ING Life Insurance Golden Years Retirement Plan

Your retirement years allow you to leisurely enjoy everything you always aspired for. That’s why we call them the Golden Years of your life. You need to plan well so that you don’t just retire, you retire well.

What is ING Golden Years Retirement Plan..?

ING Golden Years Retirement Plan is a unique plan that helps you make your retirement years the golden years of your life by offering a host of

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 % per year for first  five policy years and 1.5 % per year for rest of the policy term. The interest once added in IPA is guaranteed to be paid.

 Flexibility..!:

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

    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.

    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.

    Postponement of retirement age:

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

  Regular and Disciplined Savings:

    A disciplined saving method (starting with as little as Rs. 2,000 per month) goes a long way in building the desirable retirement corpus.

Guaranteed Vesting Benefit:

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

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

    Individual pension account (IPA) value.

    You may take up to 1 / 3rd of the maturity amount tax free in cash & use the balance to purchase annuity from ING Life Insurance to ensure a monthly income for your life time.

 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).

Life Cover..!

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

    105 % of gross premiums &  Top Up premiums (excluding service tax)

    Gross premium & Top Up premiums compounded at 1 % p.a. (excluding service tax)

    Individual Pension Account (IPA) Value.

 Tax Savings.!:

    All the premiums paid are tax free under section 80C.

 Minimum / Maximum Age at Entry          18 years – 65 years

Minimum / Maximum Vesting Age           45 Years - 75 years

Vesting Term / Premium Paying Term            

Premium Payment Term Vesting Term Allowed

Single Pay              10-42 years

Limited Pay:    5 – 9 years     10 years

Limited Pay (10-41 Years) and Regular Pay   15 - 42 years

Minimum Premium for Limited Pay / Regular Pay Premium    

Payment Term   Minimum Annual Premium   Minimum Monthly Premium

5 – 9 years                  Rs. 48,000                                                                 Rs. 4,000

10 - 42 years             Rs. 24,000                                                         Rs. 2,000

Minimum Single Premium  Rs. 2,40,000

Premium Payment Frequency      Annual and Monthly modes available

Annuity Options       Guaranteed for Life

 Premium Allocation Charge

Regular Premiums Policy Year   

Allocation Charges as a % of Annual Premium

Annual Mode           Monthly Mode

            Allocation Charges as a % of Single Premium

1          9%      6%      3%

2-5      2.5%   2          NIL

6th   Onwards             2%      2%      NIL

 Policy Admin Charge:

Policy Year   

Charges as a % of Annual/Single Premium

Regular Pay PPT / Limited PPT    Single PayPPT

1          NIL                  NIL

2-5      4%                   2.2%

6th onwards    4%      0%

Annual Management Fee

The Annual Management fee is 1.35 % p.a. and is charged as percentage of the pension account value.

Contact

 

Registered & Corporate Office

'ING Vysya House', 5th Floor

22, M.G. Road, Bangalore - 560 001

Phone : 91-80-2532 8000

Fax : 91-80-2555 9764    

National Operations Office

No 690, 1st floor, Gold Hill Square, Begur Hobli, 

Hosur Road. Bangalore – 560068

Phone : 91-80-41345134, Fax : 080-41100707     

Call / Fax

Toll free No:1-800-419-8228

Mobile No: +91-9880888228

Landline No: 080-41345444

Fax : 080-41100700

Operational Hours: 

9 AM to 9 PM (Monday to Friday)

9 AM to 6 PM (Weekends and Holidays)

SMS

SMS 'ING' to 5676770

For Policy Taken Contact..!

  

Mr. Rajendran, Insurance Advisor,

Cell: 98406 82679

57, Bajanai Kovil Street,

Kannadapalayam, West Tambaram,

Chennai - 600 045

Landline: 044 - 2226 7785

Email id: geeaarr@gmail.com

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