Canara HSBC OBC Life Insurance Premium Calculator
It is needless to say that Canara HSBC OBC is one of the most trusted life insurance providers in India. But, if you have selected this company as your desired insurer, you might get confused about which plan you should go for, as this insurer has a sack full of unique life insurance plans. But do not worry. This company has a solution for your problem also that is their life insurance premium calculators that will help you to find out the suitable life insurance policy for yourself.
These calculators calculate the premium on the basis of your given data almost accurately and give you an estimate of how much you need to pay for your chosen options. Not only that but also, these calculators are capable of giving you an idea of how much financial corpus you need to build to reach your short-term and long-term goals. On the basis of that, you can choose your policy as well. These calculators are so user-friendly and smooth that you should not face any glitches in calculating your premiums if you follow the steps correctly. So today, we are going to talk about every detail that you need to know about the life insurance premium calculators of this company.
Why Should You Opt For Canara HSBC OBC Life Insurance Premium Calculator?
If you are thinking about why it is so important to use premium calculators to determine your life insurance plan, here are the reasons.
Free of Cost – Canara HSBC OBC is a super customer-friendly company. so, it has kept its premium calculators open for all, and that too at free of cost. Yes, you heard it right. You can use these online tools without even spending a penny. In this world where everything comes with a price, why won’t you take the benefit if it is free?
Smooth and Easy – This company always puts emphasis on the customer experience. So, it has built its website and the premium calculators in such a way that even if you are a novice in terms of internet use, you can easily calculate the premiums if the steps are followed correctly.
Not Time-Consuming – If you calculate the premiums manually, that will certainly take a load of time. But if you do the same job online using this online tool, that will save you valuable time that can be used somewhere productively.
Reduces Chances of Human Errors – Offline or manual work is always prone to human errors. But if you use machines for the same work, that can give the results more accurately. Similarly, this online premium calculator tool reduces the chances of making mistakes, and you can get more appropriate results.
Paperless Work – This online tool promotes paperless work, which denotes that you do not have to worry about handling piles of papers. This is much relieving as there are no chances that your papers will get lost or destructed.
Plan Your Financial Budget – We all need to plan our financial budget to run smoothly. once you get to know about the premium amount that you need to pay towards your policy, you can plan your finances according to that. This also helps you to save money, and who does not want to save money?
Fulfill Your Dreams – Once you have planned your finances systematically and started to save money, you can easily fulfill your dreams gradually. So, in this way, this premium calculator helps you to allocate the money as per your needs.
Different Types of Premium Calculators Of Canara HSBC OBC Life Insurance
To make the work easy for their customers, this company has come up with a bunch of life insurance premium calculator options. The following table contains all the types and their brief details.
|Name of the calculator
|Brief description of the calculator
|It is an online tool that helps you to calculate how much amount you need to accumulate to spend your post-retirement life worry-free on the basis of your given data. It also suggests the suitable plan for you available with the insurer and lets you know about the approximate premium amount that you need to pay for that selected policy.
|Term insurance calculator
|This facility of the company helps you to estimate the life insurance cover you will need based on your income and savings. Now, you can easily calculate term insurance premiums online and know the best term insurance plans for you available under this insurer.
|Child education planning calculator
|You should use this tool before selecting any plan for securing your child’s future as this tool accurately find out how much money you need to save for your child’s education and also the premium amount for the chosen options. This takes into consideration various factors, including future inflation.
|It helps you to assess your investment for an adequate pension later and to check if your current retirement investments are enough to provide you with the pension you will need. It works with a pension calculation formula based on the details you enter and provides you with the expected amount of pension you will receive.
|This tool makes you eligible to estimate the returns from a ULIP plan and assess your investment amount. The calculator considers your investment plan parameters and provides you with better clarity regarding your investments.
|This online tool comes with professional accuracy to offer you an estimate that you need to build over a certain period of time to achieve your goals. In this way, it also helps you to plan your financial budget accordingly.
How To Use Canara HSBC OBC Life Insurance Premium Calculator
Once you know the details and importance of the life insurance calculators available with this insurer, you must be curious to know how to use them. So, here is the process. Do check this out.
- Go to the official website of Canara HSBC OBC Life Insurance Company.
- On the top of the homepage, there will be the Calculators tab. Click on it.
- Multiple options will appear before you. Choose the correct calculator option according to your need.
- After that, you need to put certain details as per your chosen option such as your age, retirement age, annual income, your contact details, etc. Remember, the required information will vary as per your selected policy or purpose.
- Do put the data correctly in the right places. Remember, on the basis of your details only, the calculator will calculate the premium amount.
- Once you are done with your putting the details, click on the Submit option.
- On the basis of the given information, the results will display before you.
- Your job is done. According to that, you can now select a policy of your choice available with the insurer and buy the same by paying the shown premium value.
How Does Canara HSBC OBC Life Insurance Premium Calculator Work?
To make it more explicit and understandable for you, here is an example that will provide an idea of how this premium calculator works under this insurer. Have a look.
Suppose, Mr. Dutta, a 36-years old businessman, wants to buy a savings plan. For that, he researched the life insurance market, and after an extensive evaluation, he chose Canara HSBC OBC Life Insurance Company as his desired one. But now he is confused about what type of savings Plan he needs, and how many expenses he has to bear for that. For that, he visited the official website of the company and used the free facility life insurance premium calculator offered by the company. He went to the Calculator tab available on the top of the homepage, and from there selected the Savings Calculator option. There he put the details such as his age, plan option, policy term, premium paying term, etc. After putting all the required information, he calculated the premium. Now, look at the following table that illustrates how much premium value he has to pay for his given details along with the guaranteed maturity benefit.
|Post-graduate and above
|Rs. 15 lakhs
|Guaranteed Savings Option
|Premium paying term
|Payable premium amount
|Guaranteed maturity benefit
|Guaranteed maturity benefits break-up
Guaranteed sum assured: Rs. 2,70,821
Guaranteed additions: Rs. 1,86,164