NU Online News Service, Sept. 19, 2003, 12:43 p.m. EDT – The Atlanta-based U.S. arm of ING Groep N.V., Amsterdam, has introduced ING Investor Elite, a variable universal life insurance product.
ING is writing the policy through its ReliaStar Life Insurance Company unit and distributing it mainly through independent insurance producers who are licensed to sell variable insurance.
The policy offers a choice of three death benefit guarantees and 61 variable investment options.
The minimum face amount is $50,000.
ING will pay first-year commissions on first-year target premium even if the target premium is not fully paid in the first year, the company says.