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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 New Fulfilling Life Plan Anticipated Whole Life Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Investment
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UIN No.
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114N024V01
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About Plan
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The New Fulfilling Life Plan is a unique plan that fulfills your need for protection, saving and investment. It gives a double benefit of a whole life cover along with regular cash returns in your lifetime. The Fulfilling Life Plan provides your family security even after your death, apart from giving you regular cash returns during your life. The special feature of this plan is you may receive double the Sum Assured. The first 100% as money back spread over the premium payment term and the remaining 100% on death or maturity. You can also choose from a range of limited premium payment terms.
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Minimum Entry Age
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14 YEARS
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Maximum Entry Age
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54 YEARS
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Minimum Policy Term
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16 YEARS
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Maximum Policy Term
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24 YEARS
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Maximum Maturity Age
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85 YEARS
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Minimum Premium
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RS 8000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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after attaining 85 years of age, you will receive 100% of the Sum Assured plus bonus.
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Death Benefits
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In the event of your unfortunate death, your family would receive 100% of the Sum Assured, over and above the Survival Benefits you would have received till then, plus Bonus.
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Survival Benefit
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A certain percentage of money is paid back on survival every quarter of the Premium Paying Term. The money can be reinvested elsewhere or used to meet large expenses during one's lifetime.
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Loan against policy
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Under this Plan, you can also avail a loan under the Policy if you have an urgent need for cash. The loan will be available after the completion of your Premium Paying Term.
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Surrender Benefit
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In case you wish to surrender your Policy and have paid Premium for at least 3 full years, you will receive a Cash Surrender Value.
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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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Term Benefit [114B001V01]
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Accident Death Disablity & Dismemberment Benefit [114C002V01]
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Accident Death Benefit [114C003V01]
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Waiver of Premium Benefit [114B004V01]
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New Fulfilling Life Anticipated Whole of Life Plan participates in the surplus of the fund to which it belongs. While the policy is in full force, the Sum Assured and Bonuses already declared, if any, are payable in case of maturity at age 85 or on earlier death. Subject to the Policy being in full force, 20% of the Sum Assured is payable on survival to the Policy anniversaries as shown in the table and 40% of the Sum Assured is payable on survival at the end of the Premium Paying term. In case of Surrender of the Policy, after at least three full years' Premiums have been paid, a Cash Surrender Value is payable.
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For the purpose of projecting benefits under this Policy, the Life Insurance Council has prescribed two Rates of Returns. Currently the prescribed higher rate is 10% p.a. and the lower rate is 6% p.a.
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The Bonus Rates are illustrated assuming that the Rate of Return on the Company's investment remains the same throughout the Policy Term.
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Provided the Policy is in full force, the Sum Assured is guaranteed and is payable on maturity at age 85 or on earlier death. Also, provided the Policy is in full force, 20% of the Sum Assured is guaranteed on Survival on the Policy Anniversaries as shown in the table and 40% of the Sum Assured is guaranteed on Survival at the end of the Premium paying term. The Bonus Rates shown above/overleaf are not guaranteed. However, Bonuses already declared while the policy had been in full force are guaranteed and are payable on maturity at age 85 or earlier on death. Bonuses are declared based on the performance of the Company. An additional Terminal Bonus may also be declared by the Company. The Bonuses shown above include both Annual and Terminal Bonuses, if any.
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This Policy may be Surrendered for cash at any time after payment of at least, three full years' Premiums. During the Premium paying term of the Policy, the Guaranteed Surrender Value (GSV) will be 20% of total of the full years premiums paid, excluding all extra Premiums less 20% of all Survival Benefits paid. Cash Surrender Value if higher than GSV may be paid by the Company at rates as may be determined from time to time
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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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