Canara
HSBC Oriental Bank of Commerce Life Insurance launches 'Invest4G' a competitive
and comprehensive Online Life insurance product
- A
competitive product completely aligned to the needs of the new age investors
- Comprehensive
plan catering to dominant needs: Growth, Children Education & Savings for
future/old age/retirement planning
Canara HSBC Oriental
Bank of Commerce Life Insurance has introduced a new unit linked plan
'Invest4G' which gives customers a wide choice to opt the protection suitable
as per the needs. The product has been designed with the intent to meet the
needs of the digital new age customer.
A competitive product
with features such as return of mortality charges at policy maturity; a value
packed plan which provides complete freedom to the customers for taking
informed decisions basis their changing life stage needs and future goals.
Invest4G provides protection features through different benefit options to suit
customer needs.
The 4G's of Invest4G are:
i. G - Gain: From the Zero
premium allocation charge & Zero policy administration charge throughout
the policy term.
ii. G - Goal: Flexibility to
customize your plan as per your life goals to ensure you give your family only
the very best
iii. G - Get: Attractive
returns through Loyalty Additions & Wealth Boosters at regular intervals to
boost your saving and gear you up for the life's uncertainties
iv. G - Growth: Unique option of
return of Mortality charges* at maturity, portfolio management options and 7
funds to choose from
*Return on Mortality feature is available under Benefit Option 1
(Life Option), Premiums under this plan provides tax benefits at the time of
paying the premium and at the time of receiving the benefits.
 |
| Anuj Mathur, MD and CEO, Canara HSBC OBC Life Insurance |
Mr. Anuj Mathur, Managing
Director & Chief Executive Officer, Canara HSBC Oriental Bank of Commerce
Life Insurance Company Limited said, "The
product philosophy we follow is to focus on customer needs and design
propositions with customer insights and extensive market research. Our aim
always has been that our proposition to customer must be market competitive,
typically top quartile for target customer segments which provides fair value
exchange. Invest4G is one such product and is inspired from the current
generation who is digital savvy and look for investment cum insurance solutions
with value packed features before they invest in from the convenience/comfort
of their homes."
The product has been co-evolved with
India’s leading insurance marketplace, PolicyBazaar.com. The Company will be
promoting this plan through web aggregators and digital distribution channels.
Mr. Yashish Dahiya, CEO
& Co-Founder, PolicyBazaar.com further added,
“Invest 4G is one of the lowest cost new generation ULIPs now available in the
market. The product has been conceptualized basis the needs of the new-age
consumer. We expect this product to provide an excellent and efficient solution
to consumers looking to build & manage wealth in the long term. In fact,
the protection cover practically available at zero cost is almost a bonus for
the consumer.”
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.
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