Business Daily from THE HINDU group of publications
Monday, Oct 26, 2009
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Business Daily from THE HINDU group of publications Monday, Oct 26, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Life Insurance Canara HSBC OBC initiative New Delhi, Oct. 25 Claiming of life insurance fund value for family members of deceased policyholders will now become smoother and faster for the customers of Canara HSBC Oriental Bank of Commerce Life (OBC) Life Insurance. The joint venture life insurance company has announced the launch of a new initiative called ‘Immediate Payouts on Death Claim’, according to which from October 25 onwards the family of the deceased will receive the fund value immediately on registration of de ath claim under unit-linked policies. “There are several unexpected costs that arise immediately after a death and at such crucial times, one needs liquid assets that are available quickly. As an industry first initiative, the company will pay the fund value before final decision on the claim, which inevitably takes some time,” said Mr Harpal Karlcut, Chief Executive Officer. — Our Bureau More Stories on : Life Insurance
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