ING Life India has launched two new customer-centric unit linked insurance products - ING Uttam Jeevan and its single premium variant, ING Uttam Jeevan SP, are in accordance with the new IRDA guidelines.
Both the products have been designed to fulfill customers need for investment and protection. These are simple products, which will appeal to all customers, especially those who are new to ULIP. They are easy to understand and buy.
Features:
• The minimum annual premium for Uttam Jeevan is Rs 24,000, while that of Uttam Jeevan SP is Rs 48,000.
• As they are non-medical insurance products, they are hassle free and easy to buy.
• The products enable a higher allocation of premium for investments, thus getting better returns.
• The product offers customers an automatic increase of 5 % in the base sum assured year-on-year, thus keeping up with the increased financial responsibility with age of the customer. It also has in-built accidental death benefit. The death benefit is Sum Assured + Fund Value.
• The products offer flexibility to customers with charge free withdrawals as well as top ups.
• In case the policy lapses, customers can reinstate the policy within 45 days from the date of lapse free of charge.
• Customers also have the benefit of increasing their contribution by way of Top-Up, with a minimum top-up premium of Rs. 2,000.
• Four free switches are allowed every policy year, helping customer to manage their investments well.
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