Canara HSBC Oriental Bank of Commerce Life Insurance launches Guaranteed Income4Life plan

Canara HSBC Oriental Bank of Commerce Life Insurance launches Guaranteed Income4Life plan

In a bid to its Guaranteed Savings portfolio Canara HSBC Oriental Bank of Commerce Life Insurance has launched a new “Guaranteed Income4Life” plan acknowledging the needs of the customers in the given hour. It is a Non-Linked, non-Par Individual Life Insurance Savings cum Protection Plan which not only offers an individual the opportunity to secure his/her life but also allows one to have regular income to take care of both long-term and short-term financial goals.

Anuj Mathur, Managing Director & Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance says, “Every individual seeks for a secured life and financial stability especially to safeguard their family from the unforeseen circumstances.  Understanding this imperative need of our potential customers and to delight our existing ones, we have come up with a new product- Guaranteed Income4Life, in this New Year. We believe this plan will be lauded by the customers and help them meet their financial goals with ease when interest rates on other financial instruments are bare minimum at the moment.”

Akshay Dhand, Appointed Actuary, Canara HSBC Oriental Bank Of Commerce Life Insurance adds, “Guaranteed Income4Life is our fourth product in guaranteed products portfolio and is one of our hallmark product because of its sound offering amid such uncertain time and market movements. The product has been specially designed to offer life insurance coverage and benefits of a savings product under one umbrella. A highly flexible plan which gives customers an option to choose from various payment terms starting from monthly, quarterly, half yearly to annually with a fixed income frequency as per discretion of the customer.”

Also Read: Why to Buy Life Insurance Early

Key benefits that ‘Guaranteed Income4Life’ offers:-

  • Protection: Ensure financial protection for your family in case of eventuality
  • Guaranteed Benefits: All the policy benefits are upfront guaranteed at start of the policy
  • Income Payouts: Maturity proceeds are paid in form of Regular Income to take care of the recurring expenses
  • Income to safeguard your child’s future: With Premium Protection Cover Option, in case of an eventuality, further premiums are waived and income will be paid as planned
  • Flexibility in plan: Regular Income can be annual/ semi-annual/ quarterly/ monthly – the way you want. In case required, take the discounted value of your future Regular Income at any time
  • Tax Benefits: As per applicable laws

Also Read:- Women and Insurance: Time to cut that gap

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