Canara HSBC Oriental Bank Of Commerce Life Insurance Launches Life Insurance Simulator (LIS)

Online, May 30, 2011 (Newswire.com) - Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited - a joint venture between two of India's largest public sector banks, Canara Bank and Oriental Bank of Commerce, and HSBC Insurance (Asia Pacific) Holdings Limited, announced the launch of Life Insurance

Simulator (LIS) with an aim to make the customer aware of the importance of financial planning. LIS is an interactive financial need assessment software that takes the customer through a series of simple steps to assess the amount he requires for each of his needs and if his current savings and investments are adequate to fulfill them.

A unique application, LIS has an easy to follow conversational style of directions and the availability of different scenarios that help the customer evaluate his financial requirements. LIS is available in English, Hindi and 2 other regional languages - Punjabi and Kannada.

Speaking on the launch, Mario Perez, Director - Sales, Marketing & Products, Canara HSBC Oriental Bank of Commerce Life Insurance Company said: "Financial planning is a process of setting objectives, assessing resources, estimating future financial needs, and making plans to achieve certain goals. It helps you create a stable future and improve your financial status by creating a plan on saving and investing your

money so that it can start working for you. LIS has been designed with an objective to educate the customers about the importance of financial planning. It will also help them in making their financial planning more effective as it focuses on four essential life stages - family protection, child's future requirements, wealth creation and retirement."