Canara HSBC INVEST4G

During the lifetime of the insured, the plan helps to build up his corpus through its efficient portfolio management mechanism, thus compiling crucial life savings for the post-retirement period. It also provides a life cover to the insured’s family in the event of his demise. The plan thus comes with dual benefits to suit different needs. It is available in 3 plan variants: Life, Care and Century.

Canara HSBC Invest 4G Details:

Benefits of the Canara HSBC INVEST4G

Canara HSBC Invest 4G has a wide range of benefits to offer to its buyers. They are mentioned below:

• Death benefit- The Death Benefit is given to the policyholder’s nominee in the event of the Insured’s death during the plan tenure, the policy being in force, i.e. Canara HSBC Invest policy status is active. This benefit depends upon the plan variant. It will be calculated based on the Sum Assured less withdrawal, the existing Fund Value of the Policy or as a fixed percentage of all the premiums paid.
• Maturity Benefit- This will be based on the existing Fund Value and the cover option chosen. For Life, Care and Century options, the Maturity Benefit is paid as the Fund Value as on maturity and the policy ceases to act thereafter, depending upon the maturity date.
• Fund Additions- The plan offers additions to the investor’s funds in the form of Loyalty Additions and Wealth Boosters. Loyalty additions are added every 5th Policy year, till the end of the premium payment term. Also, if all due premiums of the policy are taken care of, Wealth boosters are added as a percentage mentioned in the policy document.
• Partial Withdrawals available- These are available as Milestone Withdrawal Option or MWO, and Systematic Withdrawal option or SWO. The policyholder can make partial withdrawals from the sixth policy year and they are free of charge.
• Tax Benefits: Tax savings are available for the premiums paid under the policy or the benefits received under the prevailing Income Tax laws.

The tax benefit is subject to changes in tax laws

The Premium for Canara HSBC INVEST4G Plan

Canara HSBC Invest 4G Premium values for Single premium or Annualized Premium under all 3-plan options are as follows:

Life:

• Single-Premium: Rs. 1 Lakh to NO LIMIT
• Limited and Regular Premium: Rs. 24,000 to NO LIMIT

Care:

• Limited and Regular Premium: Rs. 48,000 to NO LIMIT

Century:

• Limited and Regular Premium: Rs. 48,000 to NO LIMIT

One can use Canara HSBC Invest 4G plan calculator to determine different values of premium under various plan covers.

Additional Riders for Canara HSBC INVEST4G

No riders are available.

Eligibility for Canara HSBC INVEST4G

Age of Entry for all the 3 plan covers is:

• Life: From 0 years to 65 years
• Care: From 18 years to 50 years
• Century: From 18 years to 65 years

Age of Maturity for all 3 plan variants is:

• Life: From 18 years to 80 years
• Care: From 28 years to 80 years
• Century: Up to the age of 100 years

What are the Documents Required to Buy this Policy?

Individuals, who are planning to buy Canara HSBC Invest Plan, need to submit these documents to the Insurer:

• Identity proof - Passport,  Driver license, AADHAR card, or PAN Card
• Address proof - Passport, Driving license, AADHAR card or voter’s card
• Income proof, such as salary statements or ITRs

How to Buy this Plan Online?

Online Canara HSBC Invest Plan is not available directly. Applicants need to go online on the CANARA HSBC website and fill up and submit a personal detail form with their financial and insurance requirements. A financial advisor from Canara HSBC will contact them and guide through the plan purchase process.

Exclusions of Canara HSBC INVEST4G

Canara HSBC Invest Plan reviews have spoken about suicide exclusion in the policy document. Herein, in the event the insured person commits suicide within one year of the policy commencement or the policy revival, his nominee will become entitled to receive the then prevailing Fund Value less extra charges as on the date of intimation of the death. The policy will terminate post the payout.

FAQ's