ING Lowers Rates and Updates Term Life Insurance Products

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Lowers rates, adds 25-year level option, expands issue ages and more

We aim to make it easy for life insurance producers to sell our products, which we think are among the best available on the market.

The ING Life Companies , already a leading provider of term life insurance in the United States, have lowered much of the pricing on term life insurance products offered through ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York. This will help ING maintain its leadership position in that product category. In addition to price changes, the companies have made other modifications to the ING TermSmart and ING TermSmart NY line-ups, including:

  •     Introduce a 25-year level term option to its existing 10-, 15-, 20- and 30-year options;
  •     Add a rate new rate band that discounts premiums at $500,000-$999,999 face amounts; and,
  •     Expand the issue age for most term lengths by five years.

“Term life insurance provides basic, economical life insurance protection for American families and businesses,” said ING U.S. Insurance CEO Butch Britton. “ING remains committed to being a leader in this market. These moves, along with our efficient underwriting and operations, will help us keep our extremely competitive position and help us provide protection to more middle-income Americans.”

The ING Life Companies work with independent insurance producers and online insurance sellers to distribute their life insurance products. The ING Life Companies support these producers with a dedicated term life insurance web site, customized marketing materials, educational interactive client web tools, quick quotes available online and through mobile devices, and much more. “We aim to make it easy for life insurance producers to sell our products, which we think are among the best available on the market,” said Britton.

According to statistics from the industry group LIMRA, the ING Life Companies are the second-largest seller of term life insurance policies in the United States.* In addition to level term life insurance, the ING Life Companies offer return-of-premium-style term life, universal life, indexed universal life and variable universal life insurance products.

In 2009, ING unveiled an interactive online tool that aims to make it easier for American consumers to learn about life insurance. Dubbed ING for Life&#8480, the site walks consumers through an education process to help them determine the type of life insurance product and estimated amount of life insurance coverage that best fits their personal situation. After completing the research and education process, ING for Life&#8480 offers users the opportunity to move to the buying process. With a few clicks of a mouse, users can get life insurance quotes and connect to an independent, licensed life insurance agent that will help them complete a life insurance application.

ING TermSmart and ING TermSmart NY can now be exchanged for another individual permanent life insurance product available from the ING Life Companies, until five years before the end of the level premium period or age 70, whichever is earlier.

Life insurance producers interested in knowing more about ING TermSmart, should contact their ING Life Companies’ representative, or call 1-866-ING-SELL (866-464-7355).

Consumers interested in an ING life insurance product can contact leading independent life insurance agents or online quote services, or visit

About ING
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries. With a diverse workforce of about 115,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.

In the U.S., the ING (NYSE: ING) family of companies offer a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits and financial planning. ING holds top-tier rankings in key U.S. markets and serves nearly 30 million customers across the nation. For more information, visit

Press inquiries:
Philip Margolis
(860) 580-2676

ING TermSmart, policy form series 1315-02/10, may vary by state and may not be available in all states, is issued by ReliaStar Life Insurance Company (Minneapolis, MN), a member of the ING family of companies. Not available in New York. ING TermSmart NY, policy form series 3314-02/10, not available outside of New York, is issued by ReliaStar Life Insurance Company of New York (Woodbury, NY), a member of the ING family of companies. Within the state of New York, only ReliaStar Life Insurance Company of New York is admitted and its products issued. All guarantees are based on the financial strength and claims paying ability of the issuing insurance company, who is solely responsible for all obligations under its policies. .

*by policy count, according to LIMRA 2009 Life Insurance Sales data.

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