Canara HSBC Oriental Bank of Commerce Life Insurance has launched its Smart Stage Money Back Plan which offers regular guaranteed money back to the clients.

Smart Stage Money Back Plan provides three guaranteed money back payouts of 15% of the sum assured each at the end of 4th, 8th and 12th policy year.

In addition, a guaranteed maturity benefit of about 55% of the sum is also paid at the end of the policy term, as well as family protection for 15 years through payout of death benefit. It offers a limited payment term of 11 years.

Canara HSBC Oriental Bank of Commerce Life Insurance chief executive officer John Holden said that based on consumer insights, the product was designed to meet their lifestyle and life stage requirements and provide multiple survival benefits to the customer in the form of guaranteed money back at regular intervals.

"The plan also provides family protection by way of life cover and maturity benefit making it a smart plan for the customers," Holden added.

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