Life insurance company Canara HSBC life insurance has launched a non-linked, non-participating individual savings life insurance plan “Guaranteed Fortune Plan”. The company said that this new offering is also a POS (Point of Sale), life insurance product. The product offers two plan options with the flexibility to the customers, the first option is the Guaranteed Savings Option for those desirous of achieving goals and pays a lump sum amount on survival till the completion of the policy term.
Another option Guaranteed Cash Back option gives customers liquidity in the form of assured cash back after every five policy years with the option to defer the amount and deposit it till the policy maturity or withdraw it earlier. At the end of the tenure, apart from cash back, a lump sum amount is also paid.
The plan also includes a unique feature ‘Care Pay Benefit’, which is an in-built benefit and pays 100% of all premiums paid till the date of death (excluding extra underwriting premium and taxes) on intimation of death Is. This is an accelerated benefit, which is paid as soon as the intimation is received and the rest of the death benefit is paid after the claim is assessed.
Anuj Mathur, MD & CEO of the company, said, “This offering will benefit customers who want to save for any life stage/goal by providing assured savings/cash-back and financial security for the family She goes. With this plan, customers will be able to increase their savings for their goals and achieve their financial goals, as well as get faster returns, which is very important in today’s situation. We have been delivering on promises to our customers for over a decade and strive to be their “Partner of Promises” by creating insurance products that are innovative and tailored to customer needs are.”