Canara HSBC Oriental Bank of Commerce Life Insurance today expanded its online product suit with the launch of iSelect term plan meant for family protection, reported PTI.

ISelect term plan provides enhanced protection cover for the family at an affordable premium, the company said in a release.

Canara HSBC OBC Life Insurance claims the product to be highly cost effective. It will cover insured person's spouse as well as family's future income with an option to automatically increase insurance coverage as per changing life stage needs, the company said.

"Our iSelect Term Plan is a pure protection online term plan that provides life insurance cover along with the option to cover against accidental death/ disability," said Anuj Mathur, Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company.