Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited has launched a traditional group protection-cum-savings product by the name of “Smart Sanchay”.
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture between Canara Bank, HSBC Insurance (Asia Pacific) Holdings Limited and Oriental Bank of Commerce.
Smart Sanchay Plan has been custom-made for the Bancassurance model and is designed for account holders of the distributor banks. All new bank account holders can choose this product. Old account holders can also avail of this opportunity simply by enrolling. Along with fixed returns, the insurance plan provides accident protection and life cover at a low-cost yearly premium as low as Rs. 6,000.
“Smart Sanchay” will be available in the beginning, at all branches of Oriental Bank of Commerce, Canara Bank, South Malabar Gramin Bank, Shreyas Gramin Bank and Pragathi Gramin Bank.
“Smart Sanchay” will be available in the beginning, at all branches of Oriental Bank of Commerce, Canara Bank, South Malabar Gramin Bank, Shreyas Gramin Bank and Pragathi Gramin Bank.
The policy also provides tax benefits to the policyholder under Section 80C and Section 10(10D) of the Income Tax Act.
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