ING Life launches Ulip product in UP market

Private life insurer ING Life India today launched ING Market Shield, a new Unit Linked Insurance Plan (Ulip), in the Uttar Pradesh market. It promises benefit from market upswings, but also secures the investment of customers from losses, when the markets are volatile. “The plan provides the customers a guaranteed net asset value throughout the term of the product and not just at maturity,” ING Life India Executive Vice-President (central and east) Syed Sarfaraz Ahmed said. For a premium paying period of five years, the minimum annual premium payable is Rs 48,000 and for 10 years or the entire policy term, the minimum annual premium payable is Rs 36,000. The plan offers premium payment in the annual mode, and customers can choose their desired life cover ranging between 10 and 20 times the annual premium.