Insurance Plans Reviews and Articles

Canara HSBC Oriental Bank of Commerce Life Insurance Future Smart ULIP Launched

Posted in insurance by kishosingh on January 26, 2011

Recently, Canara HSBC Oriental Bank of Commerce Life Insurance Company announced the launch of a new unit linked plan. The Unit-Linked Plan aims at providing cover to a child’s future and fulfilling the financial needs.

An online news portal about business and economy – economictimes.indiatimes.com, quotes a statement about the Canara HSBC Oriental Bank of Commerce Life Insurance Future Smart, “The Company has entered into child protection space by launching Canara HSBC Oriental Bank of Commerce Life Insurance Future Smart Plan.”

Further it adds another quotation from the statement, “Canara HSBC Oriental Bank of Commerce Life Insurance Future Smart is a unit linked insurance plan that provides long-term investment opportunity to build a bright future for your child.”

So, it provides long-term investment opportunity to build a bright future for our child. It is an investment plan for the career of the children.

Further the news portal writes, “The Company is owned by Canara Bank (holding 51 per cent) and Oriental Bank of Commerce (23 per cent) and HSBC Insurance (Asia Pacific) Holdings (26 per cent).”

Mario Perez who is the Canara HSBC OBC Life Insurance Director (Sales, Marketing & Products) said to ET, “Our Future Smart Plan ensures that the future financial needs of a child remain undisturbed even in case of an unfortunate event.”

So, the plan ensures that the future financial needs. The plan helps in case of an unfortunate event.”

About the benefit of the plan, the news portal writes, “The product offers tax benefit to customers on premiums paid under Section 80C and Section 10(10D) respectively, of the IT Act, 1961.

The company also has two more ULIPs in its product basket – Canara HSBC OBC Life Grow Smart Plan and Canara HSBC OBC Life Dream Smart Plan.” The plan is as impressive as Saral Maha Anand New ULIP of SBI Life.

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