NU Online News Service, May 21, 4:15 p.m. – ING U.S. Financial Services, Atlanta, has introduced two new fixed annuities.
The annuities are the ING SmartDesign Single Premium Fixed Annuity and the ING SmartDesign Flexible Fixed Annuity.
The single-premium annuity has six guaranteed interest rate periods for investors to choose from, ranging from five years to 10 years.
Each period has a different guaranteed interest rate. The current 10-year rate is 6.4%, ING says.
The flexible fixed annuity allows investors to choose between a set guaranteed interest rate option for a one-year, three-year or five-year term, and an increasing guaranteed interest rate option for a five-year, six-year or seven-year term.
With the set guaranteed rate option, the same interest rate is guaranteed for the length of the guarantee period selected.