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Knowledge Base Life Insurance Basics ING Vysya Life Insurance
Thursday, 27 January 2011 11:22

ING Vysya Life Insurance

Written by  Yashish Dahiya
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ING Vysya Life Insurance


Incorporated in September, 2001 ING Life India is a private life insurance company headquartered in Bangalore. It is a joint venture between ING group, Dutch global financial institution and Exide – India’s largest manufacturer of automotive and industrial batteries.ING has 26% stake and Exide has 50% stake in the venture.

Product Portfolio:


ING Life India has wide array of products which include Retirement plans, child plans, investment plans and term plans.

Retirement Plan: With rising inflation, it’s absolutely necessary to make provisions for the future which makes retirement plan an important financial decision. Better known as Pension plan, this plan takes care of financial needs after retirement by investing a part of your savings for limited period. Pension plan provides steady income after retirement and takes care of daily needs. The pension plans offered by ING Life are New Best Years and Immediate Annuity.

Child Plan: Parenthood brings responsibilities and no one is better judge of that than you. Child Plan is a plan specifically designed to take care of financial needs of your child. Child plan provides with necessary funds that will take care of child’s education, marriage etc. By investing small portion of your savings you secure the financial end of your child. Child plans of ING Life are called Aashirwad, Creating Life Child Protection Plan and Creating Life Money Back Plan.

Term Plan: A risk plan which provides comprehensive cover for your family in the unfortunate event of untimely demise. A term life insurance plan provides good cover at relatively nominal cost and has no survival benefits. ING Life term plans are Term Life and Term Life Plus.

Investment Plan:  Popularly known as ULIP, an investment plan invests part of your savings in equity or debt market as per your preference. The objective of investment plan is to give you returns which easily beat the rising costs since the usual returns in a bank are extremely low. ULIP’s offered by ING Life are Market Shield, Prospering Life,ING Prospering Life- Single Premium, Uttam Jeevan- Regular Premium, Uttam Jeevan- Single Premium, Powering Life, Platinum Life Plan, New fulfilling Life Plan, Reassuring Life Endowment Plan, Safal Jeevan Endowment Plan, Safal Jeevan Money Back Plan and Creating Star Guranteed Future.

Distribution Network:


ING Life India distributes its products through two channels- Tied Agency Force and the Alternate Channel. The former channel comprises over 50,000 Agents while the latter includes the Bancaassurance channel, referral partners, corporate agents and brokers.ING Life India is present in 229 cities across 251 branch offices.

Financial Information:


The total premium earned for the half year ended September 30, 2010 was Rs 7,167 million. The profit after tax for the same period is Rs 460 million. There have been 1,035 death claims reported during the period out of which 880 claims were settled and 39 claims were rejected.

Marketing Campaigns:


ING Life begun with “Mera Farz” campaign which reflected on ING Life assistance in helping people to fulfill their responsibilities towards their family. The latest campaign is in the form of jingle consisted of responsibilities which attach themselves with happy events- marriage, child birth and with ING life there is no need to worry. You can enjoy your happiness, these ads proved quite successful in making an impression in customer’s mind.

Management:


Kshitij Jain is the MD & CEO of ING Life.

John Boers is the CFO of ING Life.
B Ashwin is the COO of ING Life.
Hemamalini Ramakrishnan is the Appointed Actuary of ING Life.

Reach ING Life Insurance:


Telephone: 1800 419 8228

 

SMS 'ING' to 53636

ING Life Product Table:


 

Retirement/Pension Plan

ING New Best Years

Retirement/Pension Plan

ING Immediate Annuity

Child Plan

ING Aashirwad

Child Plan

Creating Life Child Protection Plan

Child Plan

Creating Life Money Back Plan

Term Plan

ING Term Life

Term Plan

ING Term Life Plus

Savings & Investment Plan

ING Market Shield

Savings & Investment Plan

ING Prospering Life

Savings & Investment Plan ING Prospering Life- Single Premium

Savings & Investment Plan

ING Uttam Jeevan- Regular Premium

Savings & Investment Plan

ING Uttam Jeevan- Single Premium

Savings & Investment Plan

ING Powering Life

Savings & Investment Plan

ING Platinum Life Plan

Savings & Investment Plan

ING New Fulfilling Life Plan

Savings & Investment Plan

Reassuring Life Endowment Plan

Savings & Investment Plan

Safal Jeevan Endowment Plan

Savings & Investment Plan

Safal Jeevan Money Back Plan

Savings & Investment Plan

ING Creating Star Guranteed Future


Source:


ING Life Website

 

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