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Insurance Company
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ING Vysya Life Insurance Company Ltd
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Plan Name
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ING Ace Life Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Guaranteed Plan
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UIN No.
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114N058V01
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About Plan
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One can neither afford to take chances with stock markets nor compromise on returns while planning for future. Guaranteed returns go a long way in ensuring that your future turns out exectly the way you want it to be. ING Ace Life is a special plan that offers Guaranteed Additions of 7% or 7.75% with a convenient 3year premium commitment. This simple plan comes with attractive tax benefits and is available only till 31st March,2011.
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Minimum Entry Age
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8years
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Maximum Entry Age
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50years
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Minimum Maturity Age
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18years
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Maximum Maturity Age
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60years
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Maximum Policy Term
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10years only
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Premium Paying Term
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3years only
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Maximum Premium
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Rs.104274
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Benefits
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| Particulars | Description |
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Maturity Benefits
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Every investment is made with an end objective in mind. If you know the exeact value your investments will earn, you would be in a confident position to plan. ING Ace Life provides a Guaranted Maturity Benefit at the end of policy term which equals Maturity Sum Assured Plus Guaranteed Additions.
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Death Benefits
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In the unfortunate event of death of the Life Assured during the policy term, the GDB shall be payable to the eligible person.
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Loan against policy
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After payment of 2 years' premium, you can avail a loan, Assignment will be allowed as per Sec38 of Insurance Act 1938.
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Surrender Benefit
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The importance of availability of cash in emergencies cannot be denied, therefore, we provide you with the facility to surrender the policy after premiums have been paid for at least 2 full years. On surrender, the policy will be eligible for a Special Surrender Value (SSV) which shall be determined by the company from time to time and will at no point of time be lesser than 30% of annual premiums paid excluding the premium paid in the first year.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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It is always more satisfying to know how much your money will earn. With ING Ace life, you will earn Guaranteed Additions on the Maturity Sum Assured which will be compounded every year. The rate of Guaranteed Additions depends on the annual premium you choose. For premiums less than Rs.24000 the Guaranteed Addition rate is 7% p.a. and for more than or equal to Rs.24000 the rate is 7.75% p.a. The rates of Guaranteed Additions are fixed for the entire investment term of 10years.
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You can claim all premiums paid as a deduction from your income to save tax and all payments received from this investment will be completely tax-free under section 10(10D) respectively of the Income Tax Act, 1961. These tax benefits are subject to change in tax laws.
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At times paying premiums for a long duration might be too demanding on your wallet. With ING Ace Life, you will feel comfortable paying premium for only first 3years of the policy term, while enjoying the full benefits for the entire policy term.
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We understand that you will be taking time out of your busy schedule to plan your tax savings. This is why ING Ace Life comes with a simplified non-medical subscription process.
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06-Aug-09
09:45
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Frank Koster as CEO for Asia/Pacific Insurance business : ING
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27-May-09
10:42
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Hiring of 3,000 advisers a month : ING Life
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20-May-09
14:15
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ING Life Insurance has tied up with Suvidhaa Infoserve
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13-May-09
12:46
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Premium income growth of 24 in last FY : ING Vysya Life
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26-Feb-09
12:28
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ING Life tied up with South Indian Bank
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12-Feb-09
18:36
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ING Life launches ULIP 'ING Prime Life'
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11-Feb-09
10:40
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Pension Plans Contribute
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10-Feb-09
13:52
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ING group to infuse more capital into joint venture
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13-Jan-09
13:50
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ING bets on TV ad to improve connect
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02-Oct-08
09:51
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ING Vysya ties-up with eSeva in Hyderabad
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