Lic Pension Plans
vs
Canara Hsbc Life

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Lic Pension Plans vs Canara Hsbc Life

Lic Pension Plans

LIC Pension Plans are designed to secure the future after retirement. These policies are most suited for senior citizens and those planning a secure future so that they never give up on the best things in 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%).

COMPANY DETAILS Edit LIC Pension Plan

Lic Pension Plans

 Edit Canara HSBC Life Insurance

Canara Hsbc Life
Rating
Number of life insurance plans and add-ons
Annual Premiums Collected (2023-24)

Annual Premiums Collected (2023-24)

Rs 1 lakh to No limit

Annual Premiums Collected (2023-24)

7197.38 Cr
Payout Options

Payout Options

-

Payout Options

Lump sum, regular frequencies or a combination of both
Claim ratio

Claim ratio

Minimum Age- 30 year%

Claim ratio

99.01%
Solvency Ratio

Solvency Ratio

85 years

Solvency Ratio

2.7
Branches

Branches

Annual, half-yearly,

Branches

100+
Riders Available

Riders Available

10 to 30 years

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
Policy Term

Policy Term

10 to 40 years

Policy Term

5 to 40 years

Know More About Companies

Overview

LIC Pension Plan

LIC Pension Plans are designed to secure the future after retirement. These policies are most suited for senior citizens and those planning a secure future so that they never give up on the best things in life. LIC (Life Corporation of India) is one of the oldest and most trusted insurance providers. The LIC Pension Scheme will help you in the golden years of your life. LIC pension plans are designed after extensive research and have been able to help millions of senior citizens across the country. LIC Pension schemes are versatile that meet every generation's evolving needs. Currently, 4 LIC retirement plans offered by the Life Insurance Corporation of India provide a steady flow of income to individuals in their second innings of life post-retirement.

LIC Pension Plan ensures to look after your insurance needs by offering:

why-choose

  • Secure a regular income with LIC pension plans

  • Easy process

  • A good investment for corporate employees

  • Lifetime Payout

 

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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Naval Goel

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