Canara HSBC OBC is among the best life insurance company operating due to outstanding performance in insurance. Canara HSBC OBC keeps on flooding new term plans to assist the growing population in accomplishing protection goals and financial safety of the family.
Simple Claim Procedure
The claim process designed by Canara HSBC OBC life insurance is easy to follow without any involvement of efforts.
High Coverage Options
By choosing high coverage, the assured is indirectly preparing himself and his family from the future increase in the inflation rate and other financial risks related to economics.
Lifelong Protection to the Family
The four Canara HSBC OBC term plans discussed below offers long life protection up to a maximum of 80 years.
All the term plans introduced by Canara HSBC OBC life insurance contains tax benefits with regard to Section 80C and 10 (10D) under the Income Tax Act. The premiums paid for a term plan will receive a tax deduction on the income tax submitted each year on the annual income.
Easy and Quick Claim Settlement Process
The online process of claim intimation and processing has made the claim settlement more convenient and quick for the policyholders. By providing this facility, Canara HSBC OBC term plans have earned a good reputation among its customers.
Special Rate of Premium for Non-smokers
Not only females are given due importance but policyholders who maintain a healthy and influencing lifestyle by not consuming tobacco are also offered rebates on the premiums. There is a significant difference between premium rates for non-smoker and smokers.
Nobody wants to be in restrictions and want variant choices in life. Keeping this need in mind, Canara HSBC has included the feature of flexibility in selecting premium paying term, policy term, and sum assured options.
Value of Brand in the market
Canara HSBC OBC Life Insurance company has been formed by the joint planning of three banks Canara Bank, HSBC bank and Oriental Bank of Commerce. Canara and OBC bank are nationalized banks with millions of satisfied customers present all over the country whereas HSBC is an international bank operating in 71 countries with 45 millions of customers.
Lower Premiums for Female
Canara HSBC life insurance company has settled for a lower rate of premium exclusively for women. The age taken to decide the amount premium for females would be Actual Age minus 4 years. For instance, if a female is taking term insurance cover at the age of 35 years, then she has to deposit premium according to the age of 31 years (35 years minus 4 years).
This online term plan of Canara HSBC offers the benefit of increasing sum assured to fight inflation and simultaneously meeting all the protection needs of the family.
|Accidental Death Benefit||Accidental Total & Permanent Disability Benefit|
|Minimum Sum Assured||25,00,000||25,00,000|
|Maximum Sum Assured||3,00,00,000||1,00,00,000|
An ultimate protection plan that promises comprehensive term coverage at an economical cost and also assures optional cover for accidental death or/and total and permanent disability.
This Canara HSBC OBC term plan is an amalgamation of life and term insurance where it pays a death benefit (on death) and maturity benefit (on survival).
For instance, if Rs 3 lakhs of sum assured is opted and after some years death occurred due to an accident, then Rs 6 lakhs will be provided where additional accidental death benefit of Rs 3 lakhs is provided.
It is a pure protection plan which was initiated by Canara HSBC Life to provide financial assistance to the family on the death of life assured caused by illness or accidents.
|Canara HSBC OBC Term Plan||iSelect Term Plan||Smart Suraksha Plan||POS- Easy Bima Plan||eSmart Term Plan|
|Minimum Age of Entry||18 years||18 years||18 years|
|Maximum Age of Entry||70 years||65 years||55 years||70 years|
|Maximum Age of Maturity||80 years||75 years||28 years to 65 year||75 years|
|Term of the Policy||5 years to 40 years||5/ 10/ 15/ 20/ 25/ 30 years |
Up to 60 years (for age between 30 to 55 years)
|10/ 15/ 20 years||5/ 10/ 15/ 20/ 25/ 30/ 35/ 40 years|
|Minimum Sum Assured||Rs 25 lakhs||Rs 20 lakhs||Rs 50,000||Rs 25 lakhs|
|Maximum Sum Assured||No limitations (regards to underwriting)||No limitations (regards to underwriting)||Rs 15 lakhs||No limitations (regards to underwriting)|
|Premium Paying Term||Same as the policy term||Same as the policy term||Same as the policy term|
|Premium Paying Frequency||Yearly/ Monthly||Yearly/ Monthly||Yearly/ Monthly||Yearly|
When the life assured commits suicide disregard of the medical condition of the assured, the nominee will be paid an amount equal to 80% of the premium deposited till date starting from the date of inception of the policy or renewal of the term policy.
Yes, free look period of 15 days is given when you buy a term insurance plan. The objective to give proper time to the assured to read all the terms and conditions in details. Thereafter, analyzing each and every clause for taking decision to continue the policy.
If assured is not satisfied with terms and conditions, then all the premium paid till the period will be returned by deducting stamp duty charges and proportionate risk premium.
It is the disability caused due to an accident that makes the assured totally unable to live independently and hinders the daily activities practiced before the disability. A policyholder is considered as disabled if he/ she accomplishes any of the below-listed disabilities-
The claim information can be circulated to Canara HSBC OBC life insurance through-
The current ratio achieved Canara HSBC OBC to settle a claim is 95.22%. This shows the company's fast service, lesser rejections, happy customers and better life insurance coverage.
- / 5 ( Total Rating)
Last updated on 13-11-2019