ING Life today launched a unit-linked investment solution, ING Flexi Life Plus, which offers flexibility in premium payments as well as the convenience to change premium amount during the term.
ING Flexi Life Plus has the new charging structure proposed by the Insurance Regulatory Development Authority (Irda), passing the benefits to the customer by making it better value for money. Additionally, the product offers flexibility to change the premium amount, as per the revised guidelines of the regulator.
“This product allows our customers a lot of convenience and flexibility to suit their financial needs. Importantly, it is a pioneering product, as it is one of the first products under the new charging structure,” said ING Life chief distribution officer Rahul Agarwal.
In the life insurance venture -ING Insurance International holds 26 per cent stake, Exide Industries- 50 per cent stake, Ambuja Cements - 11.5 per cent and Enam Group - 12.5 per cent.
The foreign partner will sell its stake in the life insurance business by 2013 as a part of its ongoing Back to Basics programme exercise by moving towards complete separation of its banking and life insurance operations.
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