Executives at the ING Americas-U.S. Financial Services business are thinking about retirement income planning and universal life guarantees.[@@]
ING Americas, Atlanta, an arm of ING Groep N.V. Amsterdam, put those topics on the agenda during a recent conference call.
ING Americas wants to do something about the fact that only 8% of U.S. retirees have decided what to do with their funds once they leave their retirement plans, according to Bill Lowe, president of ING Americas’ ING Financial Horizons unit.
ING Americas is starting its retirement income planning effort with initiatives to educate advisors about payout annuities and strategies for addressing consumers’ concerns about lack of access to cash, Lowe said.
One way to deal with liquidity concerns is to talk about commutable value features, Lowe said.