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Canara HSBC Life Insurance Wealth Edge

A unit-linked individual savings life insurance plan that protects you and your family while helping you generate wealth

A plan that combines the best of both worlds

Canara HSBC Life Insurance Wealth Edge is a unit-linked individual plan that combines life insurance and a savings plan. It's designed to suit your needs, recognising the importance of your life goals and helping you achieve them. What's more, it gives you and your family an added shield of life insurance so you're protected against life's uncertainties.

Plan Unique Identification Number (UIN): 136L085V01

Why Wealth Edge

Choose your plan option

Take your pick from 3 plan options to suit different life stages: Invest Plus, Premium Plus, or Life Plus

Enjoy recurring income from your accumulated fund

Receive recurring income from your accumulated fund through the Systematic Withdrawal Option (SWO) or Milestone Withdrawal Option (MWO)

Be rewarded for staying with us

Get loyalty additions and wealth boosters – it's our way of saying thank you for being a long-time investor with us

Explore a range of investment strategy options

Select from 5 investment strategies based on your personal financial needs and the goals you want to achieve

More benefits

  • Contributions continue in your absence
    If you choose the Premium Plus option, your premium funding benefit will ensure that targeted savings contributions will be made even in your absence.
  • Tax benefit
    Get tax benefits on the premium paid subject to Section 80 C of the Income Tax Act, 1961.
  • The flexibility to tailor to changing needs
    You can alter your premiums, premium payment term, policy term and sum assured when you need to. You can also opt to pay your premiums once, over a limited period or over the entire policy term.

How it works

Here's how you can build a Wealth Edge plan that's tailored to your needs.

Select your plan option and premium amount

Depending on your needs, you can choose from 3 plan options: Invest Plus, Premium Plus, or Life Plus.

Choose your premium payment term, policy term and sum assured multiple

You can decide on how long your policy will be, how frequently you'll make payments and over what period, and what your sum assured multiple is based on your protection and insurance needs.

Pick your funds or portfolio management options

You have the flexibility to choose from 8 unit-linked funds, each suited to different risk appetites. Plus, you can select from 5 portfolio management options to manage and build your wealth, your way.

3 Wealth Edge plan options

Depending on your life stage and personal needs, you can choose from the following plan options:

Invest Plus: provides life coverage during your policy term and the accumulated fund value at maturity.

Premium Plus: takes care of your family's financial security and wealth accumulation even in your absence. In the event of your death, your nominee will receive a lump sum death benefit. All future premiums will be waived and the nominee will receive the fund value, if any, upon the policy maturity date.

Life Plus: builds a reliable fund for you to draw from in your golden years and to leave as a financial legacy for your loved ones, all while providing life insurance up to age 99.

Policy term, premium payment term, and sum assured

You'll be covered under the policy term you choose.

Policy term:

10 to 30 years for limited and regular pay options, subject to entry age and premium payment term

5 to 30 years for single pay option, subject to entry age

You have the flexibility to choose the sum assured (amount of life cover). This is calculated as a multiple of your annualised premium*.

Sum assured:

Minimum sum assured for limited and regular pay options: 7× annusalised premium

Minimum sum assured for single pay option: 1.25× single premium

Premium payment term:

From 5 years or up to the policy term selected, for all pay options.

Premium payment mode Minimum
Yearly INR125,000 per year
Single premium INR125,000
Quarterly INR43,750 per quarter
Monthly INR16,667 per month
Half-yearly INR75,000 per half year

From 5 years or up to the policy term selected, for all pay options.

Premium payment mode Yearly
Minimum INR125,000 per year
Premium payment mode Single premium
Minimum INR125,000
Premium payment mode Quarterly
Minimum INR43,750 per quarter
Premium payment mode Monthly
Minimum INR16,667 per month
Premium payment mode Half-yearly
Minimum INR75,000 per half year

* Minimum instalment premiums exclude goods and services tax as well as any applicable cesses and levies. The single premium option applies to the Invest Plus plan option only.

There is no limit to maximum instalment premiums, subject to underwriting.

Funds or portfolio management options

The Wealth Edge plan gives you the flexibility to manage your money, your way. You can choose from 8 unit-linked funds, or 5 portfolio management options to suit your investment needs. You can also opt to allocate your premiums to any, all or a combination of the unit-linked funds based on your risk appetite.

What's more, we'll reward you with loyalty additions and wealth boosters just for staying invested with us longer.

Things to know

Who can apply?

You must meet both the entry age and maturity age requirements for the premium band you wish to take:

  • Invest Plus: entry age between 0 and 70 years, maturity age between 18 and 80 years
  • Premium Plus: entry age between 18 and 50 years, maturity age between 28 and 80 years
  • Life Plus: entry age between 18 and 70 years, maturity age at 100 years
 

Ready to apply?

Apply online

Simply complete an application form online to get started in minutes, from the comfort of home.

Visit a branch

Apply in person at your local branch.

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Notes

  • Insurance is the subject matter of the solicitation.
  • The Insurance product is offered and underwritten by the insurer Canara HSBC Life Insurance Company Limited (IRDA Regn. No. 136) having its head office at 139 P, Sector 44, Gurugram – 122003, Haryana, India.
  • The Hongkong and Shanghai Banking Corporation Limited, India (IRDAI Regn. No. CA0016) (HSBC India) whose India corporate office is at 52/60, M. G. Road, Fort, Mumbai 400 001, is the Corporate Agent of Canara HSBC Life Insurance Company Limited and does not underwrite the risk or act as an insurer.
  • The contract of insurance is between the insurer and the insured and not between the bank and the insured. All claims would solely be settled by CHL Insurance Company Limited. If any claim or dispute is received by HSBC, it will forward the same to CHL Insurance Company Limited and would assist the policy holder/ claimant in trying towards earliest settlement of claim/ dispute by CHL Insurance Company Limited.
  • All premiums are subject to applicable taxes and cesses, which are subject to change from time to time. Basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST, State/Union Territory GST, or Inter-State GST, as applicable, and Cess as applicable, would apply on the fees and charges.
  • IRDA regulations do not permit HSBC or its employees to pay commission, whether in part or whole, as an inducement to any person to take out or renew or continue an insurance policy of any kind. (Sec 41 of the Insurance Act, 1938 as amended from time to time).
  • For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale:

Website: canarahsbclife.com 

    Call: 1800-103-0003/1800-180-0003/1800-891-0003

    E-mail: customerservice@canarahsbclife.in

    SMS your query to 9779030003 to get a call back within 48 hours

Beware of spurious / fraud phone calls!

IRDAI is not involved in activities like selling Insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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