Announcement

Canara HSBC Life Insurance Company Limited announced the launch of the Global Wealth Plan (UIN: 2026L002V01), an individual, unit‑linked, non‑participating life‑insurance‑cum‑savings product offered through the International Financial Services Centre (IFSC) at GIFT City. The plan is denominated in US dollars and is being distributed exclusively via the digital insurance marketplace Policybazaar, targeting Non‑Resident Indian (NRI) customers.

Product Structure and Options

The Global Wealth Plan provides investors with USD‑denominated exposure to a range of global equities, precious metals such as gold and silver, and debt funds. The offering carries no allocation or administration charges, ensuring that the full premium is invested. Three purpose‑led variants are available:

  • Wealth – designed for long‑term wealth creation.
  • Wealth Plus – includes a Premium Funding Benefit that, upon the life‑assured’s death, pays the sum assured immediately and funds all future premiums, allowing the policy to continue to maturity.
  • Wealth Forever – provides whole‑life cover to support legacy creation and inter‑generational wealth transfer.

All three variants include life‑insurance benefits. Additional fund‑enhancement features such as Loyalty Additions and Maturity Boosters are applied according to the selected option, boosting the overall fund value.

Distribution and Partnerships

The plan is sold through Policybazaar, a leading digital insurance platform that has issued 71.6 million policies up to June 2026 and partners with 55 insurers. Policybazaar’s Chief Business Officer, Vivek Jain, highlighted the growing NRI demand for diversified global portfolios and affirmed the partnership with Canara HSBC Life Insurance to deliver this solution.

Canara HSBC Life Insurance’s Chief Distribution Officer and Chief Marketing Officer, Rishi Mathur, emphasized that the product combines USD‑denominated investing, globally diversified fund options and life‑insurance protection, allowing customers to align investments with goals such as wealth building, child education or legacy planning.

Company Background

Incorporated in 2007, Canara HSBC Life Insurance is a publicly listed company co‑promoted by Canara Bank (36.5 %) and HSBC Insurance (Asia‑Pacific) Holdings Limited (25.5 %). Public shareholders, including Punjab National Bank (13 %), hold the remainder. The insurer operates from its corporate office in Gurugram, Haryana, and maintains 107 branches across India as of 30 September 2026. It distributes products through a bancassurance network that includes Canara Bank, HSBC Bank and other partners in Tier 1, 2 and 3 cities, offering life, term, retirement, credit‑life and employee‑benefit solutions.

Regulatory and Licensing Details

Policybazaar Insurance Brokers Private Limited is registered as a Composite Broker (CIN: U74999HR2014PTC053454) with IRDA registration No. 742 (IRDA/DB 797/19) valid until 09 June 2027, and holds an IFSCA IIIO licence (IFSCA/IIIO/026/2025‑26) also valid until 09 June 2027. Its GIFT City branch is located at Shilp Incubation Centre, Office No. SI‑M‑B014, Unit B, 1st Floor, Plot 11 T3 & 11 T5, Block 11, Gift SEZ City, Gandhinagar, Gujarat‑382355.

Contact

Press queries may be directed to prateek.sharma@canarahsbclife.in.