ING Introduces New Indexed Universal Life Insurance Products with Strong Growth Potential and Death Benefit Guarantee
ING Life Companies (ING) introduced new no-lapse indexed universal life insurance products, ING Indexed Universal Life – Guaranteed Death Benefit, issued by Security Life of Denver Insurance Company (Denver, CO) and ING Indexed Universal Life – Guaranteed Death Benefit NY, issued by ReliaStar Life Insurance Company of New York (Woodbury, NY). Both offer a guaranteed death benefit with the opportunity to earn an index credit linked, in part, to any increases in the S&P 500® 1 (subject to a maximum index credit rate cap) while also providing protection from downside risk through a minimum interest guarantee.
With indexed universal life insurance, the guaranteed minimum interest rates feature provides downside protection for poor market performance while the indexed strategy offers an upside crediting potential if markets perform well.
“Our new indexed life products can work well for clients who seek both strong growth potential to meet long-term financial needs as well as a death benefit guarantee,” said Daniel Mulheran, president of ING Life Distribution. “This product supercharges the potential for stronger long-term surrender values, giving clients financial flexibility to help meet future expenses such as college costs or retirement. The upside potential is paired with a death benefit guarantee, making these products a compelling solution for clients with a longer time horizon.”
Features of ING’s new indexed universal life insurance products include:
- Up to a lifetime (age 121) death benefit guarantee
- Minimum death benefit of $50,000
- Fixed and Indexed crediting strategies
- Protection from downside risk through a minimum interest guarantee (2% for the Fixed Strategy and 1% for the Indexed Strategy)
- A one-year Point-to-Point S&P 500® Indexed Strategy with a 12% cap
- Surrender charge period of 14 years
- Select loans that may reduce out of pocket costs (not available in NY)
- A full range of riders, including accelerated benefit rider, additional insured rider, overloan lapse protection rider and waiver of specified premium rider.
For more information, contact ING Insurance Sales Support at 866-ING-SELL, option 3.
ING U.S. is a subsidiary of Dutch-based ING Groep NV. In the U.S., the ING (NYSE: ING) family of companies offers a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, institutional investment management, annuities, employee benefits and financial planning. ING holds top-tier rankings in key U.S. markets and serves approximately 15 million customers across the nation. For more information, visit www.ing.us.
ING IUL-GDB and ING IUL-GDB NY are flexible premium adjustable universal life insurance policies that offer a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance needs. While the policy Surrender Values may be determined by reference to an Index-linked crediting strategy, such Surrender Values support the death benefit offered under the policy. These policies do not participate in any Index fund, stock or equity investments. The policy is not a variable contract or an investment contract.
ING Indexed Universal Life - Guaranteed Death Benefit, policy form series # 1185-09/11, with an equity indexed feature, varies by state and may not be available in all states (not available in New York), is issued by Security Life of Denver Insurance Company (Denver, CO). ING Indexed Universal Life - Guaranteed Death Benefit NY, policy form series # 3003-09/11, with an equity indexed feature, (only available in New York), is issued by ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the state of New York, only ReliaStar Life Insurance Company of New York is admitted and its products issued. Both are members of the ING family of companies. All guarantees are based on the financial strength and claims paying ability of Security Life of Denver Insurance Company and ReliaStar Life Insurance Company of New York who are solely responsible for the obligations under its own policies.
1 The S&P 500® (Standard & Poor’s 500® Composite Stock Price Index) is an Index of the stock performance of 500 publicly traded companies that does not reflect the dividends payable on the underlying stocks. “Standard & Poor's®," "S&P®," "S&P 500®," "Standard & Poor's 500," and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Security Life of Denver Insurance Company and ReliaStar Life Insurance Company of New York. The Policy is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the Policy.
The ING Life Companies and their agents do not give tax, legal, accounting or lending advice. This information is general in nature and you should seek advice from your tax and legal advisors regarding your individual situation.