ING Life Insurance launches a unique retirement solution - ING Golden Years Retirement Plan

A traditional retirement plan, ING Golden Years has been specially designed to help customers build a solid retirement corpus so that they can enjoy the golden years of their lives
 
 
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* ING Life Insurance
* Golden Years
* Retirement Plan

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* Bangalore - Karnataka - India

BANGALORE, India - June 6, 2013 - PRLog -- “Planning for Retirement” is one of the key triggers for customers to buy products from Life Insurance Companies. To tap this ever growing opportunity in the country, ING Life Insurance today announced the launch of its new retirement solution, “ING Golden Years Retirement Plan”.

A traditional retirement plan, ING Golden Years has been specially designed to help customers build a solid retirement corpus so that they can enjoy the golden years of their lives. The plan offers a host of benefits that customers will find very useful.

Three reasons why one should buy ING Golden Years Retirement Plan:

·         Guaranteed Returns: Your Individual Pension Account (IPA) grows at an interest rate declared every year subject to a minimum of 5% p.a. for the first 5 policy years and a capital guarantee over the life of the policy.

·         Multiple Flexibilities: like unlimited top-ups and premium payment terms.

·         Offered by a company with a Consistent Bonus Track Record (on existing retirement portfolio)

Speaking about the new product, Mr. Uco Vegter, Chief Financial Officer, ING Life Insurance said, We are delighted to launch ING Golden Years Retirement Plan, a unique product designed to ensure that you live an Independent life without compromising on your standard or quality of living during your golden years of life. Our past experience and track record in managing a healthy retirement portfolio has helped us come with this great offering. We are sure our customers will find this as a solution with a host of flexibilities which will help them plan well so that they retire well”.

Key Benefits of Golden Years Retirement Plan:


Growth with minimum guarantee:

Your Individual Pension Account (IPA) grows at an interest rate declared every year. It is determined subject to the performance of the fund. However, the minimum interest rate on your IPA is 5% p.a. for the first 5 policy years and 1.5% p.a. for rest of the policy term. The interest once added in IPA is guaranteed to be paid.

Consistent Bonus Track Record on Existing Retirement Plans: ING Life Insurance has demonstrated a consistent bonus track record by delivering an average interest rate of 8.54% over last 8 years on its existing retirement plans

Flexibility:

This plan offers multiple flexibilities to help you plan your retirement as per your convenience.

a.      Top-Up Premium: In addition to the regular premium, you can pay an additional amount during the policy term (subject to product terms and conditions) to ensure your retirement fund grows faster.

b.      Premium Payment Options:

-       Choosing from Regular, Limited or Single Payment options-

-       You can choose to pay your premium either monthly or annually.

-       You can decrease or increase the premium payment term by keeping the premium amount same subject to meeting the applicable  minimum premium

c.       Postponement of retirement age: You may postpone your retirement age (subject to product terms and conditions) depending upon change in your retirement planning.

Guaranteed Vesting Benefit-

On completion of vesting term, you receive higher of the two below

Gross premiums including top-up premiums compounded @ 1% p.a., or

Individual pension account (IPA) value.

Loyalty Benefit:

All premium allocation charges deducted are refunded to your pension account on reaching the retirement age. This is applicable once you have made a total premium payment of Rs. 4,80,000/- (does not include top-up premiums).

 Regular & Disciplined Savings:

A disciplined saving method (starting with as little as Rs. 2000 per month) goes a long way in building the desirable retirement corpus.

Life Cover:

In case of demise of the policy holder, higher of following is paid to the nominee:

a.      105% of gross premiums and Top Up premiums

b.      Gross premium and Top Up premiums compounded @ 1% p.a. (excluding service tax)

c.       Individual Pension Account (IPA) Value.

Tax Savings:

All the premiums paid are tax free under section 80C.
End
Source:Bharti AXA General Insurance
Email:***@mslgroup.com Email Verified
Phone:080-43409500
Tags:ING Life Insurance, Golden Years, Retirement Plan
Industry:Insurance
Location:Bangalore - Karnataka - India
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