ING Life Companies continues executive benefits expansion with enhanced ING Corporate VUL product
ING Life Companies said today that it has relaunched its corporate variable universal life insurance product (ING Corporate VUL, policy form series #2516) issued by Security Life of Denver Insurance Company with enhanced pricing. The enhancement follows the recent additions of a dedicated online site, known as “The Executive Benefits Resource Center,” and a chapter-by-chapter introduction/training manual, “How to Sell Executive Benefits.”
“Executive Benefits” refers to the variety of planning techniques that companies use to recruit, reward and retain key employees in addition to normal salary and compensation and beyond qualified retirement plans such as pensions and 401(k) plans. Executive Benefits can also include non-qualified plans, non-qualified deferred compensation (NQDC) plans, corporate-owned life insurance (COLI) plans, multi-life plans, incentive plans, or excess plans.
“Insurance producers who support businesses are looking to companies that truly understand the needs of that market,” said Randy Kemnitz, manager of executive benefits for ING Life Sales Support. “ING is a company thatgets Executive Benefits. We not only offer competitive corporate products like ING CVUL, but we offer the tools and sales support to make it easier for insurance professionals to support their clients.”
ING Corporate VUL (ING CVUL)
The ING Corporate VUL is designed to generate a strong early-surrender value. The Surrender Value Enhancement feature may provides many benefits for businesses while keeping executives happy. It may make asset/liability matching easier and minimizes the impact to the business’s balance sheet for a non-qualified deferred compensation plan. The strong early-surrender value may also help offset NQDC liability with a tax-deferred asset (life insurance surrender value) and provide numerous variable investment options. Plus, the long-term performance potential of ING Corporate VUL may fund the NQDC liability payouts while offering cost recovery at death.
Key features of ING CVUL:
- Surrender Value Enhancement – may achieve over 100% cash surrender value in first year as a percent of premiums paid.
- Over 55 variable investment options managed by leading investment management firms.
- Strong asset allocation platform powered by Ibbotson Associates.
- Three death benefit options.
Executive Benefits Resource Center
The Executive Benefits Resource Center is a one-stop shop for the latest product and sales support information. Resources include a guide on how to illustrate with ING Presents, which covers a variety of important details like how to read an executive benefits illustration you can use with your clients’ other advisors. It also lists the latest sales promotion materials — including printed, electronic, personalized and non-branded options, plus contact details for personal service to assist you with executive benefits cases.
‘How to Sell Executive Benefits’ Guide
The “How to Sell Executive Benefits Guide” introduces and educates insurance producers and other financial professionals on the executive benefits sales process, from prospect identification through plan implementation. Available through monthly installments, the sections include: How to Work with Other Advisors, Product Considerations, Case Design, and How to be the Problem Solver, among others. The entire archive is available through the Executive Benefits Resource Center.
For more information about ING CVUL or ING Life Companies’ executive benefit offerings, contact ING Life Sales Support at 866-ING-SELL.
Philip Margolis, ING, 860-580-2676, 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 125,000 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, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 29 million customers across the nation. For more information, visit www.ing.com/us.
ING Corporate VUL [Form Series #2516(VUL)-09/07], may vary by state and may not be available in every state, is issued by Security Life of Denver Insurance Company (Denver, Col.) and is distributed by ING America Equities, Inc. Both are members of the ING family of companies.
Variable universal life insurance combines the protection and tax efficiencies of life insurance with the investment potential of a comprehensive selection of variable investment options. The insurance component provides the death benefit coverage and the variable component gives you the flexibility to potentially increase the policy's cash value.
Variable insurance products are subject to investment risk, are not guaranteed and will fluctuate in value. In addition, there is no guarantee that any variable investment option will meet its stated objective.
All guarantees are based on the financial strength and claims paying ability of Security Life of Denver Insurance Company, who is solely responsible for all obligations under its policies.
Before investing, carefully consider your need for life insurance coverage and the charges and expenses of the variable universal life insurance policy. Also consider the investment objectives, risks, fees, and charges of each underlying variable investment option. This and other information is contained in the prospectuses for the variable universal life insurance policy and the underlying variable investment options. Obtain these prospectuses from your registered representative, by calling 877-253-5050, or from www.ing.com/us and read them carefully before investing.