Canara HSBC Life Insurance Alpha Wealth ULIP Plan

Eligibility Criteria for the Canara HSBC Life Insurance Alpha Wealth ULIP Plan

Single premium is not available under Alpha Premium Plus and Alpha Life Plus.

Features Of The Canara Alpha Wealth ULIP Plan

Here are the most important features of the Canara HSBC ULIP Plan:

1. Life Cover

   You receive life cover throughout the policy term. Under Alpha Life Plus, coverage can extend up to age 100.

2. Return Of Mortality Charges

   At maturity, 100% of mortality charges deducted during the policy term are added back to the fund value. This excludes GST, extra mortality loading, and is not applicable for Single Premium policies.

3. Loyalty Additions

   From the end of the 6th policy year onwards, 0.5% of the average fund value of the last 12 monthly policy anniversaries is credited annually, provided premiums are paid.

   

4. Five Investment Strategy Options

   You have the choice of five different options, including:

   • Systematic Transfer Option (STO)
   • Return Protection Option (RPO)
   • AFR: Auto Funds Rebalancing
   • Safety Switch Option (SSO)
   • Loss Protector Strategy (LPS)

5. Wealth Boosters

   Additional units are credited as follows:

   • 2.90% at the end of the 10th policy year
   • 1.50% at the end of every 5th policy year thereafter

   These apply only if all due premiums are paid.

Advantages of the Canara HSBC Alpha Wealth ULIP Plan

The Canara HSBC Life Insurance Alpha Wealth ULIP Plan offers these primary benefits:

1. Death Benefit

   If the insured person passes away while the policy is in effect, the death benefit is paid to the nominee (depending on the plan they chose). The policy is also responsible for paying future premiums with the Alpha Premium Plus plan.

2. Maturity Benefit

   At maturity, you receive the accumulated fund value. Under eligible options, mortality charges deducted during the term may also be returned.

3. Systematic Withdrawal Option (SWO)

   From the 11th policy year onward, you can withdraw a chosen percentage of the fund value annually, subject to conditions.

4. Milestone Withdrawal Option (MWO)

   At the end of the 10th policy year and every fifth year thereafter (excluding maturity), you may receive 20% of the available fund value, provided eligibility conditions are met.

5. Partial Withdrawals

   Partial withdrawals are allowed from the 6th policy year onward, subject to minimum fund value requirements.

Latest ULIP NAVs

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Fund Name	NAV	AUM	5 Yr Returns	10 Yr Returns
Canara HSBC Life Debt Fund	₹39.62	₹510 Cr	5.38%	6.55%	View More
Canara HSBC Life Liquid Fund	₹29.41	₹612 Cr	5.42%	4.59%	View More
Canara HSBC Life Equity II Fund	₹39.96	₹3152 Cr	6.53%	8.79%	View More
Canara HSBC Life Growth Plus Fund	₹36.49	₹436 Cr	7.99%	9.5%	View More
Canara HSBC Life Balanced Plus Fund	₹32.38	₹1512 Cr	5.96%	7.56%	View More
Canara HSBC Life India Multi-Cap Equity Fund	₹29.34	₹5082 Cr	8.42%	-	View More
Canara HSBC Life Emerging Leaders Equity Fund	₹34.87	₹2630 Cr	16.86%	-	View More
Canara HSBC Life Large Cap Advantage Fund	₹19.55	₹1237 Cr	6.32%	-	View More
Canara HSBC Life Midcap Momentum Growth Index Fund	₹10.92	₹142 Cr	-	-	View More
Canara HSBC Life India Manufacturing Fund	₹11.25	₹1055 Cr	-	-	View More
Canara HSBC Life Multicap Momentum Quality Index Fund	₹11.1	₹80 Cr	-	-	View More
Canara HSBC Life Nifty Alpha 50 Index Fund	₹11.82	₹54 Cr	-	-	View More
Canara HSBC Life Pension Debt Fund	₹10.31	₹40 Cr	-	-	View More
Canara HSBC Life Pension Nifty Alpha 50 Index Fund	₹11.21	₹9 Cr	-	-	View More
Canara HSBC Life NextGen Consumption Fund	₹9.66	₹552 Cr	-	-	View More
Canara HSBC Pension Equity Fund	₹10.57	₹20 Cr	-	-	View More

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Policy Details of the Canara HSBC Life Insurance Alpha Wealth ULIP Plan

To understand one of the best investment plans in India, here are the policy details:

1. Grace Period

   You can pay your premiums after the due date. The terms and conditions say that the policy will stay in effect during this time.

2. Lock-In Period

   The scheme has a five-year lock-in. You are not allowed to abandon and fully withdraw at this period unless there are particular conditions.

3. Revival

   In the period covered by the policy, you can revive the coverage in case you stop paying premiums.

4. Surrender

   The fund value, less any fees that apply are the surrender value provided that the lock-in rules are followed.

5. Switching

   The policy allows you to transfer money between funds throughout the term, enabling you to adjust your investment strategy as the market evolves.

6. Settlement Option

   Under this option, you can receive your maturity money in instalments over a maximum of 5 years upon maturity, subject to the specified plans.

Exclusions Under the Canara HSBC Life Insurance Alpha Wealth Plan

1. Suicide Clause

   In cases where the Life Assured commits suicide in less than 12 months of the policy commencement or revival, then the Fund Value at the date of death will be transferred to the nominee. This amount will be paid, after which the coverage will cease to exist.

2. Discontinuance During Lock-In

   If someone dies when the policy is in "Discontinuance" condition during the lock-in term because they didn't pay their premium, the money from the Discontinued Policy Fund (DPF) will be paid out as of the date of the death notice.

3. Auto-Termination

   If the Fund Value is not enough to cover charges or drops to zero after the lock-in period, the policy will end automatically, and the remaining Fund Value (if any) will be paid.