ING Life Insurance launches Guaranteed Income Insurance Plan

India Infoline News Service | Mumbai |

This plan complies with the new product guidelines applicable from 1st October 2013

ING Life Insurance on Thursday launched ING Guaranteed Income Insurance Plan, a traditional life insurance product that offers guaranteed benefits to the customers.

This plan complies with the new product guidelines applicable from 1st October 2013.
According to the private insurer, ING Guaranteed Income Insurance Plan offers Guaranteed Tax-Free Regular Income from mid of policy term. The Guaranteed Income payout is at the rate of 11% to 13% per annum.

The income payout is calculated on the sum assured which is derived from the premium paid by the customer.

UcoVegter, Chief Financial Officer, ING Life Insurance said, “In this plan, the customer makes premium payments for 50% of the chosen policy term and enjoys guaranteed tax free regular income over the remaining policy term. At the end of the policy term, the customer gets a guaranteed tax free lump sum payout. Based on the premium paying ability, the customer can decide the income payout option he would like to benefit from.”

Headquartered in Bangalore, ING Vysya Life Insurance is 100% owned by Exide Industries.


 

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