Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was founded in June 2008 and is jointly owned by two of India's largest banks of public sector – 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.
With the experience of around 300 years in the financial services space in the country, the shareholder has an understanding of the socio-economic needs of the population. Backed by great research, they introduced a pure bancassurance model, a first in India, with each aspect of the business tailored to the specific needs of the distributing banks, including products, training, operational & service support and integration with bank sales processes resulting in an efficient, low cost, distribution model.
The Company's business strategy testifies thorough understanding of the market, especially with veterans looking for bank partner or scaling up their bancassurance channels.
The formidable distribution strength and in-depth local market knowledge of Canara Bank and Oriental Bank of Commerce coupled with the considerable insurance experience, product range and proven bancassurance capabilities of HSBC make this an unparalleled union of financial strength, expertise and most importantly, trust.
The Company has access to around 60 million customers and a pan-India network of over 8000+ branches of Canara Bank, HSBC and Oriental Bank of Commerce. By selling through the three banks' branches, seeking to seamlessly integrate systems and processes to reduce costs, Canara HSBC Oriental Bank of Commerce Life Insurance aims to pass on the savings to customers through lower charges thus making the Company's policies among the most competitive and accessible in the market.
Platinum Plus Plan: Platinum Plus Plan is a unit linked investment cum protection plan which can be customized as per your goals and changing requirements. This plan provides you unmatched flexibility while letting you have full control over your investment in any market movement.
Grow Smart Plan: Grow Smart plan is a whole life unit linked plan which provides insurance coverage throughout your life. This is an affordable insurance plan in which you can pay premiums for a limited duration and get lifelong insurance cover.
Dream Smart Plan: The Dream smart plan, a Unit-Linked Insurance Plan (ULIP) helps save for your specific dreams. With this plan, you have the flexibility to pay premiums for a limited duration while you get life cover for 20 years. Your money is invested in unit-linked funds of your choice to take care of your long-term financial goals.
Future Smart Plan: It is a unit linked child plan that provides a long-term investment opportunity to build a bright future for your child. Its comprehensive insurance cover (Sum Assured on death and Premium Funding on death or disability) ensures that your plan for your child's future continues unaffected, in any unfortunate event.
Shubh Labh: Shubh Labh is a unit linked insurance plan. It helps you meet your protection and investment needs, provides you the right channel to invest your hard-earned money by providing you a choice of 6 investment funds along with providing life cover.
Insure Smart Plan : It is a unit linked insurance plan, it helps you save for your specific dreams with the flexibility of paying premiums for 5 years and getting life cover for 10 years with the freedom to invest in our 6 funds as per your investment needs.
Smart One Pay: It helps you meet your protection and investment needs and aims to generate wealth by investing in the funds of your choice along with the provision of life cover.
Smart Goals Plan : It comes out with flexible features that have been designed to help you plan your financial requirements so that you have the means to fund your goals, with no compromises.
Smart Lifelong plan : It is unit-linked life insurance plan with the objective of wealth creation along with providing whole life coverage – up till 99 years of your age. This plan has been designed to help you fulfill various life stage needs/ responsibilities so that through life you can grow in the right direction by making the right choice.
Smart Future Plan : It is a unit linked plan that provides a long-term investment opportunity to fulfill various family needs like building an asset or to ensure a bright future for your child. Its comprehensive insurance cover (Sum Assured on death and Premium Funding benefit on death or disability) ensures that your plan for your family continues unaffected, in any unfortunate event.
Secure Bhavishya Plan : It is a product that provides the benefit of equity participation to potentially enhance your retirement corpus, and at the same time offers 'capital protection' to your retirement corpus.
QROPS : Upon leaving the UK, the members prefer to transfer the pension funds to their country of residence for better accessibility and options. The UK Government allows the member to transfer their pension funds to pension schemes in India registered as QROPS. QROPS facilitates the transfer of NRI pension funds from the UK to India.
iNVESTSHIELD Plan : It is a unit linked non-participatory investment cum insurance plan which provides the opportunity to create wealth to fulfill various family needs like building an asset or to ensure a bright future for your child.
You can use the insurance premium calculator or use the corporation personal device.
You can visit their internet site, which includes a tool for the company, allowing you to at least get an estimation of what your fund cost should be.
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.