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Key Takeaways
Promise4Growth is a Unit Linked Insurance Plan (ULIP) that offers life cover, tax-saving benefits under Sections 80C and 10(10D), and customizable investment options.
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We now take a look at the Best Life Insurance Plans by Canara HSBC Life Insurance.
Promise4Growth Plus: Promise4Growth Plus is a unit linked insurance plan that offers a wide range of options to invest your savings along with the benefit of a life insurance cover. Here are the key features and benefits of this plan. Death benefit: In the unfortunate event of the death of the policyholder, the family will get higher of the following: Sum assured less applicable partial withdrawals Fund value as on date of intimation of death claim 105% of all premiums paid up to the date of death Choice of funds: The plan offers a choice of 7 different funds and 4 portfolio strategies for investment. Based on your risk capacity, you can choose to allocate the premium in all or a combination of unit linked funds. You have the flexibility to switch between funds to benefit from market movements. Return of mortality charges: Mortality charges deducted during the policy term are added to the fund value on maturity. Loyalty additions: The plan offers fund value related loyalty additions at the end of the 5th policy year, 10th year, 15th year and so on. Wealth boosters: Along with loyalty additions, the plan offers wealth boosters based on premium payment term. These are added in the same proportion as the value of total units held in the unit linked funds. Partial withdrawals: You also have the option to make partial withdrawals to meet unplanned contingencies.