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1. Optimizing upside potential due to Equity Participation Not only will this plan invest in equity and bring you the gains from
the markets, it will also ensure that gains that are made are locked-
This plan provides you with the growth potential that comes from
in with a minimum 80% assurance. Every time the NAV of the
investing in shares that comprise Nifty 50 (NSE CNX S&P Nifty
Guaranteed NAV Fund hits a new high, 80% of that NAV per unit
Index). ING Life on every day basis will monitor the equity market
is guaranteed (referred as Guaranteed NAV or G-NAV). From there
development and increase allocation to the equity market (up to a
on, irrespective of the volatility in the market you are assured of the
maximum of 60%) when times are good and will reduce (up to 0%)
G-NAV per unit at all times and not just at maturity. ING will reset
allocation to equities when markets are volatile. This active daily
this G-NAV on a daily basis and once the G-NAV is set it can go up
asset allocation ensures that your gains are maximised and at the
and never go down.
same time protecting such gains from eroding.
The below graph explains that in a rising market when the Daily NAV is higher the customer gets the maturity benefits at the Daily NAV.
For example, if the Daily NAV on maturity is at 38 and the G-NAV is 30.4, you are still assured of receiving the maturity benefits at the Daily NAV
of 38. ING manages the Guaranteed NAV fund through a dynamic asset allocation process which ensures that your guarantee is available to
you at all times and all benefits paid to you are at higher of the prevailing NAV (referred to as Daily NAV) or the last Guaranteed NAV.
3. Protects your savings from the uncertainties of the market 4. Limited Premium Payment Term
ING Market Shield - a Unit Linked Insurance Plan weathers all market We understand that you need to make a careful commitment when
conditions. As long as the markets are going up you will continue you are planning your investments and therefore this plan comes
to participate in that growth, but in case the markets fall and the with a variety of Premium Paying Terms. You can choose to make
Daily NAV goes below your last Guaranteed NAV, you do not need premium contributions for just 5 years or 10 years while your plan
to worry as you are still assured of the value based on the last continues for the full duration as selected by you. Alternatively, you
Guaranteed NAV. can choose to make premium payments throughout the policy term
by choosing a regular pay option. We urge you to make a careful
decision, as once you make a commitment it is important to keep it,
else you may not reap the desired objective of buying this plan.
The above graph explains that in a falling market if the Daily NAV is lower than the Guaranteed NAV, the customer gets the maturity benefits
at the Guaranteed NAV.
For example the Daily NAV is at its highest at 42 and if on the date of maturity the Daily NAV falls to 30, you are still assured of receiving the
maturity benefits at the G-NAV of 33.60 which is 80% of the highest NAV of the Fund.
Enjoy better returns with equity participation;
Secure your investments throughout the term and not just
on maturity.
Other Key Benefits: • Every Top-up premium shall have an Additional Sum Assured
which will be 1.25 times of the Top-up premium paid. This
1. Death Benefit
Additional Sum Assured on Top-up will be in addition to the Basic
In case of unfortunate demise of the Life Assured during the Sum Assured.
policy term, the nominee shall receive higher of the Sum Assured
• Top-ups will not be allowed during the last 5 years of the policy
or 105% of the premiums paid, including Top-up premiums (if any),
term.
(reduced by partial withdrawals if any made during the 2 years
immediately preceding the date of death) or Special Fund Value and • No Top-up premiums will be accepted where regular premiums
the policy shall stand terminated. are due, even during the grace period.
Even in this the case of death, the nominee will get the benefit of • Top-up premium cannot be withdrawn in a period of five years
guarantee as the Special Fund Value will be calculated based on the from the date of receipt of the respective Top-up premium.
higher of the Daily NAV or the G-NAV. • The maximum amount of Top-up premiums allowable shall be
Note: The Sum Assured is the Basic Sum Assured and the Additional subject to applicable underwriting guidelines.
Sum Assured on Top-up premium (if any). • The applicable G-NAV on Top-up Premium shall be the G-NAV
declared from the date following the date of receipt of Top-up
2. Maturity Benefit
premium(s).
On the Maturity Date you will receive the Special Fund Value as a
4. Liquidity in the form of Partial Withdrawal Benefit
lumpsum.
In case of any interim financial goal or emergencies you are offered
The Special Fund Value would be calculated based on the higher of
the liquidity to withdraw from your fund at any point of time after
the Daily NAV or the G-NAV.
completion of 5 Policy Years. The Partial Withdrawals are subject to
3. Option to add Top-ups the following conditions:
At any point of time if you wish to increase your contribution, you • Partial Withdrawal is available for a minimum amount of
can pay Top-up premiums to invest in the same policy, subject to the ` 5,000 and a maximum amount equal to 25% of balance in
following conditions: the Special Fund Value, subject to Special Fund Value after each
• The minimum Top-up amount is ` 5,000 and the maximum is such withdrawal not being less than 1.5 times the one full years’
` 8 lacs. annual regular/limited premium.
• Unlimited number of partial withdrawals can be availed during 2. Decide the Premium Paying Term of your policy.
the policy term.
3. Your premium after deduction of the Premium Allocation Charge
• The policyholder will be allowed to make any Partial Withdrawals will be invested in the Guaranteed NAV Fund at the applicable
from the Top-up contributions only after completion of 5 years
Daily NAV.
from the date of remittance/realization of Top-up contribution.
4. Mortality and Policy Administration Charges will be deducted on
• Partial Withdrawals are calculated by cancellation of appropriate
a monthly basis by cancellation of units.
number of units on the higher of the Daily NAV or the G-NAV.
• Partial withdrawal Benefits are not allowed during the minority 5. In the unfortunate event of death of the Life Assured during the
of the Life Assured. term of the policy, the nominee shall receive the Death Benefit.
• The Partial Withdrawals made during the 24 months preceding 6. At maturity, the Special Fund Value will be paid to the policyholder
the date of death, shall be reduced from the Death Benefit as a lumpsum.
payable under the policy.
Note: The objective of a life insurance is long-term financial security.
5. Surrender Benefit
In case you fail to pay your due premiums on time or during grace
The importance of availability of cash in some emergencies cannot period, you shall be given a period of 45 days from the end of grace
be denied, therefore, we provide you with a facility to surrender the period to restore the policy in accordance with the IRDA regulations,
policy during the policy term. In case the policy is surrendered during failing which the policy shall stand terminated. Therefore we urge you
the initial 5 years from the Policy Commencement, the Surrender
to pay your premiums on time to achieve your long-term objectives
Benefits shall be payable to the policyholder only after completion of
for taking this policy.
5 full policy years. On surrender after 5 years, the Special Fund Value
is paid immediately and the policy is terminated. The Surrender Value How does the Guaranteed NAV (G-NAV) Fund work?
would be calculated on the higher of the Daily NAV or the G-NAV. For
The G-NAV Fund aims to provide the policyholders the protection
details please refer to Clause 7 of the Terms and Conditions on policy
of 80% of the highest NAV achieved during the life of the policy.
discontinuance provisions mentioned herein.
A dynamic asset allocation process is used to allocate the funds
How does the Plan Work?
exposure between Risky Assets (Equities) and Risk Free Assets (Money
1. Choose the premium amount that you wish to invest in the plan Market Instruments and Cash). In general.
every year which shall determine the Sum Assured under the policy.
• In good market conditions the G-NAV Fund exposure to equities will increase.
• In bad market conditions the G-NAV Fund will increase its exposure to Money Market Instruments and Cash and reduce the exposure to
equities until the markets improve.
The G-NAV Fund allows the investor to capture the upsides from rising markets while limiting potential losses in falling markets.
In case of exceptional circumstances, the equity exposure of the Fund may fall to zero, in which period we will not charge any Guarantee Charge.
Eligibility Criteria
Fund Management Charge is a charge levied on a daily basis as a We would suggest you to read the following Terms & Conditions
percentage of the value of assets held in the Guaranteed NAV Fund before purchasing the policy:
at the time of computation of the Unit Price. The Fund Management
Charges applicable, at present, are as follows: 1. Free Look Period: In case you disagree with any of the terms
and conditions of the policy, you have the option of cancelling
Fund Name % of Fund Value (per annum) the policy by writing to the Company stating the reasons for
Guaranteed NAV Fund 1.10% cancellation and return of the original policy document to the
Company within 15 days of the date of receipt of the policy
The Company reserves the right to change the Fund Management Document. In case of such cancellation, the premiums you have
Charge, with the approval of the Regulatory Authority, provided paid will be refunded after adjusting for movement in unit prices
however, that the Fund Management Charges shall not exceed the at the higher of the Daily NAV or the G-NAV and deducting the
cap on Fund Management Charges as determined by the Regulatory medical examination fees, stamp-duty and proportional charges
Authority from time to time. towards risk cover (if any).
Policyholder will be eligible for tax benefits under section 80C Guaranteed NAV or G-NAV means the Unit Price equivalent to
and section 10(10D) of the Income Tax Act, 1961, subject to the 80% of the highest achieved Daily NAV per unit of the Guaranteed
provisions contained therein. NAV Fund and is reset on a daily basis on all working days.
• Under section 80C, you can save up to ` 30,900 from your tax
each year (assumed at the highest tax bracket) as premiums up to The following hypothetical example explains the G-NAV and
`100,000 are allowed as deduction from your taxable income. the Daily NAV and the G-NAV at all times is 80% of the highest
achieved NAV of the Fund.
• Under section 10(10D), the benefits you receive from this policy
are exempt from tax. Period Day 1 Day 2 Day 3 Day 4 Day 5
Daily NAV 10 9.7 9.5 9.2 10.4
The aforesaid tax benefits are subject to change in tax laws. Guaranteed
We therefore urge you to carefully analyze the tax benefits/tax NAV 8.0 8.0 8.0 8.0 8.3
9. Unit Price Calculation: Unit Price means the price of the Units liabilities and provisions, if any.
of each Unit Linked Fund arrived at by dividing the Net Asset When the Unit Linked Fund is a net seller of assets; the NAV
Value per unit of the Unit Linked Fund by the total number of shall be computed as: Market value of investment held by the
outstanding units in the Unit Linked Fund. fund less the expenses incurred in the sale of the assets plus the
value of any current assets plus any accrued income net of fund
The term NAV in this document refers to the Unit Price.
management charges less the value of any current liabilities and ULIP plans are different from the traditional insurance products
provisions, if any. and are subject to risk factors.
The unit price for each business day to be declared / recorded at • ING Vysya Life Insurance Company Limited is only the name of
the end of each business day. The unit price shall be computed the Insurance Company and ING Market Shield Plan is only the
to four decimal points. The unit price of the units declared by the name of the ULIP contract and does not in any way indicate the
Company is net of fund management charges. quality of the contract, its future prospects or returns.
The value of the benefits payable in respect of a claim, requests • The names of the Unit Linked Fund do not in any manner indicate
for switch / redirection / surrender / partial withdrawal received the quality of the Unit Linked Fund or their future prospects
before 3 P.M. on any business day will depend on the number of or returns.
units and the Unit Price of the respective funds as on such date.
Any claim intimation, requests for switch/redirection/surrender/ • Investments in ULIPs are subject to market and other risks and
partial withdrawal received after 3 P.M. on any business day will there can be no assurance that the objectives of the Unit Linked
be processed based on the unit price declared on the immediately Funds in the ULIP will be achieved.
following business day.
• The premiums paid in ULIP policies are subject to investment risks
In respect of premiums (other than premiums paid by ECS, associated with capital markets and the unit price of the units
Standing Instructions or Auto Debit) received before 3 P.M. on may go up or down based on performance of fund and factors
any business day, the unit price as on the date of receipt of such influencing the capital market and the insured is responsible for
premium shall be applicable and premiums received after 3 P.M. his/her decisions.
on any business day will be processed based on the unit price
• Under exceptional circumstances the fund manager may decide
declared on the immediately following business day. In respect of
to invest entirely (100%) in money market instruments to protect
premiums paid by ECS, Standing Instructions or Auto Debit, the
the gains under Guaranteed NAV Fund.
unit price as on the date of realisation shall be applicable.
• Past performance of the Unit Linked Fund and other funds of
10. Policy Loan
the Company is not indicative of future performance of any of
There is no loan facility available in this policy.
these funds.
11. Risk Factors: • The ULIP does not offer a guaranteed return other than what
is specifically assured under this product and investment risk is
• ING Market Shield a Unit Linked Insurance Plan is a
borne by the policyholder.
non-participating Unit Linked Life Insurance Product (ULIP).
• The premiums and funds are subject to certain charges related to 2 Any person making default in complying with the provisions
the fund or to the premiums paid. of this section shall be punishable with fine which may extend
to five hundred rupees.
• Please know the associated risks and the applicable charges, from
your insurance agent or the Intermediary or policy document of Section 45 – Non Disclosure
the insurer.
Under the provisions of section 45 of the Insurance Act, 1938,
• The purpose of this Brochure is only to provide a general the Company is entitled to repudiate the policy on the ground
overview about this policy. The information herein is indicative that a statement made in the proposal or in any report of a
of the terms, conditions, warranties and exceptions contained in medical officer or referee or friend of the insured or any other
the policy terms and conditions of ING Market Shield - a Unit document leading to the issue of the policy was inaccurate
Linked Insurance Plan. For more details on risk factors, terms and or false, before the expiry of 2 years from the effective date
conditions please read Sales Brochure carefully before concluding of the policy, and thereafter that if such false or inaccurate
a sale. statement was related to a material matter or suppressed facts
which it was material to disclose and that it was fraudulently
• In the event of any inconsistency/ambiguity between the terms
made by the policyholder and that the policyholder knew at
contained herein and the policy terms and conditions, the policy
the time of making it that the statement was false or material
terms and conditions shall prevail.
to disclose.
12. Section 41 - Prohibition of Rebate:
To know more about this product, please contact our nearest Branch Office.
Or call us at 1-800-419-8228 or SMS ING to 53636 or visit www.inglife.co.in