Canara HSBC Life Introduces US Dollar-Denominated Global Wealth Plan

Canara HSBC Life Insurance has launched its Global Wealth Plan through Gujarat International Finance Tec-City (GIFT City), as per a CNBC TV18 news report.  

The US dollar-denominated unit-linked insurance plan (ULIP) is being distributed through Policybazaar and is aimed at non-resident Indians (NRIs) looking to combine life insurance with investments in international markets. 

Three Variants Under the Plan 

The policy is available in three variants: Wealth, Wealth Plus, and Wealth Forever. Wealth is intended for long-term wealth creation, while Wealth Plus includes a Premium Funding Benefit. Wealth Forever provides whole-life cover for legacy planning and wealth transfer. 

Under Wealth Plus, the insurer pays the sum assured if the life assured dies and funds future premiums, allowing the policy to continue until maturity, subject to the terms and conditions. 

Investment Options and Charges 

The plan offers investment options linked to global equities, precious metals such as gold and silver, and debt funds. As with other ULIPs, the value of the investment depends on the performance of the selected funds and can rise or fall with market movements.  

Returns are not guaranteed unless a specific benefit is expressly guaranteed under the policy. The insurer has stated that the plan carries no allocation or administration charges. Loyalty Additions and Maturity Boosters are also available, depending on the selected variant.  

Other applicable charges and policy conditions will need to be considered when assessing the amount invested and the final proceeds. 

Currency and Investment Risks 

The policy is denominated in US dollars, which may be relevant for NRIs earning in that currency or planning overseas expenses. However, currency denomination does not guarantee higher returns.  

Fund performance and policy charges affect the investment value, while exchange-rate movements can change the amount received when proceeds are converted into Indian rupees. 

Policyholders will also need to review premium commitments, withdrawal and surrender conditions, and the duration of the policy before investing. 

Follows Another GIFT City Launch 

The launch follows Ageas Federal Life Insurance's introduction of its Aurum Advantage plan on October 8, 2026. That plan allows investments in US dollars, euros and British pounds, while Canara HSBC Life's Global Wealth Plan is limited to US dollar-denominated investments. 

The new plan adds another investment-linked insurance option through GIFT City, where financial products are offered to eligible domestic and overseas customers. 

Read More: SEBI Panel Proposes Revised Closing Auction Timings, Retains VWAP-Based Settlement! 

Conclusion  

The Global Wealth Plan combines life insurance cover with market-linked investments in international funds. Its three variants offer different features, including premium funding benefits and whole-life cover. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.