The Canara HSBC ULIP Plan is a comprehensiveinsurance product offered by Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited. ThisUnit Linked Insurance Plan (ULIP) seamlessly combines the benefits of life insurance with investment opportunities. It allows you to secure your financial future while participating in the potential for market-linked returns.
Returns as on 14-09-2026. The returns are the returns of best-performing fund in the plan
Disclaimer : ˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s
insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.inRead MoreRead Less
Key Features of Canara HSBC ULIP Plans
Return of Mortality Charges:
Select plans return mortality charges deducted during the policy term, which are added back to the fund value at maturity.
Loyalty Additions and Wealth Boosters:
Plans such as Promise4Growth Plus, SecureInvest, and Wealth Edge include loyalty additions, maturity boosters, or wealth boosters linked to policy continuation and fund value.
Extensive Fund Choice:
Depending on the plan, policyholders can access between 11 and 15 fund options spanning equity, debt, and balanced allocations aligned with different risk appetites.
Advanced Portfolio Management Strategies:
Canara HSBC ULIPs include features such as Systematic Transfer Option (STO), Return Protector Option (RPO), Auto Fund Rebalancing (AFR), Safety Switch Option (SSO), and Loss Protector Strategy (LPS) to manage market volatility and investment allocation.
Flexible Life Cover Structures:
The product range includes long-term life protection, with selected variants extending cover up to 100 years of age, alongside premium funding benefits in certain options.
Liquidity-Oriented Features:
Eligible Canara HSBC investment plans include facilities such as Systematic Withdrawal Option (SWO) and Milestone Withdrawal Option (MWO) to support periodic withdrawals aligned with financial milestones.
Flexible Premium and Policy Terms:
Single pay, limited pay, and regular pay structures across varying policy durations provide room for different investment horizons and affordability preferences.
Why Invest in India's Growth Story?
Investors today are increasingly moving beyond traditional savings avenues and exploring solutions that combine wealth creation with financial protection.
Retail participation in equity-linked investments has continued to strengthen. India’s life insurance sector has witnessed steady expansion, with new business premiums remaining strong as individuals increasingly prioritise protection-led financial planning.
This structural shift becomes particularly relevant for long-duration investment products such as ULIPs, where staying invested over longer horizons may allow policyholders to participate in market growth while maintaining life cover.
Canara HSBC Life ULIP plans align with this broader investment trend. It is a unique financial product that combines insurance and investment. ULIP stands for Unit Linked Insurance Plan . It works by allowing you to invest a portion of your premium in different investment funds, such as equity, debt, or a mix of both. The performance of these funds influences the returns on your investment.
What sets the Canara HSBC ULIP Plan apart is that it not only provides life insurance coverage but also gives you the flexibility to choose how your money is invested. This means you have the potential to earn returns based on market performance while ensuring financial protection for your loved ones through the insurance component.
In essence, it is a two-in-one solution that caters to both your insurance needs and investment goals, offering a personalised approach to financial planning.
Video
information
The Indian Investment Boom: Opportunities You Can't Afford to Miss!
How Much Historical Returns are Provided by the Plans?
Investment Scenario
Monthly Investment:
₹22,000
Investment Duration:
18 years
Exit Timeline:
At Policy Maturity
Product Category:
Market-Linked ULIP Plans
Scenario 1:
Returns @ 4%
Plan Name
Estimated Maturity Value
Assumed Return Rate
Canara HSBC Life Insurance Wealth Edge
₹81.7 L
4%
Canara HSBC Life Insurance SecureInvest
₹79.9 L
4%
Canara HSBC Life Insurance Promise4Growth Plus
₹77.8 L
4%
Scenario 2:
Returns @ 8%
Plan Name
Estimated Maturity Value
Assumed Return Rate
Canara HSBC Life Insurance Wealth Edge
₹1.47 Cr
8%
Canara HSBC Life Insurance SecureInvest
₹1.43 Cr
8%
Canara HSBC Life Insurance Promise4Growth Plus
₹1.40 Cr
8%
Note:Since ULIPs are market-linked products, actual returns and maturity values may vary depending on fund performance, asset allocation, policy continuation, applicable charges, and market conditions.
For instance, SecureInvest carries 2X return of mortality and allocation charges, while Promise4Growth Plus includes loyalty additions and wealth boosters, and Wealth Edge combines return of mortality charges with loyalty additions and multiple portfolio management strategies.
Benefits of Canara HSBC ULIP Plans
Life Cover Alongside Investing:
Selected variants also extend coverage up to 100 years of age.
Potential Corpus Enhancement Through Charge Returns:
Certain plans return mortality charges, while SecureInvest additionally includes return of 2X mortality and allocation charges.
Portfolio Management Flexibility:
Investment strategies such as STO, RPO, AFR, SSO, and LPS enable policyholders to manage volatility, rebalance portfolios, and align investment allocation with market conditions and risk preferences.
Loyalty Additions and Wealth Boosters:
Long-term policy continuation may unlock additional fund value through loyalty additions, maturity boosters, and wealth boosters in select plans.
Liquidity for Financial Milestones:
Eligible plans allow access to accumulated wealth through partial withdrawals, Systematic Withdrawal Option (SWO), and Milestone Withdrawal Option (MWO) after applicable conditions are met.
Tax Efficiency:
Premiums paid and benefits received may qualify for tax treatment under prevailing income tax laws, subject to applicable conditions and regulatory provisions.
List of Canara HSBC ULIP Plans
Canara HSBC Life Insurance Company offers a range of Unit Linked Insurance Plans (ULIP) for its customers to reap the benefits of market-linked returns and at the same time enjoy life insurance protection.
The following are the different types of Canara HSBC ULIP plans offered by the company:
Let us learn about the above-mentioned Canara HSBC ULIP plans in detail in the following sections.
Canara HSBC Life Insurance Wealth Edge
The Canara HSBC Life Insurance Wealth Edge is a unit-linked insurance plan (ULIP). It is a combination of investment and insurance that provides you with the potential to grow your wealth while also protecting your loved ones in case of your untimely demise.
Key Features of Canara HSBC Life Insurance Wealth Edge
Plan Variety:
The plan allows you to choose from multiple plan options like 'Invest Plus,' 'Premium Plus,' or 'Life Plus' based on your preferences.
Recurring Income Options:
Allows you to enjoy recurring income through Systematic Withdrawal Option (SWO) or Milestone Withdrawal Option (MWO).
Enhanced Fund Value:
The plan offers you the benefit of the return of Mortality Charges, Loyalty Addition, and Wealth Boosters to boost your fund value.
Flexible Customization:
You can modify your premiums, premium payment terms, policy terms, and sum assured for added flexibility.
Canara HSBC Life Insurance Promise4Growth Plus
Canara HSBC Life Insurance Promise4Growth Plus is a Unit Linked Individual Savings Life Insurance Plan. Its main goal is long-term wealth creation, life cover, and legacy-focused financial planning with multiple portfolio management choices.
Key Features of Canara HSBC Life Insurance Promise4Growth Plus
Three Plan Options:
Choice between Promise4Wealth Plus, Promise4Care Plus, and Promise4Life Plus depending on protection and wealth-building priorities.
Return of Mortality Charges:
Mortality charges deducted during the policy term are added back to the fund value at maturity.
Loyalty Additions and Wealth Boosters:
Additions begin from the 5th policy year onwards, with wealth boosters credited at regular milestones for policy continuation.
Premium Funding Benefit:
Under Promise4Care Plus, future premiums are funded by the insurer in case of the life assured’s demise, alongside a monthly income benefit for dependants.
Portfolio Management Flexibility:
Multiple portfolio management choices are available to align investments with different financial goals and market conditions.
Whole Life Cover Option:
Promise4Life Plus extends life cover up to 100 years of age, supporting legacy-oriented financial planning.
Canara HSBC Life Insurance SecureInvest
Canara HSBC Life Insurance SecureInvest is a Non-Participating, Unit Linked Individual Life Insurance Savings Plan. It provides access to multiple fund options across equity and debt-oriented categories aligned with varying risk preferences.
Key Features of Canara HSBC Life Insurance SecureInvest
High Life Cover Structure:
Life cover may extend up to 100 times the annualised premium depending on age and policy term configuration.
2X Return of Charges:
The plan includes return of up to 2X mortality charges and allocation charges, which are credited back to the fund value subject to plan conditions.
Loyalty Additions and Maturity Booster:
Long-term continuation may unlock additional fund value through loyalty additions and maturity boosters.
Advanced Investment Strategies:
Portfolio management tools such as STO, RPO, AFR, SSO, and LPS support fund allocation and volatility management.
Flexible Premium Payment Structure:
Long-term policy and premium payment combinations can be selected based on investment horizon and affordability.
Why Buy Canara HSBC ULIP Plans from Policybazaar?
Over 9 lakh customers have invested ₹12,400 Cr through Policybazaar
No hidden charges. All costs and returns are clearly disclosed
Certified advisors provide unbiased guidance based on your needs
IRDAI-regulated, ensuring advice is in the customer’s interest
Withdrawing your ULIP after 5 years involves different options depending on your specific policy and insurance provider:
Partial withdrawal: This allows you to withdraw a portion of your accumulated fund value, typically within specific limits set by your insurer. Common limits are 10-20% of the total premiums paid.
Surrender: This involves terminating your policy and withdrawing the entire fund value.
Is Canara HSBC ULIP plan good for 5 years?
Canara HSBC ULIP plan is considered good for 5 years for the following features:
Offer life insurance protection along with the potential for market-linked returns
Provide tax benefits on premiums paid (subject to conditions) and maturity proceeds are also tax-free under Section 10(10D) of the Income Tax Act, 1961.
Various fund options cater to different risk appetites.
Allow premium flexibility and fund switching options.
How is Canara HSBC Life Insurance ranked in India?
There is no widely accepted official “overall rank” for life insurers in India. Metrics such as market share, new business premium, claims settlement, solvency, profitability, and customer reviews are used instead.
Customer/Employer Review Platforms
AmbitionBox rating (~3.8/5) may fluctuate over time and reflects employee reviews, not market standing or insurer quality.
Financial Strength
Solvency Ratio: Canara HSBC Life reported a solvency ratio of about 2.0x (200%), comfortably above IRDAI’s minimum requirement of 1.5x. The earlier claim of 2.79 and “12th rank” is inaccurate/outdated.
Claims Paying Ability / Financial Strength: Canara HSBC Life continues to hold CARE AAA (Stable) / CARE AAA (In) level ratings, indicating very strong claims-paying capacity and financial strength.
How to pay a premium? What are the modes of payment available?
The Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. offers 2 modes of premium payment namely:
Cash/ cheque payment at the branch
Online Payment
For the online payment mode, the policyholder can pay via;
Credit Card
Debit Card
Net banking
How can I check policy status for Canara HSBC ULIP plans?
Registered users can check their policy status online by logging into e-Portal.
What is the policy renewal process for Canara HSBC ULIP plans?
You can pay your renewal premium in 5 easy steps online if you are a registered user:
Step 1: Enter your Client ID and Date of Birth to login into e-portal
Step 2: Choose the policy for which you want to pay
Step 3: Select the payment option – Debit/Credit Card or Net Banking to pay
Step 4: Upon successful payment completion, print/save the premium deposit receipt
Alternatively, you can pay via cash/cheque at any of the nearest branches.
What is the company’s process to settle claims for Canara HSBC ULIP plans?
The nominee can visit the branch personally with the policy document and death certificate. The nominee must fill out a claim intimation form and then the company will provide a reference number to them. Usually within 30 days the death claim without investigation cases gets cleared.
What is the policy cancellation process for Canara HSBC ULIP plans?
You can visit the nearest branch personally with your policy documents and a duly filled-out surrender form. Upon successful acceptance at the counter, your policy will be cancelled and refunds will be directly credited to your bank account.
"Canara hsbc life insurance is one of the best insurance company. I took traditional insurance policy plan which provide me good service and high returns. The premiums are low and the policy coverage is 91% with high claims. The behaviour is good from executives and staff members. Nice insurance plan."
DS
Devesh
Bhubaneshwar, January 16, 2025
Awesome
"Policy has all benefits and the investments are also low. Around Rs.29.8 L is payback amount after policy end. Canara hsbc life insurance provide me traditional policy plan which has nice facilities and the service is very quick. This is good future investment which is tax saver also.
"
US
Uttam
Doda, January 16, 2025
Super Policy
"My traditional insurance policy plan is good with great facilities. Canara hsbc life insurance you guys are superb, your service is like super sonic speed. Premiums are low and the policy coverage is 89% with good claims. Executives and staff members are doing there work very good. Good experience with you guys. I like the plan.
"
FK
Firoz
Pratapgarh, January 16, 2025
Super Policy
"I invest my money in canara hsbc traditional insurance policy plan. The policy coverage is good ~92% and the claims are high. The premiums are low ~28 K quarterly per year. Paybacks are really very good Rs.41 L. Good investment and tax saver policy plan.
"
KS
Karan
Rohtak, January 16, 2025
Perfect Policy Plan
"I own canara hsbc insurance traditional plan. Plan is good and premium is low. Policy coverage is high and payback returns too. Claiming amount is Rs.31 L. Service is fast like super sonic. The daily updates are mailed to me time to time. Overall, perfect policy plan.
"
SS
Saurabh
Pilani, January 16, 2025
Awesome
"Policy has all benefits and the investments are also low. Around Rs.39 L is payback amount. Canara hsbc life insurance provide me traditional plan which has good facilities and the service is very quick. The up gradation details in policy is mailed to me time to time. Good work.
"
KA
Kushagra
Bopal, January 16, 2025
Investment policy
"Canara hsbc obc life insurance is very good insurer company which comes from ages. The traditional insurance plan i have which has less premiums. Policy coverage are high and investments are low. Claiming is simple and online service gives the easy renewals of the insurance policy."
LK
Lalit
Agra, January 16, 2025
Nice Policy Plan
"I own traditional policy plan which i buy from canara hsbc life insurance. The policy coverage is high ~86% and the premiums are low ~31 K thrice per year. The payback money is high around 38 L. The services are fast and the behaviour of the executives are really nice with policy owners. I like my policy plan.
"
AS
Aman
Lonavla, January 16, 2025
Fair Policy Plan
"I have canara hsbc life traditional policy plan. The policy coverage is 94% and the claims are high which can be easily sanctioned. The service provided by the executives and staff members are fast and responsive. Nice policy plan which save taxes also.
"
HT
Hemant
Calicut, January 16, 2025
Okay Plan
"The traditional policy plan i have from canara hsbc life insurance is okay plan. The premium is low and the policy coverage is around 84% and claims are high. But services are fast, so any work is done without waiting and no paper work. Good policy plan, i like it.
"
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Tax benefit is subject to changes in tax laws
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#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. 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.
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
