ING Life launches ING ACE traditional plan

February 17, 2011

Mangalore, February 17: ING Life India, in its 10th year of operations, on Thursday launched a new traditional insurance product ING ACE (Pension & Life) with features such as high guaranteed additions, limited premium pay and tax benefit under Section 80 of Income Tax Act.

Speaking at the launch, Murali L, Executive Vice President (Karnataka & Goa), said the pension variant of this insurance product offers customers an attractive guaranteed addition of 8.75 per annum throughout the 10-year term of the policy. Both variants are beneficial for customers because they need to pay premiums for only 3 years in an annual mode, and tax benefits.

He said that the product is highly attractive for people aged between 35 and 60 years, who are trying to save for their retirement. The customer can choose his/her premium while investing; moreover, the product offers guaranteed additions of 8.75 per annum of maturity sum assured, compounded every year throughout the term of the policy, while customers can pay their premiums only for 3 years.

Customers also have the option of purchasing an annuity product with the entire amount or receive a third of the lump sum and invest the balance in an annuity product. In case of death, the policy offers a guaranteed death benefit of all premiums paid, compounded at 3 percent.

Mr Murli also said that the variants of ING ACE offers customers a guaranteed addition of 7 percent or 7.75 percent per annum of maturity sum assured throughout the 10 years of the policy depending in the premium paid.

The variant offers a life cover plus a guaranteed death benefit of 5 times the annual premium paid plus the convenience of paying only 3 years of the premium. As soon as the policy matures, the customer will receive the sum assured and guaranteed additions; and in case of death, the nominee receives 5 times the annual premium amount paid, he added.

Comments

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

Flight cancellations strand passengers overnight at Mangaluru Airport

News Network

December 4,2025

Mangaluru: Chaos erupted at Mangaluru International Airport (MIA) after IndiGo flight 6E 5150, bound for Mumbai, was repeatedly delayed and ultimately cancelled, leaving around 100 passengers stranded overnight. The incident highlights the ongoing country-wide operational disruptions affecting the airline, largely due to the implementation of new Flight Duty Time Limitations (FDTL) norms for crew.

The flight was initially scheduled for 9:25 PM on Tuesday but was first postponed to 11:40 PM, then midnight, before being cancelled around 3:00 AM. Passengers expressed frustration over last-minute communication and the lack of clarity, with elderly and ailing travellers particularly affected. “Though the airline arranged food, there was no proper communication, leaving us confused,” said one family member.

An IndiGo executive at MIA cited the FDTL rules, designed to prevent pilot fatigue by limiting crew working hours, as the cause of the cancellation. While alternative arrangements, including hotel stays, were offered, about 100 passengers chose to remain at the airport, creating tension. A replacement flight was arranged but also faced delays due to the same constraints, finally departing for Mumbai around 1:45 PM on Wednesday. Passengers either flew, requested refunds, or postponed their travel.

The Mangaluru delay is part of a broader crisis for IndiGo. The airline has been forced to make “calibrated schedule adjustments”—a euphemism for widespread cancellations and delays—after stricter FDTL norms came into effect on November 1.

While an IndiGo spokesperson acknowledged unavoidable flight disruptions due to technology issues, operational requirements, and the updated crew rostering rules, the DGCA has intervened, summoning senior airline officials to explain the chaos and outline corrective measures.

The ripple effect has been felt across the country, with major hubs like Bengaluru and Mumbai reporting numerous cancellations. The Mangaluru incident underscores the systemic operational strain currently confronting India’s largest carrier, leaving passengers nationwide grappling with uncertainty and delays.

Comments