Canara HSBC Life Insurance offers a range of policies designed to meet your needs and help protect the future of your family, no matter what stage you’re at in life.
These policies come with a number of benefits, including flexible premium payment options and several different plans to choose from.
Here are 10 advantages that make Canara HSBC Life Insurance stand out from the rest.
1) Easy Process
After you have applied for a policy, it will take just one month before your insurance money is credited to your account. The money can be used for any purpose that you wish.
There are no restrictions on how you use your life insurance. This gives you complete freedom to decide how to spend your life insurance. Some popular uses for life insurance funds include funeral costs, covering debts, and providing financial security for loved ones after death.
Be aware that not all policies can be used in ways other than paying out upon death, so check with your provider before planning any specific expense.
With Canara HSBC Life Insurance’s 10-day cooling period, there is plenty of time to review important policy details or ask questions about coverage prior to receiving payment.
2) Instant Approval
Canara HSBC offers instant approval for its various plans. If you are looking to purchase a term insurance policy, you can complete a form online and get a quote instantly.
You can take your time to consider all your options, then get back to them via mail or phone with your selection. Then they issue an Insurance Certificate almost immediately in most cases, so that no time is lost due to delay in processing paperwork and other administrative tasks.
Moreover, policies issued by Canara HSBC are up to 95% tax deductible under Section 80C of Income Tax Act 1961. This means that you save not only on premiums but also on taxes!
3) Premium Options and Flexibility
For any premium amount you choose, you can also choose a flexible premium period, with options to pay premiums monthly or quarterly. This means that if you want to pay your annual premium in two or three installments, you can do so without being penalized.
If at any time your health situation changes drastically, your insurer will review your cover and make a fresh recommendation about what is appropriate for you. No one likes surprises when it comes to money and health insurance – so it’s important to have flexibility on both counts!
The advantage of paying quarterly is that premiums are typically lower than paying every month.
Given that over half of India’s population is under 35, life insurance has become increasingly important.
Besides savings and investments, a life insurance policy may be one of your best ways to ensure your family will have financial stability in case something happens to you.
With several policies available on India’s leading e-commerce sites, it is easier than ever to get started.
5) All India Cover
When you buy a life insurance policy from Canara HSBC, it offers coverage across India. This means that if your health deteriorates suddenly and you have to be treated at a hospital in another city or state, your family will not face any financial hardships.
An All-India Cover is extremely beneficial as it protects your family no matter where they are across India. Also, since all health care costs are increasing by leaps and bounds in urban cities like Mumbai, such an All-India Cover would be great to have as it allows you to travel without worrying about medical bills piling up.
Additionally, many people often forget that premiums on policies purchased today will remain constant even after they move locations which makes them cheaper over time.
6) 24×7 Customer Support
Nowadays, with online transactions taking over, people are more prone to losing their way or need help. Banks and insurance companies know that a happy customer is one who not only gets their money’s worth but also has full support when needed.
That’s why Canara hsbc life insurance provides 24×7 chat, email and telephone support for its customers in case of any confusion or problem.
Also, you can always chat with them or leave a message at their website regarding any doubts regarding health insurance premium payments, medical bill reimbursements or general queries related to health cover!
7) RBL Credit Score Facility
Credit score facility by RBL Bank Limited provides you access to your Credit Information Report (CIR) on a real-time basis at any branch.
So, now you can compare and check your credit score while applying for a loan. You will receive instant feedback on your eligibility once you provide correct details.
Furthermore, you can also ask for corrections in case there are any inconsistencies or mistakes that need to be corrected.
8) Planning Ahead Provides Peace of Mind
One great benefit of Canara hsbc life insurance is that it provides peace of mind. Even if you’re in perfect health, most people want some form of life insurance because they feel better knowing that there will be money available to take care of their family if something unexpected were to happen.
If you are considering purchasing life insurance but are hesitant due to its cost, keep in mind that Canara hsbc life insurance has become increasingly affordable over time.
While it may seem like a large expense up front, not having enough coverage can leave your loved ones with a lot more stress and financial hardship than you ever intended them to experience.
9) Wide Range of Insurances
There are over 300 kinds of covers under life insurance. It is one of the most comprehensive types of insurance. The plans that come with premium payment option do not have an upper limit on amount.
As long as you continue to pay premiums, you will be assured to get money in case something unfortunate happens to you. This can be a good safety net for your family members as well.
You also have variants such as whole life insurance, group term plans and traditional plans from which you can choose. Do your research and find out which plan suits your need best.
The cover comes with low premium payment option so it is a great option for those who do not want to spend much money on it but still want a cover for themselves or their family members or both.
10) Investment Options
While many people choose to buy term insurance, there are others who would prefer a combination of both. In case you want to know about various investment options for Canara HSBC life insurance policy, refer below.
Loan Against Policy: One can avail a loan against death cover from any bank against life cover taken from them. A portion or whole amount can be borrowed without affecting your other finances.
Surrender Option: No one wants to surrender their policy after paying premiums for years together, but it is possible in case you have been diagnosed with an incurable disease and need money urgently.