ING Life Insurance India today launched a new unique Unit Linked Insurance Product, which provides the customer the opportunity to participate in the equity market while protecting investments from its downside.
Advantages of ING Market Shield Plan –
Top-up Premium –
You have an option to increase your contribution by paying top-up premiums in the same policy.
Partial Withdrawal Benefit –
This Policy allows partial withdrawal from your fund at any point of time after completion of first five Policy Years.
Surrender Benefit –
At any point of time in the Policy Term, the Policyholder can opt to surrender the Policy.The Surrender Benefit payable is the Special Fund Value (calculated on higher of Daily NAV or G-NAV) less Policy Discontinuance Charges, as applicable.
Policyholder will be eligible for tax benefits under section 80C and section 10(10D) of the Income Tax Act, 1961 –
1- Under section 80C, you can save up to Rs. 30,900/- from your tax each year (assumed at the highest tax bracket) as premiums upto Rs.100,000/- are allowed as deduction from your taxable income.
2- Under section 10(10D), the benefits you receive from this policy are exempt from tax.
Partial Withdrawal Charges – There are no charges for Partial Withdrawals.