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To Buy: 1800-258-5899 (9:30 AM to 6:30 PM)
For Existing Policy: 1800-103-0003/ 1800-180-0003/ 1800-891-0003
customerservice@canarahsbclife.in
Contact us
To Buy: 1800-258-5899 (9:30 AM to 6:30 PM)
For Existing Policy: 1800-103-0003/ 1800-180-0003/ 1800-891-0003
customerservice@canarahsbclife.in
In this policy the investment risk in investment portfolio will be borne by the policyholder
UIN 136L085V01
Canara HSBC Life Insurance Wealth Edge, a Linked Individual Savings Life Insurance Plan, designed as per your needs. This plan recognizes the importance of your life goals and helps you fulfil them along with the added shield of life insurance to protect you and your family against any uncertainties in the future. It empowers you to deliver the promises you have made to your near and dear ones.
Depending upon your financial need, you can select your plan option (any ONE) from the following available options under this product.
Death Benefit
Higher of:
Maturity Benefit
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.
5. Loss Protector Strategy (LPO)
Protect investments in case of a market down turn. In case of a downturn in market investment is transferred from high risk to low risk funds, thus reducing the risk.
Choose from a range of 8 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.
Loyalty Additions
Regular loyalty additions at the end of the each Policy Year, starting from the 6th Policy Year onwards till the end of chosen Policy Term equal to 0.5% of the average Fund Values of the last 12 monthly Policy anniversaries.
Wealth Boosters
| At the end of | Wealth Booster (as a percentage of the average Fund Value of the last 60 monthly Policy Anniversaries) |
|---|---|
| 10th Policy Year | 2.90% |
| 15th Policy Year and thereafter at the end of every 5 Policy Years | 1.50% |
Return of Mortality Charges
Total of all the Mortality Charges deducted during the Policy Term will be added to the Fund Value at the maturity date.
Change in Premium Payment Term
Flexibility to change your Premium Payment Term to align it with your changing financial situation.
Increase or Decrease of Sum Assured
Option to alter your Sum Assured based on your protection needs.
Option to increase Policy Term
Flexibility to change your Policy Term to align it with your changing horizon.
Settlement Option
Option to receive your maturity benefit through Settlement Option in installments as per the frequency chose, over a maximum period of 5 years.
Option to reduce premium
You can choose to reduce your premium basis your financial needs.
Ritika, aged 40 years is a wealthy businesswoman and is looking for a financial solution which will help her expand her business. She opts for Canara HSBC Life Insurance Wealth Edge -Invest Plus option and opts for limited premium payment mode with a Policy Term of 20 years and a Premium Payment Term of 10 years along with a life insurance cover of 10 times the Annualized Premium. She decides to pay an Annual Premium of Rs. 5 Lakhs and opts for Systematic Transfer Option (STO) investment strategy.
Maturity Benefit
Ritika, with a disciplined contribution, at the end of 20 years is not only able to create a substantial corpus but also developed a habit for savings towards a strong financial future.
Death Benefit: In case of Ritika’s unfortunate death in the 15th policy year, the death benefit payable is:
| Eligibility Criteria | Minimum | Maximum |
|---|---|---|
| Age at entry | 0 years | 70 years |
| Maturity Age | 18 years | 80 years |
| For Single Pay | ||
|---|---|---|
| SA Cover Multiple | Age at entry (in years) | PT (in years) |
| 10 X | 0 to 38 | 5 to 20 |
| 39 to 44 | 5 to 10 | |
| 45 to 47 | 5 | |
| 1.25 X | 0 to 70 | 5 to 30 |
| For Limited Pay | ||
| Age at Entry (in years) | PPT (in years) | PT (in years) |
| 0 – 55 | 5/7/10/15/20/25 | 10 to 30 |
| 56 – 60 | 7/10/15 | 10 to 20 |
| 5 | 10 to 15 | |
| 61– 65 | 7/10/15 | 10 to 15 |
| For Regular Pay | ||
| Age at Entry (in years) | PPT (in years) | PT (in years) |
| 0 – 70 | Same as PT | 10 to 30 |
For Single Premium- 1.25 times Single Premium basis Age at Entry
For Regular/ Limited Premium- 7 times Annualized Premium
| Age at Entry (in years) | Limited Pay | Regular Pay | Single Pay | |
|---|---|---|---|---|
| PT <=20 years | PT > 20 years | |||
| 0-30 | 40 | 40 | 40 | 10 |
| 31-40 | 25 | 20 | 40 | 10 |
| 41-45 | 20 | 15 | 30 | 10 |
| 46-47 | 15 | 10 | 20 | 10 |
| 47+ | 10 | 10 | 10 | 1.25 |
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