Canara HSBC Young Term Plan vs India First Life Guaranteed Protection Plus

Canara HSBC OBC Company has a record of settling 100% of claims in under 30 days. Canara HSBC Life Insurance Company has a claim settlement ratio of 99.01%, along with a claim amount settlement ratio of 96.42%. They have received a higher number of complaints compared to other insurers. Furthermore, they have a short claim form, dedicated toll-free claim support, and the added benefit of a personal relationship manager for claims. They also offer the convenience of an online tracking system for claims. However, it's important to note that they do not offer home pick-up of claims.

India First Life Insurance Company has settled 99.73% of their claims within 30 days but with a higher number of claim-related complaints, compared to other insurers. Their estimated claim settlement ratio is 97.04%, and their estimated claim amount settlement ratio is 91.10%. And, you can track your claim online. However, there are a few limitations. The company does not offer personal relationship managers for claims, home pickup of claims, or toll-free claim support. They also offer a very long form for claims.

You can contact Canara HSBC OBC Company, either through their toll-free telephone number or Twitter. According to our research, it appears that their response rate on Twitter and their toll-free number are both average, compared to other insurers. This means you or your family may not get timely assistance on both of these platforms.

India First Life Insurance Company can be reached via their toll-free number and Twitter. However, the response rate on the toll-free number is slow and Twitter is average, compared to other insurers. This means your family may not get prompt assistance for your queries.

A variety of customization options are available with Canara HSBC Young Term 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 Young Term Plan offers a life cover up to the age of 99 with several limited payment options like 5-pay, 10-pay, 15-pay, 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 Young Term Plan offers a Critical Illness Rider, Waiver of Premium for Critical Illness Rider, Waiver of Premium for Accidental Disability Rider, and an Accidental Death Benefit Rider.

The India First Life Guaranteed Protection Plus Plan offers a wide range of customization options. However, the plan doesn’t have an increasing cover feature. India First Life Guaranteed Protection Plus Plan offers coverage for up to 99 years, with a variety of rolling limited payment options, ranging from 5 to 40 years. Premiums can be paid monthly or annually. You can choose from multiple claim payout options, including one-time lump sum and lump-sum with monthly income option. The India First Life Guaranteed Protection Plus Plan offers only a Waiver of Premium Rider for Critical Illness and Accidental Disability. A rider is an optional add-on that provides extra protection and peace of mind - so you can be fully prepared for anything life may bring.