Canara HSBC OBC Life Insurance coverage launches Flexi Edge


Canara HSBC Oriental Financial institution of Commerce Life Insurance coverage has launched its new insurance coverage plan — Flexi Edge–a non-linked taking part particular person financial savings life insurance coverage plan that permits the purchasers with the power to prioritize their long-term financial savings. 

Flexi Edge addresses the rising wants of consumers ranging from financial savings to revenue and unplanned or recurring bills; together with offering life cowl to the policyholder within the unlucky occasion of the demise, in accordance with a  launch by Canara HSBC OBC Life Insurance coverage.

The plan presents prospects the pliability to select from three choices relying on their individualistic necessities:

1. Flexi Financial savings is a primary financial savings construction to serve numerous wants of the client and presents lump sum profit equal to 100% of sum assured, loyalty additions and accrued bonuses at finish of the coverage time period. As soon as the insurance coverage plan is coupled with Premium Safety Profit, it turns into a great funding to maintain baby’s schooling & different wants even in absence of oldsters.

2. Flexi Earnings is the revenue variant of the plan to assist maintain revenue wants and rising bills of the policyholder. The coverage presents a lump sum profit equal to 50% of the sum assured on the finish of premium cost time period along with assured revenue & money bonus yearly submit completion of premium cost time period until finish of coverage time period. The policyholder is additional entitled to lump sum advantages equal to 100% of sum assured and accrued bonuses at finish of the coverage time period.

3. Flexi Care is a complete life plan meant to maintain funds throughout the golden years of 1’s life. The plan presents money bonus yearly from finish of the 2nd coverage yr until finish of the coverage time period (100-age at entry) together with lump sum advantages equal to accrued assured additions at Milestone Age. Moreover, the policyholder will obtain a lump sum profit equal to 100% of Sum Assured and bonuses at finish of the Coverage Time period.

Anuj Mathur, MD and CEO, Canara HSBC Oriental Financial institution of Commerce Life Insurance coverage Firm mentioned, “Our mission has at all times been to empower folks by leveraging distinctive insurance policy and merchandise to steer prospects in direction of a financially safe future. With the Flexi Edge plan, we wish to create a feature-rich product that gives aggressive returns to our prospects. The product is designed in such a way that it’ll provide full-term cowl and several other add-on choices as per the suitability and suppleness required by the policyholder. We’re sure that with Flexi Edge we can provide our prospects extra revenue, financial savings, and care.”

The Flexi Edge plan may even present policyholders with advantages like:

• Premium Safety Profit – Waiver of future premiums on demise of the Life Assured

• Deferred Survival Profit Facility – A singular deferred survival profit facility permits the client to deposit the survival advantages with the corporate underneath Flexi Earnings and Flexi Care plan choice. The profit will develop at a assured price agreed on the time of buy of the coverage, as per the press launch.

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