Annual Income (In Lacs)

Key Advantages

Guaranteed Sum Assured on Maturity3

Benefits on maturity through Guaranteed Sum Assured along with Guaranteed Additions, provided all due premiums have been paid.

Premium Protection Offer4

Comprehensive Protection with Premium Protection Option – Sum Assured on Death is paid immediately and future premiums will be waived off in case of death and in addition, policy benefits remain as it is.”

High Premium Boosters

Enhanced guarantees through High Premium Boosters for higher premium commitment. Get better value for the premiums that you pay.

Customise your Savings Horizon

Multiple policy term options to help you select the best suited policy term which is closely aligned to your financial goals.

Flexible Payment Terms

Select your premium payment terms according to your premium payment capacity. Choose how long you would like to pay premium and at what frequency.

Get to Know Us

20000 + Partner Bank Branches

Backed by Canara Bank, Punjab National Bank & HSBC

Assets under Management

At ₹21,9008 crores as per
31st March 2021.

Hassle-Free Claims Process

97.1% Individual death claims9
settled in FY 2020-2021

Life stories of our customers

Frequently Asked Questions

1. What is a Guaranteed Savings Plan?

A Guaranteed Savings Plan is an individual, non-linked, non-participating life insurance savings cum protection plan. From educating your child to plan for their marriage – this life insurance plan can help you in achieving your financial goals as it offers you the flexibility to choose your savings horizon.

2. How much money should I save for a better future?

If you are a working professional, you must maintain a balance between your savings and investments. You may choose a savings plan that offers insurance cover along with guaranteed returns on the premiums.

Before you start saving, you must save 6-9 months of your monthly income to manage any short-term and unforeseen expenses.

3. Can Guaranteed Savings Plan help in saving tax?

Yes. Guaranteed Savings Plan offer tax saving benefits under Section 80C and Section 10(10D) of the Income Tax Act 1961.

  1. The maturity benefit is calculated is for a 25 years old healthy male who has opted for Canara HSBC Oriental Bank of Commerce Life Insurance Guaranteed Savings Plan with Guaranteed Savings Option through insurer’s website, monthly premium Rs. 10,000 (excluding taxes) premium payment term 10 years and policy term 20 years. The maturity benefit is Rs. 27,43,104 which includes Guaranteed Sum Assured on Maturity, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition. T&C apply.
  2. 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.
  3. Conditions Apply - Provided all premiums are paid as and when due
  4. Available Under Plan option 3- ‘Guaranteed Savings with Premium Protection Option’.
  5. As reported in public disclosures for FY 2019-20.
  6. Individual death claims settled and reported in public disclosures for FY 2019-20.
  • COVID-19 claims are subject to terms and conditions of policy and extant regulatory framework
  • *The percentage calculated is for a 25 years old healthy male who has opted for Canara HSBC Oriental Bank of Commerce Life Insurance Guaranteed Savings Plan with Guaranteed Savings Option through insurer’s website, annual premium Rs. 1,00,000, premium payment term 10 years and policy term 20 years. The maturity benefit is Rs. 24,68,795 which includes Guaranteed Sum Assured on Maturity, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition. Provided all premiums are paid. T&C apply.
  • Enhanced Protection :- Lump sum benefit on death, all remaining premiums are not payable and guaranteed benefits payable on maturity (under Guaranteed Savings with Premium Protection Option). 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 benefit of Rs. 46,800/- is calculated at the highest tax slab of 31.2%(including 4% cess) for an individual assessee on life insurance premium of Rs. 1.5 lacs under Income Tax Act, 1961 and tax benefit may vary from assessee to assessee. 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.For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
  • 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.
  • Premium is excluding goods & services tax. Actual premium rates may vary and will depend on company's assessment of risk on insured's health, lifestyle, occupation etc.

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.): 1800-103-0003/1800-180-0003/1800-891-0003
SMS: 9779030003
Missed Call: 0124-6156600
Email: customerservice@canarahsbclife.in

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

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.

Canara HSBC Oriental Bank of Commerce Life Insurance Co Ltd   |   IRDAI Registration no: 136   |   LPD1GI4LCHOJUN21 ENG   |   UIN: 136N066V02

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