Canara HSBC Life Insurance introduced a non-linked and non participating product Guaranteed Assured Income (GAIN) – a life insurance and savings plan designed to give financial stability and security to the users with the flexibility to change their coverage period based on the financial requirements and aspirations.
Guaranteed Assured Income is a guaranteed recurring income stream that ensures policyholders’ financial stability. Customers who choose GAIN have the option of selecting an income term ranging from 5 to 39 years, which corresponds to different life stages and income requirements. The plan also caters to the consumers’ diverse budgets by offering flexible premium payment arrangements.
The adaptable Option provides three various plans to satisfy the needs of customers. Short-term and long-term income options offer both recurring income and a lump amount at maturity. The Early Income Option provides immediate income with a total benefit equivalent to 100% of premiums paid.
The plan includes life insurance for the financial security of the family, an alternative savings source for one’s goals, and a guaranteed income stream with premium return flexibility. GAIN combines life insurance and wealth building in a smooth manner, ensuring a family’s financial well-being and a secure investment with advantages.
Commenting on the launch of the product, Akshay Dhand, Appointed Actuary, Canara HSBC Life Insurance says, “Canara HSBC Life Insurance is proud to launch “Guaranteed Assured Income – GAIN”, the name itself affirms that a customer while opting for the policy stands assured of the guaranteed returns basis their purchase and desired requirements. The life insurance plan is thoroughly designed to provide families with unmatched financial stability and security in a longer run. GAIN offers guaranteed regular income stream with the flexibility to get the premiums back at the end of policy term.”
