New Delhi, 20th June 2018: Canara HSBC Oriental Bank of Commerce Life Insurance introduces a new unit linked non participating life insurance plan ‘Titanium Plus Plan‘ offering life protection with flexibility in the payment terms. The plan provides a life insurance cover to protect one’s family in case of unfortunate demise. With an unmatched combination of portfolio management options and flexibilities, this product gives a complete control over the savings.
- Life Cover: Cover based on protection needed, further customer gets an option of increase or decrease life cover to match his/her protection requirements during the Policy Term
- Flexibility of Premium Payment Term: Premium payments can be predetermined by customer as per personal needs.
- Multiple Portfolio Management Options to enables optimize returns from the policy such as Return Protector Option, Systematic Transfer Option, Auto Fund Rebalancing & Safety Switch Option to ensure the customer has the flexibility to manage the investments better. Systematic Transfer Option is available with Single Pay Option as well.
- Loyalty Additions & Wealth boosters during the Policy Term as additional allocation of units to boost savings
- This plan is a perfect product to align with MWPA (Married Women’s Property Act) proposition for the customers
Mr. Anuj Mathur, Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited said, “We strongly believe that while designing and developing an insurance product, customer needs and long term value creation is utmost important and that is what we aim for with each product. Titanium Plus Plan has been launched keeping primary focus on customer needs with innovative features and options to cater to these needs. The plan offers the dual benefits of protection for life and investments. The customer can choose from the different investment management options to manage and build on wealth in an optimal way”.
Titanium Plus Plan has entry age from 0 years being minimum and goes upto 70 years, whereas policy maturity ranges between 18 – 80 years of age. Differentiated payments terms can be categorized in single, limited and regular pay option depending upon the needs of the customers.
About Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched in June 2008 and is jointly owned by two of leading public sector banks – Canara Bank (holding 51%) and Oriental Bank of Commerce (23%) – and HSBC Insurance (Asia Pacific) Holdings Limited (26%), the Asian insurance arm of one of the world’s largest banking and financial services groups – HSBC. The Company has a pan-India network of over 10,000 branches of Canara Bank, HSBC and Oriental Bank of Commerce and its other partners. The vast infrastructure of all the banks enables distribution and accessibility of insurance products across the entire country, leading to greater convenience for customers and increasing insurance penetration across the markets (urban, semi urban, rural) of the country thus, contributing to the protection needs of the country. By selling through the banks’ branches and through seamlessly integrated systems and processes to reduce costs, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited aims to pass on the savings to customers through lower charges thus making the Company’s products among the most competitive and accessible in the market.