iSelect Term Plan – The Smart Term Insurance for Your Financial Security

iSelect Term Plan
iSelect Term Plan

Taking an insurance policy is not just a necessity these days, but also one of the best financial coverage options that you can opt for. There is always the harsh reality of an unforeseen calamity in life lurking around the corner, which may cause future distress to your family and dependants. Investing in a suitable insurance policy is the best financial protection that you can give to your family in lieu of this uncertain future. 

Term insurance, or term plan, is a widely accepted type of insurance policy which many people prefer owing to its multiple benefits and flexibility. Term Insurance covers the policyholder for a specified duration of time and often provides a bulk pay-out to the nominee in an unfortunate situation.

A term plan is highly advantageous for those individuals who are the only earning member of their family and have little kids to take care of. Another advantage is that the premium amount payable for term insurance is very less when compared to Whole Life insurance.

Financial Security Made Easy with iSelect Term Plan by Canara HSBC Oriental Bank of Commerce Life Insurance

iSelect term plan is made available by one the most reputed and distinguished BFSI companies in India – Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited. Formed in 2008 through a joint venture of three of the largest banking and financial service organizations of the country, Canara HSBC Oriental Bank of Commerce’s iSelect term plan is ensured to provide viable financial solutions to individuals in times of crisis.

Your promise to your family to take good care of them no matter what the situation, is what drives the company as well in all its endeavours. Canara HSBC Oriental Bank of Commerce aims to fulfill all your financial promises to your dependents by offering you feature-rich and flexible options, ensuring that you’re always in control of the policy’s benefits. Also, the term insurance riders associated with the plan are designed to offer the maximum protection that are supplemented with the basic death benefit.

By embedding these core principles of treating customers in a fair and transparent manner, the company not just makes it easy for you to avail the true benefits of term insurance, but also allows you to customize the plan as you see fit.

The combined expertise of Canara HSBC Oriental Bank of Commerce brings to the table legacy of three major banking and financial corporations with a huge amount of experience in a broad spectrum of finance solutions for individuals. With their steadfast expertise, trust & transparency, they have gained the confidence of 115+ million customers, enabling and empowering the financial aspect of their lives. In fact, the company’s Q4 earnings ending March 2018 grew 69% with a large penetration in urban Tier-1 and Tier-2 cities. The company is also one of the fastest growing insurance companies in the Tier-3 & Tier-4 regions, making it the preferred choice for all first-time insurance buyers.

Canara HSBC Oriental Bank of Commerce also aims to make term insurance a standard must-have for every family, just as simple as owning a vehicle, without the overburdening pressure of high premiums. To this effect, it works to maximize the benefits, lower payable premiums, speedy claims processing, flexible payment options, and a host of additional convenient options for customers to take advantage of. The term insurance plans offered by the company are created with the objective of making it viable and affordable to all segments of society, empowering them to be financially secure in the long run.

With a strong network of over 8,500 partner bank branches that blankets pan-India, you’re never too far to visit Canara HSBC Oriental Bank of Commerce to talk to an advisor, buy a term plan, or just to have your queries answered. You can also choose to buy a term plan online from the comfort of your home by logging in to the official website and browsing through the available options. No more dealing with agents or middlemen, and no more standing in queues. With reduced documentation and paperwork, buying a term plan from Canara HSBC Oriental Bank of Commerce online is as easy as shopping from your favourite brands online. Search, compare and buy the ideal plan for your family with trusted compliance and information you can always bank on.

The iSelect term plan is a highly popular term insurance cover which is among the top insurance plans of the company. The plan has multiple coverage aspects with provision for life insurance, terminal illness, and protection against any form of accidental disability or death.

However, the most important aspect of all is the benefit of providing a steady income for the family when it’s needed the most. It ensures uninterrupted continuity of the family’s needs such as kid’s education, daily expenses and other requirements with high ease of financial payments.

What is “smart” about the iSelect term plan

The iSelect term plan offers you plenty of additional benefits over a plain vanilla cover that you find in the market. For example, you are provided with an option to increase the term cover by 25% every 5 years at the inception of the policy itself. This makes perfect sense as your financial goals don’t remain stagnant all the time. Depending on your financial growth, you can take advantage of this benefit and increase the original sum assured by up to 100% during the duration of the policy!

iSelect term plan also gives you an option to cover your spouse within your policy. In our everyday lives, we don’t realise how much our stay at home spouses contribute to our lives and it’s growth. Thus, covering your spouse within your term insurance is an extremely wise decision.

You could also opt for Optional built-in covers such as accidental death, and accident total and permanent disability by paying an additional premium. In case of accidental death, the term plan allows your beneficiary to avail the accidental benefit sum insured + additional lump sum amount (which is the same as the accidental sum insured), along with the original term plan sum insured. The maximum accidental death benefit cover amounts to Rs. 3 Crore. In the case of accident total and permanent disability, the overall benefit amount can go up to Rs. 1 Crore.

Another great feature worth noting is the Flexible options for the Payout of Benefits. Here, the insured gets to choose how the payout is made in the times of an untimely demise or terminal illness such as –

  1. Lumpsum
  2. Lumpsum + Monthly
  3. Monthly for a fixed term
  4. Monthly till the end of policy term

This kind of flexibility in payouts lets you plan ahead for the financial well-being of your family in a smarter way without putting them at risk.

You can also find additional benefits of the iSelect term plan such as special premium amounts for non-smokers, lower premium amounts for women, tax savings on premiums and benefits availed, and more.

To know more about the criteria and the exact premium rates, please visit

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