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ING Prospering Life Plan Single Premium

Sample Premiums for this plan
Healthy | Male | Non tobacco user | Policy Term= 10 years | Sum Assured = Rs 5,00,000
1.91 @ 10% Lakhs Cover
1,00,000
1.29 @ 6% Lakhs Cover
1,00,000

ING Prospering Life Plan SP is a Single Premium Unit Linked Insurance Plan. Thus, it is a Non-Traditional Insurance Plan from ING Life Insurance Company.

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ING Prospering Life Plan Single Premium - Key Features

ULIP
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It is a Single Premium Unit Linked Insurance Plan

Loyalty Addition
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There is Loyalty Addition in this plan of a refund of 50% of mortality charges deducted during the entire policy term

strategies
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There are 2 investment strategies in this plan

Automatic Asset Allocation
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There is Automatic Asset Allocation Strategy in this plan

unlimited free switches
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There are unlimited free switches and redirections available in this plan

Death Benefit
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In case of death of the Life Insured within the Policy Tenure, the nominee gets the higher of the Sum Assured or the Fund Value as Death Benefit...

Fund
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The Fund Value is paid to the policyholder on policy maturity

ING Prospering Life Plan Single Premium - Benefits

Death Benefit

In case of death of the Life Insured within the Policy Tenure, the nominee gets the higher of the Sum Assured or the Fund Value as Death Benefit an...

Maturity Benefit

 When the policy matures, the Fund Value + Loyalty Additions are paid to the policyholder as Maturity Benefit and the policy termi...

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 and the Maturity pro...

Investment Fund Options

In this plan, there are 2 Investment Strategies in this plan:
  • Self-Managed Strategy whereby the policyholder can ...

Switching

There is unlimited free switches available in this plan from one fund to another.

Partial Withdrawal

In this policy, partial withdrawal is allowed after 5 complete policy years. The minimum amount of partial withdrawal should be Rs. 5,000 subject t...

Top-up

Premium can be paid anytime except in the last five policy years. The minimum top-up premium is Rs. 5,000 and the maximum is Rs 8,00,000 per Life A...

How it works

In this plan, premium needs to be paid upfront under Single Premium Payment Option but the policy continues for the entire policy tenure of 10 years. There is Loyalty Additions in this plan of a refund of 50% of mortality charges deducted during the entire policy term.
 
In this plan, there are 2 investment strategies in this plan and there is Automatic Asset Allocation Strategy in this plan. There are 5 funds for Self-Managed Option.
 
In case of death of the Life Insured within the Policy Tenure, the nominee gets the higher of the Sum Assured or the Fund Value as Death Benefit and the policy terminates.
 
However, on survival till the end of the policy tenure, the Fund Value would be paid to the Policyholder as Maturity Benefit and the policy terminates.

Eligibility conditions & other restrictions in ING Prospering Life Policy SP

  Minimum Maximum
Sum Assured (in Rs.)
For age at entry < 55 years: 1.25 to 5 times the Single Premium
For age at entry of 55 years or above: 1.1 times the Single Premium
Policy Term (in years)
10
Premium Payment Term (in years)
Single
Entry Age of Life Insured (in years)
8
65
Age at Maturity (in years)
18
75
Single Premium (in Rs.)
72000
No Limit
Payment modes
Only Single

ING Prospering Life Plan Single Premium - FAQs

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