ING Financial Solutions expands new solutions-based product suite

ING’s U.S. operations, Windsor, Conn., which merged its annuity and rollover businesses to form ING Financial Solutions last year, has added a simpler, lower-cost variable annuity, ING Select Opportunities Variable Annuity, to its new product suite. Earlier this year, the company introduced a multi-manager mutual-fund custodial account IRA program and a fixed annuity to the marketplace. The annuity products are issued by ING Life Insurance and Annuity Company.

The ING Select Opportunities Variable Annuity offers many of the benefits and features of traditional variable annuities packaged together at a competitive price. The contract has one death benefit and a minimum guaranteed withdrawal benefit, both of which come standard with the product. With ING Select Opportunities, contract holders can get income for life that may never run out and may increase as they get older. Passive investment options utilizing Index-tracking portfolios rather than actively managed portfolios also help keep management costs lower for investors.