Canara HSBC was launched on 16th June 2008 as a venture between Canara Bank holding 51% of the company, HSBC Bank holding 26% of the company and Oriental Bank of Commerce with 23% of the holding.The company has a combined experience of the three founding banks of over 300 years in the financial sector of India. The business strategy followed by them testifies their understanding of the market especially when it comes to looking for a bank partner or scaling up their bancassurance channels.
Term plans promise the insured a lump sum benefit which will be payable to his nominee if the insured dies any time during the term opted by him. If the plan completes the specified term, no benefit will be payable to the policyholder under this type of insurance plan. These plans cover only the risk of death or the mortality risk of any individual and as such are sold at minimal premium rates making them poular among customers.
If a plan which costs very little but pays a higher amount of money in terms of crisis, won’t it be popular? Term life insurance plans, whether they are popular or not, are a very important part of our financial planning process because they provide aid during those rainy days where the family needs a financial cushion to soften the blow of the death of the bread-winner. Being cheap in nature, these plans are easily affordable and promise good benefits.
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
Canara HSBC currently offers only one type of Term Insurance Plan called the eSmart Term Plan. The plan offers various features and benefits to the policyholder at very cheap rates. Let us take a detailed look at the plan
A traditional term insurance plan which can be bought online. The features and benefits of the plan are as follows:
|Entry Age||18 years||70 years|
|Maturity Age||-||75 years|
|Policy Term (in multiples of 5 years)||5 years||40 years|
|Premium Payment Term||Equal to policy term|
|Premium Payment Frequency||Yearly|
To know about other life insurance plans check at Canara HSBC OBC Life Insurance
For the online payment mode, the policyholder can pay via;
Alternatively, you can contact toll free: customer care toll free number 1800-103-0003 or 1800-180-0003 (MTNL/ BSNL) to inquire about the policy status.
You can send an SMS to 09779030003 to inquire the policy status as well.
Step1: Enter your Client ID and Date of Birth to login into e-portal
Step2: Choose the policy for which you want to pay
Step3: Select the payment option – Debit/Credit Card or Net Banking to pay
Step 4: Upon successful payment completion print/save the premium deposit receipt
Alteranatively, you can pay via cash/cheque at any of the nearest branch.
Call Toll free: 1800-103-0003 or 1800-180-0003 (MTNL/ BSNL) to inquire on how to pay offline.
Call toll free number: 1800-103-0003 or 1800-180-0003 (MTNL/ BSNL) to know more.