Allstate, ING U.S. Announce Strategic Alliance On Annuities
PR Newswire Association LLC |
"When Allstate Financial announced in July that we would no longer issue fixed annuities after 2013, we began searching for other companies to help us continue supporting
"Working with
As of
- ING Single Premium Immediate Annuity (
ING SPIA ) turns a customer's lump-sum premium into an immediate stream of income for lifetime or a specified period.ING SPIA is designed to address retirees' common concern about outliving their retirement money. There are a variety of payout options available for additional security, including a minimum payout period and survivor guaranteed payments to help a surviving spouse. - ING Secure Index fixed index annuity product series provide customers with principal protection and the potential for interest crediting and guaranteed income if the contract is annuitized. The series includes several accumulation strategies that can be used in combination and adjusted annually. A fixed rate strategy provides accumulation potential based on a fixed rate determined annually by
ING U.S . This strategy appeals to individuals who want the security of knowing in advance how much interest will be credited to their contracts each year. Another accumulation strategy credits interest based, in part, on increases, if any, in the S&P 500® Index with an assurance that the interest can never be less than zero. The various accumulation strategies can be combined with each other and can be adjusted each contract year based on an individual's needs and market conditions. - ING Lifetime Income deferred fixed annuity with an indexed minimum guaranteed withdrawal benefit providing income benefits to help individuals plan for their retirement. The income benefits have the potential to grow the longer income is delayed. This offering provides owners with an incentive to defer the start of income payments, while still giving them flexibility for times when they might need to access their contract's value.
Annuities are issued by
Withdrawals are subject to Federal/State income tax and, if taken prior to age 59 1/2, an additional 10% Federal penalty tax unless an exception applies. Withdrawals do not participate in credits of benchmark, index, or interest. A withdrawal includes any partial surrender. The contract does not directly participate in any stock or equity products. For premium elected to the index or benchmark strategies, no amount is credited in the current contract year if the contract is annuitized, surrendered or re-elected prior to the end of the contract year. The interest rate, index cap, monthly cap, participation rate, index spread, participation multipliers and credit caps are set at the beginning of the period, are guaranteed for the first period and may change for future periods
The S&P 500 Index is a product of
Contract Form Series: IU-IA-3119; IU-RA-3120; IU-RA-3121; IU-RA-3122; IU-RA-3123; IU-IA-3050, IU-IA-3033, IU-IA-3034, may vary by state.
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