Canara HSBC Life Insurance has launched a new guaranteed income plan for the customers of Karnataka Vikas Grameena Bank (KVGB).

Launching Canara HSBC’s ‘Guaranteed Assured Income’ (GAIN) plan in Mangaluru on Tuesday, Shreekant M Bhandiwad, Chairman of KVGB, said the GAIN plan ensures guaranteed benefits and income for life. The plan not only offers an individual the opportunity to secure his/her life but also allows one to have regular income to take care of both long-term and short-term financial goals.

The bank has done an insurance business of ₹13 crore during the current fiscal, he said.

KVGB has 629 branches in nine districts of Karnataka. Canara HSBC is an insurance company sponsored by Canara Bank and HSBC.

Ragavendra Dharwadkar, Regional Head for Canara HSBC Life Insurance Company, said the life insurance plan is thoroughly designed to provide families with unmatched financial stability and security. GAIN offers a guaranteed regular income stream with the flexibility to get the premiums back at the end of the policy term. This policy is available in all the branches of KVGB, he added.