Hyderabad: ING Life India on Wednesday 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.
The new Ulip, ING Market Shield comes with unique benefits, allowing customers to maximize their returns and have adequate protection, said Rahul Agarwal, chief distribution officer, ING Life India.
Talking to mediapersons here Agarwal said, “ING Market Shield is a one of its kind unit linked insurance product. It is designed such that our customers can benefit from market’s upswaing due to high equality participation, but secures their investment from losses, when the market are volatile. The plan provides the customer a Guaranteed NAV throughout the term of the product and not just at maturity unlike most available products.”
The product invests in both equity and debt is actively managed on a daily basis through a dynamic asset allocatin technique, Agarwal said.
This process ensure maximum exposure to the stock market, while minimizing the downside risk and assures the Guaranteed NAV at all times through the term of the policy including death, surrender, partial withdrawals as well as Maturity benefit.
ING Market Shield also ensures highest equity exposure throughout the term of the policy, compared to other products, therefore its is expected to generate a higher return to customers.
For a premium paying term of 5 years the minimum payable is Rs 48,000 and for a premium paying term of 10 years or the entire policy term the minimum premium payable is Rs 36,000. The plan offers premium payment in the annual mode, and customers can choose their desired life cover ranging between 10 to 20 times the annual premium.
The product targets those investors who want to enjoy the upside of equity participation, while protecting their profits from marketing fluctuations, Agarwal added.