The new ULIP comes with a host of customer benefits, including 5 fund options to choose from, Automatic Asset allocation and unlimited switches with partial withdrawls free of chrage, T K Uthappa, Director- Sales ING Life Insurance told reporters here.
The product offers an annualised premium ranging between rs 48,000 and rs 96,000 and is competitively priced against other long term investment options, he said. The sum assured is an amount 10 times the annual premium at inception for those below the age of 45 and 7 times the annual premium at inception for those above the age of 45.
The minimum top up premium is rs 5000. During April-September last year, the company sold 1.37 lakh policies while it was only 1.12 lakh policies during the same period this year. Admitting an industry 'degrwoth', he hoped that by march 2011 they would succeed in improving on this by at least 50 per cent.
Kerala accounts for only 5 per cent of its business of 60 per cent from South India. The company was looking at at 20-25 per cent growth in business from south India and 15 per cent from Kerala thsi fiscal, he said.
(ET)
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