Canara HSBC Term Insurance

Canara HSBC Term Insurance

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Canara HSBC Term Plans In India

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched in June 2008 and is jointly owned by two of India's largest public sector banks – Canara Bank (holding 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.

Canara HSBC plan offers you economic protection so that when your profits start to decrease regularly, you can live with pride without compromising. Due to the growing inflation and high value of living, future planning has become the most vital. So, it is crucial to start saving early for a relaxed, stress-free life. For this Canara HSBC OBC term plan, is satisfactory for you.

Importance Of Term Insurance

Term Insurance provides a life insurance facility that is provided by most of the insurance company as a financial coverage but for the specific time period only. The policyholder is covered from mishaps like death during the specific time of the policy term. Term insurance covers the policy holder for a fixed period of time. For the term insurance there is no cash value and as a result, the plan is less expensive than the other regular life insurance policies. The term insurance is useful only when the policy holder is dead within the time span during which the term insurance policy is valid. The term insurance plan also offers a very high cover to the policy holder at a very minimal cost. Death is an uncertain event of life and all we can do is to be prepared for the same that is why one buys any insurance policy. But in case of the uncertain and untimely death of the policy holder, a term insurance plan is a savage and offers a financial protection to the family of the policy holder.

Canara HSBC Term Plans

iSelect Term Plan

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

iSelect Key Benefits

Avail monthly payout for your child till the end of policy term, in case of the insurer's death.

Receive benefit amount in convenient monthly installments.

Opt for increasing sum assured & avail the benefit of 25% increase every 5 policy years.

Why Buy iselect?

Financial security for longer tenure

Choice of life cover up to age 80 with inbuilt death and terminal illness covers.

Spouse cover

Option to cover your spouse along with your policy.

Family's financial liabilities

Flexibility to opt whole or part of the plan benefit as regular monthly income.

Increased life stage responsibilities

Option to increase your cover by 25% every 5 years ensures that your life stage needs are met. If opted, the Sum Assured increases up to 100% of the original sum assured during the policy term.

Various features of term insurance policy

There are various benefits of the term insurance policy and few of them are like following

Affordable premium option

Term Insurance policy premium offers the customer's lowest premium payment options. The policyholder can choose a premium amount based on the convenience. The premium can be paid in a single payment or regular plans in which premium can be paid either monthly, quarterly or annually.

Return more than the Investment

Some customer finds their self in the dilemma that with a promise of zero return on the survival of the term in the term insurance policy one should buy it or not? So the policy holder should choose the company that provides the return of the entire policy premium amount that is paid by the policyholder under the tenure of the term insurance plan. This is covered under the term return of premium plan of the company.


Insurance companies facilitate the policy holders with the choice of various term plans. The policy holder can opt for the term insurance policy as per the requirement. One can choose from the single or joint life term insurance plans. In case of a change in the marital status, the policyholder can extend the policy for the dependent spouse.

Add - on benefits

There are many benefits that are not covered in the term insurance plans for the individual. Insurance companies understand the need for the policy holder and they provide various add - on plans as per the need of the customer. Premium amount hike with the add -on in the policy that provides cover for the cases like critical illness, permanent disability, and accidental death.

Tax savings

The premium amounts paid for the term insurance plan in which payouts are made in the case of death are tax-free. In a legal way there are various acts of the Income Tax Act under which term insurance plan covered and thus one enjoy the tax-free benefit of the policy.


How Do I get the primary idea about the premium that has to be paid for the life insurance?

You can use the insurance premium calculator or use the corporation personal device.

There is any way to find out what my best investment plan would be?

You can visit their internet site, which includes a tool from the company, allowing you to at least get an estimation of what your fund cost should be.

What is the grace period for paying the charges?

You get 30 days from the due date to pay your premiums, at some point of which your plan and life insurance cover will maintain, post the date, you will not receive cover till premium amounts paid.

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*Information provided on this webpage/website is only for the purpose of general information & understanding of the topic. PolicyX or any of its subsidiaries does not endorse any of the information provided herewith and are committed in providing correct and unbiased information to its customers helping them make an informed decision.