Canara HSBC Partners with GIC Housing Finance for Credit Life Insurance

Canara HSBC Life Insurance Company Limited and GIC Housing Finance Limited have formed a strategic partnership to offer credit life insurance to home loan customers in India. This collaboration aims to provide enhanced financial security to borrowers, ensuring protection against loan liabilities in unforeseen circumstances. The Group Asset Secure product will serve as a comprehensive financial solution, reinforcing the commitment to customer-centric services.

The partnership supports India's homeownership ambitions, with GIC Housing Finance's diverse customer base allowing for broad access to this insurance product. Both companies emphasize the importance of financial security in responsible lending, particularly for aspiring homeowners who require such safeguards for their long-term financial well-being.

Statements from executives at both companies highlight the mutual goal of securing families against financial uncertainties that may arise from the loss of a loved one. This strategic alliance blends the lending expertise of GIC Housing Finance with the insurance solutions from Canara HSBC Life Insurance, aiming to create a resilient financial ecosystem for borrowers.