Canara HSBC OBC Life Insurance Company Limited

Canara HSBC OBC Life Insurance Company Limited

Founded in June 2008, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (Canara HSBC OBC life insurance company) is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%), and Punjab National Bank (23%). This joint venture brings out the unique combination of experience, reliability, and proficiency of Canara Bank, Punjab National Bank, and HSBC Insurance.

Canara HSBC OBC life insurance company boasts a vast network with over 20,000 partner bank branches and 40 branch offices spread across India. It offers a broad portfolio of cost-effective insurance products starting from protection plans to investment and savings plans.

The leading insurance company also has a well-establish distribution network in Tier 1, 2, and 3 markets to ensure that they reach a wider audience and cater to their insurance requirements as per their life stages.

Why opt for Canara HSBC OBC Life Insurance?

  • Vast Network:
  • Canara HSBC OBC Life Insurance has spread its branches across all parts of the country to cater to the needs of people belonging to all regions.
  • Variety of Plans:
  • The insurance company offers different plans such that the people can opt for the ideal one as per their requirements in various life stages.
  • Claim Settlement Ratio:
  • Canara HSBC OBC has a high claim settlement ratio of 98.01 (IRDA Annual Report 2019-20), making it a credible insurance partner to buy a term insurance plan.

Benefits of choosing Canara HSBC OBC Life Insurance

  • Canara HSBC OBC Life Insurance policies are eligible for tax benefits under sections 80C and 10 (10D).
  • The policies come with the flexibility to add optional riders.
  • The company offers various life insurance products, including protection plans, ULIPs, traditional plans, and more.

Types of Life insurance products offered by Canara HSBC OBC Life Insurance

  • Term Insurance Plans: Canara HSBC OBC Life Insurance’s term insurance plans come with a whole life cover option till the age of 99 years, securing your family from financial burdens.
  • Saving Plans: The savings plan by Canara HSBC Life Insurance helps to grow your money through multiple avenues using systematic investment plans.
  • Unit Linked Insurance Plans (ULIP): Canara HSBC OBC Life Insurance’s ULIPs help you achieve your goal of creating wealth and having a life cover for your family.
  • Child Insurance Plan: As the name suggests, Canara HSBC OBC Life Insurance’s child insurance plans ensure financial support to your children to achieve their goals whether you are there or even if you are not with them.
  • Retirement Plans: The comprehensive retirement plans by Canara HSBC OBC Life Insurance make you worry-free about inflation and managing expenses in your old age. You just need to plan early and opt for the best one to achieve your retirement goal.
  • Health Insurance Plans: Canara HSBC OBC Life Insurance’s health insurance plans prepare you for tackling medical expenses while ensuring financial security during uncertain times.

 

To know more about Canara HSBC OBC Life Insurance products, you can visit iiflinsurance.com and look through the given information.

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