Canara HSBC OBC INVESTSHIELD Plan (This Plan Has Been Discontinued)

• Invest in 5 available fund options
• Flexibility to customize the plan
• 3 benefit options to choose from
• Receive fund value as maturity benefit
• Loyalty Additions to boost your savings
• Safety Switch Option to safeguard funds
• Zero premium allocation charge
• 24 free switches during a policy year
• Simple procedure to buy the plan online
• Enjoy tax benefits

This policy offers following 5 investment funds and you have the option to invest in any one or combination of fund options.

• Equity II Fund
• Growth Plus Fund
• Balanced Plus Fund
• Debt Fund
• Liquid Fund

Death Benefit

In the event of death of the life assured during the policy term, the Death Benefit is payable as per the option chosen.

Life Option
Before age 60 years, the Death Benefit payable is higher of sum assured less partial withdrawals (in preceding two years), 105% of all premiums/single premium paid or Fund value. On attaining 60 years or above, the Death Benefit payable is higher of sum assured less partial withdrawals (after attaining 58 years of age), 105% of all premiums/single premium paid or Fund value.

Life Option with Accidental Death Benefit (ADB)
It offers Death Benefit as per ‘Life Option’ Plus Accidental Death Benefit (ADB) sum Assured equal to sum Assured of the policy. Accidental Death Benefit is payable in case of accidental death of the life assured.

Life Option with Premium Funding Benefit (PFB)
This benefit offers death benefit as higher of sum assured or 105% of total Premiums paid (as on the date of death) In addition to the above, all future premiums are funded by the Company and Fund Value is paid on maturity.

If the policy is in discontinuance state, the Death Benefit is equivalent to the proceeds of Discontinued Policy Fund.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Fund Value calculated on prevailing NAVs is payable.

Settlement Option

At maturity, you can opt to receive your money in installments over a maximum period of 5 years. This option can be exercised 3 months prior to the end of the policy term. No life cover is applicable during this settlement period.

Loyalty Addition

For Single Premium Payment Option (Policy Term of 10 years), Loyalty Additions of 4% is payable once at the end of the 10^th policy year. For Regular and Limited Premium Payment Option (Policy Term less than 15 years), Loyalty Additions of 5.6% is payable once at the end of the 10^th policy year. For the Policy Term equal to 15 years, Loyalty Additions of 5.6% is payable at the end of the 10^th policy year & 2.2% is payable at the end of the 15th policy year.

Loyalty Addition is a percentage of the average Fund Value of the last 60 monthly Policy anniversaries.

Safety Switch Option

Safety Switch Option helps you to move funds systematically to a relatively low risk Liquid Fund in the last 4 policy years.

Switching

You can switch among 5 available fund options to suit your changing investment needs. The minimum switch amount allowed is Rs 5,000.

Premium Re-direction

Premium Re-direction facility is available to alter the allocation proportion of your future premiums into one or more fund options available.

Partial Withdrawal

Partial Withdrawal is allowed from 6^th policy years onwards. The partial withdrawal facility takes care of any unforeseen financial need. The minimum partial withdrawal amount allowed is Rs 5,000. The minimum fund value required after such withdrawal should be at least equal to 120% of the annualized premium (regular/limited premium payment policy) and 25% of the single premium (single premium payment policy).

Bonus

The plan is not eligible for the bonuses, as it is a non-participating insurance plan.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the fund value less applicable discontinuance charges is credited to the ‘Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. The proceeds after addition of interest subject to a minimum guaranteed interest rate of 4% per annum or as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately. The policy will terminate and the risk cover will cease, upon surrendering the policy.

No rider is available under this plan.

Premium Allocation Charges: No Premium Allocation Charge is levied.

Policy Administration Charge: For Single premium Payment Option, Policy administration charge is 0.18% of the single premium for the first 5 policy years only. For Regular & Limited Premium Payment Option, 0.30% of annualized premium is applicable during the entire policy term. This charge increases @20% after every five years starting from 6^th policy year. The Policy administration charge is subject to a maximum of Rs 500 per month. This charge is deducted at the beginning of each policy month by cancellation of units.

Mortality Charges: Mortality charge is based on the age of the life insured and Sum at Risk. This charge is deducted every month by cancellation of units. For Accidental death benefit under Life Option with ADB, a fixed charge of Rs 0.60 per 1000 per annum of ADB sum assured is levied.

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a for Equity II Fund, Growth Plus Fund, & Balanced Plus Fund, 1% p.a for Debt Fund, 0.80% p.a for Liquid Fund, 0.50% p.a for Discontinued Policy Fund. Fund management charge for Debt Fund and Liquid Fund may be revised up to 1.35% p.a on prior approval from IRDAI.

Discontinuance Charge: This charge is levied, in case the policy is discontinued during the first 4 policy years. This charge is levied as applicable under the policy terms & conditions. For more details, please refer the policy brochure.

Switching Charge: You can avail 24 free switches during a policy year. A charge of Rs 250 is levied per switch when opted for subsequent switches in the same policy year. This charge can be revised to Rs 500, with prior approval from IRDAI.

Premium Re-direction: Premium re-direction once in a policy year is available.

Partial Withdrawal: 4 free partial withdrawals are allowed during a policy year. A charge of Rs 250 is levied when opted for subsequent withdrawal in the same policy year. This charge can be revised to Rs 500, with prior approval from IRDAI.

Miscellaneous Charges: Charge for change in the premium payment mode after policy issuance, is levied up to Rs 250. This charge can be revised to a maximum of Rs 500, upon prior approval from IRDAI.

Taxes: The charges mentioned under this plan are subject to applicable tax and cess, as applicable.

Tax benefits can be availed under section 80C & 10(10D) under the Income Tax Act, subject to change in tax laws.

Illustrative Example: Rahul, aged 30, is planning to invest annually on a regular basis in iNVESTSHIELD Plan a period of 15 years. He can utilize the various "Benefit Options" in order to fulfill his different needs.

Scenario 1: Life Option
Rahul’s need is to create maximum wealth over a period of 15 years to create an asset for his family.Hence Rahul chooses 'Life Option' under this plan. The table below shows maturity values for multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in Equity II Fund.



Scenario B- Life Option with ADB:
Rahul is recently married and looking for some additional protection due to enhanced responsibility.

His need is to create long term wealth with extra safety through additional protection to cover for any unfortunate event. Hence Rahul chooses 'Life Option with ADB'. The table below shows maturity values with multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in Equity II Fund.

Scenario C- Life Option with PFB:
Rahul is married & have a 3 years old daughter. Rahul's need is to create a corpus for the future of his daughter. He is looking for a customized solution which ensures that in an event of death the family's immediate needs are met & in the meantime his dream for providing a corpus to his daughter is also met. Hence Rahul chooses 'Life Option with PFB' under this plan. The table below shows maturity values with multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in a Balanced Plus Fund.