Key Advantages
Income Stream
Multiple plan options offer regular income to take care of both long-term and short-term financial goals
Guaranteed Regular Income
Guaranteed regular income up to 99 years of age to meet retirement expenses1
Assured loyalty Additions3
Assured Loyalty Addition(s) is the additional benefit accrued on each monthly Policy Anniversary in the last 5 years of the Policy Term
Protect your dream, even in case of adversity
Premiums will be waived and income will be paid as planned in case of death or Accidental Total & Permanent Disability (ATPD) of the life assured with Guaranteed Income and Guaranteed Long-term Income options.
Flexibility in Plan
Choose from multiple income frequencies like Annually/Half Yearly/Quarterly/Monthly.
Our Achievements
Life Insurance Company
of the Year 20204
At India Insurance Summit and Awards 2020, Mumbai
Assets under Management
₹20,5865 crores as on 31st Jan 2021
Hassle-free Claims Process
98.12% Individual death claims6 settled in FY 2019-2020
Here’s What Our Customers Say about Us
When this year I had a monetary problem in the family I had to withdraw part payment, the customer service team told me it will take 7 days but it only took 3 days. This made me really happy that I took this policy.
Mrs. Renuka Shetty
Promise is all about faith. My family has faith in me. Similarly, I have faith that Canara HSBC Oriental Bank of Commerce Life Insurance will help me protect my family even in my absence.
Mr. Piyush Kant
A promise is a thing of faith. With Canara HSBC Oriental Bank of Commerce Life Insurance, we are confident that we will be able to keep our promises to each other.
Mr. & Mrs. Manna
With Canara HSBC Oriental Bank of Commerce Life Insurance, I will not only meet the financial requirements for my daughter’s wedding but also for various other life goals.
Mr. Shushanta Kumar Sengupta
A promise has to be fulfilled. We had promised our son to send him abroad for education. We sent him there and fulfilled our promise. He also returned to India after completing his education as he had promised. Canara HSBC Oriental Bank of Commerce Life Insurance helped us fulfill our promise with Child Future Plan.
Mr. & Mrs. Surve
The customer service staff always gives a quick response. Usually, we get a personal message within 5-10 minutes of the query. Also, Canara HSBC Oriental Bank of Commerce Life Insurance has done systematic management of investments, which helps our money to grow.
Mr. Kataria
Keeping my promises is a priority for me. Canara HSBC Oriental Bank of Commerce Life Insurance has ensured that my second innings will be as beautiful as my first.
Mr. CY Ajgaonkar
Frequently Asked Questions
1. What are the payment options under Guaranteed Income4Life?
Guaranteed Income4Life is a highly customisable life insurance plan that offers various flexibilities in terms of premium payment. You can choose to pay premiums Annually, Half Yearly, Quarterly, Monthly depending on your preference.
2. What are the Death Benefits of Guaranteed Income4Life?
The nominee will receive the Sum Assured on Death in addition to accrued Assured Loyalty Addition(s), if any, in case the Life Assured dies during the policy term if Premium Protection Cover is not opted.
With the Premium Protection Cover option, the nominee will receive Sum Assured in case of demise of the policyholder. On maturity, regular income based on the income period and income frequency selected shall be payable.
3. Are accident induced disabilities covered in the plan?
Accidental Total and Permanent Disability (ATPD) Benefit is offered, during policy term (Single Life), if Premium Protection Cover (PPC) is chosen. In such a scenario, all future premiums are waived off with all the benefits accruing as if the policy was in-force. Additionally, maturity benefit paid as regular income payouts during income period and as per policy chosen
In case of subsequent death of life assured during Policy Term
- Sum Assured on Death will be paid
- Policy will continue as if it was in-force with all future benefits accruing as before
- On maturity, Regular Income based on Income Period and Income Frequency selected will be payable
4. What is the length of income period of this plan?
The length of income period varies according to the option that you choose while buying Guaranteed Income4Life.
5. Is Guaranteed Income4Life an ideal savings instrument?
Yes. Guaranteed Income4Life is a life insurance cum savings plan that offers maturity benefits, which is paid out to you as guaranteed income in frequency chosen by you while opting for the plan. You can build a corpus that will be returned. You can save for the rainy days well ahead to protect your loved ones and yourself.
6. What are the factors to be considered before buying this plan?
Guaranteed Income4Life is a non-linked non-participating individual life insurance savings cum protection plan that offers guaranteed benefits. Here are a few factors that must be taken into account before buying this plan:
- Policy term
- Payout period and Payout frequency
- Guaranteed regular income
- Waiver of premium on Accidental total and permanent disability or death
- Assured loyalty additions
- Limited premium payment term
- High premium booster
- This feature is available with Guaranteed Life-Long Income plan option
- This feature is available with Guaranteed Income and Guaranteed Long-term Income plan options
- Assured Loyalty Addition(s) is the additional benefit accrued on each monthly Policy Anniversary in the last 5 years of the Policy Term, provided all due premiums till that month’s Policy Anniversary have been paid. The Assured Loyalty Addition(s) at a particular monthly Policy Anniversary, for a limited pay policy, is equal to [1.5% X Annualized Premium X Lower of (PPT or Policy Year)] and the Assured Loyalty Addition(s) at a particular monthly Policy Anniversary, for a single pay policy, is equal to [1.5% X Single Premium].
- Canara HSBC Oriental Bank Of Commerce Life Insurance Company has won “Life Insurance Company of the Year” at India Insurance Summit and Awards 2020 held in Mumbai on 13th March 2020. The award exhibits Company’s endeavor in building business on trust, while offering insurance products which are aligned to the objectives of creating “Value for Money” for customers and by “treating them fairly”.
- As reported in public disclosures on 31st Jan 21 as per company factsheet.
- Individual death claims settled and reported in public disclosures for FY 2019-20.
- Purchase of any insurance products by a bank's customer is purely voluntary and is not linked to availment of any other facility from the bank.
- Tax benefits/savings are subject to provisions under section 80 C, 80 CCC, 80 D, 10(10A), 10(10D) and other sections of the Income Tax Act, 1961. The provisions of Income Tax Act, 1961 are subject to amendments made by the government from time to time. Goods & Services Tax will be charged on the premium amount. Please consult your independent tax advisor for details.
- Maturity Benefit is paid in the form of Regular Income at the end of every month/ quarter/ half- year/ year, after the policy term, as per the chosen Income Frequency and over the chosen Income Period.
- The maturity benefit is calculated for a 30 years old healthy male life who has opted for Canara HSBC Oriental Bank of Commerce Life Insurance Guaranteed Income4Life with Guaranteed Income option, annual premium Rs. 1,08,000 (excluding taxes), premium payment term 10 years and policy term 15 years with deferment period of 5 years. The maturity benefit is Rs. 2,43,114 paid annually for 10 years. T&C apply.
- Maturity Benefit is paid in the form of Regular Income at the end of every month/ quarter/ half- year/ year, after the policy term, as per the chosen Income Frequency and over the chosen Income Period. The maturity benefit is calculated for a 30 years old healthy male life who has opted for Canara HSBC Oriental Bank of Commerce Life Insurance Guaranteed Income4Life with Guaranteed Income option, annual premium Rs. 1,60,000 (excluding taxes), premium payment term 10 years and policy term 15 years with deferment period of 5 years. The maturity benefit is Rs. 30,014 paid monthly for 10 years. T&C apply.
- Maturity Benefit is paid in the form of Regular Income at the end of every month/ quarter/ half- year/ year, after the policy term, as per the chosen Income Frequency and over the chosen Income Period. The maturity benefit is calculated for a 28 years old healthy female life who has opted for Canara HSBC Oriental Bank of Commerce Life Insurance Guaranteed Income4Life with Guaranteed Income option, annual premium Rs. 81,000 (excluding taxes), premium payment term 10 years and policy term 15 years with deferment period of 5 years. The maturity benefit is Rs. 15,169 paid monthly for 10 years. T&C apply.
- Maturity Benefit is paid in the form of Regular Income at the end of every month/ quarter/ half- year/ year, after the policy term, as per the chosen Income Frequency and over the chosen Income Period. The maturity benefit is calculated for a 45 years old healthy male life who has opted for Canara HSBC Oriental Bank of Commerce Life Insurance Guaranteed Income4Life with Guaranteed Life-Long Income option, annual premium Rs. 2,55,000 (excluding taxes), premium payment term 10 years and policy term 15 years with deferment period of 5 years. The maturity benefit is Rs. 20,099 paid monthly till 99 years of age is attained. T&C apply.
*COVID-19 claims are subject to terms and conditions of policy and extant regulatory framework.
Trade Logo of Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (Insurer) is used under license with Canara Bank, HSBC Group Management Services Limited and Oriental Bank of Commerce.
The Insurance products are offered and underwritten by Insurer (IRDAI Regn. No. 136) having its head office at Canara HSBC Oriental Bank Of Commerce Life Insurance Company Limited, 139 P, Sector - 44, Gurugram - 122003, Haryana, India.
For more details on risk factors, terms and conditions please read the Sales Brochure carefully before concluding a sale.
Corporate Identity No.-U66010DL2007PLC248825 Website: www.canarahsbclife.com
Call (Toll free no.): 1800-103-0003/1800-180-0003
SMS: 9779030003
Missed Call: 0124-6156600
Email: customerservice@canarahsbclife.in
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• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
