ReliaStar Life Insurance Company of New York has started selling return-of-premium term life insurance in New York state.

ReliaStar, Woodbury, N.Y., a unit of ING Groep N.V., Amsterdam, says policy purchasers who live to the end of the policy term can get all of their premiums back at the end of the term.

Terms can extend for 15, 20 or 30 years.

Policyholders can convert to cash-value policies up to age 80 without providing evidence of insurability.

There is no policy fee, and there are 6 underwriting classes, including preferred and super preferred underwriting classes, ING reports.

ReliaStar is responsible for backing the policy guarantees.