Canara HSBC Life Insurance has introduced “Alpha Wealth”, a program designed to empower individuals to reach ambitious life goals. This plan not only serves as a shield of life insurance but also ensures the fulfilment of promises and secures the future of their loved ones.
The program provides extensive features to guarantee financial security for both the insured and their family. It promotes long-term savings through loyalty additions and wealth boosters, enabling customers to enhance their corpus by remaining invested. The product presents a range of options for investment in various funds such as debt, equity, and liquid funds available in the market. Upon maturity, investors are eligible for a full refund of the mortality charges deducted throughout the policy term.
The product also offers heightened flexibility, allowing investors to adjust premiums, premium payment terms, policy duration, and sum assured to accommodate evolving financial needs.
Commenting on the launch of the product Akshay Dhand, Appointed Actuary, Canara HSBC Life Insurance says, “Canara HSBC Life Insurance is delighted to present Alpha Wealth, a linked individual savings life insurance plan meticulously designed to cater to the precise needs of individuals striving to attain ambitious life goals. This all-encompassing plan not only provides life cover for the enduring financial protection of your family but also promotes long-term investments. With the inclusion of loyalty additions and wealth boosters, investors can enhance their corpus by staying committed to their investments.”
The insurance scheme offers flexibility by allowing you to select from three plan options based on your life stages: Alpha Invest Plus, Alpha Premium Plus, or Alpha Life Plus.
Alpha Premium Plus provides an extra layer of protection tailored to manage all financial responsibilities in the event of the policyholder’s absence. In the unfortunate event of the policyholder’s death during the policy term, the nominee will receive the lump sum death benefit.
Additionally, all future premiums will be waived and covered by the company on behalf of the policyholder. At the policy maturity date, the nominee will receive the fund value. The product also features a facility to access accumulated wealth based on individual needs through options such as Systematic Withdrawal Option (SWO) and Milestone Withdrawal Option (MWO).
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Published: 16 Dec 2023, 01:19 PM IST
