Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited today announced the launch of iSelect+ Term Plan to provide enhanced protection cover at an affordable premium. The plan is available online.
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited today announced the launch of iSelect+ Term Plan to provide enhanced protection cover at an affordable premium. The plan is available online. With the help of iSelect+ Term Plan, subscribers can design their own financial safety net to protect their family’s future and ensure that they lead their lives comfortably without any financial worries. The insurer said in a statement that iSelect+ Term Plan is a highly flexible and customer-friendly term plan that can be aligned with life stages and requirements of the customers. It offers different options for not only coverage, but also for premium payment and benefit payouts.
“This plan is designed to provide death benefit and terminal illness, and has additional options of accidental death benefit, accidental total and permanent disability benefit and child support benefit,” the company said, while adding that the customers can choose from the various options provided and customize it as per their requirement.
There are three plan options to choose from:
- Plan Option 1 “Life”
- Plan Option 2 “Life with Return of Premiums”
- Plan Option 3 “Life Plus”
Commenting on the new product, Anuj Mathur, Managing Director & Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited said, “iSelect+ Term Plan is a simple to understand product that is available online, has convenient premium payment options and offers very high value to the customer.”
Mathur further said, “iSelect+ Term Plan is a pure protection online term plan that provides cover in case of death/ terminal illness along with the option to cover against accidental death/ disability.”
Santosh Agarwal, Chief Business Officer, Life Insurance, Policy Bazaar said, “One of biggest concerns and priorities of life is to secure a good life for our family members and one can fulfil this need with a protection plan which enables them to cover financial obligations and can, to a great extent, provide financial relief to their loved ones. The iSelect+ Term Plan helps in attaining this by providing protection against all uncertainties of life. iSelect+ plan aims to propagate industry first customer propositions such as Child Support Benefit, Maturity Benefit in Life Plus Option , Covering Working and Non-Working spouse in the same policy for our customers.”