A competitive and comprehensive Online Life insurance product

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

(www.canarahsbclife.com)

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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