ING introduces new indexed universal life product that uses multiple stock market indexes from around the globe
ING announced today that it will introduce a new indexed universal life insurance product that will offer interest crediting based on an indexed strategy option that includes two non-U.S. stock market indexes. Named ING Indexed Universal Life-Global (ING IUL-Global), and issued by Security Life of Denver Insurance Company, the product offers policy holders valuable death benefit protection and the choice of a fixed interest strategy or an indexed strategy. The indexed strategy credits interest based upon a formula that uses a portion of the two better-performing of three indexes (S&P 500 Index, the EuroSTOXX 50 Index, and the Hang Seng Index) looking back over a five-year period.
“ING IUL-Global’s indexed strategy offers both the potential to capture some upside from the best two of three indexes, with the downside protection of a 1% per-year guaranteed minimum interest rate,” said Daniel Mulheran, president of ING U.S. Retail Life Distribution. “It is a great product for those who need life insurance and are looking for potential cash accumulation, supplemental retirement income, executive benefits or are interested in financing their premiums.”
Indexed universal life has the potential for higher interest than a more traditional universal life insurance product, yet there is more cash-value protection against market declines than variable universal life (VUL) through a guaranteed minimum interest rate. The three-index strategy offered in ING IUL-Global could provide greater cash accumulation than using just the fixed or single-index strategies found in other products. The five-year look-back period may also help reduce volatility associated with year-to-year index changes.
The fixed strategy of ING IUL-Global earns interest based upon a current credited interest rate declared by Security Life that will be in effect for at least the first 12 months. At each policy anniversary, the rate may vary, but it will never be less than the guaranteed minimum interest rate of 2% per year. Policy holders can choose between the fixed strategy, the indexed strategy, or use a combination of the two.
ING IUL-Global features include
Three death benefit options
Waiver of Surrender Charge Rider (used in traditional premium finance cases only)
Accelerated Benefit Rider
Overloan Lapse Protection Rider
For complete information about ING IUL-Global, contact ING Life Sales Support at 1-866-ING-SELL.
While policy values may be affected by external indexes, the ING IUL-Global policy is not an investment in the stock market and does not participate in any index fund, stock or equity investments. This product is not designed to be an investment vehicle. ING IUL-Global is not a variable product or any type of investment contract.
Phil Margolis, ING, 580-580-2676 or firstname.lastname@example.org
ING is a global financial institution of Dutch origin 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 110,000 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 include 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 www.ing.com/us.
ING Indexed Universal Life-Global, policy form series #1180-12/09 with an equity indexed feature, varies by state and may not be available in every state. It is issued by Security Life of Denver Insurance Company, a member of the ING family of companies. Not available in New York. The index cap and index participation rate are subject to change for new index blocks. All guarantees are based on the financial strength and claims-paying ability of Security Life of Denver Insurance Company, which is solely responsible for the obligations under its own policies. Neither ING nor its affiliated companies and representatives offer legal or tax advice. You should consult tax and legal advisors regarding your individual situation.
EURO STOXX 50 Index – An index of blue-chip stocks that are represented by 50 stocks covering the largest sector leaders in the EURO STOXX 50 index. It does not reflect dividends payable on the underlying stocks. The EURO STOXX 50 index is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland, and/or its licensors (“Licensors”), which is used under license. The ING Indexed Universal Life-Global insurance policy is based, in part, on the Index and is in no way sponsored, endorsed, sold or promoted by STOXX and its Licensors and neither of the Licensors shall have any liability with respect thereto.
Hang Seng Index – An index of the largest and most liquid stocks listed on the Stock Exchange of Hong Kong. It does not reflect dividends payable on the underlying stocks. The Hang Seng Index (the “Index”) is published and compiled by Hang Seng Indexes Company Limited pursuant to a license from Hang Seng Data Services Limited. The mark and name “Hang Seng Index” are proprietary to Hang Seng Data Services Limited. Hang Seng Indexes Company Limited and Hang Seng Data Services Limited have agreed to the use of, and reference to, the Index by Security Life of Denver Insurance Company (“Security Life”) in connection with this indexed universal life insurance policy (the "Policy”), BUT NEITHER HANG SENG INDEXES COMPANY LIMITED NOR HANG SENG DATA SERVICES LIMITED WARRANTS OR REPRESENTS OR GUARANTEES TO ANY BROKER OR HOLDER OF THE POLICY OR ANY OTHER PERSON (i) THE ACCURACY OR COMPLETENESS OF THE INDEX AND ITS COMPUTATION OR ANY INFORMATION RELATED THERETO; OR (ii) THE FITNESS OR SUITABILITY FOR ANY PURPOSE OF THE INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT; OR (iii) THE RESULTS WHICH MAY BE OBTAINED BY ANY PERSON FROM THE USE OF THE INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT FOR ANY PURPOSE, AND NO WARRANTY OR REPRESENTATION OR GUARANTEE OF ANY KIND WHATSOEVER RELATING TO THE INDEX IS GIVEN OR MAY BE IMPLIED. The process and basis of computation and compilation of the Index and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by Hang Seng Indexes Company Limited without notice. TO THE EXTENT PERMITTED BY APPLICABLE LAW, NO RESPONSIBILITY OR LIABILITY IS ACCEPTED BY HANG SENG INDEXES COMPANY LIMITED OR HANG SENG DATA SERVICES LIMITED (i) IN RESPECT OF THE USE OF AND/OR REFERENCE TO THE INDEX BY SECURITY LIFE IN CONNECTION WITH THE POLICY; OR (ii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES OR ERRORS OF HANG SENG INDEXES COMPANY LIMITED IN THE COMPUTATION OF THE INDEX; OR (iii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES, ERRORS OR INCOMPLETENESS OF ANY INFORMATION USED IN CONNECTION WITH THE COMPUTATION OF THE INDEX WHICH IS SUPPLIED BY ANY OTHER PERSON; OR (iv) FOR ANY ECONOMIC OR OTHER LOSS WHICH MAY BE DIRECTLY OR INDIRECTLY SUSTAINED BY ANY BROKER OR HOLDER OF THE POLICY OR ANY OTHER PERSON DEALING WITH THE POLICY AS A RESULT OF ANY OF THE AFORESAID, AND NO CLAIMS, ACTIONS OR LEGAL PROCEEDINGS MAY BE BROUGHT AGAINST HANG SENG INDEXES COMPANY LIMITED AND/OR HANG SENG DATA SERVICES LIMITED IN CONNECTION WITH THE POLICY IN ANY MANNER WHATSOEVER BY ANY BROKER, HOLDER OR OTHER PERSON DEALING WITH THE POLICY. Any broker, holder or other person dealing with the Policy does so therefore in full knowledge of this disclaimer and can place no reliance whatsoever on Hang Seng Indexes Company Limited and Hang Seng Data Services Limited. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker, holder or other person and Hang Seng Indexes Company Limited and/or Hang Seng Data Services Limited and must not be construed to have created such relationship.
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 500,” “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. 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.