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ING Vysya Life Insurance India & Career Plan: As the population of India is growing the number of candidates searching for job are increasing day by day. Its too tough to job in fastest growing sector like life Insurance industry. So, In order to make your job search easy we have update following article which will help to know and detailed overview of ING Vysya Life Insurance India. The following article will not only help to get to know about this company but to secure a job in this organization.
ING Vysya Life Insurance India & Career Plan
ING Vysya Life Insurance India is a famous provider of life insurance products and services in India. It has been providing services to millions of customers and more from the last ten years. Totally fifty percent of its shares are owned by Exide Industries. And 26 percent of ING’s shares are held by ING Insurance International BV and the remaining are owned by shareholders from India. The products of this company are distributed through the following mediums as follows:
- Tied Agencies
- Alliances
- Bancassurance partners
The Tied Agency medium consists of at least 30 thousand advisers of ING Life who operate all around India. ING Life is steadily increasing its network of insurance partners and also uses referral partners, brokers, and corporate agents to advertise its products and services.
Management Body of ING Life Insurance India
The Board of Directors at ING Life are below:
| Name | Designation |
| Rajan Raheja | Chairman |
| Kshitij Jain | CEO and Managing Director |
| Satish Raheja | Director |
| NN Joshi | Director |
| Douglas Caldwell | Director |
| Rajesh Kapadia | Director |
| Frank Koster | Director |
| AK Mukherjee | Director |
The Executive Team of the organization is as follows:
| Name | Designation |
| Kshitij Jain | CEO and Managing Director |
| B Ashwin | Chief Operating Officer |
| Rahul Agarwal | Chief Distribution Officer |
| Uco Vegter | Chief Financial Officer |
Financial Details of ING Life Insurance India
Financial highlights for the first quarter of the 2012-13 fiscal for ING Life is given below:
| Domain | Figures in INR Thousands |
| Premium earned | Rs. 2,715,975/- |
| Income from interest, rent, and dividend – gross | Rs. 878,289/- |
| Profit on redemption and sale of investments | Rs. 606,371/- |
| Miscellaneous income | Rs. 8,703/- |
| Contribution from shareholders’ account | Rs. 157,560/- |
| Commission | Rs. 169,684/- |
| Operating costs for insurance business | Rs. 1,089,673/- |
| Benefits paid (net) | Rs. 2,132,941/- |
| Interim bonuses paid | Rs. 440/- |
| Opening balance in funds for discontinued policies | Rs.23,290/- |
| Transfer to funds for discounted policies | Rs. 28,371/- |
| Opening balance in funds for future appropriation | Rs. 68,471/- |
| Surplus transferred to balance sheet | Rs. 41,084/- |
ING Life Insurance India Products and Services
The products provided by of ING Life Insurance are as follows:
Plans for Children
- ING Aashirvad
- Creating Life Money Back Plan
- Creating Life Child Protection Plan
Protection Plans
- ING Term Life Plus
- ING Term Life
Savings Plans
ING Secured Income Insurance Plans New
- ING Secured Income Insurance RP
- ING Secured Income Insurance Plus
- Reassuring Life Endowment Plan (Recessionary Bonus)
- ING Creating Star Guaranteed Future
- Safal Jeevan Endowment Plan
Retirement Plans
Investment Plans
- ING STAR Life
- Uttam Jeevan – Regular Premium
- Prospering Life SP
- Uttam Jeevan – Single Premium
- Market Shield
- Powering Life
- ING Prospering Life
- New Fulfilling Life
Riders
- Accidental Death Rider
- Critical Illness Rider
- Accidental Death, Disability and Dismemberment Rider
- ING Critical illness Limited Pay Rider
- Term Life Rider
ING Life also offers various other services to its customers as mentioned below:
- Renewal reminders
- Grievance redressal
- Customer information services
Planning Tools offered by ING Life Insurance India
ING Life offers following tools given below:
- Child Calculator
- Investment Needs
- Minimum Insurance Needs
- The Financial Horoscope
- Savings Needs
- Premium Calculator
- Retirement Needs
News about ING Life Insurance India
ING Life, working with Bangalore Metro Rail Corporation Limited (Namma Metro) has recently introduced an initiative named Life in a Metro. The program was started at the Namma Metro Insurance Awareness Event.
The main motto of the program was to get access to people who commute on a daily basis using the Namma Metro facilities. and create awareness about importance of saving for future and protect it as well. ING also set up many interactive activities to engage the commuter. To boost participation they even provided prepaid Namma Metro passes valued at Rs 1000/- each. The program took place from 9 to 19 March 2012.
Mr. Mohit Goel, the EVP Marketing of ING Life Insurance had said that Namma Metro was already an approved mode of transport for Bangalore residents. ING Life Insurance has also recently handed its advertising duty to Law & Kenneth. The procedure for this deal was started from October 2011 and its main purpose was to develop a strategic associate who could help realize the growth plans of ING with its consumer. Goel has said that the process to find the advertising partner has been a powerful and fulfilling one.
He also said that ING chases a different policy that consider factors like capability levels and creative production. Goel has suggested comfort at the expertise that Law & Kenneth have in areas like strategy and planning.
In 2012 ING has also bought 3 new insurance products in market – ING Secured Income Insurance Plan, ING Critical Illness Rider, and ING STAR Life.
The ING Secured Income Insurance Plan is basically a fund policy that offers long term benefits for the insured and his or her family. This plan also provides a regular income in case anything unfortunate happens to the insured. This plan has mainly two branches – Secured Income Insurance Plus plan and Secured Income Insurance Pay plan.
The ING STAR Life support life cover and tax exemption service. The premium payment duration of this plan is 3 years but the advantages of this plan are available for a period of 12 years.
The ING Critical Illness Rider support the policyholders a round sum in case they are found to have any critical illness covered under the program. There are two types of this program – Limited Premium Payment Term and Regular Premium Payment Term. This policy provides provides coverage for 4 to 25 critical disease.
Contact Details & Locations of ING Life Insurance India Office
The Organizations headquartered in Located in Bangalore and it operated in more than 200 cities around the World.
We hope that our article about ING Vysya Life Insurance India & Career Plan will surely help you.
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