Canara HSBC Invest 4G

A savings plus life insurance plan provides a protection benefit for an individual to save for the future. Moreover, a program that offers a lump-sum payment after the insured's death and builds a portfolio for the long run is crucial. The Canara HSBC Invest 4G is a plan that gives a secure life cover combined with flexible investment options in 8 unit-linked funds. This feature helps one to build funds to protect the family's future. The purpose of this plan is to introduce financial protection and planning for the members of your family, especially the children. The plan has three cover options designed to suit different life stages, like childcare, education, and marriage.

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7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

Investment Plans

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Zero LTCG Tax^

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7.7 Crore

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Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Canara HSBC Invest 4G Plan Details:

Parameters	Details
Policy Tenure	10-30 years, based on cover option and plan For century option: 100-Entry Age
Premium Paying Term	For Life Option- Single Pay; Limited Pay: 5 to PT-1 years; Regular Pay: Same as PT For Care Option- Limited Pay: 10 to PT-1 years; Regular Pay: Same as PT For Century Option- Limited Pay: 10 to PT - 1 year; Regular Pay: Same as PT *PT is Policy Tenure
Premium Paying Mode	Single, Monthly, Quarterly, Semi-Annual, Annual
Entry Age	0 to 65 years based on plan variant and cover option
Maturity Age	18-100 years based on plan variant
Grace Period	30 days (15 days for monthly)
Sum Assured	Life Option- Single Pay: 1.25 or 10 times Single Premium; Limited Pay /Regular Pay: 10 times Annualized Premium Care Option- Limited Pay /Regular Pay: 10 times Annualized Premium Century Option- Limited Pay /Regular Pay: 10 times Annualized Premium
Liquidity	Systematic Withdrawal/ Milestone Withdrawal options during the policy term Partial withdrawal allowed after 6^th policy year

Benefits of Canara HSBC Invest 4G

Canara HSBC Invest 4G Plan has the following core benefits to offer:

Death Benefit

Life Option/ Century Option: The greater of sum assured or the Fund Value will be payable
Care Option: Upon the insured's death, a lump-sum payment gets paid

Maturity Benefits

One can get the Fund Value on the maturity of their Canara HSBC Invest 4G Policy.

Portfolio Management Options

One can choose any one of these eight funds as per their risk preference:

Emerging Leaders Equity Fund
Equity II Fund
India Multi-Cap Equity Fund
Growth Plus Fund
Large Cap Advantage Fund
Balanced Plus Fund
Debt Fund
Liquid Fund

Alternatively, you get to select among the four options for wealth-creation and portfolio management:

Systematic Transfer Option (STO)
Return Protector Option (RPO)
Auto Funds Rebalancing (AFR)
Safety Switch Option (SSO)
Loyalty Additions
Wealth Boosters

Tax Benefits

Tax benefits under the policy are subject to amendments in prevailing tax laws.*

*Tax benefit is subject to changes in tax laws.

The Premium for Canara HSBC Invest 4G

The Canara HSBC Invest4G premium amounts for the different cover options are:

Life Option

Single-Premium: 1,00,000*

Annual Premium: 24,000

Half-Yearly- 12,000

Quarterly- 6,000

Monthly- 2,000

*Standard T&C Apply

Care/Century Option

Annual Premium- 48,000

Half-Yearly- 24,000

Quarterly- 12,000

Monthly- 4,000

Maximum Premium: No Limit

Moreover, people can utilize the Canara HSBC Invest4G calculator to get an estimate about the premium sum.

Additional Riders for Canara HSBC Invest 4G

The Canara HSBC Invest4G policy does not come with any riders. However, there are options to manage your portfolio with Premium Funding Benefit, Systematic and Milestone withdrawals, and multiple portfolio management options.

Eligibility for Canara HSBC Invest 4G

Life Option
- Entry age- 0 to 65 years
- Maturity- 18 to 80 years
Care option
- Entry age- 18- 50 years
- Maturity age- 28- 80 years
Century Option
- Entry age- 18- 65 years
- Maturity age- Up to 100 years

What are the Documents required to Buy this Policy?

To buy Canara HSBC Invest4G, prospectors require:

Proof of identity: AADHAR card, passport, PAN card, driving license, or Voter ID Card
Age Proof: To verify if you are eligible for a policy
Proof of Address: In the form of a passport, PAN card, and other documents
Income Proof: Form 16 or Income Tax returns
Medical Reports
Photographs

How to Buy this Plan Online?

A common myth of insurance buying is that it is a long process requiring a ton of paperwork. Fortunately, you can buy Canara HSBC Investing4G online. Here's the method to purchase it:

Step 1: Visit the insurer’s website.

Step 2: Enter your name, email ID, and mobile number.

Step 3: Agree to the Privacy Policy.

Step 4: Click "Contact Me," and a call back will get arranged for you at the earliest.

You can also approach Policy bazaar and provide your details for purchase assistance.

Exclusions for Canara HSBC Invest 4G

Canara HSBC Invest 4G reviews are predominantly favourable. Moreover, it is a comprehensive plan giving both savings and opportunities for wealth creation. There is exclusion: the suicide exclusion, which states that the Policyholder is entitled to the Fund Value if death due to suicide occurs within 12 months of commencement. The policy terminates after that.

FAQs

Q. How does this life insurance policy from Canara Bank work?
Ans: There are three steps to finalizing the cover option and estimating the premium amount. They are as follows:
- Deciding the cover option and premium amount
- Choosing the premium payment term, policy term, and SA Multiple (in case of single premium payment)
- Choosing from a bouquet of eight unit-linked funds with variable risk appetite
Q. Under what conditions does the policy terminate after payment of death benefits?
Ans: There are three modes of compensation for the family:
- The sum assured minus withdrawals, if any, in the last two years
- Fund Value as of the date of intimation of claim
- 105% of the premiums paid up to the date of death
If any of the above payments have gotten paid off, then the policy will get terminated.
Q. What is the lock-in period for Canara HSBC Invest 4G?

Ans: When you buy Canara HSBC Invest4G, the lock-in period is of 5 consecutive policy years. During this time, no benefits are available except compensation upon the untimely death of the assured.
Q. What do the four portfolio management options do?
Ans: Here are the functions of the portfolio management options:
- Systematic Transfer Option (STO): It is for investors worried about market volatility
- Return Protector Option (RPO): This option protects your equity gains
- Auto Fund Rebalancing (AFR): It automatically rebalances the allocation of your investments
- Safety Switch Option (SSO): It allows you to safeguard your funds by moving them to a low-risk Liquid Fund
Q. Is it possible to revive this life insurance once the Canara HSBC Invest4G policy status gets deemed discontinued?

Ans: Yes, it is possible, and all one must do is pay the unpaid premiums and the interest fee under the Revival period. The company will alter one's Canara HSBC Invest4G policy status back to active.
Q. How do the loyal additions and wealth boosters work?

Ans: Loyal additions offer fund value related Loyalty Additions at every 5th year from the end of the 5th year of your Canara HSBC Invest 4G Policy. Canara HSBC Invest 4G wealth boosters provide a unit allocation to Unit Linked Funds at specific policy intervals.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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