Insurance Plans Reviews and Articles

Life Insurance Simulator Launched by Canara HSBC OBC

Posted in life insurance by kishosingh on August 7, 2011

Recently, Canara HSBC Oriental Bank of Commerce launched Life Insurance Simulator (LIS). The policy is aimed to make the customer make aware of importance of financial planning.

An online news portal – economictimes.indiatimes.com about business and economy writes about Life Insurance Simulator, “LIS is an interactive financial need assessment software that takes the customer through a series of simple steps to assess the amount he requires for each of his needs and if his current savings and investments are adequate to fulfill them. LIS is available in English, Hindi, Punjabi and Kannada.”

So, Life Insurance Simulator of Canara HSBC OBC is being recognized as the interactive financial need assessment software. It assesses the amount of requirement for each need of customers. The LIS is available in many languages like English, Hindi, Punjabi and Kannada.

Further it quotes a statement of Rishi Mathur who is the company’s Senior VP (Products and Marketing), “LIS has been designed with an objective to educate the customers about the importance of financial planning. It will also help them in making their financial planning more effective as it focuses on four essential life stages – family protection, child’s future requirements, wealth creation and retirement.”

So, Life Insurance Simulator has been introduced to understand the objective and educate the customers about the importance of financial planning. It helps in financial planning in different stages of life.

About the company, the news portal writes, “Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched in June, 2008 and is jointly owned by Canara Bank (holding 51 per cent), Oriental Bank of Commerce (23 per cent) and HSBC Insurance (Asia Pacific) Holdings Limited (26 per cent). The company has a capital base of Rs 825 crore with assets under management of Rs 2,820 crore.”

Canara HSBC OBC has already launched Life Insurance Future Smart ULIP. Life Insurance Simulator (LIS) is the send most appreciating plan of Canara HSBC OBC.