Overseas Indian investors can access international equities and precious metals alongside life insurance coverage.
Canara HSBC Life Insurance Company Limited has launched the Global Wealth Plan, an individual, unit-linked, non-participating life insurance-cum-savings product offered through Gujarat International Finance Tec-City (GIFT City).
The product provides non-resident Indian (NRI) investors with US dollar-denominated investment and life coverage options.
It is distributed through Policybazaar to allow NRI customers to invest in international equities, gold, silver, and global debt instruments.
The plan features no allocation or administration charges.
It offers three variants: Wealth, focused on capital accumulation; Wealth Plus, which includes a Premium Funding Benefit that pays the sum assured upon the policyholder’s death while funding future premiums until maturity; and Wealth Forever, which provides whole-life coverage. Selected variants also include loyalty additions and maturity boosters.
Rishi Mathur, Chief Distribution Officer of Alternate Channels and Chief Marketing Officer at Canara HSBC Life Insurance, said the product addresses evolving NRI demand for USD-based long-term wealth creation combined with life insurance cover.
Vivek Jain, Chief Business Officer for Life Insurance at Policybazaar, stated that the partnership gives NRI clients access to internationally diversified portfolios alongside structured life insurance coverage.