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ING Term Life Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

ING Term Life Plan

Like a simple and pure term plan, ING Vyasa’s Term Life Plan is a vanilla term plan with only Death Benefit to the nominee if the life insured dies within the policy tenure and nothing would be payable to the policyholder if the life insured survives the policy term. It is a pure protection plan.

 

Benefits you get from ING Term Life Plan

Death Benefit – In case of death of the policy holder, the nominee would get the sum assured under the plan

Maturity Benefit – There are no maturity benefits under this policy.

Income Tax Benefit - Life Insurance premiums paid up to Rs.1,50,000 are allowed as a deduction from the taxable income each year under section 80C

 

Eligibility conditions and other restrictions in ING Term Life Plan

 

Minimum

Maximum

Sum Assured (in Rs.)

10,00,000

No Limit

Policy Term (in years)

10

30

Premium Payment Term (in years)

1, 3, 5

Equal to policy term

Entry Age of Policyholder

18

65

Age at Maturity

-

75

Single premium (in Rs.)

NA

NA

Payment modes

Yearly, Half-yearly, Quarterly, Monthly and Single

 

 

Sample illustration of premium amount in ING Term Life Plan

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years

 ING Vysya Term Life Sample Premium Rates

 

Additional Features and Benefits of ING Term Life Plan

Riders – There are 2 riders in this policy

·         Accidental Death Benefit rider

·         Accidental Death, Disability and Dismemberment Benefit rider

 

What happens if?

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period. You can re-instate the policy within 2 years of lapsation.

You want to surrender the policy – There are no surrender benefits under this term plan.

You want a loan against your policy – Loan facility is not available under this policy.


Click to get a comprehensive term insurance comparison of plans in India.

  • It is a pure Term Insurance Policy with Death Benefit only and no Maturity Benefit.
  • Additional rider benefits of Accidental Death and Accidental Death, Disability and Dismemberment benefit.
  • Single and limited premium payment options available.

 
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