mumbai private insurance company ing vysya life on thursday announced the launch of two new insurance products ing term life and ing term life plus both the products offer flexibility to choose premium paying terms between 10 years and 30 years the minimum age of the individual should be 18 years and the maximum age limit is 65 years for both the products similarly the maximum maturity age is capped at 75 years for both the plans in case of ing term life the minimum sum assured you can opt for is rs 10 lakh the customers can opt for paying a single premium or limited premium or regular premium terms if a 35 year old male chooses a sum assured of rs 2000000 and a policy term of 20 years he will have to pay a regular premium of rs 6249 every year if he opts for limited premium it would amount to rs 18402 per annum for a 5 year payment term the single premium for this customer would be rs 81062 for ing term life plus plan the minimum sum assured you can opt is rs 5 lakh the maximum sum assured however will depend on your eligibility if a 35 year old male chooses a sum assured of rs500000 and a policy term of 20 years he will have to pay a regular premium of rs5278 per annum if he opts for limited premium it will be rs 11127 per annum and single premium will be rs 45363for ing term life plus the company will return 40 of the regular premium if the policy holder survives half the policy term on maturity the total premiums are paid after deducting midterm benefits rider options including accidental death benefits and accidental death disability and dismemberment benefits are also available on the two plans tax benefits under section 80c and section 1010d of the income tax act 1961 act are available on both the policies