Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was commenced in insurance business in June 2008 . It is a Joint Venture between Canara Bank (holding 51%), HSBC Insurance (Asia Pacific) Ltd (holding 26%) and Oriental Bank of Commerce (holding 23%). The accessibility to local market and customer base of Canara Bank and Oriental Bank of Commerce joined with the substantial insurance experience, product range and proven bancassurance capabilities of HSBC, make this joint venture company an unparalleled union of financial strength, expertise and most importantly Indian customer’s trust. The company as has an exclusive access to around 60 million customers and a network of 5300 bank branches of its corporate agents.

In just 4 years of its business operation, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited , has achieved many milestones on its way. The Company is the fastest Indian life insurance company to cross Rs 500 crore and Rs 1000 crore in weighted premium income till date and it also has the highest average premium per policy in the industry for individual business since launch.

The strength of the , Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited, business operations is— a highly IT-enabled business model and policy administration system. This has enabled company in providing higher quality services, faster policy issuance and rapid claims settlements . The Company has a call centre at the Head Office in Gurgaon , Haryana that caters to the diverse needs of its customers and has a capability to handle calls in 10 different languages. To provice affordable insurance solutions to deal with the needs of the rural populationof india , the Company has tied up with three Rural Regional Banks (RRBs) – Pragathi Gramin Bank in Karnataka and Shreyas Gramin Bank in Uttar Pradesh in December 2009 and South Malabar Gramin Bank in June 2010

List of insurance products offer by Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited, is given below:

Products

A) Individual Life Insurance Plans

Grow Smart Plan : A unit linked insurance plan which provides customer protection for life and financial support for long term goals

Dream Smart Plan : This is a unit linked insurance plan for a fixed period of 20 years that provides long term savings opportunity along with life cover

Secure Smart Plan : This plan provide the dual benefit of Saving & Protection for loved ones. In this plan, the customer is covered for a fixed period of 15 years with Guaranteed Sum Assured and Additions with every premium paid.

Pure Term Plan : A Pure Term life Insurance Plan guarantee financial protection for families of insured , when he/she is no longer around with their family.

Future Smart Plan : This is a unit linked insurance plan which provides long-term investment opportunity to build a bright future for child. Its comprehensive insurance cover
ensures that child’s future continues unaffected, in any unfortunate event

Insure Smart Plan : This is also a unit linked insurance plan where one can choose to invest in NAV Guarantee Fund that offers a guarantee of the highest NAV at maturity. The customer also have the option to invest non-guaranteed funds as per their investment needs

B) Group Life Insurance Plans

Group Loan Protection Plan : This is an insurance plan that pays a lump sum to meet your customer’s loan outstanding amount in the unfortunate event of his/her death or total and permanent disability (if opted for).

Group Term Plan : The Group Term Life Insurance Plan is the ideal plan to provide financial protection and pure protection cover to customer group at a very low cost.

Group Traditional Plan : This is a traditional non-linked insurance plan caters to the needs of employers to fund their group member’s retirement and other welfare benefit schemes.

Corporate Group Term Plan : The Corporate Group Term Plan is an annually renewable group term assurance plan. This plan helps the employers to provide life cover to employees
& their families at a low cost thus helps to secure employees peace of mind.

Smart Sanchay Plan : Smart Sanchay is a life insurance plan combined with the benefits of a savings account. It helps the customer to grow wealth with a guaranteed rate of return while ensuring that loved ones are financially secure in case of death of the insured

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited offer simple and best insurance products to its customers by leveraging in-depth research, modern technology and easy processes from issuance of policy to claim settlement.

Contact us for today for detailed information on Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited.

Contact Address
Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd,
Unitech Trade Centre, 2nd Floor,
Sushant Lok, Phase-1, Sector-43,
Gurgaon – 122 002
Haryana, India
Website: www.canarahsbclife.com

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