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Chennai, Nov 21 ING Vysya Life Insurance intends to bring in another Rs 150 crore of capital before March 2008, sources in the company told Business Line today.

At present, the company has a capital base of Rs 790 crore. The company earned first premium income of about Rs 250 crore in the first half of the current year, compared with Rs 187 crore in the same period last year.

The insurance company today announced the launch of a policy meant to pre-fund children’s higher education. The unit-linked savings plan, called ING Creating Star Education Guarantee Plan, envisages monthly or flexible payment into the scheme.

Three payouts, in fixed percentages, are made prior to maturity, which should come in handy to pay for the child’s higher education. In case the proposer dies before the payment period is complete, the insurance company will pay the future premiums and the policy will continue with the same benefits to the child.

The policy offers an option to choose from five funds.

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