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Best Saving and Investment plans of Canara HSBC OBC Life Insurance Company

Company Overview:

The vast joint conglomerate of Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was unveiled in 2008 with two public sector banks Canara Bank holding a stake of 51% and Oriental Bank of Commerce 23% respectively, with HSBC Insurance (Asia Pacific) Holdings Limited (26%), the Asian insurance arm of one of the world’s largest banking and financial services group – HSBC. With this launch, the company gained access to a pan-India network of over 10,000 branches of bank partners and a customer base of over 115 million.

Policy Model:

Since inception, the focus of Canara HSBC OBC Life Insurance Company Limited has been to meet the diverse needs of the customers during their life cycle. The financial strength, expertise and “Trust” brought in by the partners have resulted in designing an inclusive product suite that facilitates penetration across urban, semi-urban and rural markets. The plethora of plans ensure guaranteed lifetime income, savings for the education of children, marriage and other similar important family events and lastly, assured retirement buildup.  These plans offer comprehensive protection and savings through guaranteed endowment and customized solutions for discerning individuals. They offer both online and offline modes of purchase,

Category of Plans:

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited offers a spectrum of plans that are broadly categorized into three, with several variants in each:

  • Traditional
  • ULIP and
  • Online.

Best Savings and Investment Plans:

Of the variety of plans on offer by the Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited, let us limit our focus on the best savings and investment plans. In the Life Insurance scenario, if you are looking for the fundamental safety of your investment and are satisfied with conservative returns of your savings, it is traditional policies you are looking for. Else, if you are a bit adventurous and ready to play with the market forces for your returns, ULIP should be your choice.

  • Canara HSBC Oriental Bank of Commerce (OBC) Life Insurance Jeevan Nivesh Plan:

It is a savings plan that offers you whole life protection and generation of wealth. It demands a onetime investment assuring a lifetime of regular returns. You are enabled to strategize your future finance, be it your child’s education, marriage or your own retirement with peace of mind.

  • Canara HSBC Oriental Bank of Commerce Life Insurance  Money back Advantage Plan:

It is a plan that assures periodic payouts as well as lump sum payment on maturity. It caters for your various planned milestones to meet aspirations. 

  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart Junior Plan:

As a parent, it is your cherished desire to let your children have the best education in consonance with his potential and ambitions. This plan is tailor-made for your needs. It is an endowment life insurance plan that allows your child to access the best educational avenues which you have planned in advance. It is so designed that the payouts are matched with your child’s milestones during the last 5 years of the policy.

  • Canara HSBC OBC Life Insurance POS (Easy Bima Plan):

It is a term life insurance that is affordable but at the same time ensures protection of your family. It offers double life cover in case of accidental death and allows you the option of flexible premium payment.

  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart Suraksha Plan:

You are offered protection with life insurance cover as well as an option against accidental death and disability. Incentives in the form of low premium for non-smokers or users of tobacco, rebate for women customers make this plan unique.

  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart Future Income Plan:

You are offered some unique features for advance planning of your twilight years. You are provided with a guaranteed monthly income for 15 years to enable you to lead a blissful life. Annual and Final Bonuses give you a lump sum reserve of money. You are additionally given a life cover of twenty five years.

  • Canara HSBC OBC Life Insurance Smart Monthly Income Plan:

Your journey in life will lead you to a stage where you will long to live a peaceful comfortable life. Your advance planning with this plan will ensure that you achieve what you have aspired for without worrying about your finances.

This plan offers you basket of benefits including a Guaranteed Monthly Income for 15 years, coupled with a lump sum legacy for your loved ones. It will cover your life risk for 25 years.

  • Canara HSBC Oriental Bank of Commerce Life Insurance Samridh Bhavishya Plan:

It is a retirement plan that helps you plan for finances post retirement. The plan safeguards a regular income throughout your life commencing with your retirement. It provides an option for you or your partner to receive regular payments till death. You are also offered flexibility to fix periodicity to receive annuity payments.

  • Life Insurance Smart Immediate Income Plan of Canara HSBC Oriental Bank of Commerce:

It is a retirement benefit plan that assures post retirement regular income in the form of annuities paid in installments till you are alive. It ensures that you lead an independent blissful existence in the dusk of your life along with your partner who too is covered. It allows you the flexibility to choose the frequency of the annuity payout.

  • Canara HSBC Oriental Bank of Commerce Life Insurance Titanium Plus Plan: It is a Unit Linked Insurance Plan yet savings and protection oriented. You have an option of single, limited or regular premium in this plan. Other options are partial withdrawals to meet financial contingencies. You are offered unmatched flexibility customized to maximize your returns.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Platinum Plus Plan: It is a protection oriented Unit Linked Insurance Plan. You have multiple options of single, limited or regular premium and also facility of partial withdrawals to meet unplanned financial contingencies. You are offered unmatched flexibility customized to meet your goals and changing requirements.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart Future Plan: It is a Unit Linked Insurance Plan where you choose terms of both policy and premium as per your earning capacity. It is a long term flexible plan designed to provide for your family in all eventualities.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart Goals Plan: It is a flexible Unit Linked Insurance Plan which helps you plan your financial roadmap which enables you to fund your goals without cutting any corners.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart Goals Plan: It is a Unit Linked Insurance Plan which helps you with life cover up to 99 years of age as you also build your wealth along.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Secure Bhavishya Plan: It is a retirement benefit Unit Linked Insurance Plan which helps you to build, enhance and protect your retirement corpus through judicious equity participation. It offers a retirement solution for a retired life free of tension.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Smart One Pay Plan: It is a single premium Unit Linked Insurance Plan which helps you to strategize your needs during the different stages of life with periodic payouts.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Insure Smart Plan: It is a Unit Linked Insurance Plan that helps you to create wealth by paying 5 premiums for life cover of 10 years. You are also offered an option in 6 available funds as per your risk inclination.
  • Canara HSBC Oriental Bank of Commerce Life Insurance ShubhLabh Plan: It is a Unit Linked Insurance Plan ensures you the freedom to invest as per your choice and at the same time receive life cover. You are free to set your financial goals be it your retirement or raising a child.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Future Smart Plan: It is designed for your child with features of a Unit Linked Insurance Plan. It ensures that you are able to fulfill your child’s dreams and aspirations even if you are unfortunately not around with a comprehensive cover. 
  • Canara HSBC Oriental Bank of Commerce Life Insurance Grow Smart Plan: It is a Unit Linked Insurance Plan that provides for financial shield for your spouse with a cover for whole life. It is an affordable insurance plan with lifelong cover despite limited duration payment of premium.
  • Canara HSBC Oriental Bank of Commerce Life Insurance Investshield Plan: It is a Unit Linked Insurance Plan that provides for your major financial needs with a choice of additional protection through Accident Death Benefit and Premium Funding Benefit. 
  • Online Plans:

You can choose to purchase a plan with a few clicks if you are computer savvy and prefer online operations. There are plans like Invest 4G and Iselect Term Plan to attract the discerning customer in you. While the former is a Unit Linked Insurance Plan the latter is a Term Plan. Both these plans aim at maximizing returns on your investments while providing you protection with life cover.

Summary:

When it comes to choosing the best Savings and Investment plan offered by the Canara HSBC Oriental Bank of Commerce Life Insurance Company, you are spoilt for choice. With a formidable bouquet of plans, the company is able to woo you with further tailor made customization to make you feel special.