ING Vysya Life announced the launch of its new product ING Creating Star Education Guarantee Plan, a children unit linked life insurance plan to guarantee quality higher education here on Tuesday.

The plan targeted at parents with young children offers a premium protector benefit, which ensures all future premium payments are guaranteed and paid by ING Vysya Life in case the proposer’s untimely death. The plan offers systematic investment options, allowing for a structured way to pre-fund a child’s higher education programme starting with a premium of Rs 1,000 per month to Rs 50,000 per annum. It also includes flexible investment options to choose from 5 funds, debt, secure, balanced, growth and equity.

The plan ensures education payouts during key milestones in a child’s education, to support  financial responsibilities of parents.