ING LIFE PLUS:
DEAR FRIENDS,
IT GIVES ME IMMENSE PLEASURE TO INTRODUCE YOU MOST SUCCESFUL POLICY OF ING VYSYA (COMBINATION OF PURE INSURANCE AND ULIP ). NO HIDDEN FACTORS, ALL THE TRUTH IN FRONT OF YOU.
Age
ü Min Age at entry : 10 lbd (for age 10 and 11 the risk will commence 2 years later)
ü Maximum Age at entry : 45 lbd
ü Maximum Maturity Age : 65 lbd
ü Non Medical Plan from Age 10 to 45 years
ü Customize the policy as per the customer age
Premium Paying Term
ü 10 Years
ü 15 Years
ü 20 Years
Premium Payment Term = Policy Term
Sum Assured
ü 10 year term: 5 times annual premium
ü 15 year term: 7.5 times annual premium
ü 20 year term: 10 times annual premium
ü E.g. If annual premium is Rs. 20,000/- and term is 20 years then the sum assured is 2,00,000 (i.e. 20,000 x 10 = 2,00,000)
Enhanced Protection Cover
The risk cover increases automatically by a simple rate of 5% of the sum assured every policy anniversary provided premiums are paid up to date.
E.g. If premium is Rs.50,000/- p.a. for a 20 year term, then normal sum assured = 50,000 x 10 = 5,00,000
Enhanced Protection cover = 5% increase over 5,00,000 every year i.e. 25,000 p.a.
Therefore, in 20 years this will reach to 4,75,000
So total risk by end of term = 5,00,000 + 4,75,000 = 9,75,000
ü The 5% automatic increase in life cover makes up for inflation
ü Incase the Fund Value depletes e.g. a customer making a partial withdrawal, the Enhanced Protection Cover will provide enhanced protection incase of death.
ü The increase in life cover is without any further medicals during the entire policy term as long as premiums are paid regularly.
Premium
ü Minimum Premium
Annual Mode :10,000
Half Yearly Mode : 5,000
Quarterly Mode : 2,500
Monthly Mode : 833
ü Maximum Premium
Annual Mode :50,000
Half Yearly Mode :25,000
Quarterly Mode :12,500
Monthly Mode : 4,166
(Minimum premium to be collected upfront Rs 2,500/- monthly option available only with ECS,CC or standing instructions)
ü Enables the customer to pay as per his Convenience
ü Allows entry into the market at different points enabling a SIP mode of investment
Choice of 5 funds
ü Debt Fund - 100% in debt instruments
ü Secure Fund- Up to Min of 10% & to a max of 20% in equity
ü Balanced Fund- Up Min of 20% & to a max of 40% in equity
ü Growth Fund- Up to Min of 40% & to a max of 60% in equity
ü Equity Fund- Up to Min of 90% & to a max of 100% in equity
Maturity Benefit
ü On completion of chosen policy term the balance available in the policy holder fund value is paid
Settlement Options
ü Entire maturity benefit can be received in one lump sum OR
ü 3 annual installments OR
ü 5 annual installments
The settlement option should be exercised 3 months prior to maturity date.
ü The flexibility to settle maturity proceeds in 1 , 3 or 5 years enables the customer plan receipt of maturity proceeds based on his needs
ü It also gives scope to utilize or avoid market volatility based on the market performance at that point in time
Partial Withdrawals
ü On completion of 5 Policy Years partial withdrawals can be made
ü One partial withdrawal per policy year is allowed, restricted to 25% of the Fund Value.
ü Minimum balance in policy holder fund value after any withdrawal should be equal to one and half years annual premium
ü Un utilized partial withdrawal cannot be carried over in the next year.
ü No partial withdrawals are allowed while the life assured is a minor
ü Partial withdrawals are subject to charge of 1% of the amount withdrawn and minimum amount is Rs. 100/-
Surrender Benefit
ü Any time after the completion of the third Policy anniversary
ü If at least one full years premium is paid
ü Amount payable on surrender shall be the Fund Value less the applicable surrender charges. (Fund Value – Surrender Charge)
Death Benefit
ü On death before the policy maturity date, the (Sum Assured plus Enhanced Protection Cover) prevailing at that time OR the Fund Value, which ever is higher, will be payable
ü Partial withdrawals if any made during the preceding 24 months are deducted from the Sum Assured while calculating death benefit
ü If age at entry is less than 12, risk will commence at the end of 2 years from the date of commencement of the policy.
ü Lien Clause: If age at entry is 12 and above, in case of death within 6 months from the policy commencement date, only the Fund Value is payable.
Fund Management Charges
| Fund | % per annum |
| Debt Fund | 0.75% |
| Secure Fund | 1.00% |
| Balanced Fund | 1.25% |
| Growth Fund | 1.25% |
| Equity Fund | 1.50% |
FOR MORE CLARIFICATION, FEEL FREE TO CONTACT ME ON MY CELL NO. 9811511501.
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