Canara HSBC Oriental Bank of Commerce have recently launched a new ULIP plan 'iNVESTSHIELD' that is designed to protect the needs of today and tomorrow. A Unit Linked Insurance Plan is basically a combination of insurance and investment. The investments you do will be divided into two parts, a part of insurance and other one is mutual funds which consists of equity, debt and money market schemes.
iNVESTSHIELD is an exclusive online linked plan designed for customers who wants things done at ease on their mobile phones or laptops. Online exclusive plans give hassle free buying experience and are inexpensive as they exclude the cost incurred by the agent. iNVESTSHIELD is a feature rich plan with USP being 'Premium Funding' option. In case of unfortunate event, premium funding option entitles immediate payout higher than sum assured or 105% of premium paid. The insurance company will fund the remaining premium for the remaining policy and the fund value will be paid on maturity.
iNVESTSHIELD plan gives dual results, wealth accumulation plus protection. The customer has the choice of switching between funds which helps you to avoid the market movements and safeguards your funds as policy nears maturity. The policy is best suited for young parents as the policy premium is paid by the company till maturity in case of any unfortunate event.
TheIndianCapitalist.com has listed down the benefits of Canara HSBC Oriental Bank of Commerce iNVESTSHIELD ULIP plan.
- Flexibility to customise the plan as per one's need.
- Zero premium allocation charge throughout the premium payment term of the policy.
- Loyalty Additions for additional allocation of units to boost the retirement fund.
- Choice of Investment Funds ranging from 0% to 100% equity exposure, to match one's risk appetite.
- Premium waiver benefit option which helps the parents to plan a secure future for their children.
- Safety Switch Option enables one to move funds systematically to a relatively low risk Liquid Fund to avoid market movements in the last four policy years.
- Liquidity through partial withdrawals to help meet unplanned financial needs.
- Tax benefits on premium paid and benefit received during Policy term under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, subject to change in amendments.
TheIndianCapitalist.com is of a view that iNVESTSHIELD plan by Canara HSBC Oriental Bank of Commerce has a lot to offer to netizens. You can buy this plan here.
- Chaitanya Kulkarni
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