Canara HSBC iSelect Smart360 vs SBI Life eShield Next

Canara HSBC OBC Company has settled 100% of their claims in less than 30 days. It is estimated that Canara HSBC OBC Company’s claim settlement ratio is 99.01%, while their claim amount settlement ratio is 96.42%. Additionally, they have an online tracking system for claims, a personal relationship manager for claims, a dedicated toll-free claims service, and a short claim form. On the flip side, they don't offer home pick-up of claims. And, they also have a higher number of claim-related complaints compared to other insurers.

SBI Life Insurance Company has a record of very good performance in both the purchase and claim settlement processes. They have settled 86.16% claims within 30 days and have received fewer claim complaints. Their claim settlement ratio stands at an impressive 93.09%, with a claim amount settlement ratio of 86.22%. They offer a dedicated toll-free claims service. However, they do not provide a personal manager for the customers and there is no opportunity to track your claim online. Home pickup claim services are also not available.

Customers can reach Canara HSBC OBC Company via their toll-free telephone number and Twitter. Based on our research, we found that their Twitter response rate and toll-free service was average, compared to other insurers. This means you or your family are unlikely to get a quick response if you raise any questions or concerns on Twitter.

SBI Life Insurance Company provides customer service through toll-free and Twitter. But, according to our research, their toll-free service is average and their response time on Twitter is slow, compared to other insurers. This might create difficulties for you and your loved ones in times of need.  

A variety of customization options are available with Canara HSBC iSelect Smart 360 Plan. It offers you an increasing cover option in which your coverage by 5% every year until your base policy cover doubles. It is important to note that coverage increases from the second year onwards. Canara HSBC iSelect Smart 360 Plan offers a life cover up to the age of 99 with several limited payment options for 5, 10, 15, 20, 25, pay till 60 years with premiums payable on a monthly, quarterly, half-yearly, or annual basis. Claim payout options include a one-time lump sum option, monthly instalment option, and a combination of both. Canara HSBC iSelect Smart 360 Plan offers a Critical Illness Rider, Waiver of Premium Rider for Critical Illness Rider, Waiver of Premium for Accidental Disability Rider, and an Accidental Death Benefit Rider.

SBI Life eShield Plan provides flexibility and customization to meet your specific needs. There are several benefits of SBI Life eShield Next Plan, one of them is to increase your coverage by 10% from 6th policy year until the base cover gets doubled. Your coverage increases at the end of every 5th year. The SBI Life eShield Plan offers a life cover up to the age of 85 years (99 years if entry age is more than 45) with Limited Pay options like 5, 7, 10, 12, 15, 20, and (PT - 5) years. It also offers claim payout options, like one-time lump sum and monthly instalments. SBI Life eShield Plan comes with an Accidental Death Benefit Rider to help your family cope financially with unfortunate situations.