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UL Policy Offers Fixed, Indexed Options

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ING Life Companies has launched an indexed universal life insurance policy that offers both fixed and indexed crediting strategies.

The ING Indexed Universal Life-CV features traditional UL benefits plus the opportunity to earn an index credit linked, in part, to any increases in the S&P 500, according to ING Life, Minneapolis, a unit of ING Groep N.V., Amsterdam.

There is a cap on the maximum index credit rate and a minimum interest guarantee.

Issued by Security Life of Denver Insurance Company, Denver, an ING company, the policy also offers guaranteed-issue underwriting for corporate sales, waiver of surrender charge rider for traditional premium finance cases, and several riders such as accelerated benefit, adjustable term insurance, overloan lapse protection, additional insured rider, and waiver of specified premium.

ING Life says the policy also offers unlimited rolling targets and heaped commissions. Preferred loans are currently available beginning in the 11th policy year.

Markets include executive benefit and business-continuation planning for businesses and retirement and wealth-management planning for individuals.

Security Life is responsible for backing the product guarantees, ING says.


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