ING introduces new no-lapse death benefit guarantee universal life insurance product

August 2, 2006 Minneapolis, MN Share: Print Subscribe to Email Alerts

ING announced today that it has introduced a new universal life product with a no-lapse death benefit guarantee. Known as ING Guaranteed Death Benefit Universal Life (ING GDBUL), the product aims to be a highly competitive, death benefit-oriented universal life insurance product with flexible no-lapse death benefit guarantees up to a lifetime. The product (policy form1172) is offered through Security Life of Denver Insurance Company, a member of the ING family of companies.

No-lapse death benefit guarantee products are designed to provide policy owners a guarantee of life insurance coverage, if certain conditions are met, even if the policy’s net cash value falls below zero, regardless of changes in interest rates, expense charges or cost of insurance.

ING GDBUL offers the option to customize the duration of a no-lapse death benefit guarantee period up to one’s lifetime. The no-lapse death benefit guarantee is also available for all issue ages and, at any time, policy owners can utilize a catch-up feature that can extend the guarantee period.

“ING GDBUL offers producers and their clients a terrific all-around life insurance product,” said Jim Gelder, president of ING Life Distribution. “ING GDBUL combines extremely robust features, including flexible no-lapse death benefit guarantees, with very competitive pricing and underwriting. Individuals are also responding to the well-recognized ING brand, making it even easier for producers to offer this product.”

Other ING GDBUL highlights include:

  • Target premiums approximately equal to level pay Guaranteed Death Benefit premiums.
  • Expanded underwriting classes to include a Select No Tobacco Class.
  • No premiums due after age 100*.
  • Full compensation for ING term conversions to ING GDBUL during the first five policy years.

For more information about ING GDBUL, life insurance producers should contact their ING representative or ING’s National Sales Support Team at 866-ING-SELL.

*Current policy charges do not cease at age 100; only the Lapse Protection Value (LPV) charges. Premiums are not required (for policies with no loans, withdrawals or other changes) if the LPV or Cash Surrender Value is greater than $1.00 at age 100. Current monthly deductions cease at age 121.

All guarantees are based on the financial strength and claims-paying ability of Security Life of Denver Insurance Company, which is solely responsible for all obligations of its policies.

Press inquiries

ING U.S. Financial Services
Philip Margolis, 860-723-4783,

About ING

ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in over 50 countries. With a diverse workforce of about 115,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

In the U.S. (NYSE: ING), the 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, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 15 million customers across the nation. For more information, visit