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In today’s blog, which is based on Canara HSBC OBC life insurance, Canara HSBC OBC Customer care, Canara HSBC OBC reviews, and the economy and finance genre We would be discussing the most prominent finance scheme which is very much popular nowadays and has a lot of benefits for the stakeholders.

Table of Contents

Introduction to Canara HSBC OBC life insurance

This company is a joint company, or you may think of it as a joint venture between, Canara Bank and HSBC Insurance Holding Ltd and Oriental Bank of Commerce (OBC), hence, it is named so.

Equity shared by various constituents in Canara HSBC OBC life insurance

Canara Bank– 51%

HSBC Insurance– 26%

OBC- 23%

Main features of Canara HSBC OBC life insurance

The entity was founded on 16^th June 2008 and has more than 60 million customers, having around 7000+ branches across the nation.
The two most important features of this plan are- it covers covid-19 and no health or medical checkup is required to claim and register for this beneficial scheme.
It has tax benefits as well, which amount nearly to Rs. 46,800 and covers the life up to the age of 99 years, you will be surprised to know that more than 8 lakh beneficiaries have already registered for the scheme and secured their future, financially.

For meeting the training and support needs, this venture has set up 28 centers across the country, to assist, guide, and help the bank staff to meet day-to-day needs while working for this joint initiative.

Immediate claim of Canara HSBC OBC life insurance

Canara HSBC OBC life insurance is the first to launch the “immediate payout on death claim” scheme, under which the deceased family would get fund value immediately after the death, after completion of death claim documentation. These claims are supervised under the terms and conditions of the venture, which you may have a look at on their official site.

Term insurance premium of Canara HSBC OBC life insurance

Now, after knowing the benefits of the scheme for Canara HSBC OBC life insurance, you might be looking forward to registration in this scheme, and firstly, the question that you would face is- how much premium I have had to pay for it? Is it monthly/ quarterly/ bi-annually/ yearly? Don’t worry, all your queries would be solved after a satisfactory answer to all your questions.

Let’s take an example, which might help you to anticipate the premium amount, which starts from Rs.458/ per month, which is quite nominal when compared to other insurance and welfare plans.

For example- let us assume that there is a man, having an age of 18 years, and seeking a life cover of 1 crore rupees after the death claim, then he had to pay a certain amount. Hence, the age, gender, and life cover amount are the three basic elements to decide the amount you had to pay as a premium per month.

Hence, if you want to calculate your premium amount with the help of your age and life cover amount, then simply you may go to their official site or policy bazaar site, where you would get a digital calculator, and after a sign-up, you will be redirected to their official site to check the premium amount and decide accordingly.

Canara HSBC OBC Life insurance term plans of Canara HSBC OBC life insurance

These plans provide full security and protection to your family from financial ups and downs and would help them if the unfortunate case of a person’s death.

iSelect star term plan

A person having an age span between 18-65 can register for this plan and the maturity age of the policy is between 28-80 years, having a policy term of 5-62 years.

This policy is available online and contains life cover, and terminal illness cover, which also covers the claim against death and disability of the body.

iNVESTSHIELD plan

The entry age for this policy is 18-50 years, while the maturity age is 28-65 years, having a policy term of 10-15 years, you may take the benefit in installments as well.

You may also withdraw the amount after the 6^th year of the maturity of the policy term.

Jeevan Nivesh plan

It is a saving-cum-protection plan for both the beneficiary and his/her family. It has guaranteed savings, after the maturity of the policy, payout of a sum is assured to the beneficiary.

You may also change the sum assured into annual income for 15 years having a 5 percent decent compound interest.

Money-back advantage plan

This policy protects you and your family by giving death cover, if the beneficiary survives till the end, then maturity is provided in certain milestone periods, which are fixed by this entity itself.

In case of unforeseen events, you would get the benefit of this feature for 16 years.

Smart Junior plan

This plan is total to secure the future safety of your child, this plan emerged by this company due to rising inflation every year and creating hustle in the annual budget of the families, it provides the life cover, as well as help in meeting the educational expenses of your child.

POS Easy Bima Plan

It is quite an affordable plan and has double life coverage benefit, after the policy is matured, then the premium is returned to the beneficiary.

It also contains flexible premium payment methods by which you may choose whichever you find fit according to your needs. The tax benefits can also be claimed according to the then prevailing tax laws.

Smart Suraksha Plan

It offers a life cover and accidental death and disability as well. A rebate is available for women users, it doesn’t contain maturity payment benefits. This plan is very beneficial for your family’s security and protection from unavoidable circumstances.

Here, we have mentioned the top 7 schemes which come under Canara HSBC OBC life insurance, you may choose a plan according to your needs.

DISCLAIMER for Canara HSBC OBC LIFE INSURANCE

Our website did not take any kind of responsibility for the facts and information, which is explicitly or implicitly mentioned, and mainly, the data mentioned here, as it is subject to change and alternation. It is our kind request to you all to visit the official site before purchasing any kind of plan or policy.

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Canara HSBC OBC life insurance: A detailed No.1 discourse on google