Canara HSBC Life Insurance Launches EZ Pension Plan with Policybazaar

Canara HSBC Life Insurance, in partnership with Policybazaar, has launched the EZ Pension Plan, an individual linked pension product aimed at helping customers accumulate retirement savings with flexibility and potential market-linked growth. This launch addresses the growing need for structured retirement planning solutions amid changing demographics, as India's elderly population is expected to nearly double by 2050 according to the India Ageing Report 2023. The EZ Pension Plan offers a disciplined savings approach designed to build a retirement corpus over time, catering to the financial independence of retirees. The product features options that allow policyholders to adjust investments based on different life stages and priorities. Canara HSBC Life Insurance leverages its extensive bancassurance network and distribution channels to deliver this product, enhancing its portfolio of individual and group insurance solutions. Policybazaar’s role as a distribution partner aligns with the increasing demand for accessible, digitally-enabled retirement planning tools that accommodate evolving lifestyle and financial needs. The introduction of the EZ Pension Plan reflects broader market trends emphasizing retirement readiness, cost of healthcare considerations, and the pursuit of long-term financial security through innovative insurance products.