ING said Thursday that it has introduced a new survivorship universal life product designed for death benefit protection and long-term cash accumulation.
The product, ING Explorer Survivorship Universal Life, combines the potential for cash-value accumulation with a return-of-premium death benefit option.
ING Explorer SUL has a death benefit that can be used without interest when the client is simply looking for a return of premium, or with interest as a way to index a loan.
The product also offers a split-option rider, allowing the policy owner to split it into two universal life policies in the event of a divorce or tax-law change; preferred loans, available beginning after the 10th policy year; continuation of coverage beyond age 100; removal of all ratings after the 20th policy year; four underwriting classes; and coverage for one uninsurable life.
ING offers financial services to retail and institutional clients, including financial planning, life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, and reinsurance.
