ING Vysya Life Insurance - ING Market Shield

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ING Market Shield from ING Vysya Life Insurance is a unit-linked insurance plan (Ulip) that offers you the highest net asset value (NAV) guarantee on a daily basis over the term of the policy. Unlike other NAV-guaranteed products, however, the policy guarantees only 80 per cent of the highest NAV achieved with a maximum of 60 per cent exposure to equity—making it function more like a balanced fund.

Guaranteed NAV fund.

The fund has the mandate of investing 0-60 per cent in equities and 40-100 per cent in money market instruments and cash. In rising market conditions, the fund exposure to equities increases and in declining market conditions, the fund increases its debt exposure until markets improve. If the equity exposure of the fund falls to zero, in that period no guarantee cost is charged.

Death Benefits. This is a Type I policy, which pays the greater of the sum assured or the fund value. Moreover, to protect the downside, the insurance regulator has, recently, made mandatory that death benefit should not be less than 105 per cent of the premium paid in all cases.

Partial withdrawals and loans. You are allowed to make partial withdrawals after five years for a minimum amount of Rs 5,000 and a maximum amount equal to 25 per cent of the balance in the fund, provided after each withdrawal the balance in fund is not less than 1.5 times the annual regular premium.

Cost. For a 35-year-old male, paying annual premiums of Rs 50,000 for 15 years for a sum assured of Rs 10 lakh (20 times the premium), the policy will pay Rs 9,69,389 and Rs 13,59,311 at an assumed growth rate of 6 per cent and 10 per cent, respectively. The net yield comes to 3.14 per cent and 7.13 per cent (after deducting mortality), respectively.

Conclusion. ING Market Shield has a mandate to invest from 0-60 per cent in equities. Given the fact that most of your investments could be in debt and there is restricted equity exposure, do not expect very high return from the product. It is good for those policyholders who want some exposure to stock market without risking their initial capital.

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