MouthShut.com Would Like to Send You Push Notifications. Notification may includes alerts, activities & updates.

OTP Verification

Enter 4-digit code
For Business
×
transparentImg
Upload Photo
Canara HSBC Life Insurance Image

MouthShut Score

18%
1 

Customer Service:

Claims Settlement:

Premium:

Range of Plans:

Staff Attitude:

×
Supported file formats : jpg, png, and jpeg


Cancel

I feel this review is:

Fake
Genuine

To justify genuineness of your review kindly attach purchase proof
No File Selected

Canara HSBC Life Insurance Reviews

pune India
Modus operandi of HSBC and HSBC Canara
Mar 01, 2015 04:22 PM 36235 Views

I cannot agree more with the other posting as I am a victim of HSBC here. I was a proud HSBC premier customer for 13 years and finally they cheated me systematically now I am paying the premium through my nose.


following is the modus operandi,


1) identify a customer that trusts the relationship manager and signs where ever he asks and follows banks instructions.


2) Sale couple of policies and build the trust further


3) finally sale a secure smart policy saying that its only for 3 years policy and you can surrender after 3-4 years.


4) customer starts paying policy premium and realizes after 3rd years that he has to pay for next 10 years.


what a catch


now if you want to surrender policy after 4 years.


you will get


30% of total premium paid - first premium


so if you premium is 100 Rs in 4 years you pay 400 Rs and in case you surrender, bank  will return ONLY  Rs 20 . LOL in my opinion government should ban HSBC and HSBC Canara from Insurance business.


NOTE: I am not from a rival company employee. I am a Insurance SCAM Victim if needed you can reach me for more clarification. I am also planing to start a awareness campaign against these guys.


HSBC Guys called to know if I have posted this on MS. They are investigating this further.


167 reads in 10 days! Friends, I am planing to lunch a website insurancescam.in in sometime. where we will be able to share our insurance pains and hope that, it would help readers to be careful while getting cheated by banks in the name of Investment.


Thanks


Samir


Avoid at all costs
Oct 10, 2014 04:20 PM 35598 Views

The company is a venture between HSBC, OBC and Canara bank. All insurance policies sold by the company are either sold forcefully (to bank's customers) or by fraud (by agents).


All policies have unacceptable charges, low returns and super super poor customer service. Company charges 10-14% money as annual charges on ULIPs. Also, returns on policy are nonsense


Avoid this company at all costs.


YOUR RATING ON

Canara HSBC Life Insurance
1
2
3
4
5

Recommended Top Articles

Recent Questions and Answers on Canara HSBC Life Insurance

500
Have a question? Ask away!

X