Chennai, Nov 21: Leading financial service provider ING Vysya today announced the launch of its new product 'ING Creating Star Education Guarantee Plan Scheme' aimed at parents with young children.
Talking to newspersons here, Company Director (Sales) T K Uthappa said the unit linked savings plan targeted at parents with young children, offers a systematic and hassle-free way to pre-fund a child's higher education programme.
The plan secures a child's education fund by protecting future premimum payments, in case any unfortunate event occurs with the proposer, he said.
The plan also ensures education payouts during key milestones in a child's education, so that financial responsibilities of the parents were taken care of.
"Three education payouts are made prior to maturity", he said adding fund value of 20 per cent, 30 per cent and 50 per cent, are paid out during the policy term and the balance could be paid only on maturity.
Mr Uthappa said this plan option would allow a structured way to pre-fund a child's higher education programme starting at Rs 1,000 per month.
"It also includes flexible investment options with the option to choose from five funds such as debt, secure, balanced, growth and equity, which helps the customers manage their funds effectively", Mr Uthappa claimed.