Mumbai: ING Vysya Life Insurance on Tuesday launched ING Flexi Life Plus, a unit-linked investment plan, which offers flexibility in premium payments.
The product offers flexibility in changing the premium amount as per the revised guidelines of the insurance regulatory and development authority (Irda), the company said in a statement here.
“ING Flexi Life Plus allows our customers a lot of convenience to suit their financial needs. It offers customers to vary their premium amount as per the new IRDA regulations,” ING Vysya Life Insurance chief distribution officer Rahul Agarwal, said.
Customers can change their premium amount from second year onwards and this option is available throughout the term of the product. They can either increase their premium to 125% of their first policy year annualised premium or decrease it to 75% of the first policy year annualised premium.
ING Life India is a joint venture between ING Group (26%), Exide Industries (50%), Ambuja Cements Ltd (11.5%) and Enam Group (12.5%).