Mangalore, Nov 07: Canara HSBC a life Insurance Company which is having an MOU with Karnataka Vikas Grameena Bank (KVGB) has brought out a new guaranteed income plan in the name of GAIN and Shreekant M Bhandiwad, Chairman, KVGB has launched the same at Mangalore (Ocean Perl Meeting Hall) on Tuesday. Releasing the product he said that Canara HSBC Life Insurance has rolled “Guaranteed Assured Income (GAIN)” Plan which ensures guaranteed benefits and income for life. The plan is a non-linked and which 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 he added. Karnataka Vikas Grameen Bank currently has 629 branches in 9 districts and has total Business of Rs. 33150 crores. Canara HSBC is an insurance company sponsored by Canara Bank and HSBC and the bank has done an insurance business of 13 croresin this fiscal he added.
Ragavendra Dharwadkar, Regional head for Canara HSBC life Insurance co. said that the life insurance plan is thoroughly designed to provide families with unmatched financial stability and security in a longer run. GAIN offers guaranteed regular income stream with the flexibility to get the premiums back at the end of policy term. This policy is available in all the branches of Karnataka Vikas Grameen Bank and deduction of up to Rs 1.5 lakh can be claimed in the old tax regime under section 80C of the Income-tax Act, 1961 he added.
Bank’s Mangalore Regional Manager Vijay Dhotihal, Chief Manager, Marketing Ullas Gunaga, and others were present on the occasion.
Shreekant M Bhandiwad, Chairman, Karnataka Vikas Grameena Bank launched a NEW life insurance policy of Canara HSBC which offers guaranteed & assured fixed income along with income tax benefit, at Mangalore on Tuesday. Ragavendra Dharwadkar, Regional head for Canada HSBC, Bank’s Mangalore Regional Manager Vijay Dhotihal, Chief Manager, Marketing Ullas Gunaga, and others were present on the occasion.