Thursday, 28 October 2010

ING Prospering Life, New ULIP From ING Life Insurance

ING Life Insurance Launched a New ULIP (Unit Linked Insurance Product) on 27th October, 2010 named ING Prospering Life, which provides it customers the wealth accumulation and life cover. The customers can maximize their returns and can get enough protection.

At the time of Launching, the Chief Distribution Officer, ING Life Insurance, said that he is very much glad to announce this ULIP and this unique product gives their customers a complete control over their investment for wealth accumulation, and is priced very competitively. There are five different fund options and one can switch over to any option free of charge.

Minimum and Maximum Annual Premium

The annual premium ranging from 48,000 to 96,000 and the customers can choose to pay on an Annual, Half-yearly, Quarterly or Monthly mode.

Sum Assured

The Plan offers a sum assured of 10 times of the annual premium at the inception for the customers those who are not completed the age of 45 years and 7 time of the annual premium for the customers those who are above 45 years.

The five fund options offered by the scheme are ING Prime Equity, Growth Fund, Balanced Fund, Secure Fund and ING Preserver.

Through Automatic Asset Allocation strategy the customer can allocate the asset between debt and equity and can avoid the daily monitoring of funds.

Free partial withdrawals up to 25% of the fund after completing 5 years are allowed and free unlimited switchover between fund options.

The premium paying term can be opted to the entire policy term or half of the policy term.

For those who are interested to invest in financial market and at the same time wish to get a life coverage this may be a good option. The recent guidelines of IRDA makes ULIP more attractive to investors. But when you invest in any financial instruments or with any financial institution study and analyze the performance and also remember that the past performance may not be reflected in future.

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