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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 One Life Plus
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Plan Nature
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ULIP
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Plan Category
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Protection Plan
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UIN No.
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114L039V01
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About Plan
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ING One Life Plus is a unit linked insurance plan giving dual benefit of insurance coverage & investment opportunity to invest in funds of your choice. It is a comprehensive plan with flexibility in premium contributions, where in you have the option to decrease your regular premium or increase your premiums by way of additional top ups. 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 face financial contingencies.
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Minimum Entry Age
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12Years
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Maximum Entry Age
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65Years
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Minimum Maturity Age
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18Years
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Maximum Maturity Age
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75Years
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Minimum Policy Term
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10Years
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Maximum Policy Term
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20Years
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Benefits
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| Particulars | Description |
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Death Benefits
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Incase of death of life assured before the vesting date, the benefit amount in the IPA (Individual Pension Account) in lump sum is payable to the nominee. If Spose is the nominee and age at least 55 years then, option to receive a lump sum of up to one-third of the benefit amount and apply the balance for purchase of annuity or to apply the entire benefit amount for purchase of annuity. If the age of the spouse is less than 55, then the remaining amount can be allowed to continue in the fund till the spouse attains age 55. In case there is no spouse, Benefit amount will be paid in lump sum to the nominee/legal heir.
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Vesting Benefit
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On vesting date or on earlier death of policyholder the benefit amount payable is the balance amount in the Individual Pension Account(IPA). Up to one-third can be taken as commuted value and it will be tax free.If the age at vesting is at least 55, the remaining amont can be used to purchase an annuity, either from the company or from the open market option.If the age at vesting is less than 55, then the remaining amount can be allowed to continue in the fund till the policyholder attains age 55 or can purchase an annuity from the open market option.
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Surrender Benefit
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You can surrender your policy after completion of first 3 policy years. The surrender value will be the accumulated balance in the IPA(Individual Pension Account) at the time of surrender less a surrender charges if any. The guaranteed surrender value is 30% of the accumulated balance in the IPA at the time of surrender.
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Surrender Benefit
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You can surrender your policy after completion of first 3 policy years. The surrender value will be the accumulated balance in the IPA(Individual Pension Account) at the time of surrender less a surrender charges if any. The guaranteed 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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This ING One Life Plus is an individual unit-linked insurance plan that does not participate in the profits of the Company. The premiums less charges are credited to the Fund Value (ôFVö) 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 FV 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 held under the Policy.
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In the unfortunate event of death of the life assured during the policy term, higher of Sum Assured or the Fund Value will be payable.
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The Policy matures on survival of the Life Assured on the policy maturity date. The Maturity Benefit is equal to balance in the Fund Value on the date of maturity.
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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 point of time after payment of one full year's premiums the Policyholder can opt to surrender the Policy; however the surrender value payment will be made only after completion of three full policy years. The surrender value payable is the Fund Value less the applicable surrender charges.
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The Policyholder can opt for Partial Withdrawals after the third Policy anniversary subject to a Partial Withdrawal fee of 1% of the amount that is withdrawn. The fund value after such withdrawal cannot be less than Rs 25,000. Partial Withdrawals would not be allowed in case the Life Assured is a minor till the attainment of age of majority. These Partial Withdrawals are subject to applicable Partial Withdrawal charges.
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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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