“Invest 4G”, Plan With Added Benefits Launched By Canara HSBC OBC Life Insurance
By: Sneha Chaudhary
Canara HSBC Oriental Bank of Commerce Life Insurance has unveiled a new Unit Linked Insurance Plan (ULIP) named ‘Invest 4G.’ It is an individual life insurance retirement package that can be adapted to the individual’s objectives and evolving criteria.
This Unit Linked Insurance Plan cum Investment Package offers a combination of Portfolio Management Choices and Flexibilities. It allows the option of opting for cover to meet each individual’s requirements, as well as an ability to save towards potential objectives.
New “Invest 4G” provides three alternatives for individuals: The Life Option, the Treatment Option, and the Century Option. Life choice gives financial security to the family in the event of a client’s tragic death. Care Choice offers life insurance along with Premium Funding Gain and Century Plan is a longevity option available to policyholders up to 100 years of age.
Key Features of the Plan
Death Benefits
- Life option and Century Option
Higher Amount Guaranteed (less applicable Partial Withdrawal / Systematic Withdrawal / Milestone Withdrawal) or Fund Value will be paid as of the date of intimation of the death allegation and the scheme will be ended.
- The flexibility of Single Pay
Includes both 10x cover multiple and 1.25x cover multiple, Single Premium Payment Option added.
- Systematic Withdrawal Option
For the remainder of the policy period, a pre-decided amount ranging from 1% to 12% of the fund value will be charged to the policyholder at the frequency selected. PPT needs to be equivalent to or greater than ten years.
- Milestone Withdrawal Option
For enhanced liquidity at regular milestones.
- Premium Withdrawal Option
After payment of premiums for the first five Policy Years, option to decrease the premium up to 50% of the original Annualized Premium.
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited, MD & CEO, Mr Anuj Mathur says, “Canara HSBC Commerce Life Insurance Oriental Bank has always been in the forefront of innovating new policies and incentives that are best for the market and satisfy the needs of consumers. The new Invest 4 G package is a package ideal for internet consumers of the new era that has been updated to include life savings as well as numerous saving opportunities that match individuals’ financial needs. We are optimistic that this product, which comes with three options: Life Option, Treatment Option and Century Option, will fulfil our customers’ new needs and life goals.”
