ING Introduces New Indexed Universal Life Product That Uses Multiple Stock Market Indexes From Around the Globe

ING announced that it will introduce a new indexed universal life insurance product that will offer interest crediting based on an indexed strategy option that includes two non-U.S. stock market indexes. Named ING Indexed Universal Life-Global (ING IUL-Global), and issued by Security Life of Denver Insurance Company, the product offers policy holders valuable death benefit protection and the choice of a fixed interest strategy or an indexed strategy. The indexed strategy credits interest based upon a formula that uses a portion of the two better-performing of three indexes (S&P 500® Index, the EuroSTOXX 50® Index, and the Hang Seng Index) looking back over a five-year period.

"ING IUL-Global's indexed strategy offers both the potential to capture some upside from the best two of three indexes, with the downside protection of a 1% per-year guaranteed minimum interest rate," said Daniel Mulheran, president of ING U.S. Retail Life Distribution. "It is a great product for those who need life insurance and are looking for potential cash accumulation, supplemental retirement income, executive benefits or are interested in financing their premiums."

Indexed universal life has the potential for higher interest than a more traditional universal life insurance product, yet there is more cash-value protection against market declines than variable universal life (VUL) through a guaranteed minimum interest rate. The three-index strategy offered in ING IUL-Global could provide greater cash accumulation than using just the fixed or single-index strategies found in other products. The five-year look-back period may also help reduce volatility associated with year-to-year index changes.

The fixed strategy of ING IUL-Global earns interest based upon a current credited interest rate declared by Security Life that will be in effect for at least the first 12 months. At each policy anniversary, the rate may vary, but it will never be less than the guaranteed minimum interest rate of 2% per year. Policy holders can choose between the fixed strategy, the indexed strategy, or use a combination of the two.