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Canara HSBC Life Wealth Edge

Eligibility Criteria

Entry Age:

Maturity Age:

Premium Amount:

Above minimum installment premiums are exclusive of Goods and Services Tax & applicable cess(es) / levy, if any. Single Premium is applicable only under Invest Plus.

Benefits

Death Benefits

Invest Plus and Life Plus:

Higher of:

• Sum Assured less partial withdrawals/ withdrawals under MWO / withdrawals under SWO, if any, in the preceding two years, or
• Fund Value as on date of intimation of death claim, or
• 105% of all Premiums paid up to the date of death Policy will terminate on payment of death benefit

Premium Plus

Higher of:

• Sum Assured, or
• 105% of total premiums paid up to the date of death.

The future premiums are waived and the Fund Value is paid at maturity to the nominee

Maturity Benefit

Fund Value as on the date of maturity is payable. The policyholder / nominee will also have the option to take fund value on maturity in periodic installments as per settlement option.

Choice of Funds or Portfolio Management Options

You can choose from a range of 8 different Unit Linked Funds with different risk appetites. Alternatively you may select one among following 4 different Portfolio Management Options to manage and build on wealth in an optimal way.

• Systematic Transfer Option (STO)
• Return Protector Option (RPO)
• Auto Funds Rebalancing (AFR)
• Safety Switch Option (SSO)
• Loss Protector Strategy (LPS)

Choose Your Funds

This option gives you the flexibility to manage & control the investment in your own way. Here you can 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.

• Emerging Leaders Equity Fund
• India Multi-Cap Equity Fund
• Equity II Fund
• Growth Plus Fund
• Balanced Plus Fund
• Large Cap Advantage Fund
• Debt Fund
• Liquid Fund

1. Systematic Transfer Option (STO)

If you want to invest in equity oriented fund but worry about market volatility and risk associated with lump sum investment, then you can opt for STO which enables you to enter the equity market in a systematic manner. Through this option, your entire Premium will be first allocated to the Liquid Fund and then systematically transferred on a monthly basis into any one of the Unit Linked Funds - Emerging Leaders Equity Fund or India Multi-Cap Equity Fund or Equity II Fund or Large Cap Advantage Fund as chosen by you.

2. Return Protector Option (RPO)

This option enables you to take advantage of the equity market by protecting your gains from the future equity market volatility. Through RPO, starting from the 2nd Policy Year onwards, your gains made from a equity fund basis your chosen 'Target Appreciation' are automatically transferred to a lower risk Debt Fund. This way, your gains are protected from further market volatility.

3. Auto Funds Rebalancing (AFR)

If you wish to maintain allocation of your investments in a specific proportion across different Unit Linked Funds, irrespective of market movements, you can do so through Auto Funds Rebalancing. Once opted, after every 3 months, it automatically rebalances the allocation of your investments in various Unit Linked Funds to the allocation proportions chosen by you.

4. Safety Switch Option (SSO)

As your policy nears maturity, you may want to avoid market movements and safeguard your funds. The Safety Switch Option enables you to move your funds systematically to a relatively low risk Liquid Fund at the beginning of each of the last four Policy Years.

5. Loss Protector Strategy (LPO)

This option enables you to protect your investments in case of a market downturn by protecting your investments from the future equity market volatility. Through LPS, in case of losses your investments shall be transferred from high risk to low risk funds basis your chosen 'Target Depreciation'. This way, your investments are protected from further market volatility.

Loyalty Additions

Your plan offers regular loyalty additions in the form of extra allocation of units to your Unit Linked Fund(s), provided that all due Premiums till date have been paid. These regular loyalty additions will be added to the Unit Linked Fund(s) at the end of the each Policy Year, starting from the 6th Policy Year onwards till the end of chosen Policy Term. Each loyalty additions will be 0.5% of the average Fund Values of the last 12 monthly Policy anniversaries.

Wealth Boosters

This plan also offers the additional allocation of units which will be added to the Unit Linked Fund(s) at specific Policy intervals provided all due Premiums till date have been paid. These Wealth Boosters will be a percentage of the average Fund Value of last 60 monthly Policy anniversaries. The percentages of Wealth Boosters are as mentioned below:

Other Benefits

Systematic Withdrawal Option (SWO): This plan also offers a systematic partial withdrawals facility called SWO. 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. The Policyholder can choose for SWO option at inception or anytime during the Policy Term. The availability / operation of this option will be subject to certain conditions.

Milestone Withdrawal Option (MWO): 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 as on the date of payment will be given to the policyholder. The availability / operation of this option will be subject to certain conditions.

Partial withdrawal: This product allows the policyholder to make partial withdrawals from 6th policy year onwards provided all due Premiums for first 5 policy years have been paid or Life Assured attaining 18 years of age, whichever is later.

Return of mortality charge: This feature is available under all three options. An amount equal to the total of all the mortality charges deducted during the policy term will be added to the fund value at the maturity date, provided all due premiums have been received till the maturity date, subject to certain conditions.

Change in Premium Payment Term: You have the flexibility to change your Premium Payment Term anytime after paying first 5 Policy Years Premiums, in order to align it with your changing financial situation. The increase or decrease in Premium Payment Term will be subject to acceptance by the Company as per its Underwriting Policy and terms & conditions of this plan.

Increase or Decrease of Sum Assured: You can choose to alter your Sum Assured based on your protection needs, from the 6th Policy Year subject to underwriting acceptance.

Option to increase Policy Term: You have the flexibility to change your Policy Term anytime after paying first 5 Policy Years Premiums, in order to align it with your changing horizon. The increase or decrease in Premium Payment Term will be subject to acceptance by the Company as per its Underwriting Policy and terms & conditions of this plan.

Settlement Option: You can choose to receive your maturity benefit through Settlement Option in installments as per the frequency chosen by you, over a maximum period of 5 years. You may opt for complete withdrawal of Fund Value at any time during this period, and you may opt for complete withdrawal of Fund Value at any time during this period.

Reduction in premium: After payment of premiums for the first five completed policy years, the policyholder will have an option to decrease the premium payable under the policy up to 50% of the annualised premium, subject to the minimum premium limits as applicable basis the cover option opted. Premium reduction shall be subject to certain conditions

Tax Benefits^#

Tax Benefits as per the Income Tax Act, 1961 as amended from time to time, may be available. For tax related queries, contact your independent tax advisor