ING introduces Life Insurance Capacity Calculator

May 19, 2010 Minneapolis, MN Share: Print Subscribe to Email Alerts

The ING life companies have introduced a Life Insurance Capacity (LIC) Calculator to help insurance producers estimate the maximum amount of coverage that could be in force for a given client based on the company's underwriting guidelines. Using this information, producers can work with clients to help determine their needs, including determining if the client might want to take out additional coverage to ensure his or her future insurability.

"We're continually looking for tools to help our producers help their clients," said Kurt Fasen, senior vice president and head of ING Life Sales Support. "The Life Insurance Capacity Calculator is more than a unique new online tool. It has the potential to help life insurance producers minimize financial underwriting problems while increasing life insurance sales."

The LIC Calculator estimates Life Insurance Capacity by applying the ING life companies' financial underwriting guidelines to financial information provided by client/prospect. Then it subtracts out the amount of life insurance coverage currently in force (from all insurers) to estimate how much of the total capacity could potentially be purchased today. Verification of finances may be required during the underwriting process.

The LIC Calculator may help producers avoid financial underwriting problems. Because all calculations are performed using the ING life companies' financial underwriting guidelines, it provides an estimate of the upper limit of the total life insurance coverage underwriters will likely deem appropriate for a particular person. Further, it also estimates potential coverage limits for different categories of death benefit needs, including both personal coverage and business coverage.

ING-appointed producers can access this calculator on the ING for Producers website or ING Presents. For questions, life insurance producers can call ING Life Sales Support at 866-ING-SELL.

Press inquiries:

Phil Margolis, ING Americas, 580-580-2676 or

About ING

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries. With a diverse workforce of about 108,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.

In the U.S., the ING (NYSE: ING) family of companies offer a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits and financial planning. ING holds top-tier rankings in key U.S. markets and serves nearly 30 million customers across the nation. For more information, visit

The ING life companies are represented by ReliaStar Life Insurance Company (Minneapolis, MN), ReliaStar Life Insurance Company of New York (Woodbury, NY) and Security Life of Denver Insurance Company (Denver, CO). Within the state of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. All are members of the ING family of companies.

LIC Calculator estimates are based on information provided by the client and applied to the ING life companies' financial underwriting guidelines. The estimate is non-binding and is subject to change after review of full underwriting requirements. The amount of life insurance that may be offered by the ING life companies depends on many additional factors. These factors may include the client's medical history, the type of financial documentation provided and any additional information obtained during the underwriting process. If the applicant's medical classification is assessed as "Other than Applied For," then his/her Life Insurance Capacity may require adjustment. The LIC Report does not represent a formal offer of life insurance coverage.