Canara Bank’s joint venture (JV) -- Canara HSBC Life Insurance Company has launched its latest product ‘SecureInvest’, a non-participating, Unit Linked Individual Life Insurance Savings Plan designed to align with the evolving financial goals and life stages of policyholders. SecureInvest combines high life cover offering up to 100 times of the Annualized Premium with the potential for market-linked growth.
This plan is packed with consumer-friendly features. Policyholders are rewarded for their long-term commitment with Loyalty Additions starting at the end of the 10th policy year and recurring every 5th year thereafter, along with Maturity Boosters at the end of the policy term. Policyholders may also benefit from tax advantages on premiums paid and benefits received, as per prevailing tax laws.
The plan also includes 12 fund choices, six portfolio management strategies, and features like partial withdrawals, premium redirection, and fund switching offering policyholders' greater control over their investments.
Canara HSBC Life Insurance Company is a joint venture promoted by Canara Bank (51 per cent) and HSBC Insurance (Asia Pacific) Holdings (26 per cent).
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
