Ing vysya life insurance

INDEX
ING VYSYA LIFE INSURANCE
SERIAL NO. TOPICS PAGE NO.
CHAPTER
I
INTRODUCTION
 NEED FOR LIFE INSURANCE.
 MANAGEMENT TEAM.
 PARTNERS.
1-11
CHAPTER
II
PLANS
 PROTECTION.
 SAVINGS.
 INVESTMENT.
 RETIREMENTS.
12-34
CHAPTER
III
RIDERS. 35-38
CHAPTER
IV
EMPLOYEE BENEFITS.
 GROUP GRATUITY
 GROUP SUPERANNUATION
39-50
CHAPTER
V
FAQ,S 50-65
CHAPTER
VI
SURVEY 66-67
CHAPTER
VII QUESTION,S ASKED TO SALES MANAGER 68
CHAPTER
VIII CONCLUSION 69
CHAPTER
IX METHODOLOGY 70
CHAPTER
X BIBLOGRAPHY 71
T.Y.B.B.I (SEM-VI) 1

ING Vysya Life in India - An Overview
ING Vysya Life Insurance Company Private Limited (the Company) entered the
private life insurance industry in India in September 2001, and in a span of 5 years
has established itself as a distinctive life insurance brand with an innovative,
attractive and customer friendly product portfolio and a professional advisor sales
force.
It has a dedicated and committed advisor sales force of over 21,000 people,
working from 140 branches located in 74 major cities across the country and over
3,000 employees. It also distributes products in close cooperation with the ING
Vysya Bank network. The Company has a customer base of over 4,50,000 & is
headquartered at Bangalore. In 2005, ING Vysya Life earned a total income in
excess of Rs. 400 crore and also has a share capital of Rs. 440 crore.
The Company aims to make customers look at life insurance afresh, not just as a
tax saving device but as a means to add protection to life. The one thing we hold in
highest esteem is 'life' itself. We believe in enhancing the very quality of life, in
addition to safeguarding an individual's security. Our core values are therefore
defined as Professional, Entrepreneurial, Trustworthy, Approachable and Caring.
The Company’s portfolio offers products that cater to every financial requirement,
at any life stage. We believe in continuously developing customer-driven products
and services and value being accessible and responsive to the needs of our
customers.

In fact, the company has developed the LifeMaker. A simple method which can be
used to choose a plan most suitable to a specific customer based on his needs,
Requirements and current life stage. This tool helps you build a complete financial
plan for life, whether the requirement is Protection, Savings or Investment,
Retirement.

 Protection
First, life insurance helps you to protect your income and your family’s
financial future in case you are not around.
 Saving
Second, life insurance works as a long term saving, thus giving you the
financial strength to achieve your life goals. It also gives you tax benefits.
 Retirement
Third, life insurance makes sure that you have regular income after you
retire and also helps you maintain your standard of living.

 Investment
Final, life insurance is a safe, long-term investment, free from the risk of
market swings. At the end of the term, you or your family can enjoy added
returns on investment.
Why Do I Need Life Insurance?
That’s a common question. Why would you need Insurance? Simply put, Life
brings with it many surprises, some pleasant and some not so and a Life Insurance
Plan ensures that you are better prepared to face uncertainties. How? In a number
of ways:
Protection
You need life insurance to be there and protect the people you love, making sure
that your family has a means to look after itself after you are gone. It is a
thoughtful business concept designed to protect the economic value of a human life
for the benefit of those financially dependent on him. That’s a good reason
.
Supposing you suffer an injury that keeps you from earning? Would you like to be
a financial burden on your family, already losing out on your salary? With a life
insurance policy, you are protected. Your family is protected.
Retirement

Life insurance makes sure that you have regular income after you retire and also
helps you maintain your standard of living. It can ensure that your post-retirement
years are spent in peace and comfort.
Savings and Investments
Insurance is a means to Save and Invest. Your periodic premiums are like Savings
and you are assured of a lump sum amount on maturity. A policy can come in
really handy at the time of your child’s education or marriage! Besides, it can be
used as supplemental retirement income!
Tax Benefits
Life insurance is one of the best tax saving options today. Your tax can be saved
twice on a life insurance policy-once when you pay your premiums and once when
you receive maturity benefits. Money saved is money earned!

Management Team
Board of Directors (as on March 14th, 2006)
Mr. Rajan Raheja: Chairman.
Mr. Kshitij Jain : Managing Director & Chief Executive Officer.
Mr. Peter Alexander Smyth: Director.
Mr. N.N. Joshi: Director.
Mr. Jayesh Doshi: Director.
Mr. Satish Raheja: Director.
Mr. Rajesh Kapadia: Director.
Mr. S.B. Ganguly: Director.
Senior Management Team
Kshitij Jain : MD & CEO.
David Briscombe : Chief Finance Officer.
K R Subramanian : Chief Operating Officer.

David Hatton : Director, Employee Benefits and Pensions.
Priya Gopalakrishnan : VP and Head of Human Resources.
Ramesh Dasary : Strategic HR Initiatives.
T K Uthappa : Head of Tied Agency.
R Vishnu Kumar : Sales Controller.
CEO Speak
At ING Vysya Life Insurance, in a span of 5 years of operations, we have established ourselves
as a distinctive life insurance brand in India. With an innovative, attractive and customer friendly
product portfolio backed by a professional advisor force, we are proudly serving over 4,50,000
customers today.
We are a part of the ING Group, the world's largest financial institution*, trusted by 60 million
people across 50 countries, with a heritage of over 150 years.
Our cornerstone is the trust that you've invested in us. We've always designed products with your
needs in mind and a communication model that speaks to you.

Our website reflects our openness & dynamism. We speak a language that you will understand,
and not complicated jargon. What we tell you, we hope, will make it easier for you to choose
from our product portfolio, the policy that suits you best. For instance, we have developed a
dynamic new touch point between you and us -the LifeMaker
The LifeMaker is a complete financial planning tool. It takes in basic information from you and
offers you the policy that is best suited to your needs. In an interactive way, it gives you results
that are customized to you and empowers you to choose for yourself what is best for your
requirements.
It is our endeavor to serve you better & develop a greater understanding of your needs. And our
website is a step in the direction.
So please go ahead and explore our site.
Celebrate Life!
Kshitij Jain
MD & CEO,
ING Vysya Life Insurance Co Pvt Ltd.
Bangalore, INDIA.

Partners
A glance at our equity partners:
• ING Group
• Exide Industries Limited
• Gujarat Ambuja Cements Limited
• Enam Group
ING Group
ING Group is known for its philosophy of ‘keeping it simple’. This thought is the
result of ING Group’s 150 years of understanding of customers’ needs and
fulfilling them.
ING is a global financial institution of Dutch origin. It has 150 years of experience,
and provides a wide array of banking, insurance and asset management services in
over 50 countries and is trusted by over 60 million customers. Its 1,13,000
employees work daily to satisfy a broad customer base – individuals, families,
small businesses , large corporations, institutions and governments. The ING
Group has gone from strength to strength year after year and is the world's 13th

largest company*. The ING Group is the world's largest financial institution* with
over US $ 1 trillion# in assets and profits of US $ 8.5 billion in 2005#.
Over the last 150 years, ING Group has grown to become the largest insurer in the
world*. Today it touches the lives of millions of people across 50 countries.
ING Group has wide and deep experience in setting up companies in new markets,
which require substantial investments underlining ING's long-term commitment. In
the last 20 years, ING Group has established successful life insurance companies in
15 countries contributing to the development of insurance services in these
countries successfully.
Exide Industries Limited
With eight manufacturing plants strategically located across the country, Exide is
India’s largest producer of automotive and industrial batteries. Its range of
products covers everything from the smallest batteries required in motorcycles to
the giant batteries powering submarines.
For the fiscal year 2004-05, the company registered a sales turnover of Rs. 1,482
crores and a net profit of Rs. 77 crores. Boasting an uninterrupted dividend
payment track record of 58 years, the company has a global presence through its
subsidiaries in Singapore, Sri Lanka and the United Kingdom.

It is the market leader in the organised sector in both the automotive and industrial
segments. 'EXIDE' and ‘SF (Standard Furukawa)', the flagship brands of the
Company, are also the leading battery brands in the country.
Gujarat Ambuja Cements Limited
Gujarat Ambuja Cements Ltd. is the fastest growing cement company in India and
considered one of the most reputed companies in India. GACL’s brand “Ambuja
Cement” is considered a premium brand in the Indian market. Apart from domestic
sales, Ambuja Cement is also the largest seller of Indian cement in countries
including Sri Lanka, Dubai and Kuwait.
Its plants are some of the most efficient in the world, with environment protection
measures that are on par with the finest in the developed world. It is the most
profitable cement company in India, and the lowest cost producer of cement in the
world.
Enam Group
Enam Group is one of India’s leading financial service providers reputed for its
ability to perceive the true potential of businesses and enhance their value. The
culture at Enam Group is deeply rooted in ethics, innovation etc.
About ING Vysya

ING Vysya (a group terminology) has 3 businesses in India, ING Vysya Life
Insurance, ING Vysya Bank and ING Vysya Mutual Fund. ING Vysya Bank is a
premier private sector bank with a 70-year heritage and 1.5 million satisfied
customers. ING Vysya Mutual Fund is a mid sized asset management company
with a retail investor focus.
PROTECTION PLANS
Conquering Life Critical Illness Plan
What can this plan do for me?
The Conquering Life Plan is a comprehensive critical illness cover that helps bear
the financial burden of a critical illness. This is a unique health insurance benefit
that helps you to protect yourself and your family against health and lifestyle risks.
The Conquering Life Plan is ideal because it provides protection to you and
safeguards your family's lifestyle through an easily affordable, pure risk life cover.
And more importantly, it covers you against ten life- threatening critical illnesses-

Cancer, Heart Attack, Coronary Artery Bypass Graft, Stroke, Kidney Failure,
Major Organ Transplant, Brain Tumor, Paralysis, Coma and Blindness.
Key Features
1. Complete Protection Against 10 Critical Illnesses And Death
2. Money When You Need it Most (Critical Illness Claims Paid on Diagnosis)
3. Free Life Cover After a Critical Illness Claim
Benefits
Illness Benefits
· A critical illness cover of up to 50% of the sum assured is paid to you in the event
of a confirmed diagnosis of any one of the critical illnesses covered. This sum can
be up to a maximum of Rs. 20 lakhs.
· The critical illness cover is only valid for the first critical illness suffered and not
any that follow.
· In the event of critical illness, the remaining premium payments for the period of
the policy will be waived.
Death Benefits
. Your family will get the total sum assured, or

· Your family will receive the difference between the total sum assured and the
Critical illness claim paid, if any.
Additional Benefits
Rider Benefits
Increase your coverage at a nominal extra cost by opting for any of our riders
Term Rider, Accidental Death Rider, Accidental Death, Disability &
Dismemberment Rider.
Tax Benefits
Tax benefits under Section 88 and Section 10 (10D) are available on all our life
insurance plans and riders.
Look-in Period
This is a 15-day period for you to go through the terms and conditions and decide
upon taking or canceling the policy.
Product Features
Eligibility
Minimum age for application: 18 years
Maximum age for application: 50 years
Maximum age up to which premium can be paid: 65 years

Premium Payment Term
Choose premium paying terms of 10-25 years
Coverage Term
Same as the Premium Payment Term
Premium Payment Options
Annual, half-yearly or quarterly
Minimum Premium Payable
Annual Rs. 2, 500
Half-Yearly Rs. 1, 500
Quarterly Rs. 1, 000
Processing Fee Rs. 700 (non-refundable one time fee)

SAVINGS PLANS
Reassuring Life Endowment Plan
(With Cash Bonus)
An endowment plan that arms you for tomorrow. It helps you bear those heavy
expenses while building your home and providing for your children's education
and marriage. And while it helps make your post-retirement years carefree and
secure, it also takes care of your near and dear ones in the event of your untimely
death
Key Features
1. Lump Sum Benefit At Maturity

2. Unique Annual Cash Bonus
3. Multiple Bonus Management Options (Re-invest, Withdraw, Offset
Premiums
Benefits
Survival Benefits
I. A large financial asset for you and your beneficiaries once the policy matures,
so you can meet large expenses – like funding higher education for your kids,
building a house or even organizing your child’s wedding.
Death Benefit
II. Financial support for your family in case anything were to happen to you.
III. Cash Bonus*
This plan has the advantage of annual cash bonus which you may
receive based upon the performance of the company. You have the option to
accumulate it, withdraw it or adjust it against payment of future premiums.
Bonuses are non-guaranteed and are based on the company's performance.
Additional Benefits
Rider Benefits
Increase your coverage at a nominal extra cost by opting for any of our riders –
Dismemberment Rider and Waiver of Premiums Rider.

Loan Benefit
After paying a premium for three years, you will be eligible for a loan.
Tax Benefits
Look-in Period
Product Features
Eligibility
Minimum age for application: 12 years
Maximum age for application: 55 years
Maximum maturity age: 65 years
You can choose premium paying terms from 10 - 30 years (i.e. 10, 11, 12...20...30)
Life Coverage Term
Same as the premium payment term
Annual, half-yearly, quarterly or monthly
Annual Rs. 4, 000

Monthly Rs. 500
Reassuring Life Endowment Plan (Reversionary Bonus)
Ideally, once your protection needs are met, consider a saving plan. The
Reassuring Life Endowment Plan with reversionary bonus* is one such offering.
Besides being a savings option, it also acts as a highly reliable safety net for your
family in case something happens to you.
The Reassuring Life Plan is ideal because it gives you the incredible benefit of a
reversionary bonus* which enhances your life cover, and hence your sum assured,
dramatically, every year. So when the policy matures you can receive almost
double the initial sum assured.
Key Features
1. Lump Sum Benefit at Maturity
2. Customised Life Covers
3. Enhancing Life Cover (Attractive Reversionary Bonus)

Benefits
Survival Benefits
I. A sizeable financial asset for you and your family once the policy
matures, so you can meet large expenses - like higher education for your kids,
investment in a house, or organizing your child’s wedding.
II. A life cover that enhances rapidly, annually, thanks to the reversionary bonus*
feature. This basically means the bonus is earned not just on the original sum
assured but also on the previously accumulated bonus - an amount which goes on
increasing every year.
III. A final additional bonus.
IV. Bonus are non-guaranteed and are based on the company's performance.
*Applicable if at least premiums for 15 years have been paid.
Death Benefit
V. Your family would receive a large sum which would include the sum assured and
the accumulated reversionary bonus and final additional bonus.
Additional Benefits
Rider Benefits

Loan Benefit
After paying a premium for three years, you will be eligible for a loan
Tax Benefits
Look-in Period
upon taking or canceling the policy
Product Features
Eligibility
Minimum entry age: 12 years
Maximum entry age: 55 years
You can choose paying premium terms from
Payment Term 10-30 years. (i.e. 10, 11, 12...20...30)

Life Coverage Term
Same as the Premium Payment Term
Annual, half-yearly, quarterly or monthly.
Annual: Rs. 6, 000
Half-Yearly: Rs. 3, 000
Quarterly: Rs. 1, 500
Monthly: Rs. 750

INVESTMENT
Rewarding Life Whole of Life Plan
Rewarding Life Whole of Life Plan is an offering that enables you to protect, save
and invest. With this plan, you can create a sizeable financial asset to pass on to
your family.
The Rewarding Life Plan covers you for 85 years even after the premium paying
term has ended. Your investment goes on increasing every year, thanks to a
compound reversionary bonus. This basically means that apart from the bonus
earned on the sum assured, your accumulated bonus earns you an additional bonus
Key Features
• Wealth Accumulation with Reversionary Bonus and ‘Final Additional
Bonus’
• Life Cover Till 85 Years
• Flexible Premium Payment Options

Benefits
I. Survival Benefit
A large lump sum payment to you and your family when you turn 85. This
includes the full sum assured the vested compound reversionary bonus and the
final additional bonus. The total amount could be as much as 10 times the sum
assured!
II. Death Benefit
Your family gets the sum assured, the compounded reversionary bonus** and
the final additional bonus*.
III. Final Additional Bonus
The additional bonus will be paid once the policy reaches its maturity benefit
stage (at 85 years of age or earlier death).
IV. Bonus are non-guaranteed and are based on the company's performance.
** Compound reversionary bonus: Apart from the bonus on the basic sum

assured, the accumulated bonus on your policy will also earn an additional
bonus
Additional Benefits
Rider Benefits
Loan Benefit
After paying a premium for three years, you will be eligible for a loan.
Tax Benefits
Look-in Period
This is a 15 day period for you to go through the terms and conditions and decide
Product Features

Eligibility
Maximum age up to which you can pay
your premium: 65 years
Flexible Premium Payment Term
Based upon your current age, you can choose premium payment terms of 15, 20 or
25 years
Life Coverage Term
Up to the age of 85 years
Annual Rs. 6, 000
Monthly Rs. 750
The Powering Life Limited Payment
Endowment Plan

For those who have achieved financial success, ensuring that success is well
protected and loved ones are cared for is an important necessity. The limited
payment endowment plan does just that by allowing you to pay for the policy in a
short period and to enjoy the life insurance coverage and maturity benefits for a
long period. ING Vysya Life Insurance can help you to ensure that your family's
future is safe and secure.
The Powering Life Plan is ideal because you get a life cover and your family
enjoys long term financial security. And thanks to a high reversionary bonus, your
investment grows over time. You can even customise your coverage term and
choose from a range of premium payment terms.
Key Features
• Safe Investment with High Tax Free Returns
• Customisable Premium Payment Term
• Enhancing Life Cover
Benefits
I. Survival Benefits
. A large lump sum payment to you when the policy matures.
. A life cover that enhances rapidly with the addition of a reversionary
bonus* each year.
. A final additional bonus** at the end of the term.
. Flexible life-cover term.
. Flexible premium payment options.

II. Death Benefit
Your beneficiaries will receive the accumulated reversionary bonus* and
final additional bonus** in addition to the sum assured.
III. Bonus are non-guaranteed and are based on the company's performance.
**Applicable if at least premiums for 15 years have been paid.
Additional Benefits
Rider Benefits
Increase your coverage at a nominal extra cost by opting for any of our riders
-Term Rider, Accidental Death Rider, Accidental Death, Disability &
Loan Benefit
After paying a premium for two years, you will be eligible for a loan.
Tax Benefits
Look-in Period
upon taking or cancelling the policy.
Product Features

Eligibility
Annual Rs. 24,000
Half-Yearly Rs. 12,000
Quarterly Rs. 6,000
Monthly Rs. 3,000.

RETIREMENTS
The Best Years Retirement Plan
As the name suggests, this plan can ensure that your post-retirement years are
spent in peace and comfort. And it extends the same comfort to your family by
standing as a financial asset, in case you are not around. This long-term investment
plan can truly ensure the best years of your life.
Key Features
1. Investment Amount And Returns Declared Are Guaranteed
2. Steady Returns With 80 CCC Balanced Fund
3. Flexibility in Fund Accumulation
4. Lower Management Fees
5. Lower Minimum Contribution Limit
Benefits

I. Capital Guarantee:
. Your contributions are transferred to your Individual Pension
Amount(IPA). Charges as applicable will then be deducted.
. The balance in your IPA will be invested in the ING Vysya Capital
Guarantee Plan.
II. Flexibility:
. To chose the regular contribution to be made each year.
. With regard to timing and frequency of contributions
. To start the pension whenever you wish.
. To postpone the retirement date to make best use of market
conditions.
III. Spouse Pension Benefit:
. In case of death, your spouse can defer the purchase of annuity, if the
age is less than 45 years.
. To encash up to 5% of the outstanding benefit amount each year, upto
age 45,and then can purchase annuity from balance, if any.
Additional Benefits
Term Rider Benefits
The cover shall be equal to the lower of 5 times the regular contribution or Rs.
1,00,000.

The sum assured under this rider will be used to increase the benefit amount under
the basic policy.
Term Rider Premium
Premium will be paid by way of deduction from the IPA on each due date.
Tax Benefit
Under Section 80 CCC. Any lump sum received at chosen retirement date or on
death is exempted from tax, under Section 10(10A) of the IT Act.
Product Features
Eligibility
Minimum entry age: 18 yrs
Maximum entry age: 65 yrs
Minimum deferment period: 5 yrs
Maximum deferment period: 52 yrs
Minimum vesting age: 45 yrs
Maximum vesting age: 70 yrs
Applicable Charges
Initial one-time charge Rs. 700
Contribution Related Charges
All first year contributions 10%
All subsequent contributions 3%

Annual Management fee will be levied on each 31st March on the IPA after
crediting bonus interest. The Annual Management fee will depend on the size of
balance in the IPA and will be as follows:
Balance in IPA
Annual Management Fee
p.a.
Upto Rs. 50,000 2.5%
50,001-75,000 2%
75,001-1,00,000 1.75%
Above 1,00,000 1.5%
New Future Perfect
Life is not always picture perfect. It’s making the right choice from the various
choices available that makes life perfect. The decisions you make now, when you
are young, have an enduring effect, even after retirement. What you need is a
flexible plan that allows you to override the unexpected wave that you may face in
future, with ease, while still allowing you to make the most of the situation,
financially. An ING Vysya Life Plan does just that by allowing you to choose how
you want your post-retirement future to be with a tax-free investment plan based
on your idea of risks versus returns.
How does this plan work?

The ING Vysya Life New Future Perfect Unit Linked Plan has been carefully put
together to enable you get the maximum benefits from your investment plan. It not
only provides you with flexibility in terms of premium amounts and frequency, but
also offers you an investment opportunity that’s just perfect for your long-term
financial future.
The ING Vysya Life New Future Perfect Unit Linked Plan offers you flexibility in
terms of how much you want to pay, how often you want to pay and the choice of
investment pattern. After all, what you are looking for is not just life cover but
something that covers all of what life has to offer.
What are the features of this plan?
The plan comes with its own three unique features:
 Protect your Future: Even after retirement, you and your family are well
provided and protected with continued life cover.
 Survival Benefits: Apart from the regular yearly systematic withdrawal benefits
starting from age 60 till 80, you will also receive maturity benefit at the age 80.
 Manage your investments: You can choose from any of the five investment
options - Debt, Secure, Balanced, Equity or Growth Fund, depending upon your
appetite for risks and returns. Review the performance of your investments and
switch between the plans or top up with additional funds.

RIDERS
What Are Riders?
Riders are the optional contracts, which offer additional benefits for policyholders.
They are always attached to a basic policy. They cannot be bought separately or
independently of a basic policy. Each Rider will have its own premium rate and
separate policy conditions.
We offer the following Riders with our products:
Term Rider
This Rider amount is payable only on death during the application term. This
amount will be in addition to the Sum Assured, under the basic policy to which this
Rider is attached. However this benefit is not payable, in case of occurrence of
death due to suicide, within one year of commencement of risk.
Features
Entry Age
18 years (last birth date)

Last Premium Paying Age
Premium Paying Term
Same as base policy
Payment Mode
For individuals: yearly, half yearly, quarterly
For group billing as a single cheque from a company: monthly facility availability
Modal Factor
Yearly: 10.86
Half yearly: 5.61
Quarterly: 2.895
Exclusion
This Rider shall not cover death caused directly or indirectly due to suicide, while
sane or insane, where such death occurs within one year of the Effective Date of
the Rider.
Maximum Cover
Equal to the Sum Assured under the basic policy, subject to an overall maximum
of Rs. 20,00,000/-
Tax Benefit
Rebate under Section 88 and maturity benefit under Section 10(10 D)

Waiver of Premium Rider
Waiver of Premium Rider under the basic policy and all other Riders - in case of
total disability occurring due to sickness or accident. The total disability should last
for at least 6 consecutive months. No disability covers during the first 6 months of
the policy.
Total Disability
Resulting from accident or sickness and disability occurring within 180 days of the
accident or sickness. The disability should last for at least 180 consecutive days.
Applicable only when the disability completely and continuously prevents the life
assured from engaging in any occupation to earn any wages.
Features
Entry Age
Last Premium Paying Age
Premium Paying Term
Same as base policy
Payment Mode
For Individuals: Yearly, Half-yearly, Quarterly
For group billing as a single cheque from a company: monthly facility availability

Modal Factor
Yearly: 10.86
Half yearly: 5.61
Quarterly: 2.895
Exclusions
This Rider shall not cover any disability caused directly or indirectly by any of the
following:
1. Intentional self-inflicted injury, suicide or attempted suicide, while sane or
insane.
2. Life Assured being under the influence of alcohol, narcotics, psychotropic
substances or drugs unless taken in accordance with the lawful directions
and prescription of a qualified and registered medical practitioner.
3. War (declared or undeclared), war-like operations, invasion, civil
commotion, riots or revolution.
4. Participation in any flying activity, except as a bonafide passenger in a
commercially licensed aircraft.
5. Participation is a criminal or unlawful act.
6. Any injury sustained before the Effective Date of this Rider.
Any physical/ medical condition not disclosed but found existing before the
Effective date of this Rider.
7. Participation in hazardous sports, hobbies or pastimes including (but not
limited to) racing, parachuting, mountaineering etc.

8. No premiums shall be waived if the sickness leading to disability occurs
within 180 days after the Effective date of this Rider.
9. Atomic energy explosion or radiation of any kind.
Tax Benefit
Rebate under Section 88 and maturity benefit under Section 10(10 D)
Employee Benefits - a definite advantage for both
employers and employees.
Most management follows an integrated method of arriving at compensation and
benefit plans for their employees. Life insurance, health and pension benefits are
viewed today as an important component of a company's remuneration structure.
Organizations wanting to attract and retain employees have given these benefits a
special place in their compensation structure.
Traditionally, medical insurance was offered as a critical part of employee
compensation. However, the new focus is to provide a comprehensive cover. It is
now possible to provide this through Group Life and Critical Illness insurance in
the most cost effective and efficient manner.
Further, emerging demographics pose concerns of disability and living too long,
making it necessary to address these issues during the earning years of life. To
design, administer and manage compensation and benefit package to meet all such
needs requires core competence and preparedness, which a life insurance company
can provide.

Group Gratuity
Financial Protection.
ING Vysya Life's Group Gratuity Plan is a special way to reward your employee's
loyalty. Absence of a good gratuity funding mechanism can prove to be a financial
strain if you have to pay out huge amounts in any year. Having a group gratuity
plan enables you to meet your legal obligations of providing gratuity in a hassle
free manner. It not only helps you build healthy corpus, but also offers additional
insurance cover, to provide enhanced gratuity benefits in the event of unfortunate
death of your employee. This can be done in a tax efficient and hassle free manner
through this plan.
The Flexibility
You can decide the type of investment strategy to accumulate adequate corpus to
provide for your employees gratuity benefits. For your convenience, we provide
various investment options. You can invest in one or more of such plans.
Investment options being,
Liquid 100% of the available funds are invested in Provides for liquidity and

plan short term(with in one year of maturity)
debt and money market instruments
safety
Debt plan 100% of the available funds are invested in
debt instruments (3 to 7 years)
Provides safety and
growth with minimum
risk
Secure
plan
Up to a maximum of 20% of the available
funds are invested in equity and the rest in
debt instruments
Provides for growth with
low risk
Balanced
plan
Up to maximum of 40% of the available
debt instruments
Provides for higher
growth with reasonable
security
Growth
plan
debt instruments
Provides for opportunity
of high growth
You also have the flexibility to review investments periodically and switch
investments from one plan to another. Two switches per policy year are offered
free of cost.
You have the advantage of additional insurance cover to provide full service
gratuity in the event of an employees' unfortunate death before retirement.
Lion Advantages
For you
• It is a hassle free process. Reduces administrative work, as we take care of it
• Better returns of being part of the huge ING Vysya Life's investment
portfolio
• We offer actuarial help in assessing periodic liability to enable you to have
proper funding plan

• It provides additional insurance at a little extra cost, which will enhance
benefits in case of unfortunate death of employee
• An opportunity to design tax efficient employee benefits* with inputs from
experts in various fields like HR, investments and actuaries
• It helps build customized solutions to meet specific needs
• It helps you in being a good corporate citizen
*Income tax benefits: You can contribute upto 8.33% of annual wage bill and
claim tax exemption for the same under Sec 36(1)V of Income Tax Act, 1961.
Investment income on such investments are exempt from tax under Sec 10(25)iii of
Income Tax Act, 1961.
For your employees
1. Enhanced gratuity benefits by way of additional insurance cover in case of
death before retirement - it means full gratuity even in case of early death.
2. Safety of the funds - being managed by experts
3. Periodic valuation of the Gratuity Fund by our actuaries to ensure adequate
fund is available to pay benefits - a reassurance that fund is secure
Specifications
Minimum Entry Age 18 years
Maximum Entry Age As per the Scheme rules
Contributions and Premium Initial Contribution This Contribution is
payable in respect of members who have to

their credit, past service with the Employer.
The contribution can be paid in lump sum
or in annual installments not exceeding 5
years or as agreed between the Policyholder
and the Company.
Ordinary contributions This is the regular
contribution payable each year to secure the
gratuity benefits on account of future
service.
Premium This is the amount payable to
secure the life cover. The life cover shall be
as per the scheme rules and can either be
flat cover or future service gratuity. The
Initial and Ordinary Contributions will be
expressed as a % of the salary bill and
subject to limit of 8.33% of total salary
including PF according to Income Tax
Rules 87 and 88 (part XIII of IT Rules
1962).
Contribution and premium
frequency
The Ordinary contribution and Premium are
generally payable in advance. We may
allow the contribution and Premium to be
paid half yearly, quarterly or monthly. The
Initial Contribution is payable in lump sum

or in flexible installments as agreed by the
company over a period not exceeding 5
years.
Switches Two switches per policy year offered free
of cost.
Section 41 of the Insurance Act, 1938 states:
1. No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take out or renew or continue an insurance in
respect of any kind of risk relating to lives or property in India, any rebate of
the whole or part of the commission payable or any rebate of the premium
shown on the Policy, nor shall any person taking out or renewing or
continuing a Policy accept any rebate, except such rebate as may be allowed
in accordance with the published prospectuses or tables of the insurer.
2. Any person making default in complying with the provisions of this section
shall be punishable with fine that may extend to five hundred rupees.
Group SuperAnnuation
Financial protection for your employees.
ING Vysya Life's Group Superannuation Plan is a special way to safeguard your
employees financial interests. It enables you to take care of your employees post
retirement needs by providing timely and hassle free support. It helps you build
healthy corpus to provide essential financial support for retiring employees, whom

you wish to include in the group. This can be done in a tax efficient and hassle free
manner through the plan.
The Flexibility
You can decide the type of investment strategy to accumulate adequate corpus to
provide for your employee's retirement benefits. For your convenience, we provide
various investment options. You can invest in one or more of such plans.
Investment options being,
Liquid
plan
100% of the available funds are invested in
short term(with in one year of maturity) debt
and money market instruments
Provides for liquidity and
safety
Debt plan 100% of the available funds are invested in
debt instruments (3 to 7 years)
Provides safety and
growth with minimum
risk
Secure
plan
debt instruments
Provides for growth with
low risk
Balanced
plan
Up to a maximum of 40% of the
available funds are invested in equity and the
rest in debt instruments
Provides for higher
growth with reasonable
security
Growth
plan
Provides for opportunity
of high growth

debt instruments
You also have the flexibility to review investments periodically and switch
investments from one plan to another. Two switches per policy year are offered
free of cost.
The Schemes
Share Concern. Partner with your employees
If you choose, you can make your employees partners in this plan by allowing
them to voluntarily contribute to build higher retirement benefits. It helps them
save taxes and invest their retirement savings to maximize returns by investing in
debt and equity instruments without having to bother about investment
management.

Lion Advantages
For you
• It is a hassle free process. Reduces administrative work, as we take care of it
• Better returns of being a part of the huge ING Vysya Life's investment
portfolio
• It is a one stop solution for fund management and annuity provision
• An opportunity to design tax efficient employee benefits with inputs from
experts in various fields like HR, investments and actuaries
• It helps build customized solutions to meet specific needs
• It gives convenient investment options, with a choice to review as and when
you choose
• It helps retain employees longer
• It helps you be a good corporate citizen
• It provides support in completing all legal formalities of setting up a
superannuation plan
For your employees
• Long term income protection, which provides for regular income even after
retirement
• Provides different annuity options to suit individual needs
• Once the annuity starts, the returns are guaranteed
• Tax exemption under Section 88 of Income Tax Act, for employees'
contribution

Specifications
Minimum Entry Age 18 years
Maximum Entry Age As per scheme rules
Contributions 1. Initial
Contr****************************i
bution This Contribution is payable in
respect of members who have to their
credit, past service with the Employer.
The contribution can be paid in lump
sum or in annual installments not
exceeding 5 years or as agreed between
the Policyholder and the Company.
2. Ordinary contributions This is the regular
contribution payable each year to provide
for pension. The Initial and Ordinary
3. Contributions will be expressed as a % of
the salary bill and subject to limit of 27%
of total salary including PF according to
Income Tax Rules 87 and 88 (part XIII of
IT Rules 1962).
Contribution and frequency 1. The Ordinary contribution is generally
payable annually in advance. We may

allow the contribution to be paid half
yearly, quarterly or monthly or at any
time during the Policy year.
2. The Initial Contribution is payable in
lump sum or in flexible installments as
agreed by the company over a period not
exceeding 5 years.
Allocation Charges Maximum Allocation charges, varying by
contribution type and policy year are as follows
1. Initial Contribution: 5%
2. First Year Ordinary Contribution: 5%
3. Renewal Year Contribution: 3%
Allocation charges will be specified for each
Policy.
Switching Two switches per policy year offered free of
cost.
Section 41 of the Insurance Act, 1938 states:
1. No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take out or renew or continue an insurance in
respect of any kind of risk relating to lives or property in India, any rebate of

2. the whole or part of the commission payable or any rebate of the premium
shown on the Policy, nor shall any person taking out or renewing or
continuing a Policy accept any rebate, except such rebate as may be allowed
in accordance with the published prospectuses or tables of the insurer.
3. Any person making default in complying with the provisions of this section
shall be punishable with fine that may extend to five hundred rupees.

FAQS
1. What is life insurance?
Life insurance is a contract in which the insurer, in consideration of certain
payment to be made to it (called the premium), either in a lump sum or in any
other periodical payments, agrees to pay the assured, his nominee or any person
for whose benefit the policy is taken, a stated sum of money on the happening
of a particular event contingent on the duration of human life.
2. Why do you need life insurance?
Uncertainty of death is inherent in human life. It is this risk, which gives rise to
the necessity for some form of protection against the financial loss arising from
death. Insurance attempts to alleviate this uncertainty by providing financial
security should such an event happen and therefore provides for
1. family protection and/ or
2. provision for old age and/or
3. Investment options, depending on the nature of the insurance product.
3. What are the advantages of a life insurance policy?
Life insurance plan is said to be superior to an ordinary savings plan. Unlike
many other savings or investment plans, life insurance offers a combination of
three benefits viz., income protection, savings and investment options,
depending on the policy chosen. In the event of death, a life insurance policy
offers the full sum assured, whereas other savings/ investment plans would

make available only the accumulated savings with interests/ returns. Insurance
encourages and forces thrift: A savings deposit can be too easily withdrawn.
Many may not be able to resist the temptation of using the balance for some less
worthy purpose. On the other hand the payment of life insurance premiums
becomes a habit and comes to be viewed with the same seriousness as the
payment of interest on a mortgage. Thus, insurance in effect brings about
compulsory savings.
Ready marketability and suitability for quick borrowing: After the specified
initial period, if the policyholder finds himself unable to continue payment of
premiums he can surrender the policy for a cash sum, alternatively, he can tide
over a temporary difficulty by taking a loan on the sole security of the policy
without delay. Further, a life insurance policy is sometimes accepted as a
security for a commercial loan.
Tax relief: Subject to certain limits and conditions prescribed by the Income
Tax Act, 1961 (the “Income Tax Act”), a life insurance plan offers tax benefits
in the form of deductions from income/ rebate on income tax and also exempt
from tax the amounts received under a life insurance policy. When the tax relief
is taken into account it will be found that the assured is in effect paying a lower
premium for his insurance.

4. How much insurance cover do you need?
Answer to this question depends on various factors including (i) the reasons for
seeking insurance viz., as an income-protection, savings or investment tool, (ii)
income sources and amounts other than salary/earnings; (iii) whether or not the
individual is married and, if so, what is the spouse earning capacity; (iv) the
number of individuals who are financially dependent on the life to be insured;
(v) benefits to accrue from an employer-sponsored life insurance plan if
available; (vi) whether any special life insurance needs exist (e.g., mortgage
repayment, education fund, estate planning need); (vii) whether the life to be
insured has any other old-age or super-annuation benefits etc. Rough estimates
suggest an amount of life insurance equal to four to five times of ones annual
earnings.
5. When does the coverage on the policy begin?
Coverage under a life insurance policy begins once the proposal made to the life
insurance company is accepted and communicated and the person making the
proposal has paid the first premium. Most companies provide some temporary
conditional coverage during the application process assuming certain conditions
are met. This temporary coverage is limited in time and amount. The
availability, amount and conditions are described in the application and vary
from company to company. If you are replacing existing coverage, you should
never drop your existing coverage until your new policy has been approved, and
your first premium has been paid.

6. When could a person cover the lives of spouse and children?
There is no single guidance or rule for this. Initially, life insurance for
appropriate amounts should be effected on the family breadwinner(s). It is of
utmost importance that the income earning capacity of the primary breadwinner
be fully protected, if possible, through the purchase of the required amount of
life insurance before contemplating the purchase of life insurance on children or
on a non-wage earning spouse. In a dual-earning household, it is important to
protect the income earning capacity of both spouses. Life insurance on a non-
wage earning spouse is often recommended for the purpose of paying for
household services lost at this individuals death.
7. What is premium?
Premium is the consideration (price) payable periodically to the life insurance
company for the risk undertaken by it under the insurance policy
8. Who is a proposer?
The person who proposes to enter into a contract of insurance with a life
insurance company to insure himself or another life on whose life he has
insurable interest
9. Who is a life insured?
The person whose life is covered under the contract of insurance.

10.What is a claim?
Demand presented for payment of the benefit due under the terms of an
insurance policy .
11.What is lapse of policy?
The termination of policy caused by the policyholders failure to pay the
premiums within the stipulated period.
12.What is maturity date?
The date on which the policy comes to on end and on which the survival
benefits are payable.
13.What is maturity value?
The amount payable under a life insurance policy on its maturity date.
14.What is a life insurance policy?
A written document issued by a life insurance company to a policyholder,
which expresses the insurance contract between the company and the
policyholder.
15.Who is a policyholder?
A person that has entered into a contract of insurance with the insurance
company.

16.Can you have more than one insurance policy? Why would you need
multiple policies?
Yes. When one is purchasing an insurance policy to cover the entire risk, it
might be prudent to break the policy into smaller units. Though this increases
the cost of insurance, as the discount in premium for larger sum assured may
not be available, the benefit may offset this cost. Having multiple policies
allows you to discontinue some policies while continuing the others, in case
there is a financial crisis because of which you suddenly find yourself in a tight
spot. After the financial crisis is over, you may reactivate the other discontinued
policies, subject to the terms of those policies.
17.Are moneys payable under a life insurance policy free from attachment?
Section 60(1)(kb) of the Code of Civil Procedure, 1908 states that all moneys
payable under a policy of insurance on the life of the judgment debtor will be
free from attachment. This places an assigned policy outside the reach of the
creditors.
18.What is underwriting?
Underwriting is the process through which a life insurance company takes a
decision whether to accept the risk and if so at what rate of premium, after
considering relevant facts disclosed to it.
19.What is group insurance policy?
An insurance policy that provides coverage for a number of people under one
contract, called a master contract. In a Group insurance policy, the policy holder
is usually the employer who contributes premium which is a certain percentage

of the salary of the employees in the Employers organization. However, the
employees are the beneficiary in such Group insurance policies. In general, in a
group insurance policy the insurance company ordinarily –cannot turn down
any applicant that is a member of the defined group.
20.What are “with profit” policies?
Policies, where the policyholders receive bonuses, upon the insurance company
generating surplus and declaring them to the policyholder. Only a "with profit"
policy is eligible to bonus. The bonus that may be receivable may vary year to
year according to the surplus generated by the insurance company. ‘With profit’
policies are more popular because of the possibility of getting increasing bonus
every year even though the premium payable is higher than the premium paid in
‘without profit’ policies.
21.What is a paid up policy?
Once the premium on a life insurance policy for a specified period is paid in
full, the policy may not lapse even if no subsequent premiums are paid. Such
policies are known as paid-up policies. In such cases, the sum originally assured
is reduced to a sum bearing the same ratio to the sum originally assured as the
number of premiums actually paid to total number of premiums originally
stipulated as payable under the policy. By way of example, if 6 out of the
originally stipulated 30 premiums are paid, the sum assured under a paid-up
policy could still be 20 percent of the original sum assured by the policy.

22.What is a material fact?
A fact that would influence the judgment of a prudent insurer in deciding
whether to insure a particular risk, or the terms on which to insure it would be
considered material. Generally, all information required in the proposal form
are considered material and a non-disclosure or misrepresentation in relation to
such information sought could give rise to a right in favour of the insurance
company to repudiate the claim.
23.What is reinsurance?
The practice of insurance companies insuring the risk insured by them is called
reinsurance.
24.What is nomination?
Nomination is a right conferred on the holder of the policy of life insurance on
his own life to appoint a person or persons to receive the policy moneys in the
event of the policy becoming a claim by death.
25.Who is a nominee?
The person designated by the policyholder to receive the proceeds of an
insurance policy, upon the death of the insured.
26.Who can nominate?
Any policyholder, who is a major and the life insured under a policy can make a
Nomination. Nomination is not effective in a policy taken on the life of another
person.

27.When can nomination be done?
Nomination can be done at the inception of the policy itself. All that a
policyholder has to do is to provide the details of the nominee in the proposal
form. If a nomination was not done at the time of filing the proposal, it can be
done at a later date either by an endorsement made at the back of the policy
document or by making the endorsement of nomination on a piece of paper
pasted on the policy.
28.How can nomination be changed?
Subject to the provisions contained in Section 39 of the Insurance Act, 1938,
there are no restrictions on the policyholder regarding changing his nomination
at any point of time, any number of times. The life-assured is free to change or
cancel a nomination and make a fresh nomination any number of times during
the currency of the policy. Transfer or assignment of a policy (except when it is
made to an insurer in specified cases) automatically cancels a nomination.
29.What is successive nomination?
Successive nomination means that money should be paid to nominee A; failing
him, to nominee B; failing whom, to nominee C, etc. Such a nomination is
treated in favour of one individual in the order mentioned and is acceptable in
law.
30.What are the details to be provided about the nominee(s)?
The following precautions are necessary at the time of filling in the proposal:
Mention the Full Name, Address, age, relationship to yourself of the nominee.

31.What is transfer or assignment of a life insurance policy?
Transfer or Assignment is a method of transferring ones transferable interest in
a life insurance policy to another person or institution including as security for
repayment of loans.
32.What is the difference between nomination and assignment?
While the nomination is an authorization to receive the policy moneys in the
event of the death of the life assured, it does not give the nominee an absolute
right over the money received to the exclusion of other legal heirs. Further, the
Nomination can be revoked or cancelled at any time during the lifetime of the
policyholder at his will and pleasure or by a subsequent assignment. On the
other hand, assignment of an insurance policy is a transfer or assignment of all
rights and liabilities to the insurance policy in favour of the assignee.
33.How to make an assignment or transfer of a life insurance policy?
Assignment or transfer of a life insurance policy may be made by simply
making an endorsement to that effect in the policy document. Another way of
transferring or assigning the life insurance policy is by getting a separate
assignment deed executed. The former case is a preferred mode of assignment
as it is exempt from further stamp duty. An assignment should be signed by the
Assignor or his duly authorised agent specifically stating the fact of transfer or
assignment and attested by at least one witness.

34.What are the advantages of raising loans on an insurance policy?
One of the advantages of a life insurance policy is the facility of loan that it
offers in times of need. At a time when there is a dire necessity and no other
funds are available, it is best to go in for loan on your life insurance policy.
However, most policies stipulate a limit as to the amount that could be taken on
loan. Generally the limit is 90 percent of the available cash surrender value on
the policy. It is much easier and a more economical source of borrowing. And
above all, it does not hurt your self-esteem. It is after all your own money that
your are withdrawing
35.What are the tax benefits on purchasing policies?
Subject to certain limits and conditions prescribed by the Income Tax Act,
premiums paid to effect or to keep in force an insurance policy on the life of the
assesses or on the life of the wife or husband or any child (whether minor or
major) of the assessed irrespective of the status of the child, enjoys tax rebate
under section 88 of the income tax act. In the case of contribution to pension
funds, deduction is available under Section 80CCC of the Income Tax Act
36.Does a beneficiary on receipt of death benefits or when an individual
receives maturity benefits pay taxes?
Section 10(10D) of the Income-tax Act, 1961, provides total exemption on any
sum received under a life insurance policy, including the sum allocated by way
of bonus on such policy, other than any sum received under Sub-section (3) of
Section 80 DD or sub-section (3) of Section 80DDA, any sum received under a
Keyman Insurance Policy, or under a policy issued in respect of which the

premium payable for any of the years during the term of the policy exceeds
20% of the actual capital sum insured.
37.What does Add-on Benefits or Riders mean?
The additional benefits, over and above the benefits available under the
insurance policy that a policyholder may be entitled to at an extra cost are
called Add - on Benefits or Riders. One could opt for any one or more of the
benefits at a little extra cost. This additional protection for your loved ones
ensures that you receive a sum additional to the assured sum in case of any
untoward event in your life.
38.When are the benefits of the Life Insurance plan withheld?
Suicide: No benefits will be payable if death occurs due to suicide, within a
specified period from the date of commencement of risk. In addition benefits
under a life insurance policy may not be granted if the insurer has the right to
repudiate the claim
39.What is Survival Benefit?
Survival benefit is a benefit payable on survival of the life assured to a
particular pre-defined point of time in the insurance contract. For example, in
the Money-Back Policy, the life assured is paid a certain percentage of the sum
assured every few years. This survival benefit is payable only when the life
assured is alive. It does not matter if the life assured is suffering from any
illness or not. However, if the life assured dies, the benefit payable is Death
Benefit and not survival benefit.

40.What is the Death Benefit?
In the event of death during the plan term, your family would receive the full
sum assured.
41.What is Accidental Death Benefit?
This benefit is an ‘Add-on’ (Rider) benefit. When you opt for this benefit, the
amount payable in the unfortunate event of death due to accident, would be
substantially higher than the basic sum assured that may be payable in the case
of a policy that merely provides for death benefit. As an illustration, if a person
Mr. A has opted for Accidental Death Benefit along with the basic cover on life
dies in an accident, then his nominee would be paid an extra benefit called the
‘Accidental Death Benefit’ which is additional to the benefit receivable under
the basic policy
42.What is Accidental Death, Disability and Dismemberment Benefit?
If you want more than regular accident death protection, you can choose this
add-on benefit. A helping hand for the family, the assured sum would be
paid to you or to your beneficiary in the event of your death, disability or
dismemberment due to an accident. The percentage of the sum assured you
receive would depend on the extent of disability. This amount would be over
and above the basic assured sum. For instance, If Mr. A has opted for the
‘Accidental Death, Disability and Dismemberment Benefit’ then the life
assured will receive a certain percentage of the rider benefit if the life
assured has suffered on his earning capacity by loss of his limb, sight,
hearing capacity, speech, etc due to an accident. While the regular accident

43.death protection rider provides the assured certain increased sum after death,
it does not provide any benefit if the life assured survives an accident but
suffers from dismemberment or disability due to the accident. The rider in
“Accidental Death Disability and Dismemberment” covers situations, in
addition to covering Accidental Death, where the life assured survives an
accident but suffers from disability and/or dismemberment.
44.What is Waiver of Premiums benefit?
In the unfortunate case that you become totally disabled, thisadd on benefit
waives off all future premiums both on the basic cover and on all add-on
benefits during the disability period. All benefits of the original insurance plan
would remain valid until maturity, without your being required to continue to
pay the premiums for the base policy or the Add-ons.
45.What is term Benefit?
For a small additional premium, the amount received on death would be higher.
The additional sum assured could be upto the amount assured by the basic plan.
46.What does Accidental disability mean ?
A person who has opted for the ‘add-on’ benefit called ‘Accidental Death,
Disability and Dismemberment Benefit’, suffers from ‘Total and Permanent
Disability’ due to an accident, then he eligible for certain benefits under the
rider. A person would be said to be suffering from ‘Total and Permanent
Disability’ when the disability results from bodily injury caused by accident
within 180 days of the accident. Further the disability prevents the life assured

from engaging in any work continuously, completely and permanently.
Depending on the extent of disability, the life assured will receive a certain
percentage of the sum assured under this Rider.

SHRI CHINAI COLLEGE OF COMMERCE & ECONOMICS
Questionnaire for Survey of Ing Vysya Life Insurance
NAME:-
DESIGNATION: - CONTACT NO.:-
1. Are You Aware Of Insurance?
Yes No
2. Do You Have Life Insurance Plan Of Any Company?
If Yes Than Which Co. _______________________________
Reason: - ________________________________________
3. Did you benefit yourself from this policy?
Yes No
4. Do You Have Any Ing Vysya Life Insurance Plan?
Yes No
Reason: - _________________________________________
5. Which Type Of Policy You Have Taken?
Reason: - ____________________________________
6. At What Age You Have Taken Insurance Policy?
__________________________________________________
7. Give Your Comments On Ing Vysya Life Insurance?
____________________________________________________
Project Guide: - Prepared By:-
PROF.NISHIKANT JHA Mohd Yunus Shaikh

Survey report
ING VSYA’S position in life insurance business
78%
18%
4%
LIC
other companies
ing vysya
As per the findings:-
 Majority of people have policies of LIC. The reason why people have taken
policies of LIC is that it is a government company and it is very old, therefore
people have trust in it.
 18% of people are covered by policies of other companies.
 4% of people have policies of ING VYSYA.

Question’s asked to the sales manager ROY.
1. Where is the head office?
Bangalore.
2. How many branches?
At present we have three branches in Mumbai.
By December 2007 more 10 branches will come up.
3. How many agents do you have?
500.
4. Which are the best selling policies?
All are best.
5. Why a person should go for ING VYSYA?
Its world’s largest conglomerate.
6. You concentrate mostly on which age group?
Younger generation’
7. What are the marketing strategies used?
From 1st
February advertisement are going to roll in 60 channels throughout
the country.

CONCLUSION
After completing this project, it can be concluded that even though LIC is
the major player of life insurance in Indian market, which has not only
gained market share but also got strong public confidence.
However ING VYSYA is a good company which gives better returns but still
as they do not promote their product their market share is 0.55%.
If they promote their company and product they can certainly have a good
growth in future.

METHODOLOGY
VISITED AT: - ING VYSYA LIFE INSURANCE
CHAKALA BRANCH, OPP TO WESTERN EXPRESS HIGHWAY
ANDHERI (E) MUM: 69.
INFORMATION PROVIDED BY: SALES MANAGER ROY.

BIBLIOGRAPHY
WEBSITES OF
 WWW.INGVYSYALIFE.COM
 WWW.GOOGLE.COM
BOOKS REFERRED
IC-33 ISSUED BY IRDA

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