ING Term Life Plan
Like a simple and pure term plan, ING Vyasa’s Term Life Plan is a vanilla term plan with only Death Benefit to the nominee if the life insured dies within the policy tenure and nothing would be payable to the policyholder if the life insured survives the policy term. It is a pure protection plan.
Key Features
There are 2 riders in this policy
- Accidental Death Benefit rider
- Accidental Death, Disability and Dismemberment Benefit rider
Benefits
In case of death of the policy holder, the nominee would get the sum assured under the plan
There are no maturity benefits under this policy.
Life Insurance premiums paid up to Rs.1,50,000 are allowed as a deduction from the taxable income each year under section 80C
Eligibility
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 10,00,000 | No Limit |
| Policy Term (in years) | 10 | 30 |
| Premium Payment Term (in years) | 1,3,5 | Equal to policy term |
| Entry Age of Policyholder (in years) | 18 | 65 |
| Age at maturity (in Rs.) | - | 75 |
| Single Premium | NA | NA |
| Payment modes | Annual, Semi-Annual, Quarterly and Monthly and Single | |
FAQs
You stop paying the premiumIf the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period. You can re-instate the policy within 2 years of lapsation.
You want to surrender the policyThere are no surrender benefits under this term plan.
You want a loan against your policyLoan facility is not available under this policy.
Term Insurance comparisonClick to get a comprehensive term insurance comparison of plans in India.
- It is a pure Term Insurance Policy with Death Benefit only and no Maturity Benefit.
- Additional rider benefits of Accidental Death and Accidental Death, Disability and Dismemberment benefit.
- Single and limited premium payment options available.
