by Stan Schroeder
Familiarity and Comfort
From appliances and electronics to cars and financial products, we all know our clients feel most comfortable when dealing with a household name. At ING, we are proud to hold an astounding 82% brand recognition rate. People overwhelmingly know ING– we’re one of the world’s most solidly recognizable brands offering products in over 50 countries. In a matter of just 10 short years, ING has seen a 627% jump in brand recognition following ING’s introduction in the United States. Because customers are more inclined to do business with a company they are familiar with, we’re excited about these growing numbers. Moreover, nearly half of consumers recently surveyed said they would do business with ING based on this strong brand recognition.
Strength and Security
At ING, our customer mission is simple: We aim to provide smart, reliable and sustainable products and services to build and protect financial futures. Here’s how we deliver with our annuity line.
Income for Life. The time has passed when our clients could rely upon pensions, social security and personal savings to retire comfortably. Americans are retiring younger, yet living longer in a world where seniors are now personally responsible for managing their own retirement full of complex options. Did you know a remarkable 67% of people have retired before the age of 65?1 Meanwhile, if a couple is 65 today, there is more than a 50% chance that one of them will live to age 92.2 Modern medical advances and healthier lifestyles make longevity risk an imperative discussion with your clients. This could mean planning for a 30-year retirement! Can your clients really count on social security to supplement their needs? Most believe that the SSA will have a difficult time supporting so many retirees with much longer retirements. It is estimated that by 2017, Social Security benefits payments will begin to exceed Social Security tax income.3 To complicate matters further, inflation, rising costs of living, health care costs, taxes and market volatility continue to erode the value of the retirement nest egg. For example, in just 25 years, at just 3% annual rate of inflation, your expenses could more than double what they are today.4 So, how will retirees keep up? Our studies have shown our clients desire a straightforward product which is flexible enough to provide a steady lifetime income stream.
The ING IncomeProtector Withdrawal Benefit is an optional living benefit that can be added to any ING indexed annuity contract to provide flexible, guaranteed income during retirement. With this Benefit rider, clients can enjoy a 6% compounding interest roll-up rate during the first 10 years with the certainty of getting back 100% Benefit Rider charges in the event of death. The product also allows clients to turn on and off the income stream at any time until the contract is annuitized. The maximum issue age of the Benefit Rider is age 80 and is available at an annual cost of 0.65% of the Guaranteed Withdrawal base.
Return of Premium Rider. We all run into clients who seek an annuity with a guaranteed return of premium rider. ING offers this rider option with our Secure Index 5 Annuity. This rider works very simply – it guarantees that clients will always be paid back at least the premiums they paid for the annuity should they need to fully terminate the contract (less any prior withdrawals or premium taxes withheld). Do note that this rider is only available at contract issue and cannot be terminated once selected.
Coming Soon. We’re pleased to announce several new product changes effective August 1.
Interest Rate Benchmark Strategy: This new strategy will allow clients to take advantage of a rising interest rate environment on an annual basis if the three-month LIBOR has increased during the crediting period. So, if you have clients concerned about market fluctuations, dissatisfied with CD or money market rates, or looking for a bond alternative, this strategy may be a good alternative to consider. This strategy will be available for both the Secure and Envoy series of products offered through ING.
Death Benefit Rider: We are also set to release an attractive Death Benefit Rider to help those clients looking to leave behind a legacy for their beneficiaries. The Death Benefit Rider will include a compound growth rate of up to 200% of the initial premium payable in a lump sum. The maximum issue age for this rider is age 75. This rider is a good choice for your clients looking to leave behind a strong legacy death benefit, but who can’t qualify for life insurance. This Death Benefit Rider will be available on both the Secure and Envoy series of products offered through ING.
As we continue to grow and enhance our relationship with Creative Marketing, we hope to deliver outstanding products and service to meet your needs as well as those of your clients. Call your Creative Marketing Sales Consultant for more detailed information on ING products and current rates.
1 Employee Benefit Research Institute and Mathew Greenwald & Associates, INC., 2007 Retirement Confidence Survey.
2 Annuity 2000 Mortality Table, Society of Actuaries.
3 Social Security Administration, 2007.
4 U.S. Department of Labor, Bureau of Statistics.
FOR AGENT USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC. 11820 - 2011/7/25
Contracts issued by ING USA Annuity and Life Insurance Company, Des Moines, IA 50309. Contract Form Series: IU-IA-3050, IU-IA-3034, IU-IA-3033, IU-RA-3058, IU-IA-3038, IU-IA-3067, IU-IA-3064, IU-IA-3036, 1823. ING IncomeProtector Withdrawal Benefit Contract Form Series: IU-RA-3059 (08/08); IU-RA-3060 (08/08). Guarantees are based on the claims-paying ability of ING USA Annuity and Life Insurance Company.