PRNewswire
New Delhi [India], April 7: Canara HSBC Life Insurance Company Limited ("Canara HSBC Life Insurance"), has announced the launch of Promise4Wealth, a next-generation Unit Linked Individual Savings Life Insurance Plan (ULIP). Designed for individuals seeking a balanced approach to long-term wealth creation and financial protection, Promise4Wealth enables participation in market-linked returns while offering the assurance of life insurance--bringing together investment and protection in a more transparent, value-driven, and outcome-focused manner. The product is available through multiple distribution channels including Policybazaar, licensed intermediaries and direct digital platforms channels of the company.
- Features three plan variants--Maximiser, Shield, and LongLife; offers Zero Premium Allocation Charge Offers policyholders access to passive fund linked to the BSE 500 Enhanced Value 50 Index, focused on strong yet undervalued companies
As customer preferences evolve, portfolios are increasingly being shaped by solutions that combine growth potential with financial security--whether for wealth accumulation, planning for children's future, or retirement planning. Addressing these expectations, Promise4Wealth comes with a Zero Premium Allocation Charge, ensuring that 100% of the premium is invested in the policyholder's chosen funds from inception. Additionally, Mortality Charges (for select plan options) and Policy Administration Charges are returned to the fund value at maturity, directly enhancing long-term outcomes.
Promise4Wealth offers three distinct plan options:
- Promise4Wealth Maximiser: Provides life insurance protection throughout the policy term and pays the fund value at maturity. Designed for individuals focused on building and maximising their investment corpus over time, this option is well suited for long-term wealth creation.
- Promise4Wealth Shield: Ensures continuity of savings even in the unfortunate event of the policyholder's demise. Under the Premium Funding Benefit, all future premiums are paid by the Company upon death of the policyholder. The nominee receives the Sum Assured as a lump-sum death benefit, along with a monthly income equal to 1/12th of the annualised premium for the remaining policy term, subject to a maximum of 120 months.
- Promise4Wealth LongLife: Offers life cover up to age 100 and is designed for customers seeking to build, preserve, and pass on a lasting financial legacy across generations.
Commenting on the launch, Rishi Mathur, Chief Distribution Officer - Alternate Channels and Chief Marketing Officer, Canara HSBC Life Insurance, said, "At Canara HSBC Life Insurance, our focus has been on creating solutions that reflect evolving customer expectations. Today's customers seek clarity, transparency, and better alignment between what they invest and the value they ultimately receive. Promise4Wealth brings this philosophy to life by combining market-linked growth with meaningful protection--hallmarks of a modern life insurance solution."
Promise4Wealth also provides flexibility to invest across a broad range of unit-linked funds spanning equity, balanced, debt, and liquid options, enabling customers to align investments with their risk appetite and financial goals. The plan further rewards long-term commitment through Loyalty Additions and Wealth Boosters, which are credited periodically to the fund value, subject to all due premiums being paid. Promise4Wealth features a passive fund option linked to the BSE 500 Enhanced Value 50 Index, which invests in fundamentally strong businesses that are currently undervalued, giving investors an opportunity to enter quality companies at attractive valuations.
About Canara HSBC Life Insurance:
Incorporated in 2007, Canara HSBC Life Insurance Company Limited is a joint venture promoted by Canara Bank (36.5%) and HSBC Insurance (Asia Pacific) Holdings Limited (25.5%). Punjab National Bank is also a shareholder of the Company, holding 13% as an investor, while the remaining 25% is held by other public shareholders and other investors. The Company has its corporate office at Gurugram, Haryana and more than 100 branch offices as of December 31, 2025, pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks.
For almost 18 years now, Canara HSBC Life Insurance has sold insurance products to customers through multiple channels and a well-diversified network of Canara Bank, HSBC Bank and its other bancassurance partners located in multiple [Tier 1, 2 and 3] cities across the country. Canara HSBC Life Insurance has a vast portfolio of life insurance solutions and offers various products across individual and group spaces comprising of life, term plans, retirement solutions, credit life, and employee benefit segments through partner banks and digital.
With an aim to provide simpler insurance and faster claim process, Canara HSBC Life Insurance intends to keep the promises of their customers alive with their "Promises Ka Partner" philosophy.
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