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Canara HSBC OBC Investment Plans

Established in June 2008, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture of Canara Bank (51%), Oriental Bank of Commerce (23%) and HSBC Insurance (Asia Pacific) Holdings Limited (26%). The company has a customer base of 115+ million and over 10,000 branches of bank partners across the country. The life insurer caters to multiple client requirements, which includes retirement accumulation & guaranteed lifetime income, comprehensive protection - both online and offline policies, savings for children’s education, savings via guaranteed endowment and customized solutions for HNWIs. The affordable policies are targeted at all customer segments and backed by quality service. Canara HSBC OBC’s prudent investment strategy has allowed for consistent fund performance, surpassing benchmarks across all funds. Canara Bank and Oriental Bank of Commerce’s local market knowledge combined with HSBC’s bancassurance capabilities make this an exceptional union of financial strength and expertise. In 2018, the company was awarded the North India Best Employer Brand Awards 2018 at the 13th Employer Branding Awards, the 'Community Development' award at 8th Asia's Best CSR Practices Awards 2018 and the 'Best Customer Service Training Program' award at TISS-Leapvault CLO Awards 2018, among others.

Types of Investment Plans offered by Canara HSBC OBC Life Insurance

Following are the different kinds of insurance solutions offered by Canara HSBC OBC Life Insurance (Note - Information pertaining to the products have been sourced from the website of Canara HSBC OBC Life Insurance):

Guaranteed Savings Plan

Product Benefits

Sum Assured payable on the demise of the life assured will be higher of-

  • 11 times the Annualised Premium, or
  • 105% of all premiums paid as on date of demise, or
  • Guaranteed Sum Assured on Maturity, or
  • Absolute amount assured to be paid on demise

Guaranteed Savings Option & Guaranteed Savings with Double Protection Option

  • Maturity Benefit: On survival till the Policy Term, guaranteed sum assured on maturity plus guaranteed yearly addition(s), plus guaranteed loyalty addition become payable.
  • Death Benefit: If the life assured passes away during the policy period, the death benefit payable to the Nominee will be as follows:
    1. Sum assured on demise, plus
    2. Cumulative Guaranteed Yearly Addition(s) added, as on date of death

If one has opted for Guaranteed Savings with Double Protection Option and demise of the life assured is because of an accident, an additional amount equal to ADB Sum Assured is payable.

Guaranteed Savings with Premium Protection Option

  • Maturity Benefit: On survival till the Policy Term, Guaranteed Sum Assured on Maturity, plus Guaranteed Yearly Addition(s), plus Guaranteed Loyalty Addition become payable.

  • Death Benefit: If the life assured passes away during the policy period, the death benefit payable to the nominee will be: a. Sum assured on demise b. Future premiums (if any) do not have to be paid - the policy shall continue to be active for remainder of the policy term. The plan will accrue Guaranteed Yearly Addition(s). c. On maturity - Guaranteed Sum Assured on Maturity plus Guaranteed Yearly Addition (s) plus Guaranteed Loyalty Addition

Eligibility Details

Names of Mutual Fund SchemesEntry ageMaturity age
Guaranteed savings option
  • Minimum 0 years
  • Maximum 60 years
  • Minimum 18 years
  • Maximum 75 years
Guaranteed savings with double protection option
  • Minimum 18 years
  • Maximum 55 years
  • Minimum 28 years
  • Maximum 75 years
Guaranteed savings with premium protection option
  • Minimum 18 years
  • Maximum 55 years
  • Minimum 28 years
  • Maximum 75 years

Policy and Premium Payment Term

Premium Payment Term (in years)Available Policy Term (in years)
510,15
712, 15
1015,20

Sum Assured

  • Minimum: Based on Plan Option, minimum Annualised Premium, Entry Age, Policy Term and Premium Payment Term
  • Maximum: No Limit

Premium Payment Details

ModeMinimum Instalment Premium (Rs.) Maximum Premium
Annual20,000Maximum Premium: No limit (Subject to Board Approved Underwriting Policy of the Company)
Half-Yearly10,200
Quarterly5,200
Monthly1,800

How it works

The plan provides life cover for the entire term, while premium payments have to be made only for a limited period. Guaranteed benefits are payable at the time of maturity. Additionally, individuals can customize their savings horizon in accordance with important financial goals.

Jeevan Nivesh Plan

Product Benefits

Endowment with Whole Life Cover option

  • Maturity Benefit: On survival till the policy period, Guaranteed Sum Assured on Maturity along with accrued Annual bonuses and Final bonus, if any, shall be paid.

Following payment of maturity benefit, the policy shall not terminate. It will continue till one reaches 100 years of age or date of death, whichever is earlier.

  • Survival Benefit: If the life assured survives beyond the age of 100, Guaranteed Sum Assured on Maturity shall be payable.
  • Death benefit during the Policy Term: If the life assured passes away during the policy period, the death benefit payable (to the nominee) will be higher of:
    1. Sum Assured plus accrued Annual bonuses plus Interim bonus plus Final bonus (if any).
    2. 105% of the overall premiums paid until the date of demise less underwriting extra premium, if any.
  • Death Benefit after the Policy Term but before attaining age 100 years: If the life assured passes away after the policy period, but prior to reaching 100 years of age, Guaranteed Sum Assured on Maturity will be payable to the nominee.

Only Endowment option

  • Maturity Benefit: On survival till the end of policy term, the Guaranteed Sum Assured on Maturity along with accrued Annual bonuses and Final bonus, if any, will be paid.
  • Death Benefit: In the event of the demise of the life assured during the policy period, the death benefit will the higher of:
    1. Sum assured on demise plus accrued Annual bonus plus Interim bonus plus Final bonus (if any).
    2. 105% of the overall premiums paid until the date of demise less underwriting extra premium, if any.

Eligibility Details

  • Entry Age: For Endowment with Whole Life Cover option & Only Endowment option
Annual ModeMonthly Mode
  • Minimum 18 years
  • Maximum 55 years
  • Minimum 18 years
  • Maximum 45 years
  • Maximum Maturity Age - 80 years
  • Monthly mode - 75 years
  • Sum Assured: Minimum Annual Mode – Rs.3,00,000 and Monthly Mode – Rs.5,00,000
  • Sum Assured: Maximum No limit

Endowment with Whole Life Cover option & Only Endowment option

Premium Payment Term (in years)Available Policy Term (in years)
Limited pay 510,15,20
Limited pay 715,20,25
Limited pay 1015,20,25
Regular pay15,20,25,30

How it works

Jeevan Nivesh Plan is a savings cum-protection plan that offers life insurance and savings under a single plan. Individuals can make a one-time investment for a lifetime of regular returns.

Money Back Advantage Plan

Product Benefits

  • Survival Benefit:
Guaranteed Money Back payouts payable at the end of the Policy YearGuaranteed Money Back payouts (as a % of the Sum Assured)
5th15%
9th15%
13th15%
  • Maturity Benefit: On surviving the maturity, Guaranteed Sum Assured on Maturity equal to 55% of Sum Assured along with accrued Simple reversionary bonus and Terminal bonus, if any, will be paid.

  • Death Benefit: In the event of the demise of the life assured during the policy period, the death benefit payable to your nominee will be the higher of:

  • Sum assured on demise plus accrued Simple reversionary bonus plus Interim bonus (for the year when death occurs) plus Terminal bonus (if any); or

  • 105% of the overall premiums paid until the date of demise less underwriting extra premium, if any.

  • Bonuses: Simple Reversionary Bonus and Terminal Bonus

Eligibility Details

  • Entry Age:
Minimum8 years
Maximum 55 years (In case of monthly mode, maximum entry age is 45 years)

Maximum Maturity Age - 71 years Policy Term: 16 years Premium Payment Term: 10 years Sum Assured: Minimum: Annual Mode Rs.1,00,000 (for entry age from 8 to 50 years), Rs.2,00,000 (for entry age from 51 to 55 years), Monthly Mode Rs.3,00,000 (for entry age from 8 to 45 years), Maximum No limit

How it works

This product offers guaranteed money back payouts during the policy period in addition to guaranteed lump sum on maturity and bonus(es), which the customer can utilize to meet various planned milestones.

Smart Junior Plan

Product Benefits

  • Survival Benefit: Guaranteed Annual payouts becomes payable at the end of each of the last four policy years before the maturity year. The annual payouts will be:
At the end of Policy YearPayout as % of Sum Assured
Policy Term minus 420%
Policy Term minus 320%
Policy Term minus 220%
Policy Term minus 120%
  • Maturity Benefit: If the individual survives till maturity, Guaranteed Sum Assured on maturity equal to 20% of Sum Assured along with Annual bonuses and Final bonus (if any) shall be paid.
  • Death Benefit: In the event of the life assured’s demise, following benefits will be payable:
    • Sum Assured
    • 10 times the annualized premium,
    • 105% of the overall premiums paid until the date of demise less underwriting extra premium, if any. Besides the above, all future premiums (if any) need not be paid and the policy shall continue to remain active for the remainder of the policy term. The policy also continues to accrue Annual bonuses.
  • Guaranteed Annual Payouts: The payouts will continue at the end of the last four policy years, before the maturity year.
  • Guaranteed Sum Assured on maturity: The benefit payable will be equal to 20%.
  • Bonuses: On maturity, Accrued Annual bonuses and Final bonus (if any) become payable.

Eligibility Details

Entry Age

Minimum18 years
Maximum50 years (Under monthly mode, maximum entry age will be 40 years)

Maximum Maturity Age - 70 years Policy Term - 12 to 25 years

  • Sum Assured: Minimum Annual Mode: Rs.3,00,000 | Monthly Mode: Rs.5,00,000, Maximum: No limit

Premium Payment Term

Premium Payment Term (in years)Policy Term (in years)
Policy Term minus 8 years13 to 25(pick a term option)
512, 15, 20
1019 to 25 (pick a term option)

How it works

This plan offers Guaranteed payouts in the last 5 years of the policy which can be aligned to child's educational milestones. Additionally, it also provides Annual bonuses and Final bonus, if any, during maturity.

In case of unfortunate demise of life assured, a lump sum amount is paid and the remaining due premiums, if any, are not payable. The policy continues to be active and policy benefits are paid as scheduled.

POS - Easy Bima Plan

Product Benefits

  • Death Benefit Payable (other than accidental death): During the waiting period: Return of the total premium paid (including modal loading but excluding GST & applicable cess, if any). After expiry of waiting period: 100% of Death Benefit Sum Assured.

  • Death Benefit Payable (accidental death): Accidental Death Benefit Sum Assured along with the Death Benefit Sum Assured. 90-day waiting period is not applicable for accidental death.

  • Return of Premium on date of Maturity: On survival until maturity, return of the total premium paid (including modal loading but excluding GST & applicable cess, if any) shall be payable.

Eligibility Details

  • Entry Age:
Minimum18 years
Maximum55 years
  • Maturity Age:
Minimum28 years
Maximum65 years
  • Premium Payment & Policy Term: 5 pay with 10 years policy term | 10 pay with 15 years policy term | 10 pay with 20 years policy term
  • Sum Assured: Minimum Rs.50,000 | Maximum: Rs.15,00,000
  • Minimum Premium: Policy Term 10 year – Rs. 2,219, Policy Term 15 year – Rs. 1,076, Policy Term 20 year – Rs. 989

How it works

This is a pure term life plan with return of premium on date of maturity. Premium paid (including modal loading but excluding GST applicable cess, if any) is returned on survival till maturity.

Smart Suraksha Plan

Product Benefits

Death Benefit (as per plan option)

  • Life Cover: In the event of the life assured’s demise, the sum assured will be paid to the nominee.
  • Accident Plus: In the event of the life assured’s death due to an accident, an additional amount equal to the Sum Assured will be paid to the nominee with the sum assured.
  • Disability Plus: In case the life assured suffers from accidental total and permanent disability, the coverage amount will be paid to the life assured and the policy will terminate.
  • Maturity Benefits: This being a term plan, no benefits are payable on maturity.
  • Rebates:
  • Sum Assured of Rs. 1 crore and above is eligible for a discount
  • If purchased by women, the premium would be set back by 3 years

Eligibility Details

  • Entry Age :
Minimum18 years
Maximum65 years
  • Maximum Maturity Age : 75 years
  • Policy Term : 5 yrs /10 yrs/ 15 yrs/ 20 yrs/ 25 yrs/ 30 yrs or coverage up to Age 60
  • Sum Assured : Minimum Rs. 20,00,000 & above | Maximum: In Life Cover option: No limit, Under Accident Plus: Rs. 3 Cr, Under Disability Plus: Rs. 1 Cr
  • Premium Mode: Yearly/ monthly

How it works

This is a pure protection plan that offers life cover along with the option to cover against accidental death/disability.

Smart Future Income Plan

Product Benefits

  • Life-cover Benefits: On the demise of the life assured, a death benefit equal to Death Benefit Sum Assured plus added annual bonus and final bonus (if any) subject to at least 105% of the premiums paid shall be payable. Sum Assured will be hundred (100) times the monthly income selected.
  • Survival Benefits: Under Income Benefit, the individual will receive the chosen monthly income during the last 15 years of the plan. If the individual survives till maturity, added Annual Bonuses along with Final Bonus (if any) will be paid.
  • Other Benefits :
    • Rebate: Premium rebate is applicable if coverage amount is equal to or over Rs. 7 lakhs.
    • Loans: Loan facility can be availed once the policy has acquired a surrender value.
  • Bonuses: Annual Bonuses and Final Bonus (if applicable)

Eligibility Details

  • Entry Age
Minimum18 years
Maximum55 years
  • Maturity Age
Minimum43 years
Maximum80 years
  • Policy Term: 25 years
  • Sum Assured: 100 times the chosen monthly income
  • Min. Monthly Income: Min. Income is Rs. 5,000 per month (in multiples of 100 thereafter)
  • Min. Premium: Depends on the age, income and premium mode chosen.
  • Premium Payment Term: 10 years

How it works

This plan offers guaranteed monthly income for 15 years to supplement one’s earnings and help in retirement. The plan accumulates lump sum amount through annual and final bonuses to create a pool of money for one’s loved ones.

Smart Monthly Income Plan

Product Benefits

  • Life-cover Benefits: Sum Assured will be hundred (100) times the monthly income selected. On the demise of the life assured, a death benefit equal to death benefit sum assured in addition to annual bonus and final bonus (if any) subject to at least 105% of the premiums paid by the life assured (not including extra premiums, if any) shall be payable.
  • Survival Benefits: Under Income Benefit, one will receive the chosen monthly income in the last 15 years of the plan. If the individual survives till maturity, added Annual bonuses with Final Bonus, if any, will be paid. With the set-off option, premiums can be adjusted in 11th year to 15th year from the income receivable during these years.

Other Benefits

  • Rebate: Premium rebate is applicable if sum assured is equal to or more than Rs. 3 lakhs.
  • Loans: Loan facility can be availed once the policy has acquired a surrender value.

Eligibility Details

  • Entry Age:
Minimum18 years
Maximum55 years
  • Maturity Age:
Minimum43 years
Maximum80 years
  • Policy Term (Fixed): 25 years
  • Sum Assured: 100 times the chosen monthly income
  • Min. Monthly Income: Min. Income is Rs. 2,000 per month (in multiples of 100 thereafter)
  • Min. Premium: Depends on the age, income and premium mode chosen.
  • Premium Payment Term: 15 years

How it works

This plan offers guaranteed monthly income for 15 years to supplement one’s earnings and help in retirement. The plan accumulates lump sum amount through annual and final bonuses to create a pool of money for one’s loved ones.

Samridh Bhavishya

Product Benefits

  • Annuity Options: One can choose from the following annuity options at inception:
    • Lifetime annuity
    • Lifetime annuity with guaranteed payment period of 5, 10, 15, or 20 years
    • Joint Life, Last survivor with 100% annuity to the secondary annuitant on demise of the primary annuitant

Higher Annuity Instalment for High Purchase Price

Purchase Price Band (not including taxes) (Rs) Additional annualised annuity rate (per 1000 of purchase price)
< 2,00,000Nil
>= 2,00,000 to < 3,00,0001.10
>= 3,00,000 to < 5,00,0001.50
>= 5,00,000 to < 10,00,0001.80
>= 1,000,0002.00

Eligibility Details

  • Entry Age:
Minimum30 years
MaximumNo limit

Note: For those below the age of 30 years, annuity will be offered only if the policy is availed from the proceeds of group or individual pension accumulation plan of the company. Minimum Purchase Price (Single Premium): Rs. 2,00,000

How it works

This plan ensures that a person receives a regular guaranteed income stream after he or she has retired. It provides annuity instalments throughout one’s lifetime.

Smart Immediate Income Plan

Product Benefits

  • Death Benefit: In the event of demise of the annuitant (for single life) or last survivor (for joint life), the purchase price (minus taxes) shall be paid as death benefit. Outstanding annuity instalments (if any) until the date of demise shall also be paid with the death benefit. However, all the annuity instalments paid from date of death until the time it is intimated to the company shall be reduced from the Death Benefit payable.
  • Annuity Options:
    1. Lifetime annuity with Return of 100% of purchase price on death of the annuitant
    2. Joint Life, Last survivor with 100% annuity to the secondary annuitant on death of the primary annuitant with Return of 100% of purchase price on the death of the last survivor Higher Annuity Instalment for High Purchase Price
Purchase Price Band (not including GST & applicable cess, if any (Rs)) Additional annualised annuity rate (per 1000 of purchase price)
< 2,00,000Nil
> 2,00,000 to < 3,00,0001.10
> 3,00,000 to < 5,00,0001.50
> 5,00,000 to < 10,00,0001.80
> 1,000,0002.00

Eligibility Details

  • Entry Age :
Minimum30 years
MaximumNo limit
  • Minimum Purchase Price (Single Premium): Rs. 2,00,000

How it works

This plan ensures that a person receives a regular guaranteed income stream after he or she has retired. It provides annuity instalments throughout one’s lifetime.

How to Apply for Canara HSBC OBC Investment Plans?

Individuals can apply for Canara HSBC OBC Investment Plans either online or offline. Under the online mode, one can visit the official website of the insurance company or an insurance broker like Coverfox, submit the application and make the premium payment. Credit card, debit card, internet banking and EMI are some of the online modes by which premium payments can be made. There is also the option of visiting any of the branches of the insurance company to avail a policy. Here, the applicant must ensure that he or she carries all the necessary documents that will need to be submitted at the branch office.

FAQs on Canara HSBC OBC Investment Plans

Why choose Canara HSBC OBC Investment Plans?

Canara HSBC OBC is one of the leading life insurance companies in the market, with solutions to meet multiple client requirements. The company’s offerings include retirement accumulation & guaranteed lifetime income, comprehensive protection - both online and offline policies, savings for children’s education, savings via guaranteed endowment and customized solutions for HNWIs.

Which is the best investment plan of Canara HSBC OBC Investment Plans in 2018-19?

Canara HSBC OBC offers a number of insurance solutions to meet different client requirements. Titanium Plus Plan, Smart Future Plan and Smart One Pay are some of the investment plans one can consider opting.

Which is the best Canara HSBC OBC Investment Plans for long term?

Investment plans of Canara HSBC OBC Life Insurance that one can avail for the long term are Jeevan Nivesh Plan, Smart Junior Plan and Smart Suraksha Plan.

How to pay premium? What are the modes of payment available?

Premiums can be paid online or offline. Under the online route, the options available are credit card, debit card, internet banking, Unified Payment Interface (UPI) and auto debit, among others. The payments can also be paid at the bank branches via cheque /DD/ direct transfer.

How can I check policy status for Canara HSBC OBC Investment Plans?

To track the status of the application, simply click on ‘Track Application’ under Manage Policy on the company’s website and enter your application number.