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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 Future Perfect
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Plan Nature
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ULIP
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Plan Category
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Retirement
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UIN No.
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114L019V02
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About Plan
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The ING Life New Future Perfect is a highly flexible unit linked insurance plan with systematic withdrawals offers you a perfect retirement option. It not only provides you with flexibility in terms of premium amounts and frequency, but also offers you an investment opportunity thatÆs just perfect for your long-term financial future and provides you maximum benefit.
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Minimum Entry Age
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8 YEARS(RISK COVERAGE WILL COMMENCE FROM 2 YEARS)
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Maximum Entry Age
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55 YEARS
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Minimum Policy Term
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5YEARS
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Maximum Policy Term
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25 YEARS
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NA
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80 Yrs
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Benefits
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| Particulars | Description |
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Maturity Benefits
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The Policy matures after your attaing the age of 80 years. You will receive the Fund Value on the Policy Maturity Date.
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Death Benefits
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On death before the Policy Maturity Date, the Sum Assured prevailing at that time or the Fund Value, Whichever is higher, will be payable. However, in-case of death before age 12, the balance amount available in your Fund Value would be oayable as Death Benefit.For the purpose of determining the amount payable as Death Benefit, the Sum Assured will be reduced by the Partial Withdrawal Benefits availed by the Policyholder from the Fund Value build up on Regular Premium, during the twenty four months immediately preceding the date of death of the Life Assured. The Sum Assured will also be reduced by the Sustematic Withdrawal Benefits paid.
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Switch Benefit
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You have the flexibility to review the performance of your Unit Linked Funds periodically and Swithc Investments from one Unit Linked Fund to another. Two switches per Policy year are offered free of Switching Charges.
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Partial Withdrawal Benefit
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The Plan offers you the adiional flexibility of opting for a Partial Withdrawal two times between the 4th Policy year and the due date of the first Systematic Withdrawal Benefit. You can make Partial Withdrawal provided the Fund Value after such withdrawal is equal to at least One and Half Years Regular Premiums.
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Surrender Benefit
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You can Surrender your policy any time after the third Policy year. You will receive the Fund Value less the applicable surrender Charges.
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Tax Benefits
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| Section | Description |
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SEC 80 CCC
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Section 80 CCC allows to individual, tax deduction for amount paid during the financial year out of income chareable to tax, towards specified pension plan. Maximum deduction allowed is Rs. 100,000.
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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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Accident Death Disablity & Dismemberment Benefit [114C002V01]
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Accident Death Benefit [114C003V01]
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New Future Perfect Plan is an individual Unit-linked Plan which does not participate in the profits of the Company.The Premiums less Allocation Charges are credited to the Fund Value and are used to purchase Units in one or more Unit Linked Funds offered by the Company, based on the choice made by the Policyholder.The Fund Value is represented by the number of Units multiplied by the respective Unit Price of the Units held from time to time under all the Unit Linked Funds under the Policy.
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Death Benefit shall be the higher of Sum Assured or Fund Value.
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On survival of the Life Assured on the Policy Anniversary following the attainment of age 60, he/she will be paid Systematic Withdrawal Benefit of an amount equivalent to 5% of the Fund Value, on such Policy Anniversary. On survival of the Life Assured on every subsequent Policy Anniversary thereafter, he/she will be paid an additional half percent of Systematic Withdrawal Benefit until maturity of the Policy. All the Systematic Withdrawal Benefits paid shall be deducted from the Sum Assured. On the date of payment of the Systematic Withdrawal Benefit, if the Fund Value minus the Systematic Withdrawal Benefit payable is less than one full year's Premium, then the Policy shall terminate and the Company shall pay the Fund Value to the Policyholder.
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The Policy matures on survival of the Life Assured on the Policy Anniversary immediately after his/her 80th birthday. The Maturity Benefit is equal to the Fund Value.
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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 lower rate is 6% p.a. These rates have been used to demonstrate the growth in the value of Units under this Plan.
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At any time after the Third Policy Anniversary, the Policyholder can opt to surrender the Policy. The amount payable on surrender shall be the Fund Value less the applicable Surrender Charges.
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The Policyholder can opt to partially withdraw from his/her Policy after the 3rd Policy Anniversary but before the first Systematic Withdrawal Benefit falling due.The Policyholder can avail of this Partial Withdrawal option not more than two times within the above prescribed period provided that the Fund Value after such withdrawal is equal to at least one and half years Regular Premiums.
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Balanced Fund
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Debt Fund
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Equity 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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Equity Fund
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Equity
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90% - 100%
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Debt
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0% - 10%
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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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Equity Fund
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17-May-13
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17.6635
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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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Equity 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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