Life insurance is a product that is designed to protect someone against the risk of death. It is usually taken out by people who have dependents or those who have accumulated wealth and want to protect it from being lost in the event of their death. There are many life insurance companies to buy the best life insurance policy. But not all of them offer the same benefits. Canara HSBC OBC Life Insurance is one of India's most popular life insurance providers. It is also the second largest private life insurance company in India.
For buying the life insurance policy, if you consider Canara HSBC OBC Life Insurance, you may also need to look into alternatives or competitors to find the right one that fits your needs. In this article, we will talk about some top 10 competitors or alternatives to Canara HSBC OBC Life Insurance Online that are available in India. This article will compare some of India's best Canara HSBC OBC Life Insurance alternatives. It will be looking at some of their features and benefits as well as their prices to help you decide on which policy to choose for your needs and budget.
Canara HSBC OBC Life Insurance
The Canara HSBC OBC life insurance company is a joint venture between Canara Bank, HSBC Asia Pacific Holdings Limited, and Punjab National Bank. The company brings the trust and market knowledge together of two big public sector banks in India namely Canara Bank and Punjab National Bank combined with the global insurance expertise of HSBC. Canara HSBC OBC Life Insurance is the first to launch 'Immediate Pay-outs on Death Claim' under unit-linked policies so that the family of the life insured will receive the fund value immediately on registration of the death claim.
| Foundation |
2008 |
| Claim Settlement Ratio |
97.10% |
| Solvency Ratio |
3.27 |
| Number of Branches |
2251 |
| Plans |
Term Plans, ULIP Insurance Plans, Child Plans, Retirement Plans, Savings Plans, Health Plans
Group Plans
|
| Benefits & Features |
Financial Protection, Easy Policy Issuance, Tax Benefits, Excellent Customer Service, Hassle-free claim settlement, Flexibility in Payment Options |
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Why Should Consider Canara HSBC OBC Life Insurance Alternatives
Canara HSBC OBC Life Insurance Alternatives are other insurance companies from that people can buy a life insurance policy to protect themselves against the risk of death. However, as there are many competitors in the market offering similar products at competitive prices, it is best to compare these options before buying any product from Canara HSBC OBC Life Insurance.
If you are considering Canara HSBC OBC Life Insurance Alternatives, there are some things that you should know before making any decisions. You need to consider what your needs and goals are and how much coverage is necessary for those needs. You also need to look at other aspects such as the price and what other benefits come with the policy. There are many reasons why people may want to consider Canara HSBC OBC Life Insurance Alternatives as an option.
Here are reasons why you should compare Canara HSBC OBC Life Insurance Alternatives & Competitors:
- The cost is lower than other types of life insurance
- For better security features available for your needs
- You can find out if there are better benefits available for your needs
- For better customer service features available for your needs, etc.
Where to Find the Best Canara HSBC OBC Life Insurance Alternatives in India
Life insurance is a financial product that helps you protect your family's future by providing a lump sum amount of cash in case of your death. The best Canara HSBC OBC life insurance alternatives in India are those that offer the best coverage at the lowest cost. The best Canara HSBC OBC life insurance alternatives in India are available at PolicyBachat.com. Here you can compare and buy the best life insurance plans from various companies and get the best deals on your purchase.
PolicyBachat is an online insurance comparison website that offers a platform to compare and buy the best insurance plans from various companies. It sorted out a list of the best alternatives and competitors to Canara HSBC OBC Life Insurance based on benefits, claim settlement, and discounts offered by them.
Top 10 Canara HSBC OBC Life Insurance Alternatives
Here is a list of the top 10 competitors or alternatives to Canara HSBC OBC Life Insurance.
- HDFC Life Insurance
- Pramerica Life Insurance
- Exide Life Insurance
- Kotak Mahindra Life Insurance
- Reliance Nippon Life Insurance
- PNB MetLife Insurance
- Aditya Birla Sun Life Insurance
- Tata AIA Life Insurance
- Aviva Life Insurance
- ICICI Prudential Life Insurance
HDFC Life Insurance
HDFC Life Insurance Company Limited is a standard life insurance company supporter of housing development Finance Corporation limited. It is a joint venture between HDFC Ltd and standard life Aberdeen, a global investment company. HDFC life insurance provides innovative and customer-centric insurance plans that can help our customers secure their family's future as well as help them with other benefits such as tax savings. It offers a wide range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, and Health Solutions.
Foundation: 2000
Claim Settlement Ratio: 98.66%
Solvency Ratio: 2.01
Number of Branches:390
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Benefits & Features:
- Long-Term Coverage
- Variety of Products
- Hassle Free Claim Settlement
- Award-Winning Services
- Excellent Customer Support
- Affordable products
- Death Benefits
- Tax Benefits
Plans Available:
- Term Plans
- ULIP Plans
- Savings Plans
- Child Plans
- Health Plans
- Pension Plans
- POS Plans
- Combo Plans
Pramerica Life Insurance
Pramerica Life Insurance Limited erstwhile DHFL Pramerica Life Insurance Company Limited is headquartered in Gurugram. Pramerica Life Insurance is a joint venture between DHFL Investments Limited, a wholly-owned subsidiary of Dewan Housing Finance Corporation Ltd. (DHFL) Prudential International Insurance Holdings. The company provides a wide range of life insurance solutions for individuals as well as groups. Pramerica life insurance company’s target is to provide affordable, efficient, and effective life insurance life cover. It offers various financial protection needs such as securing their child’s future, retirement planning, tax saving, and wealth creation.
Foundation: 2013
Claim Settlement Ratio: 98.61%
Solvency Ratio: 4.42
Number of Branches:133
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Benefits & Features:
- Long-Term Coverage
- Affordable Premiums
- Excellent Customer Services
- Wide Range of Products
- Financial Assistance
- Tax Benefits
- Return of Premiums
- Easy Claim Settlement
Plans Available:
- Protection Plans
- ULIP Plans
- Savings Plans
- Child Progress Plans
- Health Plans
- Retirement Plans
- Group Plans
Exide Life Insurance
Exide Life Insurance is one of the Top 10 Most trusted companies in India. It was formerly known as ING Vysya Life Insurance Company. It is a non-government and commercial life insurance company headquartered in Bengaluru. The Exide Insurance Company is owned by Exide Industries Limited and serves over 15 lakh customers. The Company is focused on providing long-term protection and savings solution plans and has a strong traditional product portfolio with a consistent bonus track record in the insurance sector. The company steps beyond life insurance and provides need-based life insurance solutions.
Foundation: 2000
Claim Settlement Ratio: 98.54%
Solvency Ratio: 2.24
Number of Branches:200+
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Benefits & Features:
- Wide Range of Products
- Affordable Premiums
- Customized Premium Payment Options
- Incredible Claim Settlement Ratio
- Customer-Friendly Procedures
- Excellent customer service
- Tax Benefits
Plans Available:
- Term I Plans
- Child Plans
- Retirement Plans
- Savings Plans
- Investment Plans
- Health Plans
- Rider Plans
Kotak Mahindra Life Insurance
Kotak Mahindra Life insurance company limited is one of the best and fastest-growing insurance companies in India. It is a joint venture between Kotak Mahindra Bank Limited and Old Mutual Limited, a pan African investment, savings insurance, and banking group operating. It provides an extensive range of financial products to meet both corporate and individual investment needs. Kotak life insurance secures your future and makes sure that all your investments keep giving you profitable returns. Kotak Life Insurance Company provides a wide range of affordable Life Insurance Policies.
Foundation: 2001
Claim Settlement Ratio: 98.50%
Solvency Ratio: 2.90
Number of Branches:232
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Benefits & Features:
- Wide Range of Products
- High Coverage At Low Premiums
- Easy Policy issuance
- Award Winning Services
- Long-Term Coverage
- Tax Benefits
Plans Available:
- Term Plans
- Child Plans
- Savings and Investment Plans
- Protection Plans
- Retirement Plans
- ULIP Plans
- Health Plans
Reliance Nippon Life Insurance
Reliance Nippon Life Insurance Company Limited is one of India's leading private sector life insurance companies. Reliance Nippon Life Insurance Company is an important part of Reliance Capital and it is a private-sector financial services and Non-banking Company. Reliance Capital has diversified businesses in insurance of all kinds, asset management, mutual funds, commercial finance, and other financial services. Reliance Life has a huge variety of life insurance plans that offers tailor-made plans as per the customers’ requirements.
Foundation: 2001
Claim Settlement Ratio: 98.49%
Solvency Ratio: 2.45
Number of Branches:713
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Benefits & Features:
- Affordable Premiums
- Multiple Premium Payment Frequencies
- Excellent Customer Services
- Multiple Add-On Covers
- Wide Range of Products
- Tax Benefits
- Customized Protection
Plans Available:
- Term Plans
- Savings Plans
- Retirement Plans
- ULIP Plans
- Health Plans
- Group Plans
PNB MetLife Insurance
PNB MetLife India Insurance Company Limited is one of the major life insurers in India. PNB MetLife is a collaboration between MetLife International Holdings Inc., Punjab National Bank Limited, Jammu and Kashmir Bank Limited, M.Pallonji and Company Private Limited, and other private investors. This company offers a wide range of products for protection and retirement. It is a one-step solution toward a safe future for you and your loved ones.
Foundation: 2001
Claim Settlement Ratio: 98.17%
Solvency Ratio: 1.90
Number of Branches:117
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Benefits & Features:
- Affordable Premiums
- Maximum Sum Assured
- Excellent Customer Services
- Multiple Add-On Covers
- Wide Range of Products
- Return of Premiums
- Flexible Tenure
- Tax Benefits
Plans Available:
- Family Protection Plans
- Online Plans
- Long-Term Plans
- Child Education Plans
- Retirement Plans
- Health Insurance Plan
- Group Plans
Aditya Birla Sun Life Insurance
Aditya Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun Life Financial Inc. The company offers a wide range of life insurance products to suit the needs of different customers. It is one of India's largest and most trusted life insurance providers in India. Aditya Birla Sun Life Insurance Company was well known for its product innovations as per customers’ needs and commitment to customer services.
Foundation: 2001
Claim Settlement Ratio: 98.04%
Solvency Ratio: 1.80
Number of Branches:340
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Benefits & Features:
- Excellent Customer Service
- Easy And Hassle-Free Claim Settlement
- Flexibility in Premium Payment
- Tax Benefits
- Long-Term Coverage
- Affordable Premiums
- Easy Policy Issuance
Plans Available:
- Term Plans
- Retirement Plans
- Health Plans
- Child Plans
- ULIP Plans
- Savings Plans
Tata AIA Life Insurance
Tata AIA Life Insurance Company is one of the fastest-growing leading insurers in the Indian private sector. Tata AIA Life Insurance Company Limited is a joint venture between Tata Sons and AIA Group Ltd. Tata Sons holds a stake of 74% in the company and AIA holds 26%. It is accomplished by offering customized life, health, and group insurance solutions to individuals and families, and a group of people.
Foundation: 2000
Claim Settlement Ratio: 98.02%
Solvency Ratio: 2.04
Number of Branches:216
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Benefits & Features:
- Wide Range of Products
- Trusted Brand
- Excellent Claim Settlement Ratio
- Affordable Insurance Plans
- Excellent Customer Services
- Flexible Payment Options
Plans Available:
- Term Plans
- ULIP Plans
- Retirement Plans
- Savings Plans
- Group Plans
- Combo Plans
Aviva Life Insurance
Aviva Life Insurance Company Limited India is a joint venture between Dabur Invest Corporation and Aviva PLC UK-based Insurance Group. It is one of India’s oldest and most respected insurance companies to fulfill policyholder certain needs. The main purpose of Aviva Life Insurance Company is to give simple and useful policies that achieve customer life goals. Aviva life insurance company’s gained experience in this field over centuries in offering comprehensive insurance solutions.
Foundation: 2002
Claim Settlement Ratio: 98.01%
Solvency Ratio: 2.24
Number of Branches:790
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Benefits & Features:
- Tax Benefits
- Wealth Creation
- Life-Long Coverage
- Investment Option
- Good Customer Support
- Easy Claim Settlement
- Death Benefits
Plans Available:
- Term Insurance Plans
- Retirement Plans
- Child Plans
- Savings Plans
- Group Plans
ICICI Prudential Life Insurance
ICICI Prudential life insurance company is a leading international financial services group headquartered in the UK. ICICI Prudential Life Insurance Company has consistently been the top company in the Indian Life Insurance Sector. It is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. The company aims to provide cost-effective products, good supervision of assets and funds under its management, and a hassle-free claim settlement experience for its valued customers.
Foundation: 2001
Claim Settlement Ratio: 97.90%
Solvency Ratio: 2.17
Number of Branches:514
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Benefits & Features:
- Wide Range of Products
- Affordable Plans
- Excellent Claim Settlement
- Multiple Payout Options
- Excellent Customer Service
- Long-Term Coverage
- Tax Benefits
Plans Available:
- Term Plans
- Health Plans
- ULIP Plans
- Traditional Savings/Money Back Plans
- Retirement Plans
- Group Plans
- Rural Plans
- Rider Plans
Things to Keep in Mind When you’re looking for Right Life Insurer
There are many life insurers out there and it can be hard to find the right one. Here are a few things to keep in mind when you're looking for a life insurer:
- What is the company's reputation & reviews
- What is their financial stability
- What type of coverage do they offer
- How long has this company been in business
- What are your needs and goals & How much coverage is necessary for those needs
- You also need to look at other aspects such as the price and benefits that come with the policy.
Conclusion
One of the most important decisions you will make in your life is choosing the right life insurance plan for you and your family. There are various factors to consider like the level of coverage, premium, policy term, and more while choosing the right life insurance policy from the right company.
PolicyBachat is an insurance web aggregator that will see for yourself which life insurer provides the best life insurance policy by comparing quotes online. So, compare life insurance quotes and grab your life insurance policy now. It has compiled everything you need to know about Canara HSBC OBC life insurance alternatives in one place so that it is easy for you to find out which one is best suited for your needs and budget.