Benefits of INVEST 4G: The Unit Linked Insurance Plan
Life cover
Ensuring financial protection to your family in case of your unfortunate demise
Flexibility
ULIPs provide option to switch between investment funds at various stages depending on life goals
Loyalty Additions1 & Wealth Boosters2
Additional units are allocated which help boost the policyholder’s savings
Liquidity
Partial Withdrawals3 to meet unplanned contingencies, Systematic Withdrawal Option to create additional income stream during policy term and Milestone Withdrawal Option for enhanced liquidity at regular intervals.
ULIPs also provide tax benefits on premium paid and the benefits are received during the term of the policy under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time
Importance of ULIPs
Life cover
Unit Linked Insurance Plans provide life cover throughout the policy term and the accumulated fund value at maturity.
Finance long term goals
The longer you invest in ULIPs the better the return you can expect.
Liquidity when you need it
The ULIPs provide options of partial withdrawal3. Any number of partial withdrawals can be made in a Policy Year.
Disciplined and regular savings
The premiums you pay are invested in funds of your choice. You can choose the funds as per your risk appetite.
Why Buy?
Your future is defined by your goals for yourself and your loved ones. You would like to ensure that nothing comes in the way of achieving these goals - buying the perfect house for your family or enrolling your child in a college abroad. Whatever be your goal, you would not want to compromise financially for any of these important milestones in your life. The plan offers:
Emerging Leaders Equity Fund
Generate long term capital appreciation through investments predominantly in mid cap stocks
Life Cover
You can choose your Life Cover based on your protection needs from Life Option, Care Option and Century Option. You can choose to get a life cover till you turn 1004.
Premium
Payment Term
You can choose a Premium Paying Term (5, 10 years or more upto 30 years) to suit your earning capacity.
Premium Redirection
You can modify the allocation of future premiums once in a policy year. The revised allocation proportion will apply to your subsequent premiums.
Return of Mortality Charge5
Return of Mortality Charge is available on Maturity under all three cover options.
Premium Funding Benefit6
The feature ensures that the company will fund the premiums till the end of the premium payment term in case something happens to you.
Auto Funds Rebalancing
You can maintain allocation of your savings in a specific proportion across different Unit Linked Funds, irrespective of market movements by using this option.
Safety Switch Option
You have the option to switch your money to low risk fund as your policy nears maturity.
Frequently Asked Questions
1. Are Unit Linked Insurance Plans (ULIPs) safe?
If you are looking to have a financial instrument to buy for a long-term horizon, ULIPs can be considered safe. You can choose which funds to invest in as per your risk appetite. With ULIPs, investments made can be tracked from time to time and you have the option to switch between funds too.
2. When is the best time to buy a ULIP?
A ULIP Plan can prove to be beneficial, if you stay invested in it for long-term. Mostly, ULIPs have a lock-in period of 5 years, post which you can partially withdraw from your ULIP Fund. However, the best time to buy a Unit Linked Insurance Plan (ULIP) is whenever you start earning. The earlier you start, the better you can expect due to power of compounding
3. How to maximize ULIP Returns?
Generally, people find ULIPs as an investment instrument because it provides protection along with returns. You can maximize your ULIP returns in various ways and some of the ways to maximize the returns from a ULIP Plan are listed below:
a) Determine your financial goals
b) Start early to get the benefit of power of compounding
c) Keep an eye on market trends as ULIP Plans offer fund switching
d) Stay invested for long-term with a ULIP Plan for better returns
e) Invest with a disciplined approach
4. How to track ULIP fund value?
The value of a ULIP fund can be estimated by multiplying the number of units in each fund by the fund's current Net Asset Value (NAV). The NAVs are available on the company's website. By logging into your account on our website, you may also keep track of the value of your investment.
5. What are the charges associated with a ULIP Plan?
There are different charges that are associated with a ULIP plan and they are:
a) Premium Allocation Charge
b) Fund Management Charge
c) Policy Administration Charge
d) Mortality Charge
e) Surrender/Discontinuance Charge
f) Switch Charge
g) Premium Redirection Charge
6. Are returns on investment guaranteed in a ULIP Plan?
ULIPs are life insurance plans that allow you to invest also. A ULIP Plan, like any other investment instrument, does not offer a guaranteed return on investment. However, if you enjoy taking risks and want to maximise your investing returns in a ULIP Plan, equity funds are the way to go.
7. What are the benefits of buying a ULIP Plan online?
Investing in a ULIP Plan can have multiple benefits and some of them are:
Tax Benefits7 - It aids in the reduction of tax liabilities under Section 80C of the Income Tax Act. You can avail tax benefits up to Rs. 46,8007.
b) Long-term Growth — It has a long-term advantage, if you stay invested in a ULIP Plan. The longer you invest, the better it is.
c) Protection + Investment - ULIPs provide both life insurance and returns. Balanced funds, debt funds, and equity funds are all examples of this. Depending on your needs and risk tolerance, you can invest in any of them.
d) Flexibility – A ULIP Plan allows you to switch between funds based on your risk tolerance. You could choose from a variety of funds and investment techniques.
e) Partial withdrawal option – This option allows you to make a partial withdrawal after the lock-in period of the ULIP Plan has ended, in the event of an unplanned medical emergency or contingency.
8. What is the monthly premium for Invest 4G – Online ULIP?
The minimum premium of Rs. 20008 (excluding taxes) is available under monthly mode with Life Option. The minimum premium for other premium payment modes will vary.
1) Loyalty Additions starting from the end of every 5th policy year from the commencement of the policy and is available till the end of Premium Payment Term, provided all the due premiums till date have been paid.
2) Wealth Boosters additions at the end of every 5th policy year starting from 10th policy year, provided all the due premiums till date have been paid.
3) Partial withdrawal is allowed 6th policy year onwards, provided all due premiums for first 5 policy years have been paid. For Systematic Withdrawal option and Milestone Withdrawal Option kindly refer product brochure for more information.
4) Available with Century option.
5) Mortality Charges deducted during the Policy Term for Regular and Limited Premium Paying policies will be added to the Fund Value at maturity, provided all due premiums have been received till the maturity date.
6) Available with Care Option.
7) Tax benefit of ₹ 46,800/- is calculated at the highest tax slab of 31.2%(including 4% cess) for an assessee on life insurance premium of ₹ 1.5 lacs under Income Tax Act, 1961 and tax benefit may vary from assessee to assessee. Tax benefits/savings are subject to provisions under section 80 C, 80 CCC, 80 D, 10(10A), 10(10D) and other sections of the Income Tax Act, 1961. The provisions of Income Tax Act, 1961 are subject to amendments made by the government from time to time. Goods & Services Tax will be charged on the premium amount. Please consult your independent tax advisor for details.
8) The minimum premium of Rs. 2000 (excluding taxes) is available under monthly mode with Life Option. The minimum premium for other premium payment modes will vary.
- Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document issued by the insurance company
- The Unit linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Unit linked Insurance Products completely or partially till the end of the fifth year
- The investment risk in investment portfolio is borne by the policyholder.
- The SFIN (Segregated Fund Index Number) for: Emerging Leaders Equity Fund is ULIF02020/12/17EMLEDEQFND136
- For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
- 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.
- Canara HSBC Life Insurance Company Limited is only the name of the insurance company and Canara HSBC Life Insurance Invest 4G is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
- Unit linked Insurance products are different from the traditional insurance products and are subject to the risk factors.
- The premium paid in Unit linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
- The premium shall be adjusted on the due date even if it has been received in advance.
- The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects and returns.
- Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.
- The premiums & funds are subject to certain charges related to the fund or to the premium paid.
- Collection of advance premium shall be allowed within the same financial year for the premium due in that financial year. However, where the premium due in a financial year is being collected in previous financial year, the premium may be collected for a maximum period of three months in advance of the due date of the premium. The premium so collected in advance shall only be adjusted on the due date of the premium. Such advance premium, if any, paid by the Policyholder shall not carry any interest.
Trade Logo of Canara HSBC Life Insurance Company Limited (formerly known as Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd) hereinafter referred to as "Insurer" is used under license with Canara Bank and HSBC Group Management Services Limited.
The Insurance products are offered and underwritten by Insurer (IRDAI Regn. No. 136) having its head office at Canara HSBC Life Insurance Company Limited, 139 P, Sector - 44, Gurugram - 122003, Haryana, India.
For more details on risk factors, terms and conditions please read the Sales Brochure carefully before concluding a sale.
Corporate Identity No.-U66010DL2007PLC248825 Website: www.canarahsbclife.com
Call (Toll free no.): 1800-103-0003/1800-180-0003/1800-891-0003
SMS: 9779030003
Missed Call: 0124-6156600
Email: customerservice@canarahsbclife.in
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