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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 Reassuring Life Endowment Plan (Reversionary Bonus)
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Plan Nature
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TRADITIONAL
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Plan Category
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Saving
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UIN No.
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114N009V01
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About Plan
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The Reassuring Life Endowment Plan with reversionary bonus* is being a savings option, it also acts as a highly reliable safety net for your family in case something happens to you. The Reassuring Life Plan is ideal because it gives you the incredible
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Minimum Entry Age
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18 YEARS
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Maximum Entry Age
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60 YEARS
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Maximum Maturity Age
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70 YEARS
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Minimum Policy Term
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10YEARS
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Maximum Policy Term
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20 YEARS
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Minimum Premium
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RS 24000/-ANNUAL
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Benefits
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| Particulars | Description |
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Death Benefits
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You family would receive a large sum which would include the sum assured and the accumulated reversionary bonus and final additional bonus.
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Survival Benefit
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A life cover that enhances rapidly, annually, thanks to the reversonary bonus feature. This basically means the bonus is earned not just on the original sum assured but also on the previously accumulated bonus - an amount which goes on increasing every year. and a final additional bonus.
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Loan against policy
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After paying a premium for three years, you will be eligible for a loan.
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Surrender Benefit
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A sizeable financial asset for you and your family once the policy matures, so you can meet large expenses.A life cover that enhances rapidly, annually, with the reversionary bonus feature.A final additional bonus.
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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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Reassuring Life Endowment Plan with Reversionary Bonus participates in the profits of the Company. While the policy is in full force, the Sum Assured and bonuses declared, if any, are payable on death or maturity. In case of Surrender of the policy, after at least 3 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 Death or on Maturity. Bonus rates shown overleaf are not guaranteed. However, bonuses already declared while the policy was in full force are guaranteed, and are payable on Death or on Maturity. Bonuses are declared based on the performance of the Company. An additional terminal bonus may also be declared by the Company. The bonuses shown overleaf 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 yearsÆ premiums. The Guaranteed Surrender Value (GSV) is 30% of total premiums paid excluding the first years' premiums and all extra premiums. Special 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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