the policyholder. The pension plan also offers guaranteed loyalty additions from the sixth policy anniversary.
INGs Golden Years Retirement Plan
ING Life Insurance has launched ING Golden Years Retirement Plan to enable customers build a retirement corpus. The plan offers multiple flexibilities to help customers plan their retirement. In addition to the regular premium, one can can pay an additional amount during the policy term (subject to product terms and conditions) to ensure the retirement fund grows faster. One has to choose from the premium payment options of regular, limited or single payment. The Individual Pension Account (IPA) grows at an interest rate declared
every year. It is determined by
the performance of the fund. However, the minimum interest rate on IPA is 5% per annum for the first five policy years and 1.5% per annum for rest of the term. One can choose to pay the premium either monthly or
annually, and one can increase
or decrease the premium payment term by keeping the
premium amount same subject to meeting the applicable minimum premium.
W Union IT platform to aid IndusInd
Western Union Business Solutions has tied up with IndusInd Bank to provide its technology platform for effecting foreign exchange payments for small and medium enterprises in India. Moreover, IndusInd Bank has further signed up two of Western Unions largest AD II licensed agents, Weizmann Forex and Paul Merchants, as referral agents to help market the service in the country. The service goes live in 22 cities across India and aims to provide doorstep service to the clients. While the larger corporate houses manage to get the best deals for their remittance transactions, it has been seen that the SME segment do not get the same level of services. We are confident that this technology offering will help us bring delight to this segment of customers, says Ramesh Ganesan, executive vice-president, IndusInd Bank.