ING STAR LIFE- EARN UPTO 10% RETURN

ING STAR Life

ING STAR Life, a unique life insurance plan that helps you enjoy assured tax free returns on your hard earned savings. All you have to do is pay premium for 3 years and enjoy benefits in a 12 year period. ING STAR Life has unique advantages:

• Assured tax free returns
• Life Cover (5 times the annual premium)
• Benefit payout in 10th, 11th and 12th year

KEY BENEFITS

1.Guaranteed Death Benefit:

ING STAR Life secures your family’s financial future in case of an unfortunate event by guaranteeing death benefit of 5 times the annual premium. The life cover is applicable throughout the policy term of 12 years.

2. Guaranteed Addition Rate:

ING STAR Life assures you a guaranteed rate of addition from year 1 till policy maturity. The rate varies as per the sum assured chosen as follows:- Sum Assured (in Rs.) Guaranteed Addition Rate (per annum) 65,000 – 1.3 Lac 8% 1.30 Lac – 1.95 Lac 9% 1.95 Lac – 2.5 Lac 9.5% 2.5 Lac and above 10% Guaranteed Addition is accumulated every year as a percentage of the sum assured and is paid in aggregate after the end of the 12th policy year.

3. Guaranteed Survival Benefit

With ING STAR Life, you do not have to wait for the end of the policy term to receive the full policy benefits since you start getting the sum assured in 10th year (50%) and 11th year (50%).

4. Guaranteed Maturity benefit:

With ING STAR Life, the maturity benefit is paid at the end of policy term and is equal to the sum of all guaranteed additions accumulated over 12 years.

5. Other Benefits::

Short premium contribution term: You need to pay premiums only for 3 years while you enjoy all the benefits in full policy term of 12 years. Policy Loan: You can avail a policy loan after paying the premium for two full years and after completion of 2 policy years as per the prevailing terms applicable to the product. Tax Benefit: You can avail of the tax benefits* on the premium paid and the benefits received as per the prevailing tax laws under Section 80C and Section 10(10D) of the Income Tax Act, 1961. The tax benefits are subject to change as per change in Tax laws from time to time. For specific details please contact your tax consultant before you invest in this policy.

PRODUCT FEATURES

Minimum / Maximum Age at Entry 8 years / 60 years age last birthday Minimum / Maximum Maturity Age 20 Years / 72 years age last birthday Policy Term 12 Years Premium Paying Term (PPT) 3 Years Minimum Annual Premium Rs. 25,000 Minimum Sum Assured (Rs.) Rs. 65,000 Maximum Sum Assured (Rs.) Rs. 50,00,000 (Subject to underwriting) Premium Mode Annual only

FOR MORE DETAIL PLEASE FEEL FREE TO CONTACT ME AT 9811511501.

ING Market Shield

Is unpredictable market situation concerning you to limit your investments? No worries. ING presents ING Market Shield - one of its kind insurance plan that offers guaranteed high returns in a fluctuating market.

ING Market Shield not only provides life cover but also balances risk and reward in a transparent manner and provides you an opportunity to enjoy growth while retaining protection. It is a Unit linked life insurance plan that ensures you never miss an opportunity to maximize your gains and at the same time limits your losses.

Key Benefits High Returns: Optimize your upside potential with continuous equity participation. Guaranteed NAV: Protects your investments from fluctuations in the markets Guarantee Anytime:Guaranteed NAV can be availed anytime in policy term, not only on maturity. Flexibility: Option for Limited premium payment term, charge free withdrawals; Top Ups

Product Features

Entry Age (age last birthday) Minimum: 8 Years Maximum: 55 Years Age at maturity Minimum: 23 Years Maximum: 70 Years Premium Paying Term (PPT) 5, 10 years or Regular (Equal to Policy Term) Policy Term 15 - 20 years Premium Minimum For 5 yr PPT : Rs 48000 For 10 yr or Regular PPT: Rs 36,000 Maximum: No Limit Initial Sum Assured 10 to 20 times the Annual Premium Frequency Annual Premium Payment only Top Up Premium Minimum: Rs 5,000 Maximum: Any amount (subject to U/W guidelines)

ING Life to invest Rs 2.40 bn for expansion plans

ING Life India, part of the ING Group, has announced its 5-year growth ambition, including growing the business by 5 times and growing its customer base to 5 million. The company will be infusing fresh capital of Rs 2.40 billion in FY 2010-11 to fund its expansion.Unveiling the 5-year ambition for ING Life India, Tom McInerney, COO - ING Insurance said, ``ING sees its Asia-Pacific businesses to lead the growth in insurance worldwide. Within ING Asia-Pacific, India is uniquely placed and a frontrunner of this growth. We have a huge opportunity in this market and we are committed to see this business grow.``ING Life India`s 5-year ambition will be driven by expanding its distribution network, improving its productivity and building efficiencies. ING Life currently has a strong captive distribution network, including its tied agency force and bancassurance. It has a presence panning 232 cities across the country, with over 55,000 tied agents and a strong Bancassurance partner, ING Vysya Bank.Explaining the plan, Kshitij Jain, MD & CEO, ING Life India said, ``Over the last 18 months, we had focused on consolidating our business and strengthening its foundation. The company is ready to embark on its next phase of growth. This growth will come from expanding our current distribution network and building further on our productivity. We are targeting to grow our Business by 5 times and achieve a customer base of over 5 million in the next 5 years.``Explaining the company`s focus on driving efficiency, Jain said, ``We have built an efficient business, and will continue to drive this as an important focus area. The board has approved the infusion of Rs 2.40 billion additional capital in 2010-11 to fund the next phase of growth.``ING Life India`s total premium income (TPI) has grown CAGR 40% in the last 5 years, closing at Rs 16.43 billion for FY 2009-10. Its asset under management has shown a significant growth at CAGR 66%, and the company now manages over 45 billion. ING Life India`s declining opex/TPI ratio is a result of its sharp focus on managing its business efficiently. Declining opex/TPI ratio is a key indication of efficiency in life insurance business. ING Life India today has presence across 232 cities. The company is capitalized at over Rs 12 billion, with a solvency margin of 2.21 times.

New Laws for ULIPs

यूलिप के लिए दिशानिर्देश जारी

नई दिल्ली, प्रेट्र : बीमा नियामक इरडा ने सोमवार को यूनिट लिंक्ड बीमा उत्पादों यानी यूलिप के लिए नए दिशानिर्देश जारी कर दिए। यूलिप पर नियंत्रण को लेकर बाजार नियामक सेबी से रस्साकशी में जीत हासिल करने के बाद निवेशकों को इनका बेसब्री से इंतजार था। उम्मीद के मुताबिक इरडा ने नए दिशानिर्देशों में सख्ती बरती है। उसने न केवल धन निकासी की अवधि यानी लॉक इन पीरियड बढ़ा दिया है, बल्कि बीमा कवर को बढ़ाने के लिए भी बीमा कंपनियों से कहा है। इन दिशानिर्देशों को बीमा कंपनियों को एक सितंबर से लागू करना है। इरडा की ओर से सोमवार को जारी एक सर्कुलर में सभी यूलिप उत्पादों के लिए लॉक-इन पीरियड को तीन साल से बढ़ाकर पांच साल कर दिया गया है। इससे यूलिप दीर्घकालीन वित्तीय उत्पाद बन गए हैं जो जोखिम से सुरक्षा प्रदान करते हैं। ऐसे उत्पादों पर बीमा कवर देने की भी बात कही गई है, जिसमें पहले वर्ष का प्रीमियम बढ़ाकर 10 गुना कर दिया गया है। फिलहाल यह पांच गुना है। इन कदमों के साथ इरडा ने यूलिप के मामले में बीमा पहलुओं को बढ़ाने की कोशिश की है। सेबी और इरडा के बीच विवाद की जड़ यह थी कि सेबी इन्हें निवेश उत्पाद मानता आया था, वहीं इरडा का कहना था कि ये बीमा उत्पाद हैं। उम्मीद के मुताबिक इरडा ने कमीशन और खर्चो में भी कटौती कर दी है। नियामक ने साफ कहा है कि बीमा कंपनियों को सभी यूलिप पर पेंशन के अलावा हेल्थ और लाइफ कवर देना होगा। नए दिशानिर्देशों में यूलिप उत्पादों पर 4.5 प्रतिशत का सालाना रिटर्न देने के लिए भी कहा गया है।

Ulips, equity MFs to lose tax cover in new-look Code

Ulips, equity MFs to lose tax cover in new-look Code

http://economictimes.indiatimes.com/personal-finance/mutual-funds/mf-news/Ulips-equity-MFs-to-lose-tax-cover-in-new-look-Code/articleshow/6056607.cms

NEW DELHI: Unit-linked insurance plans (Ulips), equity-oriented mutual fund schemes and a number of other popular savings and investment instruments will lose their tax immunity, and with it, their attractiveness when the Direct Taxes Code (DTC) comes into operation. The Central Board of Direct Taxes (CBDT) plans to reduce the number of instruments that qualify for tax deductions to only about half a dozen, its chairman SSN Moorty said, as the government overhauls the direct tax regime to try and make it simpler, boost revenues and encourage long-term savings. The Rs 3-lakh tax deduction limit proposed in the draft DTC will also be lowered. Revised proposals for a new Direct Taxes Code to replace the nearly 50-year-old Income-Tax Act were unveiled on Tuesday. The government has said it hopes to operationalise the code by April 2011. Ulips, which are hybrid products incorporating investment and insurance cover as traits, are particularly popular. In the 2009-10 fiscal, such products accounted for more than four-fifths of the total insurance premium of around Rs 2.60 lakh crore that was collected. They are controversial too: capital market regulator Sebi and insurance regulator Irda are involved in a tug-of-war over who has the right to regulate Ulip products. “Ulips will be out of the exempt, exempt, exempt (EEE) tax regime,” said a senior finance ministry official, referring to the different stages at which financial instruments may be taxed. At present, individuals who invest in Ulips do not pay tax at any stage—at the time of investment or contribution, during the tenure of investment, or at maturity. It qualifies for tax deduction along with a host of other savings schemes, including bank deposits, equity-oriented mutual funds, national savings certificate deposits and principal repayment on home loans. Taxpayers can claim a deduction of up to Rs 1 lakh a year on these instruments. “Tax benefits are a key driver for insurance penetration and dilution of any benefits will have an impact on penetration,” said GV Nageswara Rao, MD and CEO, IDBI Fortis Life insurance. The revised proposals make it clear that only six schemes—public provident fund (PPF), the pension scheme administered by the Pension Fund Development Regulatory Authority, general provident fund, recognised provident funds and pure life insurance and annuity schemes—will be tax-free. Tax will not be levied at any stage on these schemes. The new pension scheme will also be covered by the EEE method of taxation and withdrawals will not be taxed at maturity. However, investments made before the DTC comes into force will continue to be eligible for the EEE method of tax treatment for the full duration of the financial instrument. This means an investor who buys a Ulip before the DTC comes into force will not be taxed at any stage during the full tenure. Ulips could be taxed at the time of maturity, but the government has not clarified yet the tax treatment of the products. “The existing tax treatment of Ulips is beneficial as it helps in the flow of funds to the infrastructure sector, besides contributing significantly to the capital market”, said R Kannan, member-actuary, Irda. The original code had proposed the concept of savings intermediaries that would invest the amounts deposited with them in Ulips, equity-linked mutual fund schemes, debt-oriented mutual fund schemes or other financial products depending on investors’ choice. Withdrawals would be taxed, but not a rollover. CBDT has dropped the proposal to tax savings instruments at maturity in the absence of a social security system. The aim now is to encourage taxpayers to invest in long-term savings schemes. PPF, for instance, has a 15-year tenure, although partial withdrawals are allowed after the sixth year. The revised discussion paper has said the rules for contribution and withdrawal will be harmonised and made uniform so that savings are made by the taxpayer for the long term.

ING GOLDEN LIFE

ING GOLDEN LIFE-is one of the top three Retirement Plans in the Country (Financial Cronical Nov 2009)

Today when you look ahead in life your golden years may seem far away, but only if you plan towards the future ‘Today’ will these dreams become a reality. It’s vital to save systematically and have a financial plan that helps you stay in control of your retired life and live the way you want to. As a unit linked investment plan – ING New Golden Life offers you the perfect solution that will help you realize the retired life of your choice, with a wide range of Benefits that are personalized to suit your needs and ensures that your life after retirement is the golden period of your life.


Key Benefits
*Flexibility to choose your age of retirement / vesting date
*Loyalty units to grow your fund faster
*Flexible Investment Strategy - Manage your own investments or choose the Life Stage Investment


Product Features
*Eligibility
Minimum Age at Entry: 18 years
Maximum Age at Entry: 65 years
Minimum Vesting Age: 45 years
Maximum Vesting Age: 75 years
*Minimum Yearly Premium
For Premium Payment Term: Less than or equal to 10 years - Rs.30,000 p.a.
For Premium Payment Term: Greater than 10 years:- Rs.18,000 p.a.
*Maximum Yearly Premium
There are no limits on the maximum premium payable
*Premium Paying Term
5 to 30 years (for Regular premium)
*Vesting Period
Minimum Vesting Period: 10 years
Maximum Vesting Period: 57 years
Vesting periods allowed are 10, 15, 16… 57 years