Home BusinessING Life aims 15% growth in new biz premiums
Aiming to break even in the next three years, ING Life is targeting a 15 per cent increase in its new business premiums, a top company official today said.
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ING Life, a part of the ING Group, has launched five new customer centric unit linked insurance products (ULIPs) on Jan 1 and was hoping to sell about 30,000 products per month nationally, the company"s Chief Operating Officer Ashwin B told reporters here.
The new ULIPs would increase the yield of the customers as charges on the products have been reduced and significant loyalty additions have also been made, thus making it very attractive, he said.
The company has also introduced two new funds and "pre defined" strategies to help customers choose their investment approaches.
Customers can also enjoy loyalty additions to their funds up to 275 per cent of their initial allocation charges, he said.
The new ULIPs are -- New Creating Star, New Prime Life, Freedom Plan, Future Perfect and Golden Life. It has also launched two new funds--ING Prime Equity where 100 per cent funds would be invested in equity instruments and ING Preserver where 100 per cent of the funds would be invested in debt instruments, both at an NFO of Rs 10.
Besides, two pre-defined investment strategies — ING Prudent and ING Enhancer — for customers were also announced.