ING Uttam Jeevan Plan

It is a Regular Premium Unit Linked Insurance Plan

There is an Enhanced Protection Benefit available with this product where the Initial Sum Assured increases by 5% every year from 2nd policy year onwards till the end of the policy term

This plan can be taken by filling a short medical questionnaire without medicals

There is double death benefit in this plan of the initial Sum Assured + Enhanced Protection Benefit + Fund Value

The Fund Value is paid to the policyholder on policy maturity

In this plan, there is an additional Accidental Death Coverage available

In case of death of the Life Insured within the Policy Tenure, the nominee gets the initial Sum Assured + Enhanced Protection Benefit + Fund Value, subject to 105% of total premiums paid to date (excluding any applicable rider premium and/or underwriting extras) less any previous partial withdrawals as Death Benefit and the policy terminates.

When the policy matures, the Fund Value is paid to the policyholder as Maturity 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

1. Accidental Death Benefit Rider

1. ING Preserver
2. ING Prime Equity

Premium can be paid anytime except in the last five policy years. The minimum top-up premium is Rs. 2,000 and the maximum is 25% of Total Premium paid during the policy term. Every Top-up premium shall have an Additional Sum Assured which will be 1.25 times of the Top-up premium paid. This Additional Sum Assured will be in addition to the life cover.

There is unlimited switches available in this plan. The first 4 switches in this plan are offered free of cost. Any additional switch within that policy year will be charged Rs.200 per switch.

In this policy, partial withdrawal is allowed after 5 complete policy years or after the Life Insured sis at least 18 years old, whichever is later. The minimum amount of partial withdrawal should be Rs. 2,000 subject to a maximum of 10% of the Fund Value prevailing at that time subject to Fund Value after each such withdrawal not being less than 1.5 times the one full year’s annualized regular premium. Only one Partial Withdrawal can be availed during a Policy Year and overall five Partial Withdrawals during the entire Policy Term.