Recently, ING Life launched ING Uttam Jeevan and ING Uttam Jeevan SP, two new customer-centric unit linked products.
Mr. Rahul Agarwal who is the Chief Distribution Officer said about ING Uttam Jeevan and ING Uttam Jeevan SP, “I am delighted to announce the new ULIPs, Uttam Jeevan and Uttam Jeevan SP. Both these products have been designed keeping in mind our customers need for investment and protection. These are simple products, which will appeal to our customers across categories, especially for those who are new to the world of ULIP. They are easy to understand and buy.”
About ING Uttam Jeevan and ING Uttam Jeevan SP, an online news portal about business and economy – economictimes.indiatimes.com writes, “ING Life has launched two new customer-centric unit linked products which meet the investment and protection needs of customers. ING Uttam Jeevan and its single premium variant, ING Uttam Jeevan SP, meet the new IRDA guidelines.”
Further the news portal writes in the analysis of ING Uttam Jeevan and ING Uttam Jeevan SP, “Uttam Jeevan and Uttam Jeevan SP are targeted at all categories of customers, including those who are looking at ULIPs for the first time. The minimum annual premium for Uttam Jeevan is Rs 24,000, while that of Uttam Jeevan SP is Rs 48,000. Being non-medical insurance products, they are hassle free and easy to buy.
With the new guideline, the products enable a higher allocation of premium for investments, thus getting better returns. The product offers customers an automatic increase of 5 per cen in the base sum assured year-on-year, thus keeping up with the increased financial responsibility with age of the customer. It also has in-built accidental death benefit. The death benefit is Sum Assured plus Fund Value. The products offer flexibility to customers with charge free withdrawals as well as top ups. In case the policy lapses, customers can reinstate the policy within 45 days from the date of lapse free of charge. Customers also have the benefit of increasing their contribution by way of Top-Up, with a minimum top-up premium of Rs. 2,000. Four free switches are allowed every policy year, helping customer to manage their investments well.”
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