ING My Term Insurance Plan


A pure term insurance plan allows you to build strong family foundation at a nominal price.


A pure term insurance plan with multiple flexibilities that allows you to build strong family foundation at a nominal price.

5 Reasons to buy:

  • Substantial life cover for family
  • Option for Family Income Benefit
  • Terminal Illness Benefit
  • Option of limited pay and regular pay
  • Comprehensive protection with optional riders










Disclaimer:

ING Vysya Bank is a registered Corporate Agent of ING Vysya Life Insurance Company Limited.

Insurance is the subject matter of the solicitation. ING My Term Insurance Plan UIN: 114N063V01. Tax benefits are subject to change in tax laws from time to time. For more details on risk factors, terms and conditions, please read the sales brochure of the mentioned products carefully before concluding the sale. ING Vysya Life Insurance is 100% owned by Exide Industries. The word ING and the device are trademarks of ING Group N.V. and are used under license. ING Vysya Life Insurance Company Limited. IRDA Registration number: 114, Registered and Corporate Office: ING Vysya House, 5th Floor, #22, MG Road, Bangalore – 560001, India. Toll Free: 1800-419-8228; Phone: 080 – 25328000; Visit inglife.co.in

Disclaimer

The website contains all the requisite information in respect of insurance products of ING Life Insurance distributed by IVB. IVB acts solely as a corporate insurance agent of ING Life Insurance and does not underwrite the risk or act as an insurer.

Our Corporate Agent License Number is IVL 1624535.

What is ING My Term Insurance Plan?

A pure term insurance plan with multiple flexibilities that allows you to build strong family foundation at a nominal price.

Who should buy ING My Term Insurance Plan?

Anyone who wishes to ensure their families financially goals are well protected and fulfilled.

What are the key benefits of ING My Term Insurance Plan?

  • Substantial life cover at nominal premium: In case of an unfortunate event, family gets lump sum amount which helps them to fulfill their financial goals.
  • Family income benefit: Allows you to ensure part of lump sum life cover as monthly payout over 60 months. Also, 10% is paid extra in the monthly payouts. You can choose from following options:
Payout options under Family Income Benefit
% of Life Cover in Lump sum 80% 50% 40% 30%
% of Life cover as monthly income 20% 50% 60% 70%
Additional Payout as monthly income (% of life cover) 2% 5% 6% 7%
  • Terminal Illness Benefit: In case of a terminal illness being diagnosed, you will receive 25% of the lump sum life cover immediately, to help you meet immediate medical expenses. At this point, all the future premiums are waived off #, but the policy continues to be in force.
    #: If the illness does not prove to be terminal for life assured within the period as specified in terms and conditions, the company reserves the right to resume future premiums.
  • Flexibility to pay your premium: Option to choose Regular Pay and Limited Pay term options.
  • Enhanced protection: Add Critical Illness, Accident Death Benefit and Accident Death Disability and Dismemberment Rider to complete your protection.
  • Tax: All the premiums paid and the life cover amount received are exempt from income tax u/s 80C and section 10(10D) respectively.

How does ING My Term Insurance Plan work?

35 year old Ashwin takes ING My Term Insurance Plan for a sum assured of Rs 60 Lac and has to pay Rs 7,597 p.a. for 20 years. He opts for 50% Family Income Benefit option. The benefits of this plan are shown below:


Click on the figure to view / download

Premium mentioned above are exclusive of service tax and for a non-smoker individual

Sample Illustration:

Age (Years) Policy Term (Years) Premium Payment Term (Years) Life Cover Annual Premium (Rs.)
35 35 25 35,00,000 14,938
35 20 20 25,00,000 6,218
40 20 10 100,00,000 28,406
Premium mentioned above are exclusive of service tax and for a non-smoker individual

What are the key features of the product?

Minimum / Maximum Age at Entry 18 years / 65 years
Maximum Maturity Age 75 years age
Policy Term* Fixed Term:- 10 – 35 years
Premium Paying Term (PPT) Regular Pay: Equal to policy term
Limited Pay: 5 or 7 or 10 years
Minimum Life Cover (Rs.) Rs. 25 lakhs
Maximum Life Cover (Rs.) Rs. 25 crores
Premium Mode Annual, Semi-Annual, Quarterly and Monthly
*The minimum policy term for 7 year PPT is 15 years and for 10 year PPT is 20 years.

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