The Hindu Business Line : ING Vysya Life Insurance declares bonus

The Vice-President and Head of Product Development Mr Y.V.D.V. Prasad, told presspersons here today, "We have earned good returns on our investments to reward our policyholders."

The three risk covers are `Power Life' (a limited payment endowment plan, where the sum assured plus accrued bonus is paid on maturity or earlier on death of life assured), `Best Years' (retirement plan with capital guarantee provisions) and `New Fulfilling Plan' (whole life limited payment policy that pays the entire sum assured during the premium payment term and continues to provide life cover and maturity benefit).

Mr Prasad said the mean yield targeted for the retirement plan was 8 per cent. As the mean yield target has been exceeded, ING has rewarded its policyholders, he added. Only about 10 per cent of the investments were in equities, he said. This target would continue as all the investments were long-term and almost entirely in government securities.

Almost the entire premium collection in all the three policies was from individuals. ING's Retirement Plan has so far collected premiums of about Rs 90 crore, he said.

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