ING Term Life Plus is yet another term insurance plan of ING Vysya Life Insurance that features return of the premiums. This is one such policy in which the sum assured is to be paid after the death of the insured down with a convinced piece of the premiums that has been paid by the insured after the achievement of half of the policy term. Apart from this the insured would also get the flexibility of surrendering the policy.
Some of the benefits that are offered under this policy to the insured are as follows:
- If the sum assured is more then rupees 5, 00,000 then the insured is eligible to get security cover.
- This insurance policy is highly flexible and the insured is allowed to decide the policy term between 10 to 30 years.
- The insured is also eligible to get mid-term benefit, which is nearly half the sum that has been assured in the policy.
- The policy holder of ING Term Life Plus would also be receiving the mid-term benefit along with the extra premium that has been paid during policy term.
- The policy has regular payment option in which the optional inclusive accidental coverage is available to the policy holder.
- In the insured dies within the term of the policy, then the amount that has been insured under this policy would be paid instantly.
- Under this policy the insured would also be receiving tax benefit under section 80c and section 10(10D) of the Indian Income Tax Act.
Some of the features of ING Term Life Plus policy are as follows:
- A person need to be more then 18 years of age to own this policy and the maximum age limit of this policy is 65 years.
- Rupees 5, 00,000 is the minimum amount that is to be insured under this policy.
- There are 3 types of premium payment terms namely regular, limited premium and single premium. The regular term that has to be paid by the insured till the end of the policy term. Single payment term is a one time payment and the partial one is for a certain period mostly for 3 to 5 years.
The premium payment terms are of 4 types namely monthly, quarterly, half-yearly and monthly.
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Tags: ING Term Life Plus, ING Vysya Life Insurance, insurance policy, Term Insurance Plan