Canara HSBC Life launches Dollar-denominated ULIP for NRIs via GIFT City on Policybazaar

Sat Oct 17 2026

Canara HSBC Life Insurance on Friday launched the Global Wealth Plan, a USD-denominated unit-linked life insurance product available through GIFT City, distributed exclusively via Policybazaar. The plan targets non-resident Indians seeking combined insurance and global investment exposure in US dollars.

The product allows policyholders to invest across global equities, precious metals including gold and silver, and debt funds. It carries no allocation or administration charges, meaning a larger share of premiums remains invested.

The plan comes in three variants: Wealth, focused on long-term wealth creation; Wealth Plus, which includes a Premium Funding Benefit that continues future premium payments on behalf of the insurer if the policyholder dies before maturity; and Wealth Forever, a whole-life option designed for legacy planning. All three include life cover.

Additional features include Loyalty Additions and Maturity Boosters, which are designed to enhance overall fund value depending on the plan option chosen.

GIFT City’s status as an International Financial Services Centre enables NRIs to access internationally diversified investments within a regulated Indian framework while transacting in dollars — a structure seen as relevant for customers whose financial obligations span multiple geographies.

Canara HSBC Life Insurance is jointly promoted by Canara Bank, HSBC Insurance (Asia-Pacific) Holdings, and Punjab National Bank, and operates 107 branches across India as of September 2026.

Source: https://www.thehindubusinessline.com/