Canara HSBC OBC Life Insurance launches single premium plan

MUMBAI: Canara HSBC Oriental Bank of Commerce Life Insurance announced the launch of its first single premium plan - Canara HSBC Oriental Bank of Commerce Life Insurance Shubh Labh.

Shubh Labh is a unit-linked non-participating endowment life insurance plan that helps customers meet their protection and investment needs. The plan provides a life cover and helps the customers generate wealth by investing in the funds of choice. It caters to the diverse financial goals various people have, depending which stage of life they are in - it could be starting a family, planning retirement, or then simply wanting financial freedom.

"We are pleased to offer Shubh Labh, our first single premium plan, to the customers of our partner banks, who have an investible surplus and prefer a one-time payment to meet their financial goals," Canara HSBC Oriental Bank of Commerce Life Insurance, Chief Executive Officer John Holden said in a statement here.

With the launch of Canara HSBC Oriental Bank of Commerce Life Insurance Shubh Labh Plan, the company has further strengthened its product suite to help the customers of partner banks find the right solution for protecting their family and saving for future financial needs.