PROJECT ON ULIP

St. Xavier’s College, Ranchi

Presented by:
Subrato Banerjee
Roll No – 1154
 COMPANY`S PROFILE
 Kshitij Jain is the Managing Director & Chief Executive
Officer of ING Life Insurance Company.

 The company started operations in India in September

2001.

 ING Life Insurance Company is a joint venture between

ING Insurance International B.V. (26%), Exide
Industries (50%) and other share holders like Ambuja
Cements Limited and Enam Group, together holding a
total of 24%.
 UNIT LINKED INSURANCE PLAN
(ULIP)
ULIPs- Systematic Insurance cum Investment
Plan

The Unit trust of India has ULIPs plan. In this

Plan small part of contribution was utilized
for providing life cover and balance was
invested in Units. In the case person dies
before the end of the plan period the legal
hires would be entitled to the units to his
credit or the amount of insurance which
ever is higher.
 Features Of Ulip
Flexibility

Goal
FEATURES Transpare
Based OF ULIP ncy
Savings

Tax
Benefits
 DIFFERENT CHARGES IN ULIP
Fund
Rider Premium
Management
Charges
Charges

Premium
Surrender
Allocation Mortality Charges
Charges
Charges

Policy
Switching Partial Withdrawal
Administration
Charges Charges Charges
 WHEN ULIP WORK BEST?

Choosing an appropriate sum assured.

Choosing the right fund option.

Staying with ULIPs for long term.

Understanding the charge structure.

 IRDA GUIDELINES
Death benefit to be guaranteed.
No risks cover after policy term.
Opportunity to be given to revive lapsed policy
Auto cover facility allowed for full SA for limited
period.
No auto cover facility if at least 3 premiums not
paid.
Surrender benefit only after 5th policy anniversary
 TWO PLANS OF ULIP:-

ING Market Shield

ING Prospering Life Plan

 ING MARKET SHIELD
Benefits you get from ING Market Shield
Plan

 Death Benefit

 Maturity Benefit

 Income Tax Benefit

 Key Features of ING Market Shield
Plan

 Highest NAV is guaranteed throughout the policy term

and not just at maturity.

 Limited Premium paying term available.

 ING PROSPERING LIFE
Benefits you get from ING Prospering Life

 Switching

 Partial Withdrawal

 Investment Fund Options

 Key Features of ING Prospering
Life
 Automatic Asset Allocation Strategy – Customer can
choose a pre-defined ING strategy which will allocate
funds between debt and equity by itself, eliminating
the hassle of constant monitoring by the customer.

 Unlimited free switches and redirections.

 Monthly payment mode also available.

THANK YOU