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In all Unit Linked Insurance Plans (ULIPs), the investment risk in the portfolio is entirely borne by the policyholder. Returns are market-linked and not guaranteed. Past fund performance does not guarantee future results.
Canara HSBC Life Insurance Wealth Edge Plan
The Canara HSBC Life Insurance Wealth Edge Plan helps you build long-term wealth while keeping your family financially protected. It is a Unit Linked, Non-Participating Individual Life Insurance Plan where the policyholder bears the investment risk associated with the underlying funds. The policyholder takes on the investment risk. With multiple plan options, fund choices, and portfolio management strategies, you get flexibility to align your protection and investment approach with your financial goals.
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Canara HSBC ULIP Plan
- Canara HSBC Life Insurance Wealth Edge Plan
Eligibility Criteria for the Canara HSBC Life Insurance Wealth Edge Plan
| Criteria | Minimum | Maximum |
| Entry Age (Invest Plus) | 18 years | 70 years |
| Maturity Age (Invest Plus) |
80 years |
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| Entry Age (Premium Plus) | 18 years | 50 years |
| Maturity Age (Premium Plus) | 28 years | 80 years |
| Entry Age (Life Plus) | 18 years | 70 years |
| Maturity Age (Life Plus) |
Up to 100 years |
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| Policy Term (Invest Plus) | 5 years | 30 years |
| Policy Term (Premium Plus) | 10 years | 30 years |
| Policy Term (Life Plus) |
100 – Entry Age |
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| Premium Payment Modes |
Annual / Semi-Annual / Quarterly / Monthly / Single (Invest Plus Only) |
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| Annual Premium | Rs. 1,25,000 (Yearly Mode) | No Limit |
| \Monthly Premium | Rs. 16,667 | No Limit |
Features of the Canara HSBC Life Insurance Wealth Edge Plan
Canara HSBC Wealth Edge Plan offers three plan options: Invest Plus, Premium Plus, and Life Plus. Here are the key features of this plan:
- 11 Unit-Linked Funds: You can choose from 11 diverse funds across equity, balanced, debt, and liquid categories.
- Five Portfolio Management Strategies: Systematic Transfer Option, Return Protector Option, Auto Fund Rebalancing, Safety Switch Option, Life Stage Portfolio Strategy, let you manage risk and market volatility.
- Return of Mortality Charges: Mortality charges deducted during the policy term are added back at maturity.
- Systematic Withdrawal & Milestone Withdrawal: The Systematic Withdrawal Option and the Milestone Withdrawal Option allow structured access to accumulated fund value, subject to conditions.
- Life Cover + Wealth Creation: Financial protection throughout the policy term, with fund-based growth potential.
The Canara HSBC Life ULIP plans are designed to give you flexibility in how you invest and how long you stay invested.
Benefits of the Canara HSBC Life Insurance Wealth Edge Plan
This ULIP plan provides portfolio management strategies to help you manage market volatility while aiming for long-term wealth creation. Here are the other perks you need to know about before you invest:
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Benefit of Maturity
When the fund matures, you get the fund value based on the current NAV. It lets you keep your money until you're 100 years old, which can help you develop a long-term legacy corpus.
At maturity, the value of your fund will be higher, since the mortality charges deducted throughout the insurance period are returned.
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Death Benefit
The plan option will determine the death benefit:
- Invest Plus and Life Plus: The higher of the Sum Assured (after withdrawals) and 105% of the total premiums paid.
- Premium Plus: Under the Premium Plus option, the insurer may waive future premiums, and the policy continues until maturity, subject to the policy terms.
This ensures your family will still have money even if you're not there.
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns | |
|---|---|---|---|---|---|
| Canara HSBC Life Debt Fund | ₹38.98 | ₹493 Cr | 4.92% | 6.25% | |
| Canara HSBC Life Liquid Fund | ₹29.58 | ₹624 Cr | 5.49% | 4.55% | |
| Canara HSBC Life Equity II Fund | ₹38.67 | ₹2873 Cr | 4.71% | 8.45% | |
| Canara HSBC Life Growth Plus Fund | ₹35.17 | ₹398 Cr | 5.58% | 8.66% | |
| Canara HSBC Life Balanced Plus Fund | ₹31.56 | ₹1393 Cr | 4.78% | 7.22% | |
| Canara HSBC Life India Multi-Cap Equity Fund | ₹28.1 | ₹4744 Cr | 6.46% | - | |
| Canara HSBC Life Emerging Leaders Equity Fund | ₹31.77 | ₹2700 Cr | 13.48% | - | |
| Canara HSBC Life Large Cap Advantage Fund | ₹18.98 | ₹1160 Cr | 4.7% | - | |
| Canara HSBC Life Nifty Alpha 50 Index Fund | ₹10.67 | ₹59 Cr | - | - | |
| Canara HSBC Pension Nifty Alpha 50 Index Fund | ₹10.32 | ₹10 Cr | - | - |
See more plans
Riders for the Canara HSBC Life Insurance Wealth Edge Plan
Riders can be added if the person meets the underwriting requirements and follows the underwriting rules. Riders must be in line with the rest of the policy's term and premium payment period. There will be no overlap between the benefits of the rider and the benefits of the base plan.
Policy Details of the Canara HSBC Life Insurance Wealth Edge Plan
Here are the details of one of the best investment plans by Canara HSBC:
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Grace Period
- 30 days for the yearly, half-yearly, and quarterly modes.
- The Monthly mode lasts for 15 days.
During this time, life insurance is still in effect.
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Revival
The policy can be revived after the first unpaid premium, but you need to get underwriting approval and pay the premiums that are due.
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Free Look Period
You have 30 days from the date you receive the insurance copy to review the terms. If you don't agree, you can cancel and get a refund according to the policy.
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Surrender
The plan has a 5-year lock-in period.
- During lock-in: Fund Value (after charges) moves to Discontinued Policy Fund and is payable after lock-in completion.
- After lock-in: Fund Value is payable on surrender.
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Fund Switching
Unlimited switches are allowed in a policy year free of charge. Minimum switch amount is Rs. 10,000.
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Loan
There is no loan facility under this plan.
Exclusions Under the Canara HSBC Life Insurance Wealth Edge Plan
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Suicide Exclusion
If death occurs due to suicide within 12 months from commencement or revival, the nominee will receive the Fund Value available on the date of death intimation. The policy gets terminated after that.
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Total Permanent Disability (TBD)
Benefits in case of Total Permanent Disability (TBD) will be payable as per rider terms and conditions, subject to underwriting and policy provisions.
FAQs
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Who bears the investment risk in this Canara HSBC ULIP plan?
The investment risk is borne entirely by the policyholder since it is a unit-linked product. -
Can I withdraw money before 5 years under the Canara HSBC Life Insurance Wealth Edge plan?
No, ULIPs have a mandatory 5-year lock-in period. -
Is there a maximum amount of premium that may be paid under the Canara HSBC Life Insurance Wealth Edge plan?
The minimum annual premium is Rs. 1,25,000 (yearly mode). There is no maximum limit. -
Can I change my investment strategy later?
Yes, you can switch funds and choose portfolio management options, subject to plan conditions.
Insurers Offering ULIPs
Disclaimer: Policybazaar Insurance Brokers Private Limited 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 Insurance Brokers Private Limited 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