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Canara HSBC Term Insurance Plans

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Highlights
Claim Settlement Ratio97.10%
Death Benefit Paid For1,252 Policies
Inception2008
Presence9,500 Branches
Total Death Benefit Paid106.53 Crore

Canara HSBC OBC Life Insurance company offers 3 term insurance plans. Canara HSBC OBC term insurance plans are known for providing life cover at a reasonable price. These plans not only provide life cover but also provide financial protection to you family members in case of your unforeseen demise during the policy term. With help of Canara HSBC OBC term insurance plan you can ensure that your family is financially secured in your absence.

Canara HSBC Term Insurance Plans

Canara HSBC OBC has 3 term insurance plans on the anvil for its customers situated across India.

1. Saral Jeevan Bima: Canara HSBC OBC Saral Jeevan Bima is a basic term insurance plan that offers a lump sum payment in case of an unfortunate demise of the life assured during the policy term. This plan protects you against the uncertainties of your life and provides financial assistance to your family so that your family meets their daily expenses. Under this plan you get the flexibility to choose your own policy term, premium term and premium payment frequency.

2. iSelect Star Term Plan: Canara HSBC OBC Life Insurance offers this exciting term plan with a whole life cover option. Besides, it allows you to enhance your life coverage, depending on your changing lifestyles. While offering premium payment options, this term insurance plan comes with features like the return of premium and in-built protection. Income tax benefits are also available as per the prevailing IT laws. Under this plan you can add your spouse in the policy. This plan offers multiple death benefit payout such as lump sum, monthly income or lump sum plus monthly income.

3. POS – Easy Bima Plan: Canara HSBC OBC Life Insurance offers a conventional term insurance plan with riders like double life cover in the event of accidental death. This plan also provides a return of the premium paid on the maturity of the policy. Income tax benefits are also available to customers.

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Choose required coverage to secure your family’s future

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best Canara HSBC Term Insurance Plans

1 Crore
1.5 Crore
2 Crore
2.5 Crore
  • LIFE COVER
    Tax Free
    1 Cr
  • CLAIMS SETTLED 99.01%
Starting From 697/Month
Claim Settlement 4hr Claim Settlement
Key Features:
  • Right Green Tick Annual Health Checkup
  • Right Green Tick Terminal illness
See More Plans

Canara HSBC OBC Term Insurance User Reviews

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What users are saying
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  • An amazing place to buy a term insurance policy. It was a nice experience with the customer service staff of t...

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    Canara HSBC OBC
    By Nisha Yadav
    On: Feb 27, 2024
  • From browsing policies to buying the Canara HSBC OBC Term Insurance- iSelect Star Term Plan, the entire proces...

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    A
    Canara HSBC OBC
    By Ashok Shaliwal
    On: Sep 29, 2023
  • The customer support at InsuranceDekho is top-notch. They answered all my queries promptly and helped me choos...

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    Canara HSBC OBC
    By Sachin Kumar
    On: Sep 25, 2023
  • I had to make a claim on my InsuranceDekho’s Canara HSBC OBC Term Insurance, and I was amazed at how qui...

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    Canara HSBC OBC
    By Shristi Ahuja
    On: Sep 20, 2023
  • The documentation process for InsuranceDekho's Canara HSBC OBC Term Insurance is straightforward and user-frie...

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    S
    Canara HSBC OBC
    By Suman Gupta
    On: Sep 11, 2023
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Canara HSBC Term Insurance Contact Details

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Claim Process at Canara HSBC Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If 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 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.

Find the right Canara HSBC Term Insurance for you