Canara HSBC OBC Life Insurance

Canara HSBC OBC 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 OBC 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 OBC Life Insurance Plans

Canara HSBC OBC Life Insurance offers an incredible range of life insurance policies under different kinds of plans:

• Term Insurance Plans: Canara HSBC OBC 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 OBC 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 OBC 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 OBC 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 OBC 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 OBC 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 OBC 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.