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About Canara HSBC Life Insurance
Canara HSBC Life Insurance Company was established in 2008. It is a conglomerate of three prominent financial entities, Canara Bank (51%), Punjab National Bank (23%), and HSBC Insurance Holdings Limited (Asia-Pacific) (26%) as the foreign investor. Having its headquarters in Gurugram, the company has a branch network of more than 9,500 branches of Canara Bank, HSBC Insurance, and Punjab National Bank across India. It brings an amalgamation of the banking excellence of Canara Bank and Punjab National Bank along with the insurance knowledge of HSBC.
The company has an asset management base of Rs. 15,374 crores as on March 31, 2020. The highlight of its performance in recent times is the 98.12% Claims Settlement Ratio for the FY 2019-20. On the recognition front, Canara HSBC Life Insurance has been conferred with “The Economic Times Best Brands 2020” Award and the “Life Insurance Company of the Year Award 2020.”
Types of Canara HSBC Life Insurance Plans
Canara HSBC Life Insurance offers an incredible range of life insurance policies under different kinds of plans:
- Term Insurance Plans: Canara HSBC Life Insurance has a range of term insurance plans on offer that can protect your family from all financial burdens until you attain 99 years of age. The list of term plans includes iSelect+ Term Plan, POS – Easy Bima Plan and Saral Jeevan Bima.
- Savings Plans: Canara HSBC Life Insurance Savings Plans encourage you to save for your future and offers multiple avenues to grow your money through systematic and disciplined investments. The list of savings plans includes Invest 4G Plan, Guaranteed Savings Plan, Guaranteed Income Plan, Easy Bachat Plan, Jeevan Nivesh Plan, Money Back Advantage Plan, and Guaranteed Income Advantage Plan.
- Unit Linked Insurance Plans: Canara HSBC Life Insurance offers two ULIPs to help you achieve your aim of creating wealth for your family along with life cover. The plans are Titanium Plus Plan and Smart Goals Plan.
- Child Insurance Plans: Canara HSBC Life Insurance child insurance plans provides the necessary financial security for your children’s future requirements and enable them to realise their dreams and careers. The child insurance plans include Smart Future Plan, Future Smart Plan, and Smart Junior Plan.
- Retirement Plans: Canara HSBC Life Insurance has a comprehensive range of retirement plans to help secure your golden years, enabling you to enjoy them without depending on anyone. The plans include Smart Lifelong Plan, Secure Bhavishya Plan, Smart Monthly Income Plan, Smart Future Income Plan, Pension4Life Plan, and Saral Pension Plan.
- Health Insurance Plans: Canara HSBC Life Insurance offers health insurance to take care of the financial burden of increasing medical expenses. It also covers critical illnesses. The health insurance plan is Health First Plan.
- Group Insurance Plans: Canara HSBC Life Insurance offers various group insurance plans to help employers meet their employee benefit payouts and also secure the financial and insurance needs of the group members. The plans are Group Advantage Term Plan, Group Term Edge Plan, Pradhan Mantri Jeevan Jyoti Bima Yojana, Sampoorna Kavach Plan, Group Credit Secure Plan, Group Secure Plan, and Group Traditional Plan.
Canara HSBC Life Insurance User Reviews
Latest News on Canara HSBC Life Insurance
- An endowment policy is a type of life insurance coverage that includes an investment component as well as a death payment. It enables you to develop a sizable savings account for your family while also ensuring that they are financially secure in your abs
- Like other types of insurance, endowment policies are presently oversupplied on the market. A lot of factors must be examined while choosing the finest endowment insurance coverage. Individual requirements, current life stage, income, and risk appetite ar
- Endowment policies, like other types of insurance, are now oversupplied on the market. When it comes to selecting the best endowment insurance coverage, a number of criteria must be considered. Individual needs, present life stage, income, and risk appeti
- There are numerous endowment plans available on the market, each with its own set of features. Benefits can also be received in a variety of forms, including a lump sum, over a period of time, or for the rest of your life. Comparing the perks and deciding
- A unit-linked insurance plan (ULIP) is a type of life insurance that combines risk protection and investing. The performance of ULIPs is directly influenced by capital market movements. In a Unit Linked Policy, the investor typically bears the investment
Claim Process at Canara HSBC Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
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FAQ About Canara HSBC Life Insurance
How do customers apply for the online insurance plans offered by Canara HSBC Life Insurance?
Customers can access the official website of Canara HSBC Life Insurance and apply for online insurance.
What is the USP of Canara HSBC Life Insurance plans?
Canara HSBC Life Insurance is the pioneer when it comes to reviving lapsed policies online.
What is the overall reach of Canara HSBC Life Insurance?
Canara HSBC Life Insurance has an extensive branch network throughout India because the company uses the vast network of more than 9,500 bank branches to reach out to its customers.
What are the unique attributes of Canara HSBC Life Insurance customer service?
Canara HSBC Life Insurance believes in treating the customers like they want to be treated, with fairness and consistency. The company concentrates on delivering its services with tremendous agility.
What are the different kinds of plans on offer from Canara HSBC Life Insurance?
Canara HSBC Life Insurance offers a range of insurance plans like savings plans, term insurance plans, child plans, health plans, investment plans, group insurance plans, etc.