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Enjoy your investment when it goes up

Enjoy your investment when it goes up
Enjoy your investment when it goes up

feel

secure when it goes down.

feel secure when it goes down.
feel secure when it goes down.
Presenting one of its kind insurance plans that not only provides life cover but also

Presenting one of its kind insurance plans that not only provides life cover but also balances risk and reward in a transparent manner, and provides you an opportunity to enjoy growth while retaining protection - ING Market Shield Plan - a Unit linked Life Insurance Plan that ensures you never miss an opportunity to maximize your gains and at the same time, limits your losses.

The key and unique benefits of this plan are:

Enjoy better returns with equity participation
Enjoy better returns with
equity participation
Anytime guarantee* for all benefits and not just at maturity
Anytime guarantee* for all
benefits and not just at maturity

* 80% of the Highest Daily NAV

Protect your investments from market downside
Protect your investments
from market downside
Multiple options to customise the plan to your need
Multiple options to customise
the plan to your need
As seen in the graph above, ING Market Shield - a Unit Linked Insurance plan
As seen in the graph above, ING Market Shield - a Unit Linked Insurance plan
As seen in the graph above, ING Market Shield - a Unit Linked Insurance plan

As seen in the graph above, ING Market Shield - a Unit Linked Insurance plan dynamically allocates the investment in risky assets (equity) and safe assets (money market investments) to provide you with growth when markets are stable and protects the achieved growth from when markets are volatile.

Why invest in ING Market Shield, a Unit Linked Insurance Plan? 1. Optimizing upside potential

Why invest in ING Market Shield, a Unit Linked Insurance Plan?

1. Optimizing upside potential due to Equity Participation

This plan provides you with the growth potential that comes from investing in Equity markets. ING Life on every day basis will monitor the equity market development and increase allocation to the equity market (up to a maximum of 60%) when times are good and will reduce (up to 0%) allocation to equities when markets are volatile. This active daily asset allocation ensures that your gains are maximised and at the same time protecting such gains from eroding.

2. Anytime Guarantee - Protection that is available to you at all times and not just at maturity

Not only will this plan invest in equity and bring you the gains from the markets, it will also ensure that gains that are made are locked- in with a minimum 80% assurance. Every time the NAV of the Guaranteed NAV Fund hits a new high, 80% of that NAV per unit is guaranteed (referred as Guaranteed NAV or G-NAV). From there on, irrespective of the volatility in the market you are assured of the G-NAV per unit at all times and not just at maturity. ING will reset this G-NAV on a daily basis and once the G-NAV is set it can go up and never go down.

The below graph explains that in a rising market when the Daily NAV is higher the customer gets the maturity benefits at the Daily NAV.

For example, if the Daily NAV on maturity is at 38 and the G-NAV is 30.4, you are still assured of receiving the maturity benefits at the Daily NAV of 38. ING manages the Guaranteed NAV fund through a dynamic asset allocation process which ensures that your guarantee is available to you at all times and all benefits paid to you are at higher of the prevailing NAV (referred to as Daily NAV) or the last Guaranteed NAV.

and all benefits paid to you are at higher of the prevailing NAV (referred to as
3. Protects your savings from the uncertainties of the market ING Market Shield - a

3. Protects your savings from the uncertainties of the market

ING Market Shield - a Unit Linked Insurance Plan weathers all market

conditions. As long as the markets are going up you will continue

to participate in that growth, but in case the markets fall and the

Daily NAV goes below your last Guaranteed NAV, you do not need

to worry as you are still assured of the value based on the last

Guaranteed NAV.

4. Limited Premium Payment Term

We understand that you need to make a careful commitment when you are planning your investments and therefore this plan comes with a variety of Premium Paying Terms. You can choose to make premium contributions for just 5 years or 10 years while your plan continues for the full duration as selected by you. Alternatively, you can choose to make premium payments throughout the policy term by choosing a regular pay option. We urge you to make a careful decision, as once you make a commitment it is important to keep it,

else you may not reap the desired objective of buying this plan.

you may not reap the desired objective of buying this plan. The above graph explains that
you may not reap the desired objective of buying this plan. The above graph explains that
you may not reap the desired objective of buying this plan. The above graph explains that

The above graph explains that in a falling market if the Daily NAV is lower than the Guaranteed NAV, the customer gets the maturity benefits at the Guaranteed NAV.

For example the Daily NAV is at its highest at 42 and if on the date of maturity the Daily NAV falls to 30, you are still assured of receiving the maturity benefits at the G-NAV of 33.60 which is 80% of the highest NAV of the Fund.

Enjoy better returns with equity participation; Secure your investments throughout the term and not just
Enjoy better returns with equity participation; Secure your investments throughout the term and not just

Enjoy better returns with equity participation; Secure your investments throughout the term and not just on maturity.

Other Key Benefits: 1. Death Benefit In case of unfortunate demise of the Life Assured

Other Key Benefits:

1. Death Benefit

In case of unfortunate demise of the Life Assured during the

policy term, the nominee shall receive higher of the Sum Assured

or 105% of the premiums paid, including Top-up premiums (if any),

(reduced by partial withdrawals if any made during the 2 years

immediately preceding the date of death) or Special Fund Value and

the policy shall stand terminated.

Even in this the case of death, the nominee will get the benefit of

guarantee as the Special Fund Value will be calculated based on the

higher of the Daily NAV or the G-NAV.

Note: The Sum Assured is the Basic Sum Assured and the Additional

Sum Assured on Top-up premium (if any).

2. Maturity Benefit

On the Maturity Date you will receive the Special Fund Value as a

lumpsum.

The Special Fund Value would be calculated based on the higher of

the Daily NAV or the G-NAV.

3. Option to add Top-ups

At any point of time if you wish to increase your contribution, you

can pay Top-up premiums to invest in the same policy, subject to the

following conditions:

The minimum Top-up amount is ` 5,000 and the maximum is

` 8 lacs.

Every Top-up premium shall have an Additional Sum Assured which will be 1.25 times of the Top-up premium paid. This Additional Sum Assured on Top-up will be in addition to the Basic Sum Assured.

Top-ups will not be allowed during the last 5 years of the policy term.

No Top-up premiums will be accepted where regular premiums are due, even during the grace period.

Top-up premium cannot be withdrawn in a period of five years from the date of receipt of the respective Top-up premium.

The maximum amount of Top-up premiums allowable shall be subject to applicable underwriting guidelines.

The applicable G-NAV on Top-up Premium shall be the G-NAV

declared from the date following premium(s).

the date of receipt of Top-up

4.

Liquidity in the form of Partial Withdrawal Benefit

In case of any interim financial goal or emergencies you are offered the liquidity to withdraw from your fund at any point of time after completion of 5 Policy Years. The Partial Withdrawals are subject to the following conditions:

Partial Withdrawal is available for a minimum amount of

` 5,000 and a maximum amount equal to 25% of balance in the Special Fund Value, subject to Special Fund Value after each such withdrawal not being less than 1.5 times the one full years’ annual regular/limited premium.

• Unlimited number of partial withdrawals can be availed during the policy term. • The

Unlimited number of partial withdrawals can be availed during the policy term.

The policyholder will be allowed to make any Partial Withdrawals from the Top-up contributions only after completion of 5 years from the date of remittance/realization of Top-up contribution.

Partial Withdrawals are calculated by cancellation of appropriate number of units on the higher of the Daily NAV or the G-NAV.

Partial withdrawal Benefits are not allowed during the minority of the Life Assured.

The Partial Withdrawals made during the 24 months preceding the date of death, shall be reduced from the Death Benefit payable under the policy.

5.

Surrender Benefit

The importance of availability of cash in some emergencies cannot be denied, therefore, we provide you with a facility to surrender the policy during the policy term. In case the policy is surrendered during the initial 5 years from the Policy Commencement, the Surrender Benefits shall be payable to the policyholder only after completion of 5 full policy years. On surrender after 5 years, the Special Fund Value is paid immediately and the policy is terminated. The Surrender Value would be calculated on the higher of the Daily NAV or the G-NAV. For details please refer to Clause 7 of the Terms and Conditions on policy

discontinuance provisions mentioned herein.

How does the Plan Work?

1. Choose the premium amount that you wish to invest in the plan

every year which shall determine the Sum Assured under the policy.

2. Decide the Premium Paying Term of your policy.

3. Your premium after deduction of the Premium Allocation Charge

will be invested in the Guaranteed NAV Fund at the applicable

Daily NAV.

4. Mortality and Policy Administration Charges will be deducted on

a monthly basis by cancellation of units.

5. In the unfortunate event of death of the Life Assured during the

term of the policy, the nominee shall receive the Death Benefit.

6. At maturity, the Special Fund Value will be paid to the policyholder

as a lumpsum.

Note: The objective of a life insurance is long-term financial security.

In case you fail to pay your due premiums on time or during grace

period, you shall be given a period of 45 days from the end of grace

period to restore the policy in accordance with the IRDA regulations,

failing which the policy shall stand terminated. Therefore we urge you

to pay your premiums on time to achieve your long-term objectives

for taking this policy.

How does the Guaranteed NAV (G-NAV) Fund work?

The G-NAV Fund aims to provide the policyholders the protection

of 80% of the highest NAV achieved during the life of the policy.

A dynamic asset allocation process is used to allocate the funds

exposure between Risky Assets (Equities) and Risk Free Assets (Money

Market Instruments and Cash). In general.

• In good market conditions the G-NAV Fund exposure to equities will increase. • In

In good market conditions the G-NAV Fund exposure to equities will increase.

In bad market conditions the G-NAV Fund will increase its exposure to Money Market Instruments and Cash and reduce the exposure to equities until the markets improve.

The G-NAV Fund allows the investor to capture the upsides from rising markets while limiting potential losses in falling markets.

In case of exceptional circumstances, the equity exposure of the Fund may fall to zero, in which period we will not charge any Guarantee Charge.

Asset Class

Investment Pattern

Objective

Risk Classification

Equity

0% - 60%

Provides for

 

balanced

   

growth and

Medium

Money Market & Cash

40% - 100%

protection.

Eligibility Criteria

Age at Entry

Min 8 years - Max 55 years

Age at Maturity

Min 23 years - Max 70 years

Policy Term

15

to 20 years

Premium Paying Term

Limited Pay (5, 10 years) or Regular Pay (equal to Policy Term)

Premium Payment Modes

 

Annual

Minimum Premium

For Limited Pay (5 years) the minimum yearly premium is

 

` 48,000

 

For Limited Pay (10 years) or Regular Pay : ` 36,000

Maximum Premium

 

No Limit

Top-up Premium

Minimum of ` 5,000, Maximum of ` 800,000

Basic Sum Assured

10

to 20 times the Annual Premium

Additional Sum Assured

Fixed at 1.25 times of the Top-up premium paid (if any)

Protect your investments from market downside.

Protect your investments from market downside.

Charges: Premium Allocation Charge: Premium Allocation Charge is a percentage of the premium appropriated towards

Charges:

Premium Allocation Charge:

Premium Allocation Charge is a percentage of the premium

appropriated towards charges from the premium received and is

charged at the time of receipt of the premium. The Company charges

the Premium Allocation Charges, at the following rates:

Regular / Limited Premium

Charges as a percentage of Annual Premium

1st Year

9%

2nd & 3rd Year

3%

4th Year onwards

Nil

Top-up premium

2%

Policy Admin Charge:

Year

Charges as a percentage of Annual Premium

1st Year

Nil

2nd – 5th Year

0.50% per month

6th – 10th Year

0.40% per month

11th Year onwards

0.20% per month

The Maximum Policy Administration Charge is capped at ` 500 per month. These Policy Adminstration Charges are guaranteed & would be deducted at the beginning of each policy month by way of cancellation of units at the Daily NAV from the G-NAV Fund.

Partial Withdrawal Charge:

There are no charges for Partial Withdrawals.

Policy Discontinuation Charge:

Policy Discontinuance Year

Policy Discontinuance Charges

 

Lower of 6% of (AP* or FV*) subject to

1

max ` 6000

2

Lower of 4% of (AP* or FV*) subject to max ` 5000

3

Lower of 3% of (AP* or FV*) subject to max ` 4000

 

Lower of 2% of (AP* or FV*) subject to

4

max ` 2000

5 and onwards

NIL

*AP: Annual Premium

FV: Fund Value

The Fund Value for the purpose of policy discontinuance charges

means the amount represented by the number of Units held by the

policyholder in the G-NAV Fund multiplied by the Daily NAV.

Mortality Charges:

Mortality Charges will be deducted monthly in advance at the Daily

NAV from the Fund Value. Charges are based on age and gender.

Sample Mortality Charges (in Rupees) per annum per 1000 of Sum at

Risk for a healthy male & female life is shown below:

Age (years)

20

30

40

50

60

Male

1.08

1.26

2.21

5.66

14.12

Female

0.94

1.25

1.72

4.13

11.11

Fund Management Charge: Fund Management Charge is a charge levied on a daily basis as

Fund Management Charge:

Fund Management Charge is a charge levied on a daily basis as a

percentage of the value of assets held in the Guaranteed NAV Fund

at the time of computation of the Unit Price. The Fund Management

Charges applicable, at present, are as follows:

Fund Name

% of Fund Value (per annum)

Guaranteed NAV Fund

1.10%

The Company reserves the right to change the Fund Management

Charge, with the approval of the Regulatory Authority, provided

however, that the Fund Management Charges shall not exceed the

cap on Fund Management Charges as determined by the Regulatory

Authority from time to time.

Guarantee Charge:

Guarantee Charge is a charge levied on a daily basis as a percentage

of the value of assets held in the Guaranteed NAV Fund at the time

of computation of the Unit Price. The Guarantee Charge applicable,

at present, is as follows:

Fund Name

% of Fund Value (per annum)

Guaranteed NAV Fund

0.50%

In exceptional circumstances, the equity exposure in the Fund may fall to zero, during which period no Guarantee Charge shall be levied.

Terms & Conditions:

We would suggest you to read the following Terms & Conditions

before purchasing the policy:

1. Free Look Period: In case you disagree with any of the terms

and conditions of the policy, you have the option of cancelling

the policy by writing to the Company stating the reasons for

cancellation and return of the original policy document to the

Company within 15 days of the date of receipt of the policy

Document. In case of such cancellation, the premiums you have

paid will be refunded after adjusting for movement in unit prices

at the higher of the Daily NAV or the G-NAV and deducting the

medical examination fees, stamp-duty and proportional charges

towards risk cover (if any).

2. Uniform Payment of Regular Premiums: Once the premium

amount has been opted by the policyholder it cannot be changed/

revised during the policy term.

3. Beneficiaries: If the policyholder has not assigned the policy,

then he/she shall get the benefits due on the date of maturity. In

the event of Life Assured’s unfortunate demise, the nominee or

the eligible person will receive the benefits due.

4. Coverage Exclusions:

Suicide: No death benefit shall be paid if the death has occurred

directly or indirectly as a result of suicide committed by the Life

Assured within one year from the Date of Risk Commencement

or within one year from the date of Reinstatement of risk cover under this policy.

or within one year from the date of Reinstatement of risk cover under this policy. The policy shall be treated as null and void and the benefits under the policy shall be restricted to payment of balance in Special Fund Value (at the higher of the Daily NAV or the G-NAV) as on the death of the Life Assured to the eligible person.

Rider Coverage – There is no rider allowed under this plan.

5. Grace Period: There is a grace period of 30 days allowed for payment of the due premium. If the premium due is not received within the Grace Period, the Company shall send a notice within a period of fifteen days from the date of expiry of Grace Period requesting the policyholder to exercise one of the following options:

a) Revival of the policy, or

b) Discontinue the policy without any life cover

The policyholder shall have a period of 30 days from the receipt of the aforementioned notice to exercise one of the above options. In case the policyholder fails to exercise any of the aforementioned option is within the specified time period of 30 days, it shall be deemed that the policyholder has opted for option b (i.e. Discontinue the policy without any life cover).Till the completion of the 30 days as referred above, the policy is deemed to be in force with life cover as per the terms and conditions of the policy.

premiums before completion of 30 days as referred above, the policy shall stand Discontinued without any life cover.

7. Policy Discontinuance Provisions: In case of Discontinued Policy, the following process will be applicable:

a)

For policies surrendered/discontinued before completion of first 5 policy years:

I.

The Special Fund Value after deducting Discontinuation Charges shall be deposited in Discontinued Policy Fund and shall be paid to the policyholder after completion of full 5 policy years.

II.

This amount in Discontinued Policy Fund shall carry an interest of minimum 3.5% per annum compounded yearly or such other rate prescribed by IRDA.

III.

In the event of death of the Life Assured before completion of full 5 years and during Discontinued Policy, his/her balance in the Discontinued Policy Fund will be paid to the Eligible Person.

b)

For policies surrendered/discontinued after completion of first 5 policy years:

I.

The Special Fund Value as on the date of discontinuation shall be paid to the policyholder.

Note:

The Special Fund Value will be calculated at the higher of the

Daily NAV or the G-NAV.

8. Tax Benefit Provision (based on in force tax laws): Policyholder will be eligible for

8.

Tax Benefit Provision (based on in force tax laws):

Policyholder will be eligible for tax benefits under section 80C and section 10(10D) of the Income Tax Act, 1961, subject to the provisions contained therein.

Under section 80C, you can save up to ` 30,900 from your tax

each year (assumed at the highest tax bracket) as premiums up to

`

100,000 are allowed as deduction from your taxable income.

Under section 10(10D), the benefits you receive from this policy are exempt from tax.

The aforesaid tax benefits are subject to change in tax laws. We therefore urge you to carefully analyze the tax benefits/tax implications, if any, that may arise on investing in this policy.

Other Tax Implications: If required by the Act, the Company may withhold taxes from the benefits payable under this Policy. The Company also reserves the right to recover from the policyholder levies such as Service Tax or such other taxes as may be levied by the appropriate Authorities on insurance transactions by cancellation of units or from the unit fund.

9.

Unit Price Calculation: Unit Price means the price of the Units of each Unit Linked Fund arrived at by dividing the Net Asset Value per unit of the Unit Linked Fund by the total number of outstanding units in the Unit Linked Fund.

The term NAV in this document refers to the Unit Price.

Guaranteed NAV (G-NAV)

Guaranteed NAV or G-NAV means the Unit Price equivalent to 80% of the highest achieved Daily NAV per unit of the Guaranteed NAV Fund and is reset on a daily basis on all working days.

The following hypothetical example explains the G-NAV and the Daily NAV and the G-NAV at all times is 80% of the highest achieved NAV of the Fund.

Period

Day 1

Day 2

Day 3

Day 4

Day 5

Daily NAV

10

9.7

9.5

9.2

10.4

Guaranteed

         

NAV

8.0

8.0

8.0

8.0

8.3

Net Asset Value of a Unit Linked Fund shall be calculated as follows:

When the Unit Linked Fund is a net purchaser of assets; the NAV shall be computed as: Market value of investment held by the fund plus the expenses incurred in the purchase of the assets plus the value of any current assets plus any accrued income net of fund management charges less the value of any current liabilities and provisions, if any.

When the Unit Linked Fund is a net seller of assets; the NAV shall be computed as: Market value of investment held by the fund less the expenses incurred in the sale of the assets plus the value of any current assets plus any accrued income net of fund

management charges less the value of any current liabilities and provisions, if any. The unit

management charges less the value of any current liabilities and provisions, if any.

The unit price for each business day to be declared / recorded at the end of each business day. The unit price shall be computed to four decimal points. The unit price of the units declared by the Company is net of fund management charges.

The value of the benefits payable in respect of a claim, requests for switch / redirection / surrender / partial withdrawal received before 3 P.M. on any business day will depend on the number of units and the Unit Price of the respective funds as on such date. Any claim intimation, requests for switch/redirection/surrender/ partial withdrawal received after 3 P.M. on any business day will be processed based on the unit price declared on the immediately following business day.

In respect of premiums (other than premiums paid by ECS, Standing Instructions or Auto Debit) received before 3 P.M. on any business day, the unit price as on the date of receipt of such premium shall be applicable and premiums received after 3 P.M. on any business day will be processed based on the unit price declared on the immediately following business day. In respect of premiums paid by ECS, Standing Instructions or Auto Debit, the unit price as on the date of realisation shall be applicable.

10.

Policy Loan There is no loan facility available in this policy.

 

11.

Risk Factors:

ING Market Shield

a

Unit

Linked

Insurance

Plan

is

a

non-participating Unit Linked Life Insurance Product (ULIP).

ULIP plans are different from the traditional insurance products and are subject to risk factors.

ING Vysya Life Insurance Company Limited is only the name of the Insurance Company and ING Market Shield Plan is only the name of the ULIP contract and does not in any way indicate the quality of the contract, its future prospects or returns.

The names of the Unit Linked Fund do not in any manner indicate the quality of the Unit Linked Fund or their future prospects or returns.

Investments in ULIPs are subject to market and other risks and there can be no assurance that the objectives of the Unit Linked Funds in the ULIP will be achieved.

The premiums paid in ULIP policies are subject to investment risks associated with capital markets and the unit price of the units may go up or down based on performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.

Under exceptional circumstances the fund manager may decide to invest entirely (100%) in money market instruments to protect the gains under Guaranteed NAV Fund.

Past performance of the Unit Linked Fund and other funds of the Company is not indicative of future performance of any of these funds.

The ULIP does not offer a guaranteed return other than what is specifically assured under this product and investment risk is borne by the policyholder.

• The premiums and funds are subject to certain charges related to the fund or

The premiums and funds are subject to certain charges related to the fund or to the premiums paid.

Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document of the insurer.

The purpose of this Brochure is only to provide a general overview about this policy. The information herein is indicative

of the terms, conditions, warranties and exceptions contained in the policy terms and conditions of ING Market Shield - a Unit Linked Insurance Plan. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding

a sale.

In the event of any inconsistency/ambiguity between the terms contained herein and the policy terms and conditions, the policy terms and conditions shall prevail.

12. Section 41 - Prohibition of Rebate:

Under the provisions of Section 41 of the Insurance Act, 1938:

1 No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to

lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing

a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

2 Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred rupees.

Section 45 – Non Disclosure

Under the provisions of section 45 of the Insurance Act, 1938, the Company is entitled to repudiate the policy on the ground that a statement made in the proposal or in any report of a medical officer or referee or friend of the insured or any other document leading to the issue of the policy was inaccurate or false, before the expiry of 2 years from the effective date of the policy, and thereafter that if such false or inaccurate statement was related to a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or material to disclose.

For more details:

Contact -

For more details: Contact - To know more about this product, please contact our nearest Branch
For more details: Contact - To know more about this product, please contact our nearest Branch

To know more about this product, please contact our nearest Branch Office. Or call us at 1-800-419-8228 or SMS ING to 53636 or visit www.inglife.co.in Insurance is the subject matter of solicitation.

or visit www.inglife.co.in Insurance is the subject matter of solicitation. UIN: 114L056V01 URN: ILI/Coll/2010/513