ING Life launched traditional insurance product ‘ING ACE’ offering guaranteed additions, limited premium pay and tax benefit. The new plan has two variants — Pension and Life with features as guaranteed additions, limited premium pay and tax benefit under Section 80 C of the Income Tax Act.
ING ACE Pension offers guaranteed addition of 8.75 per cent annually throughout the 10-year term of policy. ING ACE Life offers 7.75 per cent annual guarantee additions depending on the premium paid. Under both the above plans the customers need to pay the premium only for three years in annual mode.