ING Relaunches Corporate Variable Universal Life Product

May 6, 2009 (PLANSPONSOR.com) - ING Life Companies has relaunched its corporate variable universal life insurance product (ING Corporate VUL, policy form series #2516) issued by Security Life of Denver Insurance Company, with enhanced pricing.

The ING Corporate VUL is designed to generate a strong early-surrender value. The Surrender Value Enhancement feature may make asset/liability matching easier and minimizes the impact to the business’s balance sheet for a non-qualified deferred compensation (NQDC)¬†plan, according to a press release.

The strong early-surrender value may also help offset NQDC liability with a tax-deferred asset (life insurance surrender value) and provide numerous variable investment options. Additionally, the long-term performance potential of ING Corporate VUL may fund the NQDC liability payouts while offering cost recovery at death, the announcement said.

Key features of ING CVUL include:

  • Surrender Value Enhancement – may achieve over 100% cash surrender value in first year as a percent of premiums paid.
  • More than 55 variable investment options.
  • Strong asset allocation platform powered by Ibbotson Associates.
  • Three death benefit options.

ING said the enhancement follows the recent additions of an online site, known as “The Executive Benefits Resource Center,” and a chapter-by-chapter introduction/training manual, “How to Sell Executive Benefits.”

For more information, contact ING Life Sales Support at 866-ING-SELL.

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