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.
Speaking at the launch, John Holden, Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance, said, "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."
The new life insurance plan is available pan-India in around 6000 branches of Canara Bank, HSBC, Oriental Bank of Commerce, Shreyas Gramin Bank, Kerala Gramin Bank (formerly known as South Malabar Gramin Bank) and HSBC InvestDirect Securities (India) Limited.
--IBNS (Posted on 06-08-2013)