Canara HSBC OBC Life Insurance provides complete coverage for you and your family in the event of a disaster. The insurer's many life insurance products ensure maximum financial security in the event of your untimely death. In this way, the plans can safeguard your child's future and offer a nest egg for your golden years. The best plan offered by the insurance is the final year of life insurance policy provides the benefit of capital protection. The death benefit or capital will be paid to the nominee without getting any taint of death while the original policy holder remains alive. Thus, overall cost can be made more affordable due to this saving in premium over a long period of time. However, these policies are more expensive than term policies and have higher surrender charges at maturity.