Tricitynews Reporter
Chandigarh Jan. 28,
2021:- Canara
HSBC Oriental Bank of Commerce Life Insurance strengthens its Guaranteed
Savings portfolio with a new “Guaranteed
Income4Life” plan acknowledging the needs of the customers in the
given hour. It is a Non-Linked, Non-Par Individual Life Insurance Savings cum
Protection Plan which not only offers an individual the opportunity to secure
his/her life but also allows one to have regular income to take care of both
long-term and short-term financial goals.
Understanding customer needs and the
falling interest rates, the Company has made a flexible plan with end-to-end
guaranteed benefits. The Plan can be customized as per the policy holder’s
needs, in terms of premium payments or income, and individual’s life
stage. Whether it is lifelong protection or
fulfilling child’s education needs, preparing for early retirement or providing
that extra income to make sure every promise is fulfilled; the product covers
it all. Guaranteed Income4Life is specifically designed to cater to the
requirements of the risk-averse investors and offers maturity benefits
alongside of regular guaranteed payouts.
An Individual can avail the plan as
per their protection and income needs as its offers three options depending
upon the income period such as guaranteed
Income – Income from short to medium term up to 10 years, Guaranteed Long-term
Income – Income for long term of 15 to 20 years and guaranteed Life Long Income – Income for
lifetime i.e. up to age of 99 years.
The 3 plan options provide the
individual with varied assured loyalty additions alongside other guaranteed
benefits. Orchestrated to meet the protection and financial goals, this plan
provides other benefits too such as Loan Facility, Death benefit, high premium
boosters and an option to take commuted value post maturity. The plan also
qualifies for tax benefits as per applicable laws.
Anuj Mathur, MD & CEO, Canara HSBC Oriental Bank of
Commerce Life Insurance said that every individual seeks for a secured life and financial stability
especially to safeguard their family from the unforeseen circumstances.
Understanding this imperative need of our potential customers and to delight
our existing ones, we have come up with a new product- Guaranteed Income4Life, in this New
Year. We believe this plan will be lauded by the customers and help them meet
their financial goals with ease when interest rates on other financial
instruments are bare minimum at the moment.
Akshay Dhand, Appointed Actuary, Canara HSBC Oriental Bank Of
Commerce Life Insurance added that guaranteed Income4Life is our fourth product in guaranteed products
portfolio and is one of our hallmark product because of its sound offering amid
such uncertain time and market movements. The product has been specially
designed to offer life insurance coverage and benefits of a savings product
under one umbrella. A highly flexible plan which gives customers an option to
choose from various payment terms starting from monthly, quarterly, half yearly
to annually with a fixed income frequency as per discretion of the customer.
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