Canara HSBC Life Insurance Company Ltd has launched Global Wealth Plan, a unit-linked life insurance and savings product for non-resident Indians (NRIs), offering access to global investment opportunities through GIFT City.
The individual, non-participating plan combines US dollar-denominated investments with life insurance protection. It is currently being distributed through Policybazaar, expanding access to NRI customers seeking international investment and protection solutions.
Three options for financial goals
The plan offers three variants: Wealth for long-term wealth creation, Wealth Plus with a Premium Funding Benefit to protect family financial goals, and Wealth Forever with whole-life cover for legacy creation and wealth transfer. All three options include life benefits.
The product has no allocation or administration charges, allowing more of the customer’s premium to remain invested. It also offers Loyalty Additions and Maturity Boosters, depending on the selected variant, to enhance the overall fund value.
Goal protection under Wealth Plus
Under Wealth Plus, if the life assured dies during the policy term, the sum assured is paid immediately. The insurer funds all future due premiums, allowing the policy to continue until maturity.
GIFT City, an International Financial Services Centre, enables NRIs to access internationally diversified investments through a regulated framework.
The ability to invest and receive benefits in US dollars may also help customers plan for future expenses and financial obligations in the same currency.
Insurer targets evolving NRI needs
“Customer needs of Non-Resident Indians are evolving rapidly, with a growing preference for solutions that combine long-term wealth creation with financial protection. Through our partnership with Policybazaar, we are expanding access to global investment opportunities via GIFT City,” Canara HSBC Life Insurance, Chief Distribution Officer – Alternate Channels and Chief Marketing Officer, Rishi Mathur, said.
“Global Wealth Plan brings together USD-denominated investing, globally diversified fund options and life insurance protection within a single solution,” he said.
Policybazaar said the offering addresses rising demand among NRI customers for portfolio diversification and participation in global growth opportunities through GIFT City.