Secured Income Insurance Plan


ING brings to you a new class of endowment plans under the bouquet “ING Secured Income Insurance Plans”.

This plan is designed to offer security to you and your family in the form of long term benefits, while assuring your family a regular income if anything unfortunate were to happen.

ING Secured Income Insurance regular pay (RP) plan helps you build savings securely and in case of an unfortunate eventuality ensures monthly income for your family along with a lump sum amount.  

5 reasons to buy this plan:

  • Life cover with Family Income Benefit*
  • Guaranteed Sum Assured on maturity 
  • Annual Bonus to ensure growth in savings
  • Premium discount on higher sum assured
  • Tax benefits on premium paid and benefit amounts






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 Secured Income Insurance RP UIN: 114N060V01, ADDDB UIN: 114C002V01, ING Critical Illness Rider UIN: 114B008V01, 114B009V01, ING Term Life Rider UIN: 114B007V01. *Family Income Benefit is not available with ING Secured Income Insurance RP - Economy. **Bonus is not guaranteed and is subject to the performance of the fund. Past performance is not an indication of future performance. Tax benefits are subject to change in tax laws from time to time. Riders are optional. 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.

Who should buy ING Secured Income Insurance RP?

This plan is suited for those who want to build savings securely and want to ensure planned financial help for their loved ones in case of an unfortunate eventuality.

What are the key benefits of ING Secured Income Insurance RP? 

  • Double death benefit: In case of an eventuality, 220% of sum assured is paid as :
    • Family Income Benefit: 2% of sum assured as monthly income for 60 months.
    • Lump Sum: 100% of sum assured in lump sum along with accumulated bonuses
  • Bonuses to ensure growth in your savings: Policy is eligible for annual bonus** from year 1. Annual bonus is paid as a percentage of the sum assured. 
  • Maturity Benefit: On end of the chosen policy term, the sum assured is paid with bonus accumulated, if any.
  • Discount for higher premium: This plan rewards you with a premium discount of 3%-6% if you pay higher premiums.
  • Option for enhanced protection: You can opt to enhance your coverage by adding riders to get additional lump sum amount in case of events like accidental death or disability, diagnosis of critical illness, etc. 
  • Income tax savings: All premiums paid, death benefit and maturity benefits are exempt from income tax under section 80C and 10(10D).
 

How does the product work?

35 year old Raj invests Rs 2,336 p.m. in ING Secured Income Insurance RP - Base for 20 years for a sum assured of Rs 3.43 lac. He also takes up ING Term Life rider and ING Critical Illness – 25 rider for enhanced protection. The benefits of this plan are shown below:


Click on the figure to view / download

Premium mentioned above are exclusive of service tax

Sample illustration of the product

Age (Years) Policy Term (Years) Annual Premium (Rs.) Sum Assured (Rs.) Maturity Value (Rs.) if fund grows @ 6% p.a Maturity Value (Rs.) if fund grows @ 10% p.a.
35 25 24,000  4,73,877 9,65,524 14,92,712
35 25 18,000 3,55,408 7,24,144 11,19,534
35 25 12,000 2,36,938 4,82,762  7,46,356

Premium mentioned above are exclusive of service tax .Maturity benefit has been shown at an assumed rate of 6% p.a. and 10% p.a. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.

What are the key features for the product?

This product is available in 2 options ‘Base’ and ‘Economy’.
 

Feature ING Secured Income  Insurance RP (Base) ING Secured Income Insurance RP (Economy)
Min / Max Age at Entry 0 years – 60 years 0 years – 60 years
Min / Max Age at Maturity 18 Years – 70 years  18 Years – 70 years 
Policy Term 10-20, 25 and 30 years 10-20, 25 and 30 years
Premium Paying Term  Equal to policy term Equal to policy term
Minimum Premium (Rs.) Rs. 12000 p.a. Rs. 8000 p.a.
Maximum Premium Subject to maximum sum assured of Rs. 50 Lacs Rs 12000 p.a.
Modes of Premium payment Annual, Half Yearly, Quarterly, Monthly Annual, Half Yearly, Quarterly, Monthly
Family Income Benefit Yes No
Life Cover
Sum Assured + Accumulated bonus + Family Income Benefit of 2% of Sum Assured for 60 months
Sum Assured + Accumulated bonus
Maturity Benefit Sum Assured + Accumulated Bonus Sum Assured + Accumulated Bonus 
Loan Facility 90% of Cash Surrender Value; eligibility after payment of 3 annual premiums
Riders Available ADB / ADDDB / Term Life / Critical Illness

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