ING New Fulfilling Life Plan Review

 

ING New Fulfilling Life Plan Review

Recently many of my friends and readers of this blog have asked me to review this plan. Basically this plan is marketed by ING as an investment plan and many of readers have asked me that should they invest in this investment plan?

So I finally decided to review this plan and I visited the website of ING Life Insurance and visit this plan.

I have download the brochure of the plan and read it carefully. I was really shocked after reading the entire brochure. Anyways, So here is my review about this plan.

- Truly speaking, this is not any kind of investment plan but it is actually a Whole Life Insurance Policy. Unfortunately, this policy has been marketed like as it is an Investment scheme. But the real thing is that, it is not any kind of investment plan but it’s the insurance cum investment product.

- When I read the brochure further, I came to know that in the brochure there was not any detail about investments. I mean if something is Investment plan than according to SEBI rules, the company MUST show in detail that where exactly they are going to invest your money (Equity, Debt, Gold or Mixed) and how the scheme will generate returns.

Sadly, this policy does not have mentioned anything about investments. So you can never know that when to exit from it? Because you don’t know how your investment performs in this policy.

Remember, that if you don’t know where your money are going to be invested and in which manner and how the scheme will generate returns than simply don’t go for that investment scheme.

- Another thing is that the policy has not mentioned anywhere that how much money will be charged to buy life insurance cover and how much will go towards long term investing and which are the various charges associated with this policy?

So in my opinion, this is a highly opaque insurance cum investment plan which is marketed as investment product. So Simply stay away from is and follow the following combination.

Term Insurance + Equity Mutual Funds + PPF

No other combination or single investment product is better than the above combination.