Financial planning is a deeply personal journey, and no two paths look the same. Every individual needs an approach tailored to their goals and circumstances. When you picture the future, what comes to mind first? For some, it is building wealth so their dreams can take shape with confidence. For others, it is safeguarding health to find peace in uncertain times. Many, above all else, place family security at the centre of their plans.
Well, Promise4Growth Plus acknowledges these different priorities and offers you the freedom to choose what fits you the best. These Wealth, Care, and Life options allow you to work out a financial plan that actually resonates with your current and future priorities. Let’s understand why flexibility is important in financial planning and how this plan assists you better.
Key Takeaways
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Financial planning is often described as a roadmap to the future, yet unlike a fixed highway, life is full of turns, surprises, and crossroads. A rigid plan may appear strong on paper, but in reality, it may fall short when faced with changing priorities or unexpected events.
For example, when you begin your career, the focus is usually on building wealth and creating a habit of disciplined savings. Over time, family responsibilities enter the picture, highlighting the need for health protection, education funds, or support for dependents. Later in life, retirement security and legacy planning often take centre stage.
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Each of these milestones requires a different approach, yet the underlying need remains the same, which is to protect and provide for yourself and your loved ones. So, here’s why flexibility matters to make your financial plan grow with you through the different life stages and priorities, rather than leaving you behind:
Promise4Growth Plus is a carefully designed unit-linked insurance plan to help you bridge the gap between your aspirations and financial protection. What sets it apart is the ability to customise your path with three distinct choices based on your requirements. You can focus on growing your wealth, securing health-linked protection, or ensuring lifelong cover for your family.
With twelve fund options and four portfolio management strategies available, the plan empowers you to align investments with your risk appetite and your goals for the future. Some of the highlights include:
ULIPs are now classified as capital assets and taxed under ‘capital gains’ and not ‘income from other sources’
Source: Hindustan Times
Every individual carries a different dream for tomorrow, and hence, options under Promise4Growth Plus are devised accordingly. The following are the three dedicated options for you to choose from:
Promise4Wealth Plus is tailored for those who believe in the discipline of long-term savings. It brings together life cover and investment growth. It is ideal for young professionals or families looking to build a corpus for milestones. The key features are:
Understand it with Sachin’s example.
Sachin is 23 years old. He has just begun his career and wants to start building his financial future in a disciplined way, even though his income is modest.
He opts for the Promise4Wealth option with a monthly premium payment of ₹3,000 over a 15-year premium-paying term. Over these 15 years:
Thanks to these features, Sachin’s savings grow not only through his own regular contributions but also through added value from plan benefits. Moreover, his family has insurance cover throughout the policy period. Even if an unforeseen event had occurred, his loved ones would have been protected, and his plan’s benefits would still work out in their favour.
Promise4Care Plus speaks directly to families who value security above all. It is designed to ensure that even if the life assured is no longer around, the family continues to receive financial support. The defining element of this plan is the Premium Funding Benefit.
If something happens to the policyholder, the company takes over the responsibility of paying the remaining future premiums. This ensures that savings continue to grow without interruption. In addition, the nominee receives a monthly income equal to one twelfth of the annual premium, for up to 120 months. This income provides a steady stream of support during difficult times.
Consider this hypothetical case of Sourav, a 35-year-old father who wants to secure his daughter’s future.
Sourav chooses Promise4Care Plus with an annual premium of ₹60,000 (₹5,000 per month). His goal is to secure his 7-year-old daughter Maya’s future.
If he passes away in year 10:
This way, Maya gets immediate income support for her daily needs and a matured corpus for her education and dreams. By opting for Promise4Care Plus, he can ensure that even in his absence, his daughter would have both immediate financial support and a matured corpus for her education and dreams.
Promise4Life Plus is designed for those who want their financial protection to last a lifetime and beyond. With coverage that extends up to 100 years of age, this option is ideal for individuals who wish to live peacefully in retirement while leaving behind a legacy for future generations. Its features also include the return of mortality charges at maturity to increase the final fund value.
Swati, for example, is a 40-year-old lady. She is a successful entrepreneur who wants to secure her retirement and leave a lasting legacy for her family.
She chooses Promise4Life Plus with a 20-year premium term.
With disciplined contributions, Swati builds a secure retirement while leaving a meaningful legacy for her loved ones.
Financial planning is not about predicting the future with certainty. It is about preparing for different possibilities with wisdom and foresight. We have designed the P4G Plus such that it recognises this reality. With three well-defined options, you can choose what matters most, whether it is building wealth, securing family care, or ensuring lifelong protection.
Each option is anchored in protection and growth, yet flexible enough to align with your individual journey. Promise4Growth Plus by Canara HSBC Life Insurance is simply a partner in your life’s promises.
It grows with you, it supports your loved ones, and it strengthens your future.
The Promise4Wealth option helps you grow long-term savings while providing life cover. It rewards discipline through Wealth Boosters and Loyalty Additions, making your fund value stronger. It suits those aiming for future goals like higher education, retirement, or asset creation, all while ensuring protection if the unexpected happens.
Yes, you can choose from multiple funds and use portfolio management strategies to align your investments with your risk profile. These choices help manage market fluctuations and optimise returns. Flexibility in switching funds ensures that your savings stay resilient and continue to support your long-term financial goals effectively.
The plan provides life cover that ensures immediate financial protection in case of unforeseen events. For families, the Care option adds a steady monthly income and premium funding to maintain stability. This structure prevents financial disruptions and keeps long-term savings goals intact even when emergencies arise unexpectedly.
Return of Mortality Charges means that charges deducted during the policy term for life cover are added back to your fund value at maturity. This feature increases the final savings corpus, rewarding policyholders who stay invested through the term while also keeping life protection active during the journey.
Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.
Canara HSBC Life Insurance offers online ULIP plans that blend life insurance protection with investment growth, helping you build wealth while securing your family's future.
