ING introduces Business Succession Virtual University

MINNEAPOLIS, Feb. 17, 2011 /PRNewswire/ -- Successful businesses aren't built overnight or by accident. It takes investment, hard work and planning by the owners and management. Similarly, professionals who support these businesses don't wake up with all the knowledge needed to advise business owners in an ever-changing environment.

To help financial professionals become more effective in working with business owners, ING has developed the Business Succession Virtual University. This free, six-part series includes one-hour web-based training sessions designed to explain business-succession strategies and how life insurance can often be part of the solution and business plan. The Business Succession Virtual University sessions are scheduled for noon Central time on Feb. 22, March 8 and 22, April 5 and 19 and May 3.  

The online course complements ING's Buy-Sell Wizard, one of a number of materials and tools that ING created to make it easier for financial professionals to serve business owners with their business-succession needs. The ING Buy-Sell Wizard is a decision-making tool that arranges different buy-sell strategies according to the income tax structure of the business and the primary objectives of the owners. In addition to helping identify workable buy-sell options, it can assist in selecting the life insurance policy owner and the source of funds for paying policy premiums.  The Buy-Sell Wizard helps identify which of nine different buy-sell arrangements may be best suited to a particular business situation.

"Business succession can be a complicated matter, yet the planning is critical for any business," said Kurt Fasen, senior vice president and head of Insurance Sales Support, ING U.S. Insurance. "Business-succession planning determines how business value is allocated and converted into cash when an owner leaves the business. Education such as the ING Virtual University, and tools like the Buy-Sell Wizard, can demystify the process and put financial professionals' expertise to work for their clients."

For more information on either the Buy-Sell Wizard or the Business Succession Virtual University, call ING Insurance Sales Support at (866) 464-7355, Opt. 4.

About ING

ING is a global financial institution of Dutch origin offering 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 107,000 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 and financial planning.  ING holds top-tier rankings in key U.S. markets and serves nearly 30 million customers across the nation.  For more information, visit www.ing.com/us.

SOURCE ING