About Canara HSBC OBC Term Insurance
Canara HSBC Oriental Bank of Commerce is a joint venture between Canara Bank, Punjab National Bank, and HSBC Insurance (Asia Pacific) Holdings Limited, offers a variety of insurance plans, including term insurance. The company was founded in 2008, since then it has been one of the leading life insurance providers in India. The USP of Canara HSBC OBC Life Insurance term insurance plans is that they provide substantial insurance coverage for extended periods for low premiums.
Canara HSBC OBC Life Insurance company values its customers. The company has tailored insurance plans to fulfill different requirements of different people. Canara HSBC OBC Life Insurance company is customer-centric company, the company aims at providing best-in-class services to its customers.
List of Canara HSBC OBC Term Insurance Plans
Following are the term insurance plans offered by Canara HSBC OBC Life Insurance:
- Saral Jeevan Bima
- iSelect Star Term Plan
- POS - Easy Bima Plan
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Claim Process at Canara HSBC OBC Term Insurance
Claim IntimationIn the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
Submission of DocumentsClaim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
Claim EvaluationOnce the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
Claim SettlementIf claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.
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FAQ About Canara HSBC OBC Term Insurance
What is the maximum policy term under Canara HSBC OBC Life Insurance term insurance plans?
The maximum policy term under the iSelect Star Term Plan is 62 years, except for the whole life coverage where it is fixed at 99 years minus the age of the policyholder at entry. Under the POS Easy Bima Plan, it is 20 years.
When should be the ideal time to purchase a Canara HSBC OBC Life Insurance term insurance policy?
It depends on the situation. Students can go for a term insurance policy when entering college to guard against liabilities like education loans. The perfect time to do so is between 33 to 40 years as it secures your family against financial risks. However, anyone between 18 and 65 years can avail the term insurance policy.
Is there any maximum amount of insurance in the Canara HSBC OBC Life Insurance term insurance policy?
In the case of the POS -Easy Bima Plan, it is Rs 15 lakhs. In the iSelect Star Term Insurance policy, it is Rs 3 crores for Accidental Death Benefit policies and Rs 1 crore for Accidental Total Partial Disability policies.
What is the maximum maturity age in the Canara HSBC OBC Life Insurance term insurance policy?
In the case of the whole life coverage plan, it is 99 years, whereas, for the standard insurance plan, it is 80 years for the maturity of a Canara OBC term insurance policy.
What is the prime benefit of obtaining a Canara HSBC OBC Life Insurance term insurance policy?
The prime benefit available at Canara HSBC OBC is that you can insure your life for a high sum by paying a low premium.