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  • June 24,2018
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Life Insurance by Oriental Bank

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  • Introduction

    In our endeavor to provide all financial services to our customers under one roof, the Bank entered into a Joint Venture with Canara Bank and HSBC Insurance (Asia Pacific) Holdings Limited to form Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (CHOICe). Canara Bank (holding 51%) is the majority stakeholder while Oriental Bank of Commerce holds 23% - and HSBC Insurance (Asia Pacific) Holdings Limited, the Asian insurance arm of HSBC, holds 26%.

    Backed by thorough research and a deep knowledge of the local market as well as socio-economic needs of the population provided by OBC, CHOICe has a well diversified portfolio of insurance products and solutions, tailored to the specific needs of the different social and economic strata of the society.

    We at Oriental Bank of Commerce, acting as a Corporate Agent for CHOICe, aim to provide complete insurance solutions to our customers with competitive products, lower charges and prompt and efficient service.

     

    Why Choose Canara HSBC Oriental Bank of Commerce Life Insurance?

    • It brings together the market knowledge of two of the biggest and most experienced Public Sector Banks in the country with the insurance experience and bancassurance knowledge of HSBC to create one of the fastest growing Life Insurance companies in India
    • The Company is the fastest Indian life insurance company to cross ₹ 500 Cr, ₹ 1000 Cr, ₹ 1500 Cr and ₹ 2000 Cr in weighted premium income till date*.
    • The Company through its prudent investment strategy has demonstrated consistent fund performance, exceeding benchmarks across all funds.
    • The Company's total capital base currently stands at ₹ 950 Cr (as on 31st January 2016).
    • Its diverse product portfolio offers insurance solutions to all customer segments, with products having a premium requirement of as low as ₹ 6,000 per year to products with no cap on maximum premium.
     

    Awards and Accolades

    • The company won the "Golden Peacock Award for Corporate Ethics" - 2016
    • The company was awarded the "Most Trusted Financial Brand 2016" award amongst the top 50 brands in India
    • The company is conferred with "The Economic Times Best BFSI Brands 2016" award in the Life Insurance category
     

    Company Head Office - Canara HSBC OBC Life Insurance Company Ltd,
    2nd Floor, Orchid Business Park, Sector - 48, Sohna Road,
    Gurugram - 122018, Haryana, India.

    http://www.canarahsbclife.com

    Call Center :1800-103-0003/1800-180-0003 (MTNL/BSNL) Monday to Friday - 8:00 AM to 8:00 PM Saturday - 9:00 AM to 6:00 PM

    SMS 97790-30003

    Email ID - customerservice@canarahsbclife.in

    Registered Office - Unit No.208, 2nd Floor, Kanchenjunga Building, 18 Barakhamba Road, New Delhi - 110001, India

  • Products Offered

    Canara HSBC OBC Life Insurance Company Ltd. offers a variety of Insurance plans aimed at securing the future of our customers while ensuring adequate returns on the investment made by them.

    Choose a plan as your need:

     
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      Child Future

      Child plans are developed on the concept of providing financial support to the family for the child's future if the parents meet with an unfortunate death.

      Choose a plan as per your need

      • Smart Junior
      • Smart Future Plan
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      Smart Junior plan provides Guaranteed* payouts during the last 5 years of policy which can be aligned to child's educational milestones. Further, the plan also provides Annual bonuses and Final bonus, if any, on maturity

      Key Benefits :

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        Comprehensive Protection

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        Limited Premium Payment & Flexible Policy Term Options

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        Guaranteed* Lumpsum Payouts

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        Annual Bonuses# & Final Bonus (If Any) On Maturity

      •  

        Higher Sum Assured Rebate

      *Guaranteed lumpsum payouts will be made in last 5 policy years provided all premiums are paid as and when due.
      #Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus, if any, once added, will be guaranteed.

      Plan early to keep up with your child's changing dreams

      Canara HSBC Oriental Bank of Commerce Life Insurance Smart Junior Plan Individual Non-linked participating limited premium payment endowment life insurance plan.

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      Our Smart Future Plan is a unit linked plan that provides long-term investment opportunity to fulfill various family needs like building a asset or to ensure for a bright future for your child. Its comprehensive insurance cover (Sum Assured on death and Premium Funding benefit on death or disability) ensures that your plan for your family continues unaffected, in any unfortunate event.

      Key Benefits :

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        Family Protection

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        Safeguard Funds Near Maturity

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        Optimize Returns

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        Accessibility To Funds

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        Tax Benefits*

      #Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.

      Plan early to keep up with your child's changing dreams

      Canara HSBC Oriental Bank of Commerce Life Insurance Smart Junior Plan Individual Non-linked participating limited premium payment endowment life insurance plan.

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      Saving & Investments

      Savings and Investment plans allows you to create wealth for future and also offers comprehensive life coverage at the same time.

      Choose a plan as per your need

      • Jeevan Nivesh Plan
      • Money Back Advantage Plan
      • Platinum Plus Plan
      • Smart Future Income plan
      • Smart Goals Plan
      • Smart One Pay
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      Jeevan Nivesh Plan is a savings- cum-protection plan that provides life insurance cover and savings in the ease of a single plan.Make a one time investment for a lifetime of regular returns.

      Key Benefits :

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        Lifelong protection up till the age of 100*

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        Guaranteed# maturity benefit equal to 100% sum assured

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        Option toreceive maturity sum assured as annual payouts for 15 years with 5% increase every year**

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        Choice of flexible policy terms and premium payment terms

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        Tax benefits##

      Applicable only under the endowment with Whole Life Cover.
      #Conditions Apply – Provided all due premiums are paid as and when due.
      **This option is available under only Endowment option.
      ##Tax benefits under this plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor
      #

      This is a traditional savings cum protection oriented, non-linked, participating, limited premium payment endowment product. This product provides guaranteed money back payouts during the policy term along with guaranteed lump sum on maturity and bonus(es) which can be utilized by the customer to fulfill various planned milestones.

      Key Benefits :

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        3 Gauranteed* Money Back Payouts in the Policy Term

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        Guaranteed* Maturity Benefits equal to 55% of Sum Asured

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        Policy Term of 16 years

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        Limited Payment Term of 10 years

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        Tax Benefits*

      *Conditions Apply - Guaranteed Money Back Payouts and Guaranteed Maturity Benefits will be payable provided all premiums are paid as and when due.
      **Tax benefits under this plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.
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      Our Platinum Plus Plan can help you provide the maximum mileage on your investment. It is a unit linked investment cum protection plan which you can customize as per your goals and changing requirements. This plan provides you unmatched flexibility and letting you to have full control over your investment in any market movement.

      Key Benefits :

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        Flexible Payment
        Term Options

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        Investment
        Management Options

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        Loyalty Additions &
        Wealth Boosters

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        Partial Withdrawal
        Facility

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        Fund Switching &
        Premium Redirection

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      As you grow in the journey called Life, you would surely like to have a companion who enables you to enjoy the finest lifestyle, meet aspirations of your loved ones and create a legacy for your loved ones, without really having to worry about the finances. We understand your needs as you move towards the golden years of your life. Therefore, we take pride in presenting our Smart Future Income Plan, which will help you GALLOP in financial planning for life with complete peace of mind.

      Key Benefits :

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        Guaranteed*
        Monthly Income

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        Lump Sum Benefit

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        Guaranteed* Protection

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        Loan Available

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        Tax Benefits#

      *Conditions Apply - Monthly Incomes are guaranteed only if premiums are paid as and when due, provided the Life Assured is alive.
      #Tax Benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.
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      Our Smart Goals Plan with its flexible features has been designed to help you plan your financial requirements so that you have the means to fund your goals, with no compromises. Your future is defined by your goals for yourself and your loved ones. You would like to ensure that nothing comes in the way of achieving these goals - buying the perfect house for your family or enrolling your child in a college abroad. Whatever be your goal, you would not want to compromise financially for any of these important milestones in your life.

      Key Benefits :

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        Flexibility

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        Loyalty Additions

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        Auto Funds Rebalancing

      •  

        Safety Switch Option

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        Tax Benefits#

      *Tax Benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.
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      Our Smart One Pay Plan is a single premium unit linked non-participating endowment insurance plan. This plan helps you meet your protection and investment needs and aims to generate wealth by investing in the funds of your choice along with provision of life cover. This plan gives you the ability to pay only once, that is, a single premium at the beginning of your policy and provides you life cover throughout the policy term as chosen by you.

      Key Benefits :

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        Wealth creation along with life coverage

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        One time investment with Tax Benefits*

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        Stay invested in desired funds through Auto Rebalancing option irrespective of market movement

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        Potential safeguard of funds near maturity with Safety Switch Option

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        Loyalty Additions from 6th policy year onwards

      *Tax Benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.
    •  

      Retirement Planning

      Retirement plans lets you allocate a part of your savings to accumulate over a period of time and provide you with steady income after retirement.

      Choose a plan as per your need

      • Secure Bhavishya Plan
      • Jeevan Nivesh Plan
      • Samridh Bhavishya Plan
      • Smart Lifelong Plan
      • Smart Immediate Income Plan
      • Smart Future Income plan
      #

      Secure Bhavishya Plan, a product that provides the benefit of equity participation to potentially enhance your retirement corpus, and at the same time offers 'capital protection' to your retirement corpus. In today's active working life, you do your best for your loved ones but at the same time you also need to plan for your own future. Investing in a pension plan is a wise decision, in order to build-up a retirement corpus that can be used to provide a steady post retirement income.

      Key Benefits :

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        Guaranteed* Maturity (Vesting) Benefit

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        Choose Premium Payment Term

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        Loyalty Additions Term

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        Flexibility to Select Maturity (Vesting) Age

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        Unlimited Top-Ups Facility

      *Conditions Apply - Provided all premiums are paid as and when due.
      #

      Jeevan Nivesh Plan is a savings- cum-protection plan that provides life insurance cover and savings in the ease of a single plan.Make a one time investment for a lifetime of regular returns.

      Key Benefits :

      •  

        Lifelong protection up till the age of 100*

      •  

        Guaranteed maturity benefit equal to 100% sum assured

      •  

        Option toreceive maturity sum assured as annual payouts for 15 years with 5% increase every year**

      •  

        Choice of flexible policy terms and premium payment terms

      •  

        Tax Benefits*

      *Applicable only under the endowment with Whole Life Cover.
      #Conditions Apply – Provided all due premiums are paid as and when due.
      **This option is available under only Endowment option
      ##Tax benefits under this plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor
      #

      Our Samridh Bhavishya Plan provides you annuity installments throughout your lifetime, thereby ensuring that you enjoy your post retirement years the way that you want to. As you near your retirement, the most important thought in your mind would be to lead a secure and comfortable life as always, without any dependence on others. Everyone loves financial independence, to enjoy and live a worry free and comfortable lifestyle.

      Key Benefits :

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        Guaranteed* Lifetime Income

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        Choose Between Single & Joint Life Annuity

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        Choose Hassle-free Certain Annuities

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        Choose Annuity Installment Frequency

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        Attractive Annuity Rates

      *Guaranteed here mean that annuity payout is fixed once the policy has been purchased

      Live an uncompromised life with guaranteed income plan

      Canara HSBC Oriental Bank of Commerce Life Insurance Samridh Bhavishya - An Individual Non Linked Non Participating Immediate Annuity Plan.

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      Our Smart Lifelong plan has been designed to help you fulfill your responsibilities so that through life you can grow in the right direction by making the right choice. Life is all about the choices you make to fulfill your responsibilities. And with every choice you make your biggest concern is whether you have taken the right decision.

      Key Benefits :

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        Life Long Protection

      •  

        Loyalty Additions

      •  

        Auto Funds Rebalancing

      •  

        Fund Options

      •  

        Tax Benefits*

      *Tax Benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.
      #

      Smart Immediate Income Plan ensure a regular guaranteed income stream post retirement. It provides you annuity installments throughout your lifetime, thereby ensuring that you enjoy your post retirement years the way that you want to.

      Key Benefits :

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        Guaranteed lifetime income

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        Family gets the safety net in case of unfortunate demise

      •  

        Single life & Joint life annuity options are available

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        Flexibility to choose annuity instalment frequency

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        Benefit of higher annuity instalment for large purchase price

      #

      As you grow in the journey called Life, you would surely like to have a companion who enables you to enjoy the finest lifestyle, meet aspirations of your loved ones and create a legacy for your loved ones, without really having to worry about the finances. We understand your needs as you move towards the golden years of your life. Therefore, we take pride in presenting our Smart Future Income Plan, which will help you GALLOP in financial planning for life with complete peace of mind.

      Key Benefits :

      •  

        Guaranteed* Monthly Income

      •  

        Lump Sum Benefit

      •  

        Guaranteed* Protection

      •  

        Loan Available

      •  

        Tax Benefits*

      *Conditions Apply - Monthly Incomes are guaranteed only if premiums are paid as and when due, provided the Life Assured is alive.
      #Tax Benefits under the plan will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.
    •  

      Protection Plans

      Protection Plans are specially designed to provide full protection & financial stability to your family in case of any unforeseen events.

      Choose a plan as per your need

      • Smart Suraksha Plan
      #

      Our Smart Suraksha Plan is a term insurance plan which provides coverage against untimely death helping you secure your family’s financial future. Additionally, you also have the option to cover against accidental death and total permanent disability caused due to accident. This Plan is ideal for those who would want to protect their family’s future and wish to secure their family’s financial requirements even in their absence.

      Key Benefits :

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        Affordable Life Insurance

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        Cover Options (Accidental Death/Disability)

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        Flexible Policy Term

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        Easy Claims Process

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        Reward For Healthy Lifestyle

  • Policy Servicing Forms

    To make any changes in the policy, please visit the nearest branch or CHOICe office with a form duly signed by the policy holder/ assignee (if the policy is assigned) along with necessary additional documents (if required). You may also login to your account on www.canarahsbclife.com to access or modify your policy details

    Click on the form to download

     
  • Need of Life Insurance

    How Much Life Insurance Do You Need?

    Often, the amount required to completely cover a life is misunderstood and hence miscalculated. Various factors like current age, current income and present inflationary trends come into play while determining the actual amount of life insurance required by an individual.

    Make use of this simple tool to analyse your life insurance requirement

     

    Find Out How Much Life Insurance You Need

    Tell us your age
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    Already insured for
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    Your annual income
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    Your ideal Life Insurance Cover is
    Rs. 10,00,00,000

    Get Insured Now
  • Mandatory Disclosure

    Mandatory Disclosure

    The Insurance products are offered and underwritten by Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (IRDAI Regn. No. 136) having its head office at 2nd Floor, Orchid Business Park, Sector-48,Sohna Road, Gurugram - 122018, Haryana (India). The Bank is a Corporate Agent of Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd. holding certificate no. CA0025 and does not underwrite the risk or act as an insurer.“

     
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