Canara HSBC iNVESTSHIELD Plan is a non-participating, unit-linked endowment life insurance plan. This policy can be bought directly via Canara HSBC’s online portal. Policyholders can customize the plan as per their requirements as it comes with 3 options:
Canara HSBC iNVESTSHIELD Plan offers a wide choice of Investment Funds to match the investment appetite of the policyholder. You can also conveniently move around your funds with the Safety Switch Option in the last 4 policy years.
The iNVESTSHIELD Plan boasts of additional features like allocation of units as Loyalty Additions, partial withdrawal of liquidity to help in unforeseen emergency situations, and no Premium Allocation Charge during the entire premium paying term.
|Minimum entry age||18 years|
|Maximum entry age||50 years|
|Minimum maturity age||28 years|
|Maximum maturity age||65 years|
|Premium Payment Terms||
This is how Canara HSBC iNVESTSHIELD Plan works:
|Life Option with ADB||Policyholder get twin benefits with this option:
|Life Option with PFB||Death benefit is the higher of the following, payable as a lump sum:
|Premium Payment Option||Policy Term||Frequency of LA||At the end of Policy Year||Loyalty Additions|
|Regular and Limited||Less than 15 years||Once||10||5.6%|
|Equal to 15 years||Twice||10||5.6%|
|Fund name||Investment objective||Asset category||Risk profile|
|Equity II Fund||Long-term capital appreciation by investing in diversified equities.||Equity - 60-100%, Debt Securities - 0%, and Money Market - 0-40%||High|
|Growth Plus Fund||Capital appreciation by investing majorly in equities with limited investment in fixed income securities.||Equity - 50-90%, Debt Securities - 10-50%, and Money Market - 0-40%||Medium to high|
|Balanced Plus Fund||Capital appreciation and current income through a mix of investments in equities and fixed income securities.||Equity - 30-70%, Debt Securities - 30-70%, and Money Market - 0-40%||Medium|
|Debt Plus Fund||Regular income by investing in high-quality debt securities.||Equity - 0%, Debt Securities - 60-100%, and Money Market - 0-40%||Low to medium|
|Liquid Fund||Reasonable returns, low risk, and a high liquidity.||Equity - 0%, Debt Securities - 0-60%, and Money Market - 40-100%||Low|
|Beginning of Policy Year||In Liquid Fund||In Other Unit Linked Funds|
|Fourth last Policy Year||30%||70%|
|Third last Policy Year||60%||40%|
|Second last Policy Year||90%||10%|
|Last Policy Year||100%||0%|
The various charges applicable for the iNVESTSHIELD Plan are:
You can get tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961 on premiums paid and maturity proceeds, respectively.
There are several other benefits of purchasing ULIPs from Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited such as:
Canara HSBC Oriental Bank of Commerce Life Insurance Smart Future Plan gives you the opportunity to build your wealth in order to ensure a bright future for your child. With experience and expertise in the insurance market, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited offers an array of insurance products from ULIPs to protection plans.
The company has tied up with 3 rural banks in an effort to offer affordable insurance products to meet the needs of its rural customers. It is one of the fastest growing life insurance companies in India with its excellent investment strategy and consistent fund performance. As of 31 January 2016, the company's total capital is Rs.950 crore. The Claims Settlement Ratio of the company in FY 2015-16 was 93%.
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