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Canara HSBC Oriental Bank of Commerce Life Insurance

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Canara HSBC Oriental Bank of Commerce Life Insurance

Overview
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was founded in the year 2008 and is owned jointly by the Oriental Bank of Commerce and Canara Bank along with HSBC Insurance Holdings Limited, which is also the insurance division of the HSBC Group in Asia. The entity possesses more than 300 years of experience in the Indian financial services sector, considering the fact that all three organizations are some of the biggest names in the industry.

The company taps into a network 60 million customers across the country spread across more than 8,000 branches of the Oriental Bank of Commerce, Canara Bank and HSBC. The entity is known for offering comparatively affordable policies to customers.

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited: Term Plans
There are reasonably priced term insurance plans offered by Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited and these come with tenures between 10 to 30 years. These traditional insurance plans offer double benefits in terms of protection for the future of one’s family along with fixed earnings guarantees.

Documentation needed to apply for Canara HSBC Oriental Bank of Commerce Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph
Canara HSBC Oriental Bank of Commerce Term Insurance Plans
  • Canara HSBC Oriental Bank of Commerce Life Insurance iSelect Term Plan: A pure protection plan that provides life insurance and terminal illness cover along with cover against accidental death or disability
  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart Suraksha Plan: A pure protection plan that provides life insurance cover along with the option to cover against accidental death/ disability.
  • Canara HSBC Oriental Bank of Commerce Life Insurance POS - Easy Bima Plan: A pure term insurance plan with return of premium on date of maturity. It is specially designed to provide an affordable and hassle free protection.

1: Canara HSBC Oriental Bank of Commerce Life Insurance iSelect Term Plan: This is a non linked, non participating term plan offering life insurance and terminal illness cover along with cover against accidental death at pocket friendly costs.

Advantages and Benefits
  • Choices of life cover up to age 80 with inbuilt death and terminal illness covers.
  • Multiple payout options to choose from.
  • Option to choose additional Accidental Total and Permanent Disability riders.
Features Description
Age at entry (as on last birthday) Life Assured: 18 years - 70 years
Spouse (if opted for): 18 years - 50 years
Maximum age at maturity 80 years
(If optional in-built cover has been chosen: 75 years)
Policy Term 5 years - 40 years (Policy term of 5 years - 9 years is available only for age at entry of 35 years and above)
Sum Assured (inclusive of Terminal Illness cover) Life Assured: Rs. 25,00,000 & above (subject to underwriting)
Spouse: Rs. 25,00,000 (fixed)
Optional in-built cover (if opted for) Accidental Death Benefit (ADB): Min: Rs. 25,00,000, Max: Rs. 3,00,00,000
Accidental Total and Permanent Disability (ATPD): Min Rs. 25,00,000, Max: Rs. 1,00,00,000
Premium payment mode Yearly/ monthly
Premium Payment Term Regular premium payment (Same as Policy Term)

https://www.canarahsbclife.com/lifeinsurance/portal/canh/home/for-individual/iSelect-term-plan

2: Canara HSBC Oriental Bank of Commerce Life Insurance Smart Suraksha Plan: This is a non linked, non participating term plan. The plan is tailor made to ensure life insurance cover is made available at a low cost.

Advantages and Benefits
  • Get Life Insurance Cover at a low cost.
  • Option to cover accidental death or/and total and permanent disability.
  • Reward for healthy lifestyle - lower premium rates for non-consumers of tobacco./li>
Features Description
Age at entry (as on last birthday) 18 yrs – 65 yrs (for policy term greater than 5 yrs)
40 yrs - 65 yrs (for policy term equal to 5 yrs)
Maximum age at maturity 75 years
Policy Term 5 yrs /10 yrs/ 15 yrs/ 20 yrs/ 25 yrs/ 30 yrs
Sum Assured Rs. 20,00,000 & above (subject to underwriting)
Maximum Sum Assured in Life Cover option - No Limit
Maximum Sum Assured under Accident Plus: `3Cr
Maximum Sum Assured under Disability Plus: `1Cr
Annual Premium Minimum premium will depend on minimum entry age and minimum sum assured.
Maximum premium : No limit
Premium payment mode Yearly/ monthly
Premium Payment Term Regular premium payment (Same as Policy Term)

https://www.canarahsbclife.com/lifeinsurance/portal/canh/home/for-individual/smart-suraksha-plan

3: Canara HSBC Oriental Bank of Commerce Life Insurance POS - Easy Bima Plan: This is a non-linked, non-participating, term Plan with a return of premium. The plan offers freedom to choose premium payment and policy term to suit your requirements.

Advantages and Benefits
  • Return of the total premium paid (including modal loading but excluding GST) upon survival till maturity.
  • Premium payment term options - Choice of flexible premium payment and policy term to suit your requirements.
  • Double life cover in case of accidental death.
Features Description
Age at entry (as on last birthday) 18-55 years
Maximum age at maturity 65 years
Policy Term 10, 15, 20 years
Sum Assured Rs. 50,000 to Rs. 15,00,000
Annual Premium Policy Term 10 year - Rs. 2,219
Policy Term 15 year - Rs. 1,076
Policy Term 20 year - Rs. 989
Premium payment mode Annual & Monthly mode
Annual premium needs to be multiplied with a factor of 0.10 to arrive at the monthly installment premium payable.
Premium Payment Term 5 Pay - 10 year policy term
10 Pay - 15 year policy term
10 pay - 20 year policy term

https://www.canarahsbclife.com/lifeinsurance/portal/canh/home/for-individual/pos-easy-bima-plan