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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 Flexi Life Plus
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Plan Nature
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ULIP
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Plan Category
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Investment Plan
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UIN No.
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114L042V01
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About Plan
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ING Flexi Life Plus is a unit linked insurance policy giving the dual benefit of insurance coverage & investment opportunity. It is a comprehensive plan that provides flexibility in premium contributions through payment modes with the option to increase or decrease regular premiums and provides Enhanced Accidental Protection Benefit. At the end of the term; the amount accumulated in your fund will be given as maturity benefit, while withdrawal facilities during the term will help you to meet financial contingencies.
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Minimum Entry Age
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0 Yrs lbd (for entry ages below 12 Yrs,risk cover commences from age 5 or 2 Yrs from policy commencement date,whichever is later)
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Maximum Entry Age
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60 Yrs
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Minimum Maturity Age
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18Yrs
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Maximum Maturity Age
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70Yrs
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Miniumu Sum Assured
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6.25times the annualized first policy year regular premium.
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Maximum Sum Assured
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25 times of annualized first policy year regular premium subject to underwriting conditions.
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Minimum Policy Term
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10/20 years
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Minimum Top up premium
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Rs.2,000
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Benefits
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| Particulars | Description |
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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 following benefits will be paid out:- In case of natural death: Sum Assured + Fund Value- In case of death due to accident: Sum Assured + Fund Value + Enhanced Accidental Protection Benefit (EAPBenefit)**(EAP Benefit is subject a maximum of Rs. 20 lakhs per life under all policies issued by the Company covering the lifeof the life assured taken together).
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Partial Withdrawal Benefit
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To meet financial emergencies, you have the access to your policy fund through Partial withdrawal facility subject tofollowing conditions:- No partial withdrawals allowed until the life assured completes 18 years.- Allowed after completion of 3 policy years subject to a minimum balance of 1.5 times of the first policy yearannualized regular premium after withdrawal.- One partial withdrawal per policy year will be allowed subject to a fee of 1% of the amount that is withdrawn,subject to a minimum of Rs.100.- Policyholder will be allowed to make any partial withdrawals from the top-up contributions only after 3 yearsfrom the date of payment of the respective installment of the top-up contribution.
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Surrender Benefit
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The importance of availability of cash in some emergencies can't be denied, therefore, we provide you with a choiceof surrendering the policy. You can avail this facility after payment of one full year's premiums; however the surrendervalue payment can be made only after completion of 3 full policy years. The surrender value payable will be the fundvalue less applicable surrender charges.
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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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This plan provides you the flexibility to alter your premium amount from 2nd year onwards. You can either increase or decrease premium amount subject to a minimum of 75% of first policy year annualized regular premium and a maximum of 125% of the first policy year annualized regular premium on an annualized basis. This flexibility in premium payment is available throughout the term. Also, at any point of time if you choose to invest more than the regular premium amount, you can do so by way of additional premium top-ups.
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Every day as you step out of your home you are exposed to a host of uncertain events such as accidents that may lead to unfortunate event of death, with your family left behind to face the financial difficulties. This policy gives you an Enhanced Accidental Protection Benefit wherein, an additional amount equivalent to Sum Assured, subject to a maximum of Rs. 20 lakhs per life under all the policies issued by the Company covering the life of the life assured taken together, is payable due to death resulting out of an accident, thereby giving you an additional protection cover that will help your family to continue with their current lifestyle even in your absence.
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This feature provides you the convenience of continuing your life insurance cover (Risk Cover and Enhanced AccidentalProtection Benefit Cover) in case you opt not to pay premiums any time after payment of at least five policy yearsregular premiums required to keep the policy in force. This option should be exercised in writing atleast three monthsbefore the end of policy revival date and is subject to underwriting. You can still avail partial withdrawals, switchesand surrenders. On exercising this option, the mortality charges, Enhanced Accidental Protection Benefit Charges,Fund Management Charges and Administration Charges shall be recovered from the fund value. If the fund value at any time falls to 1.5 times of first year annualized premium, the balance of the fund value less surrender penalty, subject to a minimum of first policy year annualised regular premium is paid and the policy foreclosed. Once the covercontinuation option is exercised no premiums can be paid into the policy.
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Balanced Fund
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Debt Fund
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Growth Fund
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Secure Fund
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Particulars
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Range
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Balanced Fund
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Equity
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20% - 40%
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Debt
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60% - 80%
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Debt Fund
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Debt instruments
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0% - 100%
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Growth Fund
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Equity
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40% - 60%
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Debt
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40% - 60%
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Secure Fund
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Equity
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10% - 20%
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Debt
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80% - 90%
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Balanced Fund
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17-May-13
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21.4062
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Debt Fund
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17-May-13
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19.4406
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Growth Fund
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17-May-13
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23.3891
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Secure Fund
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17-May-13
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20.5284
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Balanced Fund
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Debt Fund
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Growth Fund
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Secure Fund
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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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