Close Close

Life Health > Life Insurance

ING Adds Death Benefit Guarantee To VUL Policy

Your article was successfully shared with the contacts you provided.

The ReliaStar Life Insurance Company unit of ING Groep N.V. is updating its Variable Accumulation Design survivorship variable universal life insurance policy.

ReliaStar, Minneapolis, has designed the policy for split-dollar, estate-planning and supplemental retirement income arrangements.

Changes include the addition of a free lifetime death benefit guarantee; a reduction in mortality and expense charges for years 6 through 10; an elimination of M&E charges after the 10th policy year; and a feature that permits policyholders to pay monthly charges from the assets of a specific investment option, according to ReliaStar.

Another feature lets holders split the policy into 2 single-life policies in the event of a divorce or business dissolution, ReliaStar says.