Canara Bank is launching “Canara Freedom Suraksha”, a life insurance cover of Rs 1 lakh for all its savings bank customers as a value-added service at a very nominal premium.
Bank Executive Director A K Gupta said the facility is being launched on Tuesday in association with its joint venture company Canara HSBC Oriental Bank of Commerce Life Insurance Company.
The cover is extended without any medical test and merely on a declaration of good health by customers and covers both natural and accidental death, he said.
The annual premium rates (inclusive of service tax) are Rs 177, Rs 366 and Rs 988 for age groups of 18-35, 36-50 and 51-59, respectively.
Keywords: Canara Freedom Suraksha scheme, life insurance cover of Rs 1 lakh, Bank Executive Director A K Gupta, Canara HSBC Oriental Bank of Commerce Life Insurance Company
Comments:
Excellent Scheme. Canara bank can also full-fill its founding principles of helping the poor and downtrodden by contributing a part of the premium to this neglected group, like the Yeshswini insurance and also drawing the scheme in the lines existing in State Bank of India where the Premium is Rs.100/- for all age groups covering insurance of Rs.4.00. Canara Bank is the Ist Bank started Education loan to help the poor and meritorious students and Contributing to the Rural youth economic development through RUDEST free training centers. An opportunity to provide a little hope to the economically downtrodden hearts.
Please Email the Editor