Canara HSBC Life Insurance introduced the Alpha Wealth plan to provide extensive financial security for policyholders and their families. The plan encourages long-term savings, with loyalty additions and wealth boosters enhancing the attractiveness of the plan.
- The product offers increased flexibility, allowing investors to modify premiums, premium payment terms, policy duration, and sum assured to accommodate evolving financial requirements.
Note:
- Canara HSBC Life Insurance Company Limited is a joint venture (JV) promoted by Canara Bank (51%) and HSBC Insurance (Asia Pacific) Holdings Limited (26%), established in 2008.
Features:
i.The insurance plan is flexible in terms of providing to choose from 3 plan options based on the life stages:
- Alpha Invest Plus
- Alpha Premium Plus
- Alpha Life Plus
ii.Alpha Premium Plus offers an additional layer of protection that ensures financial responsibilities in the absence of the policyholder.
- The nominee will receive a lump sum death benefit and waiver of future premiums in case of the policyholder’s death during the term.
- The nominee also receives the fund value at policy maturity.
- Systematic Withdrawal Option (SWO) and Milestone Withdrawal Option (MWO) empower policyholders to access wealth strategically.
Canara Bank Launched New Products & Services on its 118th Founder’s Day
Canara Bank, a public sector bank in India launched new products and services for customers on its 118th Founder’s Day (19 November). These include Corporate ai1, Whatsapp Banking Channel, and Canara Unified Payments Interface (UPI) 123 Pay.
Note: Canara Bank commemorates the Founder’s Day in memory of its founder, the Late Ammembal Subba Rao Pai, a philanthropist, who established the Canara Hindu Permanent Fund in Mangalore(Karnataka), on 1 July 1906.
Key People:
K Satyanarayana Raju, Managing Director (MD) and Chief Executive Officer (CEO) of Canara Bank along with the executive directors introduced the products and services.
About the new products and services:
1.Corporate ai1:
i.It is an application providing a comprehensive 360-degree view of dashboards, forex transactions, and trade finance services like Letter of Credit (LC) and Bank Guarantee (BG), along with a bulk payment option.
ii.It would provide the various needs of the Corporate Customers of the Bank, who can perform Banking transactions through Corporate Internet Banking and also on the ‘Canara ai1 Corporate’ App interchangeably.
2.Whatsapp Banking Channel:
It provides 18 services to customers such as balance inquiries, mini statements, account opening, deposit opening, etc by simply sending a Hi/Hello message to 9076030001.
3.Canara UPI 123 Pay:
It is an Interactive Voice Response (IVR) based UPI solution offered to feature phone users, allowing UPI registration, Peer to Peer (P2P) payments, balance inquiries, and UPI pin resets.
- Account holders of any bank can avail of this facility in 10 Indian languages including English.
Recent related News:
RBL Bank, formerly known as Ratnakar Bank, has launched the GO Savings Account, a zero-balance digital banking product. The account has a subscription-based model, means it will replace minimum balance requirement, thus, finishing the hassle of maintaining a minimum balance.
About Canara Bank:
MD and CEO– K.Satyanarayana Raju
Headquarters– Bengaluru, Karnataka
Founded on– 1 July 1906
Tagline– Together we can
