ING Life India, in its 10th year of operations, today launched two new customer-centric Unit Linked Insurance Products, which meets the investment and protection needs of customer. The new ULIPs, ING Uttam Jeevan and its single premium variant, ING Uttam Jeevan SP come with a host of customer benefits, helping them to fulfill their need for investment and protection. The newly launched products meet the new IRDA guidelines.
Speaking at the launch, Mr. Rahul Agarwal, Chief Distribution Officer said, ‘I am delighted to announce the new ULIPs, Uttam Jeevan and Uttam Jeevan SP. Both these products have been designed keeping in mind our customers need for investment and protection. These are simple products, which will appeal to our customers across categories, especially for those who are new to the world of ULIP. They are easy to understand and buy.’
Uttam Jeevan and Uttam Jeevan SP-the single premium variant, are both extremely easy to understand products that are targeted at all categories of customers, including those who are looking at ULIPs for the first time. The minimum annual premium for Uttam Jeevan is at an affordable level of ' 24000/-, while that of Uttam Jeevan SP is at ' 48000/-, making them very appealing. Being non-medical insurance products, they are hassle free and easy to buy. They provide long term investment solutions, with a comprehensive life cover to secure financial protection for customers.
The 2 new ULIPs offer a number of attractive customer benefits. With the new ULIP guideline, 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 plus 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.
Some of the product features for Uttam Jeevan include:
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Some of the product features for Uttam Jeevan SP include:
ING Uttam Jeevan and ING Uttam Jeevan SP are the first set of products from ING Life under the new IRDA guidelines for ULIPs. The company offers a comprehensive range of products that helps customer manage their financial future. ING Life entered the private life insurance industry in India in September 2001. Having established itself as a strong private life insurance player in India and in its tenth year of business operations, ING Life today has a pan India presence.
