ING Life's new insurance product in UP

Private life insurer ING Life India on Tuesday launched a new product ING ACE in the Uttar Pradesh market. The new plan has two variants — Pension and Life with features as guaranteed additions, limited premium pay and tax benefit under Section 80 C of the Income Tax Act. ING ACE Pension offers guaranteed addition of 8.75 per cent annually throughout the 10-year term of policy. ING ACE Life offers 7.75 per cent annual guarantee additions depending on the premium paid. “Both the plans are beneficial to the customers, as they need to pay the premium only for three years in annual mode,” company’s Executive Vice-President (central and east) Syed Sarfaraz Ahmed said in Lucknow.