 Broadly insurance can be classified in two categories: First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types: Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans. Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan . |
AHMEDABAD: The Dutch banking and insurance group ING Vysya on Wednesday said it has launched a new unit linked saving plan 'ING Prime Life',
offering returns on fund allocation charges.
"Keeping in view the demand of customers in today's scenario we have launched this new plan that offers returns up to 200 per cent on fund allocation charges," ING Life Insurance Chief Distribution Officer Rahul Aggarwal told reporters.
"For a 15 year policy term, 125 per cent of the initial allocation charges are returned, where as for a 20 year term, 200 per cent of fund allocation is returned," Aggarwal said adding, "The plan offers five per cent increase on the base sum assured every year."
ING Life Insurance has a paid up capital of Rs 1019.2 crore, and pan-India presence in 234 cities, with 367 sales teams.
