The plan empowers individuals to achieve ambitious life goals, providing a shield of life insurance
FinTech BizNews Service
Mumbai, December 13, 2023: Canara HSBC Life Insurance has launched Alpha Wealth - a plan empowers individuals to achieve ambitious life goals, providing a shield of life insurance ensuring the fulfillment of promises and secure the future of their loved ones.
The plan offers comprehensive features to ensure financial security for the insured and their family. It also encourages long-term savings with loyalty additions and wealth boosters, allowing customers to boost corpus by staying invested. The product offers an array of options by investing in a wide variety of funds - debt / equity / liquid available in the market. At maturity, investors are also entitled to a return of 100% of the mortality charges deducted during the policy term. The product offers increased flexibility, allowing investor to alter premiums, premium payment term, policy term and sum assured to accommodate changing financial requirements.
Commenting on the launch of the product Mr. 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 flexible in terms of providing to choose from three plan options based on your life stages: ‘Alpha Invest Plus,’ ‘Alpha Premium Plus,’ or ‘Alpha Life Plus.’
Alpha Premium Plus offers an additional layer of protection which is designed to handle all financial responsibilities in the absence of the policyholder. In case of an unfortunate death during the Policy Term, the Nominee will receive the Lump Sum Death Benefit and all future premiums will be waived and will be borne by the company on behalf of the policyholder, and the Nominee will receive the Fund Value, at the policy maturity date. The product also comes with a facility to access the accumulated wealth as per one’s needs with Systematic Withdrawal Option (SWO) and Milestone Withdrawal Option (MWO).
In a world filled with uncertainties, Alpha Wealth is designed to provide not just financial security but also to empower you to accumulate wealth in a long run.
