Canara HSBC Term Insurance FAQs

Canara HSBC OBC Life Insurance provides 15 days of grace period for monthly premium payment and 30 days for quarterly, half-yearly or yearly premium payment from the date of due unpaid premium.

No, loan against the policy is not allowed under Canara HSBC OBC term insurance plans.

No. suicide is not covered under the Canara HSBC OBC term insurance plans. If the life assured commits suicide within first 12 months from the date of policy issuance, the insurance company shall provide 80% of the total premiums paid till the date of life assured’s death.

Canara HSBC OBC Life Insurance has featured a high claim settlement ratio of 98.12% in the FY 2019-20. Canara HSBC OBC Life Insurance offers affordable term insurance plans which provide high cover and also provide financial protection to your family in desperate times.

The nominee should lodge the term insurance claim for a Canara HSBC OBC term insurance.

The claim amount for a Canara HSBC OBC term policy is credited to the bank account provided by the nominee.

Yes, the photocopies of documents should be attested by the concerned authorities for a Canara HSBC OBC term policy claim.

The next legal heirs to the nominee in a Canara HSBC OBC term policy can file the claim subject to the completion of official formalities.

It depends on the situation. Students can go for a term insurance policy when entering college to guard against liabilities like education loans. The perfect time to do so is between 33 to 40 years as it secures your family against financial risks. However, anyone between 18 and 65 years can avail the term insurance policy.

In the case of the POS -Easy Bima Plan, it is Rs 15 lakhs. In the iSelect Star Term Insurance policy, it is Rs 3 crores for Accidental Death Benefit policies and Rs 1 crore for Accidental Total Partial Disability policies.

In the case of the whole life coverage plan, it is 99 years, whereas, for the standard insurance plan, it is 80 years for the maturity of a Canara OBC term insurance policy.

The prime benefit available at Canara HSBC OBC is that you can insure your life for a high sum by paying a low premium.

Different premium payment modes available for Canara HSBC OBC term insurance plans are as following:

• Cash
• Demand Draft
• Debit/Credit Card
• Net Banking

Optional in-built coverages available under Canara HSBC OBC iSelect Star Term Plan are Accidental Death Cover and Accidental Total and Permanent Disability Cover.

Canara HSBC OBC Life Insurance has featured a high claim settlement ratio of 98.12% in the FY 2019-20.

Different death benefits payout options available under Canara HSBC OBC iSelect Star Term Plan are lump sum, monthly income and part lump sum and part monthly income.

The older you are, the higher is the premium for a specific sum assured and policy term.

Yes, the Canara HSBC OBC premium calculator by InsuranceDekho does ask for the smoking details. Before purchasing the policy you should disclose it to the company and it can affect the premium. Not disclosing it may lead to penalty and even the entire policy cover being scrapped.

Using the Canara HSBC OBC premium calculator helps you decide by providing the correct premium amount instantly. The knowledge of the right premium amount helps you make an informed decision.

The more the number of riders you add, the higher is the overall premium in the term insurance plan offered by Canara HSBC OBC.