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.
Key Features
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
Benefits
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
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
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.
- Term Rider
- Accidental Death Benefit Rider
- Accidental Death, Disability and Dismemberment Rider
- Waiver of Premium Rider
How it works
Eligibility
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Minimum
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Maximum
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Sum Assured (in Rs.)
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Policy Term (in years)
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10
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30
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Premium Payment Term (in years)
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Same as Policy Tenure
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Entry Age of Life Insured (in years)
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12
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55
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Age at Maturity (in years)
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-
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65
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Annualized Premium (in Rs.)
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8,000
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No Limit
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Payment modes
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Annual, Semi-Annual, Quarterly and Monthly
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FAQs
What happens if policyholder stop paying the premiumIf the policy holder stops paying the premium, the policy lapses and all benefits cease.
What happens if policyholder want to surrender the policyThere are Surrender Benefits in this plan.
What happens if policyholder want a loan against your policyLoan facility is available after completion of 3 policy years.
