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Overview
The Canara HSBC Invest 4G Plan provides dual benefits to policyholders: life coverage for financial protection for their family, and maturity benefits.
This investment plan offers multiple portfolio management options: systematic transfer, return protector, auto funds rebalancing, and safety switch options.
This plan offers a range of benefits including:
- Death benefit
- Maturity benefit
- Loyalty additions
- Wealth boosters
- Return of mortality charges
- Partial withdrawal charges
How to Buy Canara HSBC Invest 4G Plan on PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the 'Investment' tab.
- A new page will appear on the screen.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of Canara HSBC Invest 4G Plan
There are several benefits of the Canara HSBC Life Insurance Invest 4G Plan. Let's understand these benefits in detail:
- Death benefits: In case of the policyholder's unfortunate demise, death benefits are paid to their nominee as per the life cover option chosen from the three available options.
- Maturity benefits: If the policyholder survives their policy tenure, maturity benefits are paid as per the applicable plan option chosen (Life option, Care option, Century option). You can also receive the maturity benefits as a structured payout if you have chosen either the Life option or the Care option.
- Loyalty additions: This plan offers loyalty additions to policyholders for staying invested for a long time. These benefits are paid after every 5th policy year and increase the overall maturity benefits.
- Wealth boosters: Wealth boosters are provided to policyholders under this plan from the 10th policy year after every 5th policy year (e.g., 10th, 15th, 20th). These boosters also increase payable maturity benefits.
- Return of mortality charges: This plan returns the mortality charges paid by policyholders for their life cover at the end of the maturity period. This charge is added to the fund value on the maturity date.
- Partial withdrawal: This plan allows policyholders to make a partial withdrawal from the 6th policy year without paying any charges. The minimum amount for partial withdrawal is Rs 5,000.
Settlement Option
You can choose your maturity benefit through the settlement option, as per the frequencies you choose over 5 years. You can also make withdrawals at once.
Switching
Switching allows policyholders to change their investment patterns during the policy tenure by moving funds from one account to another. The minimum switching amount is Rs 5,000.
Premium Redirection
This option allows policyholders to modify the future allocation of premiums into ULIPs, in different patterns from the one chosen before. Premium redirection is free and allowed once a year.
Look-in Period
The Invest 4G plan offers a look-in period of 15 days for policyholders to review the terms and conditions. They can cancel their policy if not satisfied.
Grace Period
This plan offers policyholders a grace period of 30 days for quarterly, half-yearly, and yearly premium payments, and 15 days for monthly payments.
Surrender Value
You can surrender your policy once it acquires a surrender value. The surrender value is paid to the policyholder after deducting surrender charges.
Exclusions
- If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. In such cases, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.
Documents Required
Here is the list of documents required to buy the Canara HSBC Invest 4G:
- Photo ID Proof: Passport, Aadhaar card, PAN card, Driving license (any one).
- Age Proof: Passport, Aadhaar card, PAN card, Driving license (any one).
- Address Proof: Utility bill, passport, voter ID, ration card (any one).
- Medical Records: Medical records of the policyholder if requested.
- Income Proof: Bank statement, last three months' salary slips (if you are salaried) (any one).
