ING Secure Income Insurance RP Review
Plan Name: Secure Income Insurance Plus
Insurer: ING Life Insurance
Category: Traditional Plan
Objective: Financial protection of family and periodic returns on investment
ING Secure Income RP is available in 2 variants- Base and Economy.
Major USP of ING Secure Income Insurance RP
Two variants to choose from
Eligibility of ING Secure Income Insurance RP
Minimum Entry Age: 0 Years
Maximum Entry Age: 60 Years
Maximum Age at Maturity: 70 Years
Policy Term: 10- 20, 25 and 30 Years
Premium Payment Term: Equal to Policy term
Minimum Premium: Rs 12,000 per annum (Base), Rs 8,000 per annum (Economy)
What benefits does ING Secure Income Insurance RP offer?
In case of unfortunate death of life insured, Sum Assured along with accrued bonuses will be paid.
For base variant, assured income for next 5 years which is equivalent to 120% of Sum Assured becomes payable.
On maturity, Sum Assured along with accrued bonuses will be paid. Additionally, 10% of Sum Assured will also be payable.
You can opt for the following riders- Accidental death, disability, dismemberment rider, additional life cover and critical illness rider.
After 3 policy years, you can avail loan facility.
Are there any tax benefits?
Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.
Under Section 10(10D) death claim is completely tax free.
What else should I know about?
Surrender Value: The policy acquires guaranteed surrender value after 3 policy years. The final surrender value will be higher of special surrender value or guaranteed surrender value.
Reinstatement: If your policy has lapsed, you can revive within 5 years from the due date of unpaid premium.
Grace period: You can pay due premium within 30 days from renewal date.
Free Look Period: Secure Income Insurance RP plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.
How can I buy ING Secure Income Insurance RP?
Policybazaar representatives will assist you in buying Secure Income Insurance RP