Canara HSBC OBC Life Insurance

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was founded in 2008 and is headquartered in Gurugram, Haryana. The company is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank merged with OBC (23%). The company has a well-organised distribution network across the country in Tier 1, 2 and 3 markets including the rural areas. The company offers a miscellaneous range of life insurance products that are customized according to the requirements of its customers. It provides several solutions such as term insurance plans, child insurance plans, health insurance plans, savings plans, retirement plans as well as group insurance plans.

Highlights

**Last Updated on 25-08-2020

Canara HSBC OBC Life Insurance Plans

1. Canara HSBC OBC Term Insurance Plans

Canara HSBC OBC Term Insurance Plans are custom-made solutions to meet the specific requirements of its customers. These term insurance plans offer whole life cover, multiple payout options, the return of premiums and increasing life coverage options.

Following are the term insurance plans by Canara HSBC OBC Life Insurance:

i) Canara HSBC OBC iSelect+ Term Plan

Canara HSBC OBC iSelect+ Term Plan ensures financial security for you and your family in case of unforeseen circumstances. The plan provides flexibility to choose from different coverage options, payout options and premium payment options. It also offers discounts on premium for choosing higher sum assured options for female lives together with loyalty additions.

Eligibility Criteria

**Last Updated on 25-08-2020

ii) Canara HSBC OBC POS - Easy Bima Plan

Canara HSBC OBC POS - Easy Bima Plan, an affordable traditional pure term insurance plan that provides financial protection to your loved ones at different stages of life. The plan offers a return of premiums upon survival on the date of maturity of the policy. In case of accidental death, double life coverage will be provided to support the family.

Eligibility Criteria

**Last Updated on 25-08-2020

2. Canara HSBC OBC Life Child Insurance Plans

Canara HSBC OBC Child Insurance Plans are specially designed to allow the policyholder to save money for his/her child's future goals. These plans offer financial protection to your child at the time of graduation or higher education, marriage, etc.

Let us look at the Canara HSBC OBC Life Child Insurance Plans as follows:

i) Canara HSBC OBC Life Invest 4G Plan

Canara HSBC OBC Life Invest 4G Plan is a savings oriented child protection plan which gives you an opportunity for savings to fulfil your child's dreams and life goals. It offers wealth boosters, loyalty additions along with the return of mortality charges during the maturity of the policy that finally results in optimizing your savings. This plan also acts as a post-retirement saving plan.

Eligibility Criteria

**Last Updated on 25-08-2020

ii) Canara HSBC OBC Life Smart Junior Plan

Canara HSBC OBC Life Smart Junior Plan is a participating, non-linked savings and protection endowment life insurance plan developed to fulfil your child's education needs in the future and to achieve major milestones of life. As the plan is participating, it might add final and reversionary bonuses on the maturity of the policy.

Eligibility Criteria

**Last Updated on 25-08-2020

iii) Canara HSBC OBC Life Smart Future Income Plan

Canara HSBC OBC Life Smart Future Income Plan is a plan that secures you and your family's future financially. The plan offers protection against your child's education needs and helps you accumulate lump sum savings for your family. As it is also a retirement plan, it offers life coverage along with regular guaranteed income up to 15 years for post-retirement life.

Eligibility Criteria

**Last Updated on 25-08-2020

iv) Canara HSBC OBC Life Jeevan Nivesh Plan

Canara HSBC OBC Life Jeevan Nivesh Plan, a savings cum protection plan that gives you a whole life insurance coverage and allows legacy planning through wealth creation. This plan is a one-time investment plan that offers regular returns for a lifetime.

Eligibility Criteria

**Last Updated on 25-08-2020

v) Canara HSBC OBC Life Money Back Advantage Plan

Canara HSBC OBC Life Money Back Advantage Plan is a plan that ensures benefit money back payouts at key milestones during the policy term along with a guaranteed lump sum amount at maturity. The plan provides financial support to the family up to 16 years after the death of the life assured.

Eligibility Criteria

**Last Updated on 25-08-2020

vi) Canara HSBC OBC Life Future Smart Plan

Canara HSBC OBC Life Future Smart Plan is a unit-linked child plan that secures the financial future of your child even in your absence. Under this plan, you can increase or decrease the sum assured from the 6th policy year by paying all the due premiums. The plan is also a savings plan where you can enjoy benefits like auto fund rebalancing, partial withdrawals, fund switching, etc.

Eligibility Criteria

**Last Updated on 25-08-2020

3. Canara HSBC OBC Health Insurance Plan

It offers the policyholders an affordable and lump sum amount during medical contingencies like heart diseases and cancer. It also helps you to deal with pre-defined 26 major critical illnesses (mentioned in the policy documents) and its related complications.

Below-mentioned is the health plan offered by Canara HSBC OBC Life Insurance:

i) Canara HSBC OBC Health First Plan

Canara HSBC OBC Health First Plan offers higher health coverage at affordable premiums. It provides an increasing cover option for increasing medical requirements. The plan waives off all future premiums on the first diagnosis of minor conditions of cancer and heart ailments.

Eligibility Criteria

**Last Updated on 25-08-2020

4. Canara HSBC OBC Life Savings Plans

Canara HSBC OBC Life Savings Plans are appropriate to fulfil the financial liabilities of the policyholder in addition to life coverage. These plans encourage regular savings along with the benefit of guaranteed income and bonus. They also provide loan facilities to cope up with the uncertainties of life. These plans are responsible to take care of different obligations such as child's education, marriage, etc.

Let us read about the various savings plans offered by Canara HSBC OBC Life Insurance:

i) Canara HSBC OBC Life Titanium Plus

Canara HSBC OBC Life Titanium Plus is a unit-linked protection plus savings plan. The plan provides a number of investment management options to maximize market-linked returns in your portfolio. Also, loyalty bonuses and wealth boosters are rewarded throughout the policy term to enhance your savings.

Eligibility Criteria

**Last Updated on 25-08-2020

ii) Canara HSBC OBC Life Guaranteed Income Plan

Canara HSBC OBC Life Guaranteed Income Plan is a savings plan that offers guaranteed income for the entire policy tenure by paying a limited or one-time premium for the policy. The plan pays guaranteed maturity benefit and flexibility to choose the premium payment term as per your needs. One can create more savings by paying higher premiums.

Eligibility Criteria

**Last Updated on 25-08-2020

iii) Canara HSBC OBC Life Smart Future Plan

Canara HSBC OBC Life Smart Future Plan is comprehensive and unit-linked insurance coverage which offers long-term investment options so as to meet the various requirements like securing the child's future and building assets. The plan provides the whole sum assured on death and premium funding benefit to the life assured's family in case of his/her death or disability.

Eligibility Criteria

**Last Updated on 25-08-2020

iv) Canara HSBC OBC Life Smart Lifelong Plan

Canara HSBC OBC Life Smart Life Long Plan, a unit-linked life insurance policy which assists you to build a corpus along with the provision of whole life insurance cover up to the age of 99 years. The plan helps in generating long-term capital through market-linked returns on investments. It offers the flexibility to select the premium paying term along with the facility of switching and redirection among different fund options.

Eligibility Criteria

**Last Updated on 25-08-2020

v) Canara HSBC OBC Life Insure Smart plan

Canara HSBC OBC Life Insure Smart Plan is 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. It also provides life coverage of 10 years and allows switching between various fund options. One can make partial withdrawals in the policy from the 6th policy year.

Eligibility Criteria

**Last Updated on 25-08-2020

vi) Canara HSBC OBC Life Grow Smart Plan

Canara HSBC OBC Life Grow Smart Plan is a whole life unit-linked savings plan that provides coverage throughout the lifetime. The policyholder needs to pay premiums for a limited period and get long-term life coverage. In case of death of the life assured, the policy is liable to pay a death benefit equal to 105% of all paid premiums to the nominee(s).

Eligibility Criteria

**Last Updated on 25-08-2020

vii) Canara HSBC OBC Life Easy Bachat Plan

Canara HSBC OBC Life Easy Bachat Plan is a life insurance plan that helps in accumulating savings and provides protection to the family at nominal prices. The plan offers guaranteed additional bonuses and guaranteed maturity benefit on payment of the due premiums of the policy.

Eligibility Criteria

**Last Updated on 25-08-2020

viii) Canara HSBC OBC Life Guaranteed Savings Plan

Canara HSBC OBC Life Guaranteed Savings Plan provides financial security to you and your family by building a corpus to achieve life goals like education of your child, buying a home, planning child's marriage, etc. The plan ensures guaranteed additions every policy year and maturity benefit at the time of maturity. The death benefit paid is 11 times the annualized premium of the policy.

Eligibility Criteria

**Last Updated on 25-08-2020

ix) Canara HSBC OBC Life Smart Monthly Income Plan

Canara HSBC OBC Life Smart Monthly Income Plan offers guaranteed monthly income for 15 years to secure your loved ones along with a life cover of 25 years. It also offers a loan facility and final reversionary bonuses for wealth creation to fulfil your financial goals.

Eligibility Criteria

**Last Updated on 25-08-2020

4. Canara HSBC OBC Life Retirement Plans

Canara HSBC OBC Retirement Plans are designed to assist the life assured to deal with challenges of post-retirement life. These plans enhance the retirement corpus and also provide capital protection at the same time. These policies give you the freedom to plan your retirement life as per your needs.

Let us look at the following Canara HSBC OBC Life retirement plans:

i) Canara HSBC OBC Life Secure Bhavishya Plan

Canara HSBC OBC Life Secure Bhavishya Plan is a life insurance retirement product which offers the advantage of equity participation that increases savings eventually. It offers guaranteed vesting benefit of 101% of premiums (inclusive of top-up premiums). It also provides flexibility to choose premium payment modes, vesting age and premium payment term as per your needs.

Eligibility Criteria

**Last Updated on 25-08-2020

ii) Canara HSBC OBC Life Smart Lifelong Plan

Canara HSBC OBC Life Smart Lifelong Plan helps you to choose an independent and secure retired life by providing long term life coverage up to 99 years of age. The plan allows switching and redirection between fund options as per the market-linked risks. The life assured can also enjoy facilities like auto funds balancing and partial withdrawals under the policy.

Eligibility Criteria

**Last Updated on 25-08-2020

5. Canara HSBC OBC Life Group Insurance Plans

Canara HSBC OBC Group life insurance plans are solutions provided to an employer or an entity so that they can cover the employees or members of the group or organisation. These plans offer financial security to the employees as well as their families during the uncertainties of life. One can enjoy tax advantages under these policies as per the prevailing income tax laws.

Here's a list of Canara HSBC OBC Group Life insurance plans:

i) Canara HSBC OBC Life Group Advantage Term Plan

Canara HSBC OBC Life Group Advantage Term Plan, a group term assurance plan that can be renewed on a yearly basis and provides life coverage and financial protection at low costs.

Eligibility Criteria

**Last Updated on 25-08-2020

ii) Canara HSBC OBC Life Group Term Edge Plan

Canara HSBC OBC Life Group Term Edge Plan is a pure risk group term plan that provides coverage to the group members against critical illnesses and terminal illnesses. The plan offers rebates in case the group's total premium exceeds an amount equal to Rs. 2 crores in a year. As per the provisions of the Employees Provident Fund and Miscellaneous Provisions Act, 1952, risk cover is provided in lieu of EDLI Scheme.

Eligibility Criteria

**Last Updated on 25-08-2020

iii) Canara HSBC OBC Pradhan Mantri Jeevan Jyoti Bima Yojna

Canara HSBC OBC Pradhan Mantri Jeevan Jyoti Bima Yojna is a non-linked and non-participating group term insurance plan that secures the future of the entire family at an affordable premium without any medical tests. It is an initiative taken by the Government of India which also provides life coverage to protect the family in case of unfortunate death of the life assured.

Eligibility Criteria

**Last Updated on 25-08-2020

iv) Canara HSBC OBC Life Sampoorna Kavach Plan

Canara HSBC OBC Life Sampoorna Kavach Plan is a traditional, affordable and non-participating plan that safeguards the family of the employee at the time of his/her unfortunate demise. The enrolment process of the plan is simple and hassle-free. Also, no medical check-ups are required to get coverage under the policy.

Eligibility Criteria

**Last Updated on 25-08-2020

v) Canara HSBC OBC Life Group Credit Secure Plan

Canara HSBC OBC Life Group Credit Secure Plan has been launched specifically for financial institutions such as banks and lending institutions. It provides loans like home loan, vehicle loan, education loan, personal loan, etc. It offers coverage against death due to accidents, critical illness, accidental permanent disability and terminal illness. Under the policy, the life assured can choose between 12 risk cover options.

Eligibility Criteria

**Last Updated on 25-08-2020

vi) Canara HSBC OBC Life Group Secure Plan

Canara HSBC OBC Life Group Secure Plan is an ideal solution to provide financial protection against the liabilities to the families of the borrower. The loans taken by the borrower can be easily managed by the lending institutions with the help of this insurance plan in case of the unfortunate demise of the borrower.

Eligibility Criteria

**Last Updated on 25-08-2020

vii) Canara HSBC OBC Life Corporate Group Term Plan

Canara HSBC OBC Life Corporate Group Term Plan is a group insurance policy for employer-employee groups that offers term insurance in lieu of Employee Deposit Linked Insurance (EDLI). It provides flexibility to choose life coverage for all the members and premium paying modes. Rebates shall be added in the event where the total premium of the group exceeds Rs. 25 lakhs.

Eligibility Criteria

**Last Updated on 25-08-2020

Why Choose Canara HSBC OBC Life Insurance Plans?

Safety & Security

No matter how much we grow, fear of a sudden loss is always there and therefore, these life insurance products offer complete financial assistance to the family of the insured person even after his/her demise.

Financial Resources

Canara HSBC OBC life insurance helps in generating funds of the policyholder with market-linked returns. It helps in covering accumulated capital in investments and mitigating the loss. Choosing a suitable Canara HSBC investment plan as per your needs can assist in building a huge corpus for the future.

Encourages Savings

Canara HSBC OBC savings plans allow you to do systematic savings with the help of regular premium payments and return on investments. You will also get a lump sum amount at the time of maturity of the savings plan. Thus, the plans are also helpful in developing a habit of savings.

Income Tax Advantages

There is no doubt that the customer will enjoy guaranteed tax benefits from Canara HSBC OBC life insurance plans. You can avail tax advantages on the benefit received and paid premiums under Section 10(10D) and Section 80C of the Income Tax Act, 1961.

Why PolicyX.com Is A Suitable Option To Buy Canara HSBC OBC Life Insurance Plans?

PolicyX.com is the Insurance Regulatory and Development Authority of India (IRDAI) certified web insurance aggregator company. Here's a list of primary features offered by PolicyX.com to fulfil all your insurance needs:

• It offers free online comparison services from the comfort of your home.
• It helps in providing unbiased quotes by comparing the quotes as per requirements from all the insurance companies within a few seconds.
• You can easily purchase life insurance plans as the buying process is hassle-free, simple and can be done within 5 minutes.
• The company has excellent customer service to provide you with every information about the policies and its related queries. You can contact the customer support team for any type of queries regarding the purchase, claim, etc. 

What Is the Claim Settlement Process of Canara HSBC OBC Life Insurance Plans?

Claim Registration

The nominee has to intimate about the claim to the company by filing a claim form and submitting it to the head office or the nearest branch of Canara HSBC OBC office. The claim form can be collected from any respective bank branches or offices. On receipt of the form, the company will register your claim.

Eligibility Criteria For Filing Claims: 

• 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 Claim Settlement:

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.
• Original policy documents.
• ID and address proof of the beneficiary.
• Age proof of insured.
• Discharge form (from the hospital).
• Medical certificate (as proof for the cause of death).
• Police FIR (in case of unnatural death).
• Bank account details of the beneficiary.

Claim Processing & Settlement

Once the company has received all the necessary documents, they will process the claim for further verification. Upon successful verification process of the claim and required information regarding the claim, the insurer will disburse the claim amount into the nominee's bank account.

Canara HSBC OBC Life Insurance Company: Contact Details

For Customers in India

Contact Address:

Canara HSBC OBC Life Insurance Company Ltd.

2nd Floor, Orchid Business Park, Sector - 48, Sohna Road, Gurugram - 122018, Haryana, India.

Customer Support:

Phone: 1800-103-0003/1800-180-0003 (MTNL/BSNL)

Monday to Friday - 8:00 AM to 8:00 PM IST

Saturday - 9:00 AM to 6:00 PM IST

For Sales Service: 1800-258-5899

7 days a week - 9:00 AM to 6:00 PM IST

Text Message: SMS ‘CALLBACK' to 09779030003.

E-mail: customerservice[at]canarahsbclife[dot]in

For Customers Abroad:

Contact Address:

Canara HSBC OBC Life Insurance Company Ltd.

Unit No.208, 2nd Floor, Kanchenjunga Building, 18 Barakhamba Road, New Delhi - 110001, India.

Customer Support:

Phone: 0124-4315200

Monday to Friday - 8:00 AM to 8:00 PM IST

Saturday - 9:00 AM to 6:00 PM IST

E-mail: customercare[dot]NRI[at]Canarahsbclife[dot]in