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ING Reassuring Life Endowment Plan
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This plan has been withdrawn by the insurance company and is no longer available for sale.
ING Reassuring Life Endowment Plan
ING Reassuring Life Endowment Plan with Reversionary Bonus Plan is a Participating Endowment Plan. It is a Traditional Plan with Bonus facility.
How it works– In this plan, premium needs to be paid for the entire policy tenure as chosen between 10 to 30 years, which can be paid annually, semi-annually, quarterly and monthly.
On survival till the end of the Policy Tenure, the policyholder gets the entire Sum Assured + Reversionary Bonus + Final Addition Bonus as Maturity Benefit and the policy terminates. However, if the Life Insured dies within the Policy Tenure, the Sum Assured + the accumulated Reversionary Bonus + Final Addition Bonus is paid to the nominee as Death Benefit and the policy terminates.
There are 4 additional riders in this plan.
Key Features of ING Reassuring Life Endowment Insurance Plan
This is a Regular Payment Endowment Plan with Reversionary Bonus facility
Maturity Benefit is Sum Assured + Reversionary Bonus + Final Addition Bonus
Final Addition Bonus is payable for Policy Tenures more than 15 years
If the Life Insured dies within the policy tenure, Sum Assured + the accumulated Reversionary Bonus + Final Addition Bonus is paid to the nominee as Death Benefit
There are 4 riders available in this plan
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS
Benefits you get from ING Reassuring Life Endowment Insurance Policy
Death Benefit – In case of death of the Life Insured within the Policy Tenure, the nominee gets the entire Sum Assured + the accumulated Reversionary Bonus + Final Addition Bonus as the immediate Death Benefit and the policy terminates
Maturity Benefit – On survival till the end of the policy tenure, the policyholder gets the Sum Assured + the Reversionary Bonus + Final Addition Bonus (for policies more than 15 years) is paid to the nominee as Death Benefit and the policy terminates
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
Eligibility conditions & other restrictions in ING Reassuring Life Endowment Policy
Minimum
Maximum
Sum Assured (in Rs.)
Policy Term (in years)
10
30
Premium Payment Term (in years)
Same as Policy Tenure
Entry Age of Life Insured (in years)
12
55
Age at Maturity (in years)
-
65
Annualized Premium (in Rs.)
8,000
No Limit
Payment modes
Annual, Semi-Annual, Quarterly and Monthly
Sample illustration of ING Reassuring Life Endowment Plan
The below illustration is for a healthy male with Sum Assured of Rs 5,00,000 for a policy of 20 years with regular premium paying term
Additional Features and Benefits of ING Reassuring Life Endowment Plan
Riders – There are 4 additional riders in this plan:
Term Rider
Accidental Death Benefit Rider
Accidental Death, Disability and Dismemberment Rider
Waiver of Premium Rider
What happens if?
You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease.
You want to surrender the policy – There are Surrender Benefits in this plan.
You want a loan against your policy – Loan facility is available after completion of 3 policy years.
