ING Vysya Life Insurance launches ING Positive Life Unit Linked Insurance Plan

Company News

Bangalore, August 08

ING Vysya Life Insurance today announced that it has launched ‘ING Positive Life’, a Unit Linked Saving Solution. This product is in line with the company’s customer centric approach as it comes with simple documentation and quick processing of the policy.

Key highlights include:

Flexible premium paying options

No medical underwriting

Flexible investment options

Systematic Investment benefit

Partial withdrawal option

ING Positive Life (the “Plan”) is targeted at the regular savings segment. The plan is flexible so that it suits the profile of an individual customer from the ages of 0 to 50 years. It allows the customer to enter the plan for as low as Rs. 834/- per month. The convenient policy terms of 10, 15 or 20 years allows one to match his/her life goals to the policy terms. There is flexibility of premium paying term from a minimum of three years to the policy term.

The plan allows a customer to manage his/her investments and also serves as a Systematic Investment Plan (SIP) mode of investment. The premiums paid can be invested in a choice of five fund options i.e. Debt, Secure, Balanced, Growth or Equity Fund based on an individual’s risk appetite. During the policy term, the customer has an option to switch between these funds, or redirect future premiums into the available options.

The plan also offers liquidity when needed by allowing one partial withdrawal each year after the fifth policy year. On maturity the fund balance available is paid. The maturity proceeds can also be distributed over a five year period. In the eventuality of the death of the policy holder the sum assured or fund value is paid to the beneficiary which ever is higher.

Mr. Kshitij Jain, Managing Director & CEO, ING Vysya Life Insurance stated: “ING Vysya Life aims to focus on significant customer acquisition through ING Vysya Bank network with this product, and especially in urban and semi urban areas to support its aggressive growth plans in 2007. With ING Positive Life, we will be in a position to access the 1.5 million customers of ING Vysya Bank. ING Vysya Bank at present contributes 10% of the overall business of ING Vysya Life. With the launch of Positive Life, the overall contribution is expected to further scale upwards.”

Mr. Vaughn Richtor, Managing Director & CEO, ING Vysya Bank added: ”The product will be retailed through our branch network comprising of over 400 branches. ING Positive Life is a simple product tailor-made for individual insurance needs of the bank’s customer. The offering of this product through our Bank will indeed strengthen the product range from our wealth management stable and position them better in the market, to service the growing customer needs. This would also facilitate access for ING Vysya Life Insurance products to the interior markets, where the life insurance business penetration is yet to pick up growth momentum.”

Having established itself as a strong private life insurance player in India and recently completed five full years of business operations, ING Vysya Life is now present in over 150 cities. The company currently has twenty life insurance products including seven unit linked products with the launch of ING Positive Life – which are available through its diversified distribution platform.

For further information, please contact:

ING Vysya Life

Sonia Sharma

080 2532 8000

sonia.sharma@ingvysyalife.com

Hanmer & Partners

Monika

Mobile: 9811784695

Abhash

Mobile: 9810867982