ING introduces new survivorship universal life product designed for long-term cash accumulation

March 10, 2005 Minneapolis Share: Print Subscribe to Email Alerts

ING announced that it has introduced a new survivorship universal life product, designed for death benefit protection and long-term cash accumulation. Called ING Explorer Survivorship Universal Life, the product combines potential for cash value accumulation with a return-of-premium death benefit option (“option c”). The product is for distribution by independent insurance producers, and is issued through Security Life of Denver, an ING subsidiary.

“This product can help people looking to accumulate sizable amounts of cash while providing a survivorship death benefit,” said Jim Gelder, president of ING Life Distribution. “It is ideal for premium financing cases as well as supplemental retirement savings.”

ING Explorer SUL offers a death benefit option C (return of premium) that can be used without interest when the client is simply looking for a return of premium or with interest as a way to index a loan. The product also provides a choice between a guideline premium test and cash-value accumulation tests for determining definition of life insurance for income tax purposes. For premium financing cases, ING Explorer SUL offers a waiver of surrender charge rider for the first five policy years should the bank call the loan.

Additionally, the product offers: a split option rider, allowing the policy owner to split the policy into two individual universal life policies in the event of divorce or tax law change; preferred loans, available beginning after the 10 th policy year; continuation of coverage beyond age 100; removal of all ratings after 20 th policy year; four underwriting classes, and will cover one uninsurable life.

For more information about ING Explorer Survivorship Universal Life, life insurance producers should contact their ING representative or ING’s National Sales Support Team at 1-866-ING-SELL.

Press inquiries

ING, Phil Margolis, 860-723-4783,

About ING

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

In the U.S., the ING family of companies offers a comprehensive array of financial services to retail and institutional clients, which include financial planning, life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves more than 14 million customers across the nation. For more information, visit