|
|
|
|
|
|
|
Insurance Company
|
ING Vysya Life Insurance Company Ltd
|
|
Plan Name
|
ING Group Insurance Solutions - Yearly Renewable Term Insurance
|
|
Plan Nature
|
TRADITIONAL
|
|
Plan Category
|
Term Plan
|
|
UIN No.
|
114N012V01
|
|
About Plan
|
ING Life's Group Term Life Insurance Plan is a special way to safeguard your employees' interests. It enables you to comprehensively safeguard your employees in case of the unfortunate death of an employee due to any reason, by providing timely and hassle free relief. It provides the essential life cover for all the members you wish to include in the group.
|
|
|
|
|
|
|
|
Minimum Entry Age
|
18 years
|
|
Maximum Entry Age
|
64 years
|
|
|
|
|
|
|
|
|
|
Benefits
|
|
|
| Particulars | Description |
|
Death Benefits
|
This acts as a lifeline for the family of an insured member in case something unfortunate were to happen to him. The beneficiaries will receive a fixed Sum Assured which will act as their financial protection in their time of need.
|
|
|
|
Tax Benefits
|
|
|
| Section | Description |
|
SEC 10 (10)D
|
Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
|
|
SEC 88
|
Premiums paid by the employee are elegible for tax deduction under section 88.
|
|
|
|
|
|
|
|
|
|
|
|
Accident Death Benefit [114C003V01]
|
|
|
|
|
|
|
|
|
|
ING Life's Group Term Life Insurance Plan is a special way to safeguard your employees' interests. It enables you to comprehensively safeguard your employees in case of the unfortunate death of an employee due to any reason, by providing timely and hassle free relief. It provides the essential life cover for all the members you wish to include in the group.
|
|
This acts as a lifeline for the family of an insured member in case something unfortunate were to happen to him. The beneficiaries will receive a fixed Sum Assured which will act as their financial protection in their time of need.
|
|
Leaving a job doesn't mean the end of being protected. This plan comes with a convenient continuation option.An employee can choose to maintain the cover after resignation or retirement. This is done by simply effecting an individual insurance policy, without further medical evidence. The facility can be availed by meeting certain basic conditions.
|
|
1) Critical Illness Rider2) Accidental Death Disability And Dismemberment Rider (ADDDR) - Group Disability Plus Rider
|
|
- It provides a comprehensive life insurance cover at a lower cost as compared to individual life insurance policies.- Just one master policy covers all employees.- It is easier to cover all your employees as there are minimal requirements for accepting cover.- It is a hassle-free way of securing life cover for all employees at one go.- It enables you to customise the amount of life cover based on requirements like graded cover or flat cover, or certain multiples of annual salary etc.- It offers the possibility of premium reduction over a period of time, with profit sharing and/or experience rating arrangement.- It is a yearly renewable scheme. No long-term commitment.- It offers you the flexibility to add new members or exclude existing members.- It has provision for Accidental death benefit at a very nominal extra cost.- It allows you to increase scope of benefit by adding optional additional benefits like Critical Illness and Accidental Death, Disability and Dismemberment benefits, at a marginal cost.- It is a tax efficient way of securing benefits to employees. Premiums paid by you are not treated as taxable perquisites, for your employee. And for you it is a deductible business expense.- It reduces administrative work, as it is backed by an efficient administrative process. Premiums can be paid monthly, quarterly, half-yearly or yearly, based on requirements.- Helps employee retention.- Allows employees to contribute part of the premium.
|
|
- They get a comprehensive life insurance coverage. It provides for payment of the Sum Assured to an employees' beneficiaries in the event of an unfortunate death.- They get insurance cover with minimal or no medical examinations.- A hassle-free process of keeping life cover in-force.- In case an employee leaves, he can still choose to continue the life cover by converting it into a regular individual policy (subject to certain conditions).- In case employees are paying premiums, they are eligible for tax exemption under Section 88 of Income Tax Act.- There is no limit on travel or residence.
|
|
|
|
|
|
|
|
06-Aug-09
09:45
|
Frank Koster as CEO for Asia/Pacific Insurance business : ING
|
|
27-May-09
10:42
|
Hiring of 3,000 advisers a month : ING Life
|
|
20-May-09
14:15
|
ING Life Insurance has tied up with Suvidhaa Infoserve
|
|
13-May-09
12:46
|
Premium income growth of 24 in last FY : ING Vysya Life
|
|
26-Feb-09
12:28
|
ING Life tied up with South Indian Bank
|
|
12-Feb-09
18:36
|
ING Life launches ULIP 'ING Prime Life'
|
|
11-Feb-09
10:40
|
Pension Plans Contribute
|
|
10-Feb-09
13:52
|
ING group to infuse more capital into joint venture
|
|
13-Jan-09
13:50
|
ING bets on TV ad to improve connect
|
|
02-Oct-08
09:51
|
ING Vysya ties-up with eSeva in Hyderabad
|
|
|
|
|
View another Plan
|
|
|
|
|
Insurance Company
|
|
|
|
|
Solution for
|
|
|
|
|
Type
|
|
|
|
|
Category
|
|
|
|
|
Plan
|
|
|
|
|
|
|