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Canara Hsbc Life vs Hdfc Life

Canara Hsbc Life

Canara HSBC Life Insurance company is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%), and Punjab National Bank merged with OBC (23%).

Hdfc Life

HDFC Life is a joint venture between HDFC Ltd., India& 039;s leading housing finance institution, and Aberdeen PLC. It is present in around 980+ towns and cities in India.

COMPANY DETAILS

Canara Hsbc Life

Hdfc Life

Rating	Rating 4.6	Rating 4.6
Number of life insurance plans and add-ons	No. of Plans -	No. of Plans -
Annual Premiums Collected (2023-24)	Annual Premiums Collected (2023-24) 7197.38 Cr	Annual Premiums Collected (2023-24) 962.83 Cr.
Payout Options	Payout Options Lump sum, regular frequencies or a combination of both	Payout Options Lump sum, fixed payouts, or a combination of both
Claim ratio	Claim ratio 99.01%	Claim ratio 99.3%
Solvency Ratio	Solvency Ratio 2.7	Solvency Ratio 2
Branches	Branches 100+	Branches 372 branches
Riders Available	Riders Available Accidental Death Benefit, Accidental Total & Permanent Disability Premium Protection, Accidental Total & Permanent Disability Premium Protection Plus, Critical Illness Premium Protection, Critical Illness Premium Protection Plus,Terminal Illness B	Riders Available Income Benefit on Accidental Disability Rider, Critical Illness Plus Rider, Protect Plus Rider, Health Plus Rider
Policy Term	Policy Term 5 to 40 years	Policy Term 10 to 40 years

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Overview

Canara HSBC Life Insurance: Overview

Canara HSBC Life Insurance, a prominent insurance company in India, was founded in 2008. It serves as a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) & Punjab National Bank merged with OBC (23%). The company has a well-organized distribution network in Tier 1, 2, and 3 markets (including the rural areas).

Canara HSBC Life Insurance offers a range of life insurance products, including term, savings, investment, retirement, and child plans. As per the IRDAI Report 2022-2023, Canara HSBC Life Insurance has a CSR of 99.01, displaying their fast and hassle-free claim settlement process.

Canara HSBC Life Insurance Company ensures to look after your insurance needs by offering:

Wide range of plans
Affordable plans
Rider benefits

Good customer support
Tax savings

Riders

Riders You Can Avail With Canara HSBC Life Insurance Plans

Name of the Riders	Benefits
Accidental Death Benefit	Get an extra payout on top of base cover’s upon death due to an accident.
Accidental Total & Permanent Disability Premium Protection	Upon accidental total & permanent disability to the policyholder, your future premiums will be waived, and the policy will continue till maturity.
Accidental Total & Permanent Disability Premium Protection Plus	Get an extra payout on top of the base cover lump sum in case of accidental total & permanent disability, and your future premiums will be waived.
Critical Illness Premium Protection	If you are diagnosed with 40 pre-specified critical illnesses, your future premiums will be waived, and the policy will continue until maturity.
Critical Illness Premium Protection Plus	Get additional coverage if you are diagnosed with any 40-covered critical illness, and your future premiums will be waived, and the policy will continue until maturity.
Terminal Illness Benefit	If you are diagnosed with any covered terminal illness, lump sum benefit up to a maximum of Rs. 2 Crores shall be payable while you're alive.

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