Date:06/03/2008 URL: http://www.thehindu.com/2008/03/06/stories/2008030655482100.htm

Business - Briefly

ING Vysya Life launches new product

Staff Reporter

KOZHIKODE: L. Murli, regional vice-president for Kerala and Tamil Nadu, ING Vysya Life Insurance, has said that ING Golden Life, a unit-linked retirement solution, offers key benefits of loyalty units and life stage investment programme.

Mr. Murli was talking to presspersons here on Wednesday on the new product launched by the company. Its features include freedom to choose vesting age – a minimum of 45 years and maximum of 75 years. Premium payment can be chosen as either single premium that entails one-time lump sum payment or regular premium where one can choose a term between five years to a maximum of 30 years.

The minimum entry age is 18 years and maximum entry age 65.

It offers additional loyalty units to the customer’s fund every year.

The units are added as a percentage of the fund value at the end of each policy year.

The new product comes with an attractive feature of unlimited top-ups, whereby customers can accelerate their retirement funds any time and up to any number of times. There is no medical underwriting in the case of this product.