Description : At every stage of life, different needs come along, among which most of the needs require substantial financial planning. Meeting all these needs can be easier with ING Prime Life Plan.
ING Prime Life is a unique plan which comes with an option of systematic withdrawal feature. It allows you to withdraw money when you require it the most. This basically means, when you need to make an investment, you will never need to take a loan or borrow or worry about any money matters.
It is a unit linked insurance plan (ULIP) that gives you the unique advantage of saving as well as reaping returns on investment, where more than 100% of the initial (first year) allocation charges are returned. Moreover, with it the sum assured increases by 5% every year. The plan comes with an in-built accidental protection feature, insuring you against death or disability. With ING Prime Life, you also have an option to extend the term to make most of your investments.

Benefits:
1) Initial Allocation Benefit: This is the proportion of First Year Allocation Charges that is payable to the insured on Death or on Maturity, provided all due premiums are paid at the time of maturity.
2) Enhanced Protection Benefit: This is an additional cover of 5% of Initial sum assured per year for each of premium paid.
3) Enhanced Accidental Protection Benefit: This provides an additional set of benefits on the death, disability or dismemberment of the life assured due to accident to the extent of Initial Sum Assured.
4) Death Benefit: In the unfortunate event of death of the Life Assured during the policy term, higher of Sum Assured or the Fund Value, and the Initial Allocation Benefit will be payable.
5) Maturity Benefit: The Policy matures on the survival of the life assured on the policy maturity date. The maturity benefit is equal to balance in the Fund Value and the Initial Allocation Benefit.
6) Expected Interest Rates: 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 lower rate is 6% p.a.
7) Surrender Benefit: At any point of time after payment of one full year’s premiums the Policyholder can opt to surrender the Policy however, the surrender value payment will be made only after completion of 3 full policy years. The surrender value payable is the Fund Value less the applicable surrender charges.
8) Partial Withdrawal Benefit: The Policyholder can opt for partial withdrawals from the Policy after the 5th Policy Anniversary. Five partial withdrawals are allowed during the Policy Term.

Product Features:
Eligibility
. Minimum entry age : 10 years.
. Maximum entry age : 45 years.
. Minimum maturity age : 25 years.
. Maximum maturity age : 65 years.
Minimum Yearly Premium
. Rs.12,000 p.a.
Maximum Yearly Premium
. Rs.60,000 p.a.
Minimum Top-up Premium
. Rs.2,000
Initial Sum Assured
. A fixed sum assured of 5 times the annualized premium.
Policy Term
. Fixed for 15 years/20 years.
Premium Paying Term
. Same as Policy Term
Premium Payment Modes
. Annual, Half-yearly, Quarterly, Monthly.