Mumbai: ING Life Insurance has launched traditional insurance plans called ING ACE Pension and ING ACE Life.
The pension plan is designed to build retirement income from the accumulated sum. The life plan provides risk cover for death and regular saving with guaranteed additions. Both the plans offer assured bonuses.
SNAPSHOT:
ING ACE Pension: The pension plan offers guaranteed additions of 8.75 per cent on the vesting sum assured which would be compounded every year for the entire term policy of 10 years. The entry age for the plan is 35 to 60 years. Another attractive feature of the plan is that the policyholders have to pay premium for only the first three years of the policy term. On maturity, policyholders would receive guaranteed vesting benefit which puts them in a confident position to plan based on the exact value of returns on their investment. Policyholders can also encash their policy in case of emergencies but only after paying premium for at least two years.
ING ACE Life: The life plan comes with a premium payment period of three years. The guaranteed addition of bonus varies according to the size of the premium. The guaranteed bonus additions would be at the rate of 7 per cent for annual premium of Rs 24,000 and 7.75 per cent for annual premium in excess of Rs 24,000.