Mumbai: ING Vysya Life Insurance (IVL) has kick-started its life insurance operations with the launch of three products. The Bangalore-based company has, on 18 September, launched the products simultaneously in Bangalore, Mumbai and Delhi.
The products – 'Reassuring Life Endowment Plan,' 'Maximising Life Money Back Plan,' and 'Fulfilling Life Anticipated Whole Life Plan,' essentially endowment, money-back and whole-life plans respectively – are targeted to meet specific customers needs. IVL chairman K L V Subrahmanian said these products provide a combination of protection, wealth accumulation and liquidity.
The company announced that it would be targeting combined sales of about two million insurance policies in its first 10 years of operations in the country. It also expects to break even in the sixth year of its operation.

IVL is the first life insurance venture to be headquartered in Bangalore and along with Mumbai and Delhi, it plans to extend operations in a systematic manner all over the country.

Vysya Bank Ltd and ING International BV, a member of the Barings Group, which is one of the biggest names in the global insurance industry and has $585 billion in assets under its control, promote IVL.