Group Annual Term Life Insurance
Sometimes the coverage your client needs seems out of reach.
ING Employee Benefits offers ultimate flexibility like optional dependent coverage, an accelerated benefit for terminal illness and waiver of premium in the event of a total disability. When claimed, the death benefit is conveniently paid out to the beneficiary in an ING Personal Transition Account1. This is an interest bearing draft account that works like a checking account and accompanies other beneficiary support services.
1 Proceeds of $5,000 or more are generally paid into an ING Personal Transition Account. ING Personal Transition Accounts are not available in all states.
- Employer-paid (basic) life and employee-paid (supplemental) life coverage available
- Low cost for relatively high levels of term life coverage
- Competitive issue limits
Depending on your customer's needs, there are various benefits available under the Group Annual Term Life products available, including portability, dependent coverage, and accidental death and dismemberment coverage. There is also a separate Personal Accident Insurance product available.
ING Employee Benefits offers portability for its term life insurance products so that employees can keep their employer-sponsored coverage if they change jobs or retire.2
2 Availability and conditions for portability may vary by state and product.
Dependent Life Insurance
ING Employee Benefits offers term life insurance for dependents insured under the group plan. This can include spouses, domestic partners3 and/or children of the insured employee. Age and definition of a dependent child will vary by state and product. For some plans, dependent coverage may be automatically portable, along with the employee's coverage.
3 Availability of coverage for domestic partners varies by state and product.
Accidental Death and Dismemberment (AD&D Insurance)
Part of the protection offered through life insurance includes preparations for other unforeseen tragic events. ING Employee Benefits helps enhance the life insurance plan through additional protection in the event of accidental death, dismemberment (the loss of limbs), or loss of sight. This plan may also include benefits for additional types of loss.
Employee Benefits insurance products and services in the U.S. are provided by ReliaStar Life Insurance Company (Minneapolis, MN) and 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 U.S. family of companies. Product availability and specific provisions may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.