Canara HSBC OBC Life Insurance Company Limited was founded in 2008 and is a partnership between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Ltd (26%), and Punjab National Bank (23%). The company offers easy renewal options if your policy has lapsed over your policy period. Along with helpful agents and customer care service to assist you personally for your renewal, they also provide a secured online platform to initiate your renewal process. In this article, we will discuss the Canara HSBC Life Insurance renewal process and understand the various modes of doing so.Read more
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Canara HSBC OBC Life insurance policies are meant to safeguard the policy holder’s loved ones at times of need and crisis. The policy holder needs to pay the premiums on time so as to avoid lapsation of the life insurance policy. If, under any circumstance, the premiums are missed for over a stipulated time limit, then the policy would lapse after the grace period. Therefore, when the policyholder pays subsequent premiums in order to keep the premium running after or within the grace period, the process is called ‘Renewal of Life Insurance.’
For example, Manoj, a 45 year old non-smoking man, purchased a life insurance policy of sum assured, Rupees 1 Cr, for his loved ones, so that they are secured for the rest of their lives. But, due to certain unavoidable financial restraints, he wasn’t able to pay the premiums for a total of 2 months, due to which his policy lapsed. He was given a grace period of 30 days by the insurance company to renew his policy, after which he paid the outstanding premiums with the estimated interests and renewed it for further continuation.
The two ways to find out the renewal dates of your Canara HSBC OBC life insurance policy are mentioned below:
Visit the company’s website, log in to your account and insert the required details. After submitting, you can check the renewal date of your life insurance policy.
You can call Canara HSBC OBC Life Insurance's customer care unit and talk with a customer care executive. They will send you an email reminding you to renew your life insurance policy.
*Note: The customer care numbers of Canara HSBC OBC Life Insurance are 1800-103-0003/1800-180-0003 (within India) & 0124-4315200 (outside India).
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You can pay the renewal premium of Canara HSBC OBC Life Insurance in both online and offline modes. Here are the methods for Canara HSBC OBC Life Insurance Renewal Process:
Visit the official website of Canara HSBC OBC Life Insurance and go to the ‘My Portal’ site
Once you reach the ‘Online Payment’ page, fill in your Client ID, Policy Number/COI Number and DOB to make the renewal payment
In the payment options, you can choose to pay with Credit or Debit Card (Visa/ Master), or via Net Banking (banks Canara HSBC Life Insurance has tie-ups with)
Fill up the required details of your credit/debit card and submit it
The receipt may be downloaded straight from the company's website once the renewal payment has been processed
Save a print or copy of the receipt number and the premium deposit acknowledgement for future reference
*Note: Canara HSBC OBC Life Insurance renewal also allows online premium payments through third party applications, like Mobikwik and Paytm.
Visit your nearest/any accessible branch of Canara HSBC OBC Life Insurance and carry a cheque payable to Premium Cheque (Canara HSBC OBC Life or Canara HSBC OBC Life Insurance Company Ltd.)
The insurance company will issue you a receipt or acknowledgement of your premium deposit and renew your policy thereafter
You can also locate your nearest branch by using their online branch locator from their official website
For further assistance and information, you can avail the below mentioned facilities provided by Canara HSBC Life Insurance:
CALL: 1800-103-0003/1800-180-0003 (in India) / 0124-4315200 (outside India)
EMAIL: email@example.com (for Indians) & customercare.NRI@Canarahsbclife.in (for NRIs)
SMS/TEXT: CALLBACK to 09779030003
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