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Promise4Growth Plus

A Spectrum Of Options, A Promise Of Growth

  • Whole Life Cover
  • 13 Fund Options
  • Return of Mortality Charges 
  • 4 Portfolio Management Options

A Spectrum Of Options, A Promise Of Growth

  • Whole Life Cover
  • 13 Fund Options
  • Return of Mortality Charges 
  • 4 Portfolio Management Options

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*Terms and Conditions Apply

For more details on risk factors, terms and conditions please read the Sales Brochure carefully before concluding a sale.

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About Promise4Growth Plus

In this policy the investment risk in investment portfolio will be borne by the policyholder

UIN: 136L093V01

Canara HSBC Life Insurance Promise4Growth Plus - A Unit Linked Individual Savings Life Insurance Plan which can be customized as per your goals and changing requirements. With an unmatched combination of Portfolio Management Options and flexibilities, this plan gives you complete control over your savings and insurance needs.

Plan Options

Promise4Wealth Plus

A simple option that provides life coverage during the Policy Term and the accumulated fund value of your savings at maturity.

Promise4Care Plus

An option that provides life coverage and ensures that your savings contributions are made even in your absence by means of ‘Premium Funding Benefit’, where all future premiums get funded by the Company, thus ensuring a secure future for your dependents.

Promise4Life Plus

Option that will cover you till you turn 100 years of age! And also allows you to leave a legacy for your loved ones.

Why Buy Canara HSBC Life Insurance Promise4Growth Plus Plan?

Key Highlights of Promise4Growth Plus Plan:
 

  • Life Cover: Keep your loved ones financially safe, throughout the policy term.
  • Three Plan Options to choose from: Choose from 3 plan options i.e. ‘Promise4Wealth Plus’, ‘Promise4Care Plus’ or ‘Promise4Life Plus’ basis your life stage needs
  • Low Charges: Maximize your savings opportunity. Only Fund Management Charges and Risk Charges^ levied on your Policy
  • Return of Mortality Charges (RoMC): Mortality Charges deducted during the Policy Term will be added to the Fund Value at maturity
  • Premium Funding Benefit: To ensure your targeted savings contributions are made even in your absence
  • Multiple Funds: Option to choose from a bouquet of 13 funds
  • Multiple Portfolio Management Options: Optimize returns from the Policy as per your investment preference
  • Increased Flexibilities: Flexibility of choosing to pay for the entire Policy tenure or for limited years, altering your premium payment term, and policy term
  • Additionally available through the Online Channel
  • Avail Tax benefits: You may avail tax benefits on the premium paid and benefits received as per prevailing tax laws under the Income Tax Act, 1961, as amended from time to time

Risk Charges include Mortality Charges & Premium Funding Benefit (PFB) charges. PFB charges are applicable only under the Promise4Care Plus option.

Download Forms

Product Brochure
Customer Information Sheet
Policy Document
Promise4Life Plus Flyer
Promise4Care Plus Flyer
Promise4Wealth Plus Flyer

Death Benefit

Plan OptionFor In-Force Policy
Promise4Wealth Plus and Promise4Life PlusHigher of:

  1. Sum Assured less withdrawals1, if any, in the preceding two years, or
  2. Fund Value as on date of intimation of death claim, or
  3. 105% of all Premiums paid up to the date of death.
    The Policy shall terminate after the payment of any of the above benefits.
Promise4Care Plus2

Higher of the following will be payable as a lump sum:

  1. Sum Assured, or
  2. 105% of all Premiums paid up to the date of death

Premium Funding Benefit2 will also become payable. All the charges, except Mortality charges & Premium Funding Benefit charges, shall continue to be deducted from the unit account until maturity of the Policy. At maturity, Fund Value is payable as a lumpsum or as per Settlement Option chosen by the Policyholder before death.

Income Benefit - In case of death of the Life Assured, 1/12 of the Annualized Premium will be provided as a monthly income starting from the next policy anniversary date post death payable till the end of the Policy Term subject to a maximum income period of 120 months.

 

  1. Withdrawals here include partial withdrawals as well as withdrawals done under ‘Systematic Withdrawal Option’ and ‘Milestone Withdrawal Option’.

  2. Under Promise4Care Plus, after the death of Life Assured, the Claimant will have limited rights only to the extent of making requests for change of address and contact details and receiving the Maturity Benefit under the Policy in the manner as opted by the Policyholder. The Claimant will not be able to alter or opt out of any fund related options (Systematic Withdrawal Option, Milestone Withdrawal Option, Premium Redirection, Switching, Partial withdrawal, Systematic Transfer Option, Return Protector Option, Auto Fund Rebalancing, Safety Switch Option, Settlement Option, Surrender etc.) as chosen by the Policyholder before his / her death.

Maturity Benefit

On Maturity of the Policy, following benefits are payable under the Plan Options:

  • Promise4Wealth Plus and Promise4Life Plus options: In case the Life Assured survives till the maturity of the Policy, Fund Value as on the date of maturity is payable and the Policy will terminate upon payment of such benefit.
  • Promise4Care Plus option: Fund Value as on the date of maturity is payable to the Life Assured, if the Life Assured is alive or to the Claimant, if the Life Assured is not alive.

You also have the option to receive Maturity Benefit as a structured payout using Settlement Option under Promise4Wealth Plus Option and Promise4Care Plus option.

Additions in the fund

 

  • Loyalty Additions from end of 5th Policy Year from the date of commencement and every 5th Policy Year thereafter i.e. 10th, 15th 20th Policy Year etc. till end of Premium Paying Term.
  • Wealth Boosters at end of 10th Policy Year from the date of commencement and every 5th Policy Year i.e. 15th, 20th Policy year etc. thereafter till end of Policy Term
  • Mortality Charges deducted during the Policy Term will be added to the Fund Value at maturity

Portfolio Management Options

1.Systematic Transfer Option (STO)

Reduces risks associated with lumpsum investing by investing in the equity market in a systematic manner. Entire Premium will be invested in the Liquid Fund and then systematically transferred on a monthly basis into an Equity Fund.

2. Return Protector Option (RPO)

Protects investment gains from future market volatility. Automatic transfer of investment gains from Equity Fund to Debt Fund.

3. Auto Funds Rebalancing (AFR)

Helps in maintaining investments in a specific proportion across different Unit Linked Funds, irrespective of market movements. After every 3 months, the investments are automatically rebalanced in in various Unit Linked Funds to the allocation proportions chosen by you.

4. Safety Switch Option (SSO)

The funds are systematically moved to a relatively low risk Liquid Fund in the last four policy years to avoid market movements and safeguard the funds near policy maturity

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Choose from a range of 13 Unit Linked Funds 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.

  1. Large Cap Advantage Fund
  2. Midcap Momentum Growth Index Fund
  3. Emerging Leaders Equity Fund
  4. India Multi-Cap Equity Fund
  5. Equity II Fund
  6. Growth Plus Fund
  7. Balanced Plus Fund
  8. Debt Fund
  9. Liquid Fund
  10. India Manufacturing Fund
  11. Multicap Momentum Quality Index Fund
  12. Nifty Alpha 50 Index Fund
  13. Nifty 500 Multifactor 50 Index Fund

Enhanced Flexibilities

1. Milestone Withdrawal Option (MWO)

MWO is a systematic partial withdrawal facility. In this option, at the end of the 10th Policy Year and every 5th year thereafter (excluding the milestone coinciding with the Policy maturity date), 20% of the available fund value on the date of payment will be given to the Policyholder subject to Life Assured attaining 18 years of age as on the date of the payout.

2. Partial Withdrawals

This product allows the Policyholder to make partial withdrawals from 6th policy year onwards free of charge provided all due Premiums for first 5 policy years have been paid and the Life Assured has attained the age of 18 years.

3. Systematic Withdrawal Option (SWO)

SWO is a systematic partial withdrawal facility. Under this option, a pre-decided percentage of the fund value will be withdrawn and paid to the Policyholder at a chosen frequency for the remainder of the Policy Term.

4. Change in Premium Payment Term

Flexibility to change your Premium Payment Term to align it with your changing financial situation.

5. Option to Increase Policy Term

Flexibility to change your Policy Term to align it with your changing horizon.

6. Settlement Option

Option to receive your maturity benefit through Settlement Option in installments as per the frequency chosen, over a maximum period of 5 years.

7. Premium Redirection

This facility allows the Policyholder to modify the allocation of future premiums into the Unit Linked Funds in a different investment pattern from the option exercised previously by the Policyholder.

8. Switching

Switching allows the Policyholder to change the investment pattern during the Policy Term / Settlement Period by moving amounts invested in one fund to other fund(s) that are offered under this product.

9. Change in Premium Payment Mode

The Policyholder can change the premium payment mode by submitting a written request to the Company anytime during the PPT.

10. Option to Reduce Premium

You can choose to reduce your premium basis your financial needs.

Eligibility
Conditions		Promise4Wealth PlusPlan Options
Promise4Care Plus
Promise4Life Plus
Entry Age10 – 65 years

For PPT < 10: 18 – 45 years

For PPT >= 10: 18 - 50 years

For PPT < 10: 18 – 55 years

For PPT >= 10: 18 – 65 years

Maturity Age18 – 80 years

For PPT < 10: 28 – 70 years

For PPT >= 10: 28 – 75 years

Up till age 100 years
Policy Term
(in Years)		10 - 30 years10 - 25 years100 minus Age at entry
Premium Paying Term (PPT)Limited Pay: 5 to PT-1 years
Regular Pay: Same as PT
Sum Assured10 X Annualized Premium2
Annualized Premium2₹ 12,000 – No Limit
Premium Payment Mode3Annual, Semi- Annual, Quarterly and Monthly


Note:

  1. The definition of age used is age as on last birthday. The entry ages given above are only applicable for policies issued with standard mortality rates.
  2. Annualized Premium means the premium amount payable in a year excluding taxes, rider premiums and underwriting extra on riders, if any
  3. You may change your Premium Payment Mode anytime during the Policy Term by submitting a written request at least 60 days prior to the next Policy Anniversary. The change in Premium payment mode will be effective only on the next Policy Anniversary. Change in Premium Payment Mode is not allowed post the death of Life Assured under Promise4Care Plus plan option. The Company may accept the first 3 month’s premiums in advance at Policy inception for monthly payment policies. 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.

FAQs on Promise4Growth Plus

Promise4Growth Plus is a versatile Unit Linked Insurance Plan that combines protection with wealth creation. It offers three flexible variants, market-linked growth opportunities, loyalty additions, wealth boosters, and a return of mortality charges at maturity, helping you secure your life goals while building long-term financial value.

Premiums can be paid annually, semi-annually, quarterly, or monthly, enabling you to align contributions with your cash flow and financial planning.

Yes, you can change your premium payment frequency during the policy term by submitting a written request at least 60 days before the next policy anniversary. The change will take effect from that anniversary. Please note, this option is not available under the Promise4Care Plus variant after the life assured’s death.

Promise4Growth Plus offers a choice of 12 Unit-Linked Funds, spanning equity, multi-cap, debt, liquid funds, and more. Options like Systematic Transfer Plan, Return Protector, and Auto Rebalancing enhance investment flexibility. 

There are no premium allocation or policy administration charges. However, fund management charges (0.50%-1.35% p.a.) apply, along with mortality, surrender/discontinuance, and Premium Funding Benefit charges (for select options).

Yes, if the life assured passes away due to suicide within 12 months from the policy commencement or its revival, the nominee will receive the fund value as on the date of intimation of death. Additionally, any charges (except Fund Management Charges) deducted after the date of death will be added back to the fund value. The policy will terminate once this benefit is paid.

Yes, the Promise4Growth Plus plan allows partial withdrawals after a 5-year lock-in. You can withdraw a portion of your fund value, subject to policy terms and limits. It’s useful for emergencies but may reduce overall returns and insurance cover. Always review charges before withdrawing. You can use features like Milestone Withdrawal and Systematic Withdrawal Option for planned liquidity.

If you stop paying premiums in the first 5 years, your fund value (after charges) moves to the Discontinued Policy Fund (DPF) and is paid after the lock-in or on revival. After 5 years, the policy continues with reduced benefits, and you can revive it within 3 years.

The best time is when you seek long-term wealth creation along with insurance protection. ULIPs benefit most when invested early, giving more time for compounding and market growth. Consistent premium payments over 10-15 years help average out market fluctuations, maximising value and protecting your financial goals.

Yes, the Promise4Growth Plus plan includes built-in benefits like Milestone Withdrawal, Systematic Withdrawal, and Premium Fund Advantage.

Yes, premiums paid are eligible for tax deductions under Section 80C, subject to limits. Maturity proceeds and withdrawals may also qualify for tax exemptions under Section 10(10D), provided conditions are met. 

Please note: 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.

Returns are market-linked and depend on the performance of chosen funds, such as equity, debt, or balanced. After deducting charges, the Net Asset Value (NAV) determines your fund value. Over time, consistent investment and compounding drive returns. Performance varies with market conditions, so fund choice and investment horizon are key.

To file a claim, submit the claim form with required documents such as policy details, identity proof, and, in case of death, a death certificate. The insurer verifies the documents, processes the request, and settles the claim within regulatory timelines, typically through direct bank transfer.