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Canara HSBC Invest 4G Plan
Canara Invest 4G is a Unit-linked non-participating life insurance policy that helps you forget your financial woes. The policy comes with a dual benefit of protection and savings which provides life insurance protection as well as the opportunity to save for fulfilling your life goals. The loyalty addition, wealth booster and mortality return on maturity are some of the unique features that make the policy an ideal choice.
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- Canara HSBC OBC Invest 4G Plan
Let’s have a detailed look at it:
Key Features of Canara HSBC OBC Invest 4G Plan
Canara HSBC OBC Invest 4G plan is a ULIP plan that comes with savings and protection benefit. By choosing this plan, you can create wealth for the future to fulfil your long-term life goals. The key features of this policy include:
- The plan offers 7 different funds and 4 portfolio strategies to invest your money
- There are Loyalty Additions and Wealth Boosters as an additional benefit to increase your savings
- Return of mortality benefit on the maturity of the plan
- It offers the flexibility of redirecting and switching the fund options to take advantage of market movement or reduce the risk
- Partial withdrawals are available to help you meet the unexpected expenses arising out of an unforeseen event or the meet the changing needs of the family
- You have an option to receive the benefit on maturity through Settlement Option (SO) in instalments
- You can switch your investment from one investment fund to another any time
- Premium redirection is available through which you can change the allocation proportion of future premiums into one or more ULIP funds.
Benefits Offered under Invest 4G Plan
The policy offered its benefits under three plans to choose from:
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Benefit Option |
Protection against
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Death/Accidental Demise |
Future Premium Funding option after Death |
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Life Option |
Yes |
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Life Option with PFB |
Yes |
Yes |
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Whole of Life Option |
Yes |
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The sum assured can avail the following benefits by choosing any of the above plan options:
Death Benefits
Life option & Whole of Life Option
In case of the unfortunate demise of the policyholder, the family receives the policy benefits which is higher of:
- Sum assured
- Fund value or
- 105% of all the paid premiums
Life option with Premium Funding Benefit
The policy keeps the insured stress-free and helps in keeping the financial future of the family, in his absence. In case of an unfortunate event, the needs of the family will be taken care of, by paying up to a lump sum amount immediately
Sum Assured or,
105% of total paid premiums till death
Also,
The insurer will fund all the future premiums as and when due. The fund value will be paid on the maturity
All future Premiums are funded by the Company as and when due, and Fund Value is paid on maturity
Latest ULIP NAVs
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Maturity Benefits
The fund value can be received at the time of maturity as per the prevailing NAVs. You can also take the fund value on maturity in periodic instalments depending on the settlement option.
Return of Mortality Charge
Under this benefit, an amount equal to the mortality charges that are deducted during the policy tenure will be offered and added to the fund value on maturity. The only condition is that all due premiums are paid till the maturity. This feature is available only benefit option 1 that is Life Option, and not available to the remaining two Benefit Options.
Loyalty Additions
On every 5th year, you’re eligible to avail fund value related o Loyalty Additions. So, if we consider the policy tenure, the Loyalty Addition to be earned at 5th policy year, 10th policy year, 15th policy year etc., provided all the premiums are paid till the time. The average Loyalty Addition to be paid is 0.5% of the average Fund Value of the previous 60 monthly policy anniversaries. The LA will be added in the equal portion as the value of total units in the ULIP fund.
Wealth Boosters
Apart from the Loyalty Addition, Invest 4G Policy also offers Wealth Boosters. These are based on premium payment term, provided all due premiums are received till date. This benefit is paid as a percentage of the average fund value of last 60 monthly policy anniversaries, and financial goals influence which SIP is best for each investor when evaluating long-term accumulation strategies. WB will be added as the same value of total unit held in the ULIP fund at the time of additions.
Partial Withdrawal
To meet the unfortunate liquidity crunch, you can withdraw the policy partially, without entirely surrendering your policy. Partial withdrawal is allowed from 6th policy year onwards, where a maximum of Rs. 5,000 can be withdrawn. This benefit is not allowed during the Settlement Period.
Additional Benefits
Settlement Option is an additional benefit, apart from the above where you can choose to receive the maturity benefit through Settlement Option in instalments. It can be availed as per the frequency chosen by you, over a maximum period of 5 years. However, no life cover is offered during this period. You may opt for complete fund value at any time of the policy tenure.
Tax Benefits
The annual premiums paid towards the policy are entitled to tax benefit as per the Section 80C of Income Tax Act, 1961. The benefits can be earned as per the prevailing tax laws.
Canara HSBC OBC Invest 4G Plan Details:
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Entry Age |
Minimum: 18 years Maximum: 50 years |
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Policy Term |
5 to 30 years (Life Option) 10 to 39 years (Life option with PFB) |
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Sum Insured |
10 times annualised premium (for age below 45 years) 10 times the annualised premium (for age 45 and above) |
Canara HSBC OBC Invest 4G Plan Premium Payment Details
The policy comes with below premium amount and payment modes:
- Annual: Rs. 50,000 annually with the upper limit
- Half Yearly: Rs. 30,000 semi-annually with no upper limit
- Quarterly: Rs. 15,000 per quarter with no upper limit
- Monthly: Rs. 5,000 per month with no upper limit
7 Fund Options and Portfolio Management Options Available
This plan gives you the option to choose from 7 different funds to invest and 4 portfolio management options to build wealth. Here you go:
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Fund Options |
Portfolio Management Option |
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Emerging Leaders Equity Fund |
Systematic Transfer Option (STO) |
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India Multi- Cap Equity Fund |
Return Protector Option (RPO) |
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Equity II Fund |
Auto Funds Rebalancing (AFR) |
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Growth Plus Fund |
Safety Switch Option (SSO) |
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Balanced Plus Fund |
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Debt Fund |
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Liquid Fund |
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜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
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ