ING Vysya Life Insurance launches ING Positive Life

Mumbai, Aug 8 (UNI) ING Vysya Life Insurance today launched ING Positive Life, a unit-linked saving solution that aims to target the regular saving customers segment.

Customers can enter the plan for a premium as low as Rs 834 per month in covenient policy terms of 10, 15 or 20 years. Premiums can be invested in a choice of five fund options -- debt, secure, balanced, growth or equity fund based -- and have an option to switch between these funds during the policy term, ING Vysa Marketing Head Amit Gupta told reporters here today.

The plan also offers liquidity in investments by allowing one partial withdrawal each year after the fifth policy year.

''The product aims to focus significantly on customer acquisition through ING Vysya Bank network, especially in urban and semi-urban areas. Nearly 1.5 million customers of ING Vysya Bank, which at present contributes at least 10 per cent of the overall life insurance business, will be concentrated,'' said Company Vice President Rene Van Der Poel.

The Company has achieved its earlier set target of Rs 462 crore fresh premium in last fiscal and aims to double the margins in the current fiscal. For this, it has chalked out a strategy with a major eye on rural customer segment, which contributed 10-15 per cent to the total revenue in the last fiscal.

As on March 31, the Company's total capital base was Rs 790 crores. ING Vysa life insurance is a part of ING Vysa group that operates in over 50 countries.

UNI