Canara HSBC Oriental Bank of Commerce Life Insurance Pension4life

Canara HSBC Oriental Bank of Commerce Life Insurance Pension4life

New Delhi: Canara HSBC Oriental Bank of Commerce Life Insurance has unveiled Pension4life Plan, an annuity product designed to provide financial independence to retired individuals, those near retirement or earlier.

Under this plan, the customer gets a wide range of annuity options in exchange for a purchase price. The customer will get as many as 7 annuity options to choose from allowing them to lead a hassle-free life. Customers can also have a joint life plan. The plan also offers flexibility to opt for the reverse mortgage option with banks or the option of availing annuity for NPS (National Pension Scheme) subscribers. There are 7 annuity Options under the plan which include Immediate Life Annuity (Single Life), Immediate Life Annuity with Return of Purchase Price (Single Life), Immediate Life Annuity with Return of Purchase Price on Critical Illness (CI) or Accidental Total & Permanent Disability (ATPD) or Death(Single Life), Family Income (option available only for National Pension System (NPS) subscribers. (IANS)

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