Canara HSBC OBC Life launches iNVESTSHIELD plan

The plan has a 'premium funding' option where in the event of life insured's death, apart from benefit payout, insurer funds remaining premiums for the term

Canara HSBC Oriental Bank of Commerce Life Insurance has launched a new linked insurance product 'iNVESTSHIELD' that aims to protect and meet an individual's present and future financial needs.

This is an online linked plan with ‘Premium Funding’ option whereby in the event of the life insured’s death —  in addition to the immediate benefit payout (higher of Sum Assured or 105% premium paid), the insurer funds the remaining premiums for the remaining policy term  and the fund value is also paid on maturity. 

The customer also has a flexibility of multiple funds depending upon the risk appetite and switching between funds as well as systematic investment.