POSTED BY October 12, 2013 10:25 pm COMMENTS (3)ON
The following sentences copied from ING My Term Insurance plan brochure, under the subtitle Risk factor. i am little confused about the point ( C ).
a) ING My Term Insurance is a Non-Linked, Non-Participating Life Insurance Product
b) ING Vysya Life Insurance Company Limited is only the name of the Insurance Company and ING My Term Insurance is the name of the product
and does not in any way indicate the quality of the product, its future prospect or returns.
c) This product provides guaranteed death benefit. However the benefits are subject to all premiums being paid.
d) The purpose of this brochure is to provide a general overview about this policy. The information herein is indicative of the terms, conditions,
warranties and exceptions contained in the policy terms and conditions of ING My Term Insurance . Please refer to the policy terms and
conditions to understand in detail the associated risks, benefits, etc.
e) In the event of any inconsistency / ambiguity between the terms contained herein and the policy terms and conditions, the policy terms and
conditions will prevail.
i have chosen a base option, purely protection with death benefit and the lump-sum pay to nominee after death( no any riders)
Sum assured = Rs 59,00,000
Policy Term = 33 years
Premium payment = 5 years (limited)
Is the death benefit will be applicable after i pay all the premium? that means ” I will be left with No protection for 5 years out of 33 years ”
This is what i understand, pl correct me if i am wrong.
If it is so, then please confirm this condition apply to all term policy? if any other policy applicable with protection from immediate date of issue.
Thanks in advance…