Everything You Need To Know About iNVESTSHIELD Plan From Canara HSBC Oriental Bank of Commerce Life Insurance
Canara HSBC Oriental Bank of Commerce Life insurance company limited is a trio of three leading banks including two of the largest public sector banks (Canara and Oriental Bank of commerce) of India and HSBC Insurance (Asia Pacific) one of the leading Asia’s leading insurance company. Canara Bank (holding 51%) and Oriental Bank of Commerce (23%) – and HSBC Insurance (Asia Pacific) Holdings Limited (26%). This company was established in June 2008. Presently the Company has more than 60 million customers and a pan-India network of over 8000+ offices of Canara Bank, HSBC and Oriental Bank of Commerce. According to reports the company has gained more than INR 23.5 Crore in FY 2012-13, in its 5th year of operations. Company’s claim settlement ratio of 89.58% for the year 2014-2015. The company has achieved many milestones in recent years, therefore they got many awards in previous years including Times “Dream Company To Work With”, Economy Times best BFSI Brand 2016 and much more.
Recently the company has launched a new insurance product keeping requirements of an Individual in mind Canara HSBC Oriental Bank of Commerce Life Insurance launched a new ULIP insurance product “iNVESTSHIELD” which is designed to meet the needs of present and future.
#iNVESTSHIELD is an online ULIP plan which is designed to provide a hassle free and convenience service to customers who are willing to buy insurance online. It offers 3 benefit option
- Life option
- Life option with Accidental Death Benefit (ADB)
- Life option with Premium Funding Benefit (PFB)
iNVESTSHIELD will give the customer flexibility of multiple funds depending upon their requirements and they can also switch between different funds with a systematic and easy to understand Investment system.
Company CEO Mr. Anuj Mathur says, we have launched this plan for helping investors in wealth accumulation and providing protection to investor’s family, this plan is a must for young parents as in case if something wrong happens with the investor, the policy has a feature of continuity without paying any future premiums. With this plan Company increase their online presence providing investors and easy and online solution for buying and managing the insurance.
For further details go to www.canarahsbclife.com
Key Benefits of Canara HSBC Oriental Bank of Commerce Life Insurance iNVESTSHIELD Plan
• Flexibility to customize the plan as per one’s need
• Zero Premium Allocation Charge throughout the premium payment term of the Policy
• Loyalty Additions for additional allocation of units to boost the retirement fund
• Choice of Investment Funds ranging from 0% to 100% equity exposure, to match one’s risk appetite
• Premium waiver benefits option which helps the parents to plan a secure future for their children.
• Safety Switch Option enables one to move funds systematically to a relatively low-risk Liquid Fund to avoid market movements in the last four Policy years
• Liquidity through partial withdrawals to help meet unplanned financial needs
• Tax benefits on premium paid and benefit received during Policy term under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time