About the Plan

You have dreams for yourself and the ones you love. You need a financial plan that helps you to achieve these dreams while protecting them in adverse situations. It is our endeavor to provide you with solutions that help you plan better when it comes to your familys needs.

Moreover, you can avoid the trouble of going through a cumbersome process and get yourself insured directly. Its not only simple, but also available at your finger tips.


Benefit Options in this Plan


This plan provides protection features through different benefit options to suit your needs. You can choose your benefit option as below and customize your plan.


Benefit Options Protection against
Death Accidental Death Premiums after Death
Life Option Yes -- --
Life Option with ADB Yes Yes --
Life Option with PFB Yes -- Yes

Please note that you can choose a benefit option at inception stage only. Once chosen it cannot be changed later during the Policy Term.

Particulars Details
Entry Age (Life Assured) Minimum:18 years, Maximum:50 years
Max. Maturity Age Minimum:28 years, Maximum:65 years
Premium Amount & Premium Payment Modes
Mode Minimum Maximum
Annual 25,000/- per annum No Limit
Monthly* 3,000/- per month
Single 50,000/-
Single Premium Payment option is not available under ' Life Option with PFB'
Premium Payment Term Single
Limited :5 years to (Policy Term - 1)
Regular :Equal to Policy Term
Policy Term Single Premium Payment:10 years (fixed)
Limited & Regular Premium Payment:10 years to 15 years
Sum Assured
Premium Payment Term Minimum Maximum
Single 1.25 times of Single Premium 10 times of Single Premium up to age 37 years only
Please note that under Single Premium Policy only two Sum Assured multiples of 1.25 or 10 times Single Premium are allowed. Sum Assured multiple for more than 1.25 times and less than 10 times Single Premium are not allowed.
Limited & Regular 10 times of Annualized Premium#

*please note that it is mandatory to pay 3 months premium in advance and subsequently through standing instruction.

  • WHY BUY

    Our iNVESTSHIELD Plan is a unit linked non-participatory investment cum insurance plan which provides the opportunity to create wealth to fulfill various family needs like building a asset or to ensure for a bright future for your child.

    Our iNVESTSHIELD Plan provides following Key benefits

    • Convenience to buy directly from our website www.canarahsbclife.com
    • Flexibility to customize your plan as per your need
    • Zero Premium Allocation Charge throughout the premium payment term of your Policy
    • Loyalty Additions as additional allocation of units to boost your investments
    • Choice of Investment Funds ranging from 0% to 100% equity exposure, to match your appetite towards investment risks and returns
    • Safety Switch Option enables you to move your funds systematically to a relatively low risk Liquid Fund to avoid market movements in the last four Policy years
    • Liquidity to take partial withdrawals to help you meet unplanned contingencies
    • Tax benefits on premium paid and benefit received during Policy term under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time
  • BENEFITS

    Death Benefits

    In case of your unfortunate demise while the Policy is in-force, the death benefit will be as per the Benefit Option chosen by you. The death benefit under each of 3 benefit options which becomes payable to your family is as follows:

    Benefit Option Death Benefit
    Life Option Higher of following :
    • Sum Assured less applicable partial withdrawals
    • Fund Value, or
    • 105% of Premiums paid
    Life Option with ADB Twin Benefit by way of :
    • Death benefit as per 'Life Option'
      Plus
    • Accidental Death Benefit (ADB) Sum Assured. The ADB Sum Assured will be equal to Sum Assured of the Policy and will be payable in case death of the Life Assured is due to an accident.
    Life Option with PFB Higher of the following as lump sum will be paid immediately:
    • Sum Assured or
    • 105% of total Premiums paid till death
      Plus
    • All future Premiums are funded by the Company as and when due, and
    • Fund Value is paid on maturity

    Maturity Benefits

    Your Policy will mature at the end of the Policy Term as chosen by you at inception. You will receive the Fund Value based on the prevailing NAVs at maturity. You also have the option to take Fund Value on maturity in periodic installments as per Settlement Option.

    Loyalty Additions

    Your plan provides loyalty additions depending upon Policy Term chosen by you. Loyalty additions are paid in the form of extra allocation of units to your Unit Linked Fund(s), provided that all due Premiums till date have been paid. The Loyalty additions will be paid as follows:

    Loyalty Additions are as a % of average Fund Value of the last 60 monthly Policy anniversaries

    Premium Payment Option Policy Term Frequency of Loyalty additions At the end of Policy Year Loyalty Additions
    Single 10 years Once 10 4.0%
    Regular and Limited Less than 15 years Once 10 5.6%
    Equal to 15 years Twice 10 5.6%
    15 2.2%

    Partial Withdrawal

    To take care of any unforeseen liquidity crunch, you can make partial withdrawals from your Policy without completely surrendering it. Partial withdrawals are allowed from the 6th Policy Year.

    Tax Benefits#

    You can avail tax benefit on premium amount and benefit received from the policy under Section 80C and Section 10(10D), as per the Income Tax Act, 1961. Please note that tax laws are subject to amendments from time to time.

    #Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.

    Safety Switch Option

    As your Policy nears maturity, you may want to avoid market movements and safeguard your funds. The Safety Switch Option enables you to move your funds systematically to a relatively low risk Liquid Fund at the beginning of each of the last four Policy Years.

    Settlement Option

    You can choose to receive your maturity benefit through Settlement Option in installments as per the frequency chosen by you, over a maximum period of 5 years. There will not be any life cover during this period and you may opt for complete withdrawal of Fund Value at any time.

    Switching

    In order to take advantage of market opportunity or readjust your investment among different funds , You can opt to switch your investments from one investment fund to another at any point of time. You can either switch a percentage of your investments or an absolute amount.

    Premium Redirection

    You have the option to change the allocation proportion of your future Premiums into one or more Unit Linked Funds limited to once in a policy year which shall be free of cost. The revised allocation proportion will apply to your subsequent Premiums.

    Investment Funds:

    You can choose from a range of 5 Unit Linked Funds ranging from 0% to 100% of equity exposure to cater to your investment needs. You can choose to allocate your Premiums to any, all or a combination of the Unit Linked Funds as per your risk preference.

    Sr. No. Fund Name Risk Profile
    1 Equity II Fund High
    2 Growth Plus Fund Medium to High
    3 Balanced Plus Fund Medium
    4 Debt Fund Low
    5 Liquid Fund Low
  • HOW IT WORKS

    Rahul, aged 30, is planning to invest annually on a regular basis in iNVESTSHIELD Plan for a period of 15 years. He can utilize the various "Benefit Options" in order to fulfill his different needs.

    Scenario 1: Rahuls need is to create maximum wealth over a period of 15 years to create an asset for his family. Hence Rahul chooses 'Life Option' under this plan. The table below shows maturity values for multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in Equity II Fund.

    Annual Premium(`) Sum Assured(`) Fund Value at the end of 15 years assuming Gross Investment Return of (`)
    4% 8%
    25,000 2,50,000 453,119 632,364
    40,000 4,00,000 724,991 1,011,782
    75,000 7,50,000 1,359,357 1,897,091

    Scenario 2: Rahul is recently married and looking for some additional protection due to enhanced responsibility. His need is to create long term wealth with extra safety through additional protection to cover for any unfortunate event. Hence Rahul chooses 'Life Option with ADB'. The table below shows maturity values with multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in Equity II Fund.

    Annual Premium(`) Sum Assured(`) Fund Value at the end of 15 years assuming Gross Investment Return of (`)
    4% 8%
    25,000 2,50,000 449,848 627,886
    40,000 4,00,000 719,756 1,004,617
    75,000 7,50,000 1,349,543 1,883,657

    Scenario 3: Rahul is married & have a 3 years old daughter. Rahuls need is to create a corpus for the future of his daughter. He is looking for a customized solution which ensures that in an event of death the familys immediate needs are met & in the meantime his dream for providing a corpus to his daughter is also met. Hence Rahul chooses 'Life Option with PFB'c under this plan. The table below shows maturity values with multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in a Balanced Plus Fund.

    Annual Premium(`) Sum Assured(`) Fund Value at the end of 15 years assuming Gross Investment Return of (`)
    4% 8%
    25,000 2,50,000 442,706 618,691
    40,000 4,00,000 708,329 989,906
    75,000 7,50,000 1,328,117 1,856,074

    The assumed rates of return (4% p.a. and 8% p.a.) shown in the above illustrative examples of different scenarios are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The Fund Values shown in the above illustrative example are after deduction of all charges including applicable service tax and applicable cess(es) (@15%).

  • BROCHURE & PDFs

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Claims Process

  • Step1: Claim Intimation & Registration
  • Step2: Fund Value Disbursement & Documentations
  • Step3: Processing & Settlement
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Get a Call Back

*
*
*

I agree that even if my contact number is registered with NDNC/NCPR, I would still want the Company to contact me on the given number for the clarifications/product information sought by me.

Claims Process

  • Step1: Claim Intimation & Registration
  • Step2: Fund Value Disbursement & Documentations
  • Step3: Processing & Settlement
Know more