Canara HSBC Life Insurance introduced Alpha Wealth, a plan that enables individuals to pursue ambitious life goals by providing a shield of life insurance to ensure the fulfilment of commitments and the future of their loved ones.
The plan has extensive features to safeguard the insured’s and their family’s financial security. It also encourages long-term savings with loyalty bonuses and wealth boosters, allowing consumers to increase their corpus by remaining invested. The product provides a number of alternatives by investing in a wide range of market funds – debt/equity/liquid. Investors are also entitled to a return of 100 per cent of the mortality charges deducted during the policy term upon maturity. The product provides greater flexibility by allowing investors to change premiums, premium payment terms, policy terms, and sum assured to meet changing 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 plan is adaptable, with three plan alternatives based on your life stage: ‘Alpha Invest Plus,’ ‘Alpha Premium Plus,’ or ‘Alpha Life Plus.’
Alpha Premium Plus adds an extra layer of protection, meant to handle all financial responsibilities in the policyholder’s absence. In the event of an untimely death within the Policy Term, the Nominee will receive the Lump Sum Death Benefit, and all future premiums will be waived and borne by the company on behalf of the policyholder, as well as the Fund Value, at the policy maturity date. The package also includes the ability to access the earned wealth as needed through the Systematic Withdrawal Option (SWO) and Milestone Withdrawal Option (MWO).
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In an uncertain world, Alpha Wealth is meant to provide not only financial protection but also the ability to accumulate wealth over time.
