional life insurance plans offer protection against the risks, uncertainties, however, you must know that it also offers beneficial investment options also. Life insurance allows you to do systematic savings with the help of regular premium payment. It will help in developing a habit of saving. You can get a lump sum amount at the time of maturity.

Economic Growth: There is no doubt in saying that insurance plays a key role in an economy’s growth by promoting domestic savings. It helps in covering accumulated capital in investments. It also assists in mitigating the loss.

Key Highlights

Claim Settlement Ratio: Claim-settlement ratio of 94.95% for year 2016-2017

Grievances Resolved: 100.00% Grievances Settled for year 2016-2017

Canara HSBC Life Insurance Plans

Online plans

Online plans are there for you to help you in getting the maximum advantage of available policies. You can buy the same from the comfort of your home. Just search for the best one and can get it within a few minutes.

iSelect Term Plan

An online term insurance plan that provides you enhanced protection options such as Life Cover, Terminal Illness Cover and covers against death/disability. It also gives you the option to ensure regular income for your family in case of unforeseen circumstances.

iNvest Shield Plan

An online Unit-Linked Insurance Plan offers affordable monthly premiums that not only secure the needs of your family but also fulfill your dreams. Secures future, creates wealth and provides double protection i.e. Life coverage + additional benefit in case of accidental death.

Traditional plans

Traditional insurance plans, which include term, endowment and whole life policies, offer multiple benefits in terms of risk cover, return and safety. Traditional policies are considered risk-free, as they provide fixed returns in case of death or maturity of the term.

Jeevan Nivesh Plan

A savings-cum-protection plan that gives you a whole life protection and allows legacy planning through wealth creation.

Money Back Advantage Plan

A plan that ensures benefit payouts at key milestones during the Policy Term along with a guaranteed lump-sum at maturity.

Smart Junior Plan

It is a non-linked participating savings-cum-protection endowment life insurance plan designed to fulfill your child`s future education needs, whether you are around or not.

POS - Easy Bima Plan

An affordable traditional insurance plan that returns your premium upon survival on the date of maturity.

Smart Suraksha Plan

A protection plan that gives you life insurance cover along with the option to cover against accidental death/disability.

Smart Future Income Plan

On death of the life assured, a death benefit equal to Death Benefit Sum Assured [Higher of Sum Assured or 10 times Annualised Premium] plus added annual bonus (and any interim bonus for the part of the year in which death occurs) and final bonus (if any) subject to at least 105% of the premiums paid by the policyholder (excluding extra premiums, if any) shall be payable.

Smart Monthly Income Plan

A life insurance plan to address your regular income needs. It will help you plan well as you move towards the golden years of life.

Samridh Bhavishya

A traditional plan designed to ensure guaranteed income in your retirement years. It provides you annuity installments throughout your lifetime, thereby ensuring that you enjoy your post-retirement years the way you want to.

Smart Immediate Income Plan

This traditional life Insurance plan ensures a post-retirement regular income stream for you, in the form of annuity installments throughout your life

ULIPs

Unit Linked Insurance plans help you ensure a secure future for your family and fulfill your life goals, without compromising on either.

Platinum Plus Plan

A unit linked investment cum protection plan, which can be customized as per your goals and changing requirements.

Smart Future Plan

With this Unit-Linked Life Insurance Plan, you can choose Policy Terms (10/15/20/25yrs) to suit your needs clubbed with Premium Paying Term from 10 to 20 years, tailor-made as per your earning capacity. It's Premium funding benefits ensures that the policy continues with all the future premiums funded by the company and your child receives the fund value even if you are not around.

Smart Goals Plan

This unit linked insurance plan has been designed to help you plan your financial requirements so that you have the means to fund your goals with no compromises.

Smart Life Long Plan

A Unit-Linked Life Insurance Plan that helps you create wealth along with providing whole life coverage - up to 99 years of age. The plan is designed to help you fulfill various life stage needs by making the right choice.

Secure Bhavishya Plan

A Unit-Linked Life Insurance Plan that provides the benefit of equity participation to potentially enhance your retirement corpus, and at the same time offers 'capital protection' for your retirement corpus.

QROPS

A unit linked insurance plan which knows no boundaries. A pension scheme administered outside of the United Kingdom, registered with the HMRC.

Smart One Pay

The Smart One Pay ULIP plan lets you plan your life better with payouts at regular intervals for different life stage needs, with the option of paying your premium just once.

Insure Smart Plan

A unit linked insurance plan that helps you accumulate wealth with the flexibility of paying premiums for 5 years and freedom to invest in 6 available fund options as per risk appetite.

Shubh Labh

A unit linked insurance plan that helps you meet your protection and investment needs. It provides you the right channel to invest your hard-earned money by providing you a choice of investment funds along with life cover.

Future Smart Plan

Give your child the promise of a bright and fulfilling future with this unit linked insurance plan that lets you switch funds and make partial withdrawals.

Dream Smart Plan

This unit linked insurance plan helps you save for your specific goals. Enjoy the flexibility to pay premiums for a limited duration while you get life cover for 20 years. Your money is invested in funds of your choice to take care of your long-term financial goals.

Grow Smart Plan

A life insurance plan designed to provide you and your spouse with financial security throughout your retirement. It provides insurance coverage throughout your life while you can pay premiums for a limited duration.

Group Insurance

Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group.

Group Traditional Benefit Plan

A group insurance policy that supports in providing employee benefits such as fund over gratuity, leave encashment and post-retirement medical benefits.

Group Superannuation Plan

A group insurance policy that provides superannuation or pension benefits to employees.

Sampoorna Kavach Plan

An affordable, annual renewable group insurance plan that gives financial security to your employees' families in case of any unfortunate event.

Group Secure

Created specifically for financial institutions, this group insurance policy provides customers an assurance of a secure future for their families and covers loan liabilities in case of unforeseen circumstances.

Corporate Group Term Plan

This group insurance policy for employees is an annual renewable plan that provides low premium Life Cover and can be offered to employer-employee groups & Employee Deposit Linked Insurance (EDLI)

Pradhan Mantri Jeevan Jyoti Bima Yojna

A Government of India initiative that secures the future of the entire family at an affordable premium without any medical tests.

Group Advantage Term Plan

A yearly renewable group term assurance plan that provides life cover to your members, thus securing their family against uncertainties of life.

Importance Of Canara HSBC Life Insurance

Insurance operates on the concept of safeguarding the interest of people from different forms of risks and situations. It is true that insurance is contributing a lot to the economic growth of the country. Life insurance helps in the development of financial institutions and reduce risk by improving financial resources.

Claim Assistance

Life insurance is a policy that you want for your family security when you are not around to take care of them and for investment purpose to gain marvelous returns from it. Thus you will want to ensure that you have chosen the right plan from right company and the claim settlement is also very easy. The claim processing concept should be easier and trouble free so that you can file for claim anytime when you want to file it. When it comes to claim process of Canara HSBC then you must be happy to know that this company offers easier claim assistance service and its helpful executive will be there to help you in every possible case. The company is carrying very helpful yet effective claim process and the claim ratio for this insurance company is better than other, you can easily trust them for your insurance needs. You will be amazed by its claim criteria. You can directly visit its portal for filing claim or you can use this platform to do the same. Before you file a claim, you must ensure that you have the right documents along with you that are very important without the required documents no insurance company will entertain you in the claim process. The Canara HSBC is offering several helpful plans. You will be happy to choose the best one for you; don’t forget to check inclusions, exclusions and terms& conditions of policy for future reference.

Eligibility

  • The person should be at least 18 years old

  • The person should be less than 70 years old

  • Salaried, Self- employed, a professional or businessman are liable to attain its benefits.

Document Required For Filing Claims

As we discuss above there are a few documents that you must carry along with you before filing a claim. With it, the entire procedure of claim will become easier for you. Here is the list of a few documents that you may require.

The death certificate (In case of death)

Original policy documents

ID proof of the beneficiary

Age proof of insured

Discharge form (executed and witnessed)

Medical certificate (as proof for cause of death)

Police FIR (in case of unnatural death)

Contact Address

Canara HSBC OBC Life Insurance Company Ltd,
2nd Floor, Orchid Business Park, Sector - 48, Sohna Road, Gurugram - 122018, Haryana, India.
Phone-1800-103-0003/1800-180-0003 (MTNL/BSNL)

Life Insurance - Faq's

1. When to invest in Life Insurance Policy?

The first moment when you realise that your faamily and loved ones are depend upon you for their daily financial needs, at that time without having a single though in mind. As there is no age limit so it's better to get it the moment you think the requirement arises.

2. How much life insurance you need?

You must invest in a life inusrnace plan that can go well with your needs. Dont forget taht when you are young responsibilities are limited, but it will increase regularly and more people will get attached to you. So, it is advisable to choose th according to your current and future needs.

3. How to know future expenses to get the best insurance plan?

Expenses related to your future basically help assist you in getting a vision of your needs in future. From settling the children, health issues to the retirement living, you need to think about all the expenses to get the best life insurance plan.

4. Is it good to invest in a life insurance policies at a young age?

Sure, investing in a life insurance policy at a particularly younger age, permit you to avail the plan for insurance low premium.

5. Who is the claimant in a insurance coverage?

The person who files a claim oninsurance policy is known as the claimant.

Canara HSBC Life Insurance News

Linking Of Aadhaar With Insurance Policy Is Mandatory, Says IRDA

November 13, 2017

On Wednesday, 8th Nov 2017, the Insurance Regulatory And Development Authority Of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.

 “The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017,” the IRDA said.

In the last June, the government of India had informed about the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, making Aaadhar and PAN/Form 60 compulsory for getting financial services that include insurance also and asked policyholders and companies for linking the existing policies with the same.

In a discussion with all life and general insurance companies, IRDA said the rules have “statutory force” and they have to implement the rule without waiting for the further instructions.

Right now, there are 24 life insurers and 33 general insurance companies operating in the country.

Although, there are no deadlines that have been given by IRDA for the completion of the process, as per the circular, it has to be done as soon as possible. Some insurance companies also said that this can also result in the delay of payout in a few cases. Aadhaar is now also compulsory for financial transactions of Rs 50,000 and above. Likewise, one has to link one’s Aadhaar number with the mobile number latest by February 6, 2018.

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