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Invest 4G

Invest 4G Plan

Achieve your life goal & save tax.

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About Invest 4G

In this policy the investment risk in investment portfolio will be borne by the policyholder UIN:136L064V02.

You have dreams for yourself and your loved ones. You work hard & earn to accomplish these dreams and provide your loved ones a better future. In order to build a better life and realize your dreams, you always need to plan ahead. That's why you need a comprehensive solution that helps you achieve these dreams and can also be customized to match your needs while giving you peace of mind. Keeping this in mind, we have introduced our new plan "Canara HSBC Oriental Bank of Commerce Life Insurance Invest 4G" - A protection and savings oriented Unit Linked Insurance Plan which not only gives you choice to opt for protection suitable to you but also provides you opportunity to save for your dreams & life goals. Moreover, it adds back to your savings through Loyalty Additions & Wealth Boosters and also returns the Mortality Charges on policy maturity thereby maximizing your savings.

Why Buy

Our Invest 4G is a unit linked life insurance plan that offers multiple choices to invest your savings along with the benefit of a life insurance cover. With this plan you can create wealth for yourself to fulfil your dreams

  • Choose between 7 different funds and 4 portfolio strategies to invest your money.
  • Loyalty Additions & Wealth Boosters as additional allocation of units to boost your savings.
  • Return of Mortality Charge on Maturity under Benefit Option 1 (Life Option).
  • Flexibility of switching and redirection between the fund options to take advantage of market movements or change in risk preference.
  • Option for partial withdrawals to help you meet unplanned contingencies or meet changing needs of your family.
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Death Benefits


1. Life option & Whole of Life Option

In the unfortunate event of your demise while the Policy is in-force, your family will receive higher of:

  • Sum Assured less applicable partial withdrawals, or
  • Fund Value as on date of intimation of death claim
  • 105% of all Premiums, paid up to the date of death

2. Life option with Premium Funding Benefit

This plan helps you remain at peace knowing that your family's immediate and future financial needs are taken care of even in case of your demise. In the unfortunate event of your demise, higher of the following as lump sum will be paid immediately:

  • Sum Assured or,
  • 105% of all Premiums, paid up to the date of death.
  • Plus
  • All future Premiums are funded by the Company as and when due, and
  • Fund Value is paid on maturity

Maturity Benefits


On maturity, you will receive the Fund Value based on the prevailing NAVs. You also have the option to take Fund Value on maturity in periodic installments as per Settlement Option. (The details on Settlement Option is given below).

Return of Mortality Charge


An amount equal to the total of all the Mortality Charges deducted during the Policy Term will be added to the Fund Value at the maturity date, provided all due premiums have been received till the maturity date. This feature is only available under Benefit Option 1 (Life Option) and is not available under the other two Benefit Options.

Choose your Funds or Portfolio Management Option


This Plan gives you the flexibility to manage & control the savings in your own way. Here you can choose from a range of 7 Unit Linked Funds. You can choose to allocate your Premiums to any, all or a combination of the Unit Linked Funds as per your risk preference.

  • Emerging Leaders Equity Fund
  • India Multi-Cap Equity Fund
  • Equity II Fund
  • Growth Plus Fund
  • Balanced Plus Fund
  • Debt Fund
  • Liquid Fund

Alternatively, you may select one among following 4 different Portfolio Management Options to manage and build on wealth.

1. Systematic Transfer Option (STO)

If you want to invest in equity-oriented fund but worry about market volatility and risk associated with lump sum investment, then you can opt for STO which enables you to enter the equity market in a systematic manner. Through this option, your entire Premium will be first allocated to the Liquid Fund and then systematically transferred on a monthly basis into any one of the Unit Linked Funds - Emerging Leaders Equity Fund or India Multi-Cap Equity Fund or Equity II Fund as chosen by you.

2. Return Protector Option (RPO)

This option enables you to take advantage of the equity market by protecting your gains from the future equity market volatility. Through RPO, starting from the 2nd Policy Year onwards, your gains made from an equity fund basis your chosen 'Target Appreciation' are automatically transferred to a lower risk Debt Fund. This way, your gains are protected from further market volatility.

3. Auto Funds Rebalancing (AFR)

If you wish to maintain allocation of your investments in a specific proportion across different Unit Linked Funds, irrespective of market movements, you can do so through Auto Funds Rebalancing. Once opted, after every 3 months, it automatically rebalances the allocation of your investments in various Unit Linked Funds to the allocation proportions chosen by you.

4. Safety Switch Option (SSO)

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.

Loyalty Additions


Your plan provides fund value related Loyalty Additions from the end of every 5th policy year starting from the commencement of the Policy i.e. 5th Policy Year, 10th Policy Year, 15th Policy year etc. provided all the due premiums are received till that time. The Loyalty Additions will be added in the same proportion as the value of total units held in the unit linked funds at the time of additions. The Loyalty Additions will be equal to 0.5% of the average Fund Value of last 60 monthly policy anniversaries.

Wealth Boosters


In addition to the Loyalty Additions, your Plan offers Wealth Boosters based upon Premium Payment Term as per the table below, provided all due premiums have been received till the time of the additions. The Wealth Boosters will be paid as a percentage of average Fund Value of last 60 monthly policy anniversaries and will be added in the same proportion as the value of total units held in the unit linked funds at the time of additions.

End of Policy Year
Fund Value (₹) at the end of 15 years assuming Gross Investment Return of

Between 10 - 14

Between 15 - 19

Between 20 - 24

Between 25 - 29

30

10

1.0%

1.0%

1.0%

1.0%

1.0%

15

NA

1.5%

1.5%

1.5%

1.5%

20

NA

NA

2.0%

2.0%

2.0%

25

NA

NA

NA

2.5%

2.5%

30

NA

NA

NA

NA

3.0%

For Regular Premium policies under Benefit Option 3 (Whole Life Option), Wealth Boosters of 3% of average Fund Value of last 60 monthly policy anniversaries will continue to be paid in gap of every 5 years, post completion of first 30 Policy Years, provided all premiums are received till that time.

Other Benefits


Settlement Option: You can choose to receive your maturity benefit through Settlement Option in instalments 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 during this period.

Tax Benefits#


You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of 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.

Illustration 1: Rahul, aged 30, is planning to pay premiums annually on a regular basis in Invest 4G. He can utilize the various "Benefit Options" in order to fulfil his different needs.

Scenario 1:
Rahul opts for 'Life Option' under this plan with Premium Paying Term & Policy Term of 15 years to create an asset for his family.

Maturity Benefit:


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 (₹)
Total Premium Paid (₹)
Total Maturity Benefit (Fund Value) at the end of 15 years

4%##

8%##

50,000

5,00,000

7,50,000

9,30,684

12,94,374

75,000

7,50,000

11,25,000

13,96,027

19,41,561

1,00,000

10,00,000

15,00,000

18,61,369

25,88,748

Scenario 2: Rahul is married & have a 3 years old daughter. Rahul's 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 family's 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' under this plan.

Maturity Benefit


The table below shows maturity values with multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in an Equity Fund II.

Annual Premium (₹)
Sum Assured (₹)
Total Premium Paid (₹)
Total Maturity Benefit (Fund Value) at the end of 15 years

4%##

8%##

50,000

5,00,000

7,50,000

9,07,350

12,64,765

75,000

7,50,000

11,25,000

13,61,025

18,97,148

1,00,000

10,00,000

15,00,000

18,14,700

25,29,531

Illustration 2: Mr. Singh, age 40, chooses Benefit Option 3 (Whole of Life Option) in our Invest 4G plan, to pay annual premiums for a period of 20 years as shown below. He gets a Sum Assured of 15 times [(70-40) X 0.5] the annual premium.

Maturity Benefit


The table below shows fund values for multiple scenarios at age 99 assuming annual gross investment return of 4% and 8% with 100% investment in Balanced Plus Fund.

Annual Premium (₹)
Sum Assured (₹)
Total Premium Paid (₹)
Total Maturity Benefit (Fund Value) at age 99.

4%##

8%##

50,000

7,50,000

10,00,000

33,92,603

2,30,94,868

75,000

11,25,000

15,00,000

50,88,905

3,46,42,302

1,00,000

15,00,000

20,00,000

67,85,207

4,61,89,736

##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 Goods and Services Tax & applicable cess (es)/levy, if any, (@18%).

Entry Age (Life Assured)


Life Option

Minimum

18 years

Maximum

50 years

Life Option with PFB

Minimum

18 years

Maximum

50 years

Whole of Life Option

Minimum

18 years

Maximum

50 years

Max. Maturity Age


For Life Option

Minimum

23 years

Maximum

80 years

For Life Option with PFB

Minimum

28 years

Maximum

80 years

POLICY TERM


Option
Premium Payment Option
Premium Payment Term (PPT) (in years)
Policy Term (PT) (in years)
Life Option

Limited Pay

5,6,7,8,9,10,15,20,25

5 to 30 years (inclusive)

Regular Pay

Same as PT

5 to 30 years (inclusive)

Life Option with PFB

Limited Pay

10,15,20,25

10 to 30 years (inclusive)

Regular Pay

Same as PT

10 to 30 years (inclusive)

Whole of Life Option

Limited Pay

10,15,20,25,30

99-Age at entry

Regular Pay

Same as PT

99-Age at entry

For ages below 45:


10 times the Annualized Premium or

0.5 * T * Annualised Premium#

For ages 45 and above:


10 times the Annualized Premium or

0.25 * T * Annualised Premium#

Where T is the Policy Term for Option 1 (Life option) & Option 2 (Life Option with Premium Funding Benefit Option). For Option 3 (Whole of Life Option),T shall be taken as 70-age at entry #Annualized premium is the sum of total due Premium(s) in a Policy Year during Premium Payment Term

Premium Amount & Premium Payment Modes


Mode
Minimum
Maximum

Annual

₹ 50,000/- per annum

No Limit

Half Yearly

₹ 30,000/- semiannual

No Limit

Quarterly

₹ 15,000/- per quarter

No Limit

Monthly*

₹ 5,000/- per month

No Limit

*Please note that the Company may accept first 3 month's Premium in advance and subsequently through standing instruction.

FAQs

Under the Invest 4G Unit Linked Insurance Plan, you may be entitled to tax benefits under Section 80C and Section 10(10D), as per the Income Tax Act, 1961. These include, first of all, tax benefit on the premium paid towards a ULIP. This amount of premium is allowed as a deduction under Section 80C of the Income Tax Act up to a limit of Rs 1.5 lakhs. The next tax benefit is in the form of tax savings on the withdrawals made or the amount you receive as a part of the policy, whether it is the maturity benefit received at the culmination of the plan or death benefit received by the beneficiary upon the death of the policyholder or a partial withdrawal during the term of the plan. All such receipts are tax-free in the hands of the receiver. The plan also allows for partial withdrawals, so that you can tend to any liquidity requirements or emergencies that strike. You can make these partial withdrawals in multiples of 1000s, 6th policy year onwards, provided all due premiums for first 5 policy years have been paid. These partial withdrawals made without completely surrendering the whole plan, are also completely tax-free

Apart from these, the ULIP plans tax benefits also extend to their exemption from the Long-term capital gains tax. Often referred to as the LTCG tax for short, this tax provides for the taxation of the profits made through long-term investments. ULIPs, including the Invest 4G plan, are exempt from this tax.

A lock-in period is, as the name suggests, the period during which you are locked into the ULIP scheme. During this period, as you are not able to make withdrawals.

In the case of Invest 4G ULIPs, the lock-in period is 5 consecutive policy years from the date of commencement of policy during which no benefits will be payable, except in case of death of the life assured.

This is in line with the latest guidelines of the Insurance and Regulatory Development Authority of India (IRDAI). In 2010, the lock-in period was extended from 3 years to 5 years, including top-up premiums. This increase was brought in to signify that ULIPs are meant to serve the purpose of long-term investment goals.

If you surrender or discontinue the ULIP during this 5-year stipulated period, you will receive no liquidity or payout at the end of 5th policy year only. Withdrawals are allowed after the end of the lock-in. Here’s how this works: if you stop paying premiums during the lock-in period, you are given the option to either revive the policy within the revival period or go ahead with the withdrawal from the policy without any risk cover at the end of the lock-in period.

As is clear, it is advisable to stay invested in your Unit Linked Insurance Plan for longer durations to be able to reap the benefits. You can always exercise the option of fund switching if you feel like they’re underperforming, but it is always a good idea to stay invested for longer period even beyond the lock-in period.

Sometimes emergency strikes and there is a need for liquid funds. It is understandable that you might want to draw into your investments. For this purpose, you are allowed to make partial withdrawals without having to completely surrender it. Partial withdrawals are allowed from the 6th year, i.e. when the lock-in period is over and all premiums for the first 5 policy years have been paid. You are allowed to take a minimum amount of Rs. 5000 and a maximum partial withdrawal amount that leaves the fund value at least 120% of the annualized premium immediately after the withdrawal. You can make as many partial withdrawals as needed in a policy year, subject to the above conditions, free of charge.

In fact, if you have chosen Life Option with Premium Funding Benefits, then the amount of your death benefit is not reduced by the partial withdrawals made by you.

However, if you wish to surrender your investment in the Invest 4G Unit Linked Insurance Plan, then it is treated differently. If you surrender the policy within the first 5 policy years, that is within the lock-in period, then surrender charges are levied on the fund value and this amount is transferred to the Discontinued Policy Fund and will earn at least a minimum guaranteed interest rate of 4% or as prescribed by IRDAI from time to time. The proceeds of the discontinued policy will be paid to you only after completion of the 5th policy year. On the other hand, if you surrender after the 5-year lock-in period, the fund value will be paid to you immediately without any surrender charges or penalty.

By definition, a maturity benefit refers to a lump-sum amount that the insurance company pays you upon the maturity of the insurance policy, i.e. when the policy term ends. In the case of Invest 4G Unit Linked Insurance Plan, this is no different.

The Invest 4G policy matures at the end of the policy term as chosen by you at inception. You will receive an amount equivalent to the Fund Value which is calculated on the basis of the prevailing NAVs (Net Asset Value) multiplied by number of units at maturity. Once you receive this fund value, all the benefits in policy gets terminated.

Under this plan, the minimum sum assured is Rs 5 lakhs. Here is the sum assured paid as maturity benefit in case the life assured is below 45 years of age: higher of either a) 10 times the annualized premium or b) 0.5 T annualized premium. If the life assured is 45 years of age or above, the sum assured is higher of either a) 10 times the annualized premium or b) 0.25 T annualised premium. Here T is the Policy Term for Option 1 (Life option) & Option 2 (Life Option with Premium Funding Benefit Option). For Option 3 (Whole of Life Option), T shall be taken as 70-age at entry.

Apart from this, the Invest 4G Plan also provides fund value related Loyalty Additions from the end of every 5th policy year starting from the commencement of the Policy i.e. 5th Policy Year, 10th Policy Year, 15th Policy year etc. if you have paid all the premiums.

Yes, the Invest 4G ULIP offers death benefits. Like any other Life Insurance Plan, the Invest 4G Plan also comes with the provision of death benefits. Death benefits imply that in the case of the unfortunate death of the life assured during the term of the policy, death benefits are paid to the beneficiary or nominee or the claimant as per the policy documents.

What is the quantum of death benefits paid depends on the option chosen by the life assured under the scheme. There are three benefit options. The first is Life Option. This means that the death benefit paid out is the higher amount of either a) Sum assured less partial withdrawals made during the last two years b) Fund Value as on the date of intimation of death claim c) 105% of all the premiums paid up to the date of death.

The Second Option is the Life Option with Premium Funding Benefits. Under this option, death benefits are paid as higher of one of the following as a lump sum: a) Sum Assured b) 105% of all premiums, paid up to the date of death. Besides this, the Fund Value is paid when it reaches maturity and all future premiums are paid for by the insurer as and when due.

The third option is the Whole of Life Option. Under this option, the death benefits are equivalent to higher amount of either a) Sum Assured less partial withdrawals, if any, in the preceding two years, or b) the fund value as on the date of intimation of death claim, or c) 105% of all premiums paid up to the date of death.

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