ING Uttam Jeevan SP

This is a single premium unit-linked insurance policy (ULIP). Here, the premium amount is invested in the markets (debt, equity and cash market instruments). The value of investments may go up or down and hence the risk in ULIPS is borne by the policy holder and not by the insurance company.

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Accidental death benefit
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Partial Withdrawal
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Key Features

This is a single premium unit-linked insurance policy.
There is an Enhanced Protection Benefit available with this product whereby the Initial Sum Assured increases by 5% every year from 2nd policy year onwards till the end of the policy term.
This plan may not require medical check ups.
It has a in-built Accidental Death Coverage available.
Investment Fund Options

Under this plan the policy holder gets the option of 2 investment funds. They are -

  • ING Preserver
  • ING Prime Equity

You can invest additional premiums as top-up premiums anytime except in the last five policy years. The minimum top-up premium is Rs. 2,000 and the maximum is 25% of Single 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.


You are allowed to move from one fund to another by switching the same. There are 4 free switches available each year.

Partial Withdrawal

Only one Partial Withdrawal can be availed during a Policy Year and overall five Partial Withdrawals during the entire Policy Term. You are allowed to make partial withdrawals in this policy after 5 complete policy years or after the Life Insured is at least 18 years old, whichever is later.

The minimum amount of partial withdrawal should be Rs. 2,000. The maximum partial withdrawal is 10% of the Fund Value prevailing at that time subject to fund value after each such withdrawal not being less than 20% of the single premium.


No riders are available with this plan.

Type of Rider Available with Policy
Accidental death benefit Yes
Permanent/Accidental disability benefit No
Waiver of premium benefit No
Critical illness (or dread diseases) benefit No
Increased death benefit / Term rider No
Hospital cash benefit No
Life Guardian benefit No


Sample Illustration of Returns at the end of the policy term

Annual Premium = Rs.48,000

Policy Term = 10 years                

Premium payment mode = Single

Total Investment = Rs.48,000 X 1 year = Rs.48,000


Death Benefit

In case of the unfortunate event of death of the life assured during the policy term, the sum assured will be paid to the nominee. The death benefit will be at least 1.05 times of the single premium paid including Top-up premiums (if any).

Maturity Benefit

If the policy holder survives the policy term, then he gets the Fund Value as on the date of maturity. Fund Value at maturity refers to the number of unit price at maturity times the number of units at maturity.

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. The maturity amounts you receive from this plan are exempt from tax under section 10(10D) provided the Sum Assured is at least 5 times the premium paid at all times.


  Minimum Maximum  
Sum Assured (in Rs.) 1.25 X Single Premium 5 X Single Premium  
Policy Term (in years) 10 Years  
Premium Payment Term (in years) Single  
Lock-in period 5 Years  
Entry Age of Policyholder (in years) 8 45  
Age at maturity (in Rs.)  18 Years 55 Years  
Regular Premium Not Available  
Single Premium Rs. 48,000 Rs 4,00,000  
Payment modes Single  
Top-up Premiuma Rs. 2,000 25% of Single Premium paid  



angle down iconYou want to surrender the policy

during the initial 5 years from the policy commencement then the surrender benefits shall be payable to the policyholder only after completion of 5 full Policy Years. However, such surrender benefits along with the earned interest shall be paid to the Policyholder on completion of 5 full policy years and the policy terminates. On Discontinuance or Surrender after 5 years, the Fund Value is paid immediately and the policy is terminated.

angle down iconYou want a loan against your policy

Loans are not allowed in this plan.