Your retirement years allow you to leisurely enjoy everything you always aspired for. That’s why we call them the Golden Years of your life. You need to plan well so that you don’t just retire, you retire well.
What is ING Golden Years Retirement Plan..?
ING Golden Years Retirement Plan is a unique plan that helps you make your retirement years the golden years of your life by offering a host of
Growth with minimum guarantee..!
Your Individual Pension Account (IPA) grows at an interest rate declared every year. It is determined subject to the performance of the fund.
However, the minimum interest rate on your IPA is 5 % per year for first five policy years and 1.5 % per year for rest of the policy term. The interest once added in IPA is guaranteed to be paid.
Flexibility..!:
This plan offers multiple flexibilities to help you plan your retirement as per your convenience.
Top-Up Premium:
In addition to the regular premium, you can pay an additional amount during the policy term (subject to product terms and conditions) to ensure your retirement fund grows faster.
Premium Payment Options :
Choosing from Regular, Limited or Single Payment options.
You can choose to pay your premium either monthly or annually.
You can decrease or increase the premium payment term by keeping the premium amount same.
Postponement of retirement age:
You may postpone your retirement age (subject to product terms and conditions) depending upon change in your retirement planning.
Regular and Disciplined Savings:
A disciplined saving method (starting with as little as Rs. 2,000 per month) goes a long way in building the desirable retirement corpus.
Guaranteed Vesting Benefit:
On completion of vesting term, you receive higher of the two below
Gross premiums including top - up premiums compounded at 1 % p.a., or
Individual pension account (IPA) value.
You may take up to 1 / 3rd of the maturity amount tax free in cash & use the balance to purchase annuity from ING Life Insurance to ensure a monthly income for your life time.
Loyalty Benefit:
All premium allocation charges deducted are refunded to your pension account on reaching the retirement age. This is applicable once you have made a total premium payment of Rs. 4,80,000 (does not include top-up premiums).
Life Cover..!
In case of demise of the policy holder, higher of following is paid to the nominee:
105 % of gross premiums & Top Up premiums (excluding service tax)
Gross premium & Top Up premiums compounded at 1 % p.a. (excluding service tax)
Individual Pension Account (IPA) Value.
Tax Savings.!:
All the premiums paid are tax free under section 80C.
Minimum / Maximum Age at Entry 18 years – 65 years
Minimum / Maximum Vesting Age 45 Years - 75 years
Vesting Term / Premium Paying Term
Premium Payment Term Vesting Term Allowed
Single Pay 10-42 years
Limited Pay: 5 – 9 years 10 years
Limited Pay (10-41 Years) and Regular Pay 15 - 42 years
Minimum Premium for Limited Pay / Regular Pay Premium
Payment Term Minimum Annual Premium Minimum Monthly Premium
5 – 9 years Rs. 48,000 Rs. 4,000
10 - 42 years Rs. 24,000 Rs. 2,000
Minimum Single Premium Rs. 2,40,000
Premium Payment Frequency Annual and Monthly modes available
Annuity Options Guaranteed for Life
Premium Allocation Charge
Regular Premiums Policy Year
Allocation Charges as a % of Annual Premium
Annual Mode Monthly Mode
Allocation Charges as a % of Single Premium
1 9% 6% 3%
2-5 2.5% 2 NIL
6th Onwards 2% 2% NIL
Policy Admin Charge:
Policy Year
Charges as a % of Annual/Single Premium
Regular Pay PPT / Limited PPT Single PayPPT
1 NIL NIL
2-5 4% 2.2%
6th onwards 4% 0%
Annual Management Fee
The Annual Management fee is 1.35 % p.a. and is charged as percentage of the pension account value.
Contact
Registered & Corporate Office
'ING Vysya House', 5th Floor
22, M.G. Road, Bangalore - 560 001
Phone : 91-80-2532 8000
Fax : 91-80-2555 9764
National Operations Office
No 690, 1st floor, Gold Hill Square, Begur Hobli,
Hosur Road. Bangalore – 560068
Phone : 91-80-41345134, Fax : 080-41100707
Call / Fax
Toll free No:1-800-419-8228
Mobile No: +91-9880888228
Landline No: 080-41345444
Fax : 080-41100700
Operational Hours:
9 AM to 9 PM (Monday to Friday)
9 AM to 6 PM (Weekends and Holidays)
SMS
SMS 'ING' to 5676770
For Policy Taken Contact..!
Mr. Rajendran, Insurance Advisor,
Cell: 98406 82679
57, Bajanai Kovil Street,
Kannadapalayam, West Tambaram,
Chennai - 600 045
Landline: 044 - 2226 7785
Email id: geeaarr@gmail.com
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