Simplified Variable Annuities are All the Rage

According to Investment News, ING is replacing their variable annuity product with a more simplified version.  In "ING to sell stripped-down VA with stripped-down commission," Darla Mercado gives details about the new product.  As of March ING will no longer market its traditional variable annuities.  Their new variable annuities will pay out a level commission that is 75 basis points.  Typical variable annuities have a trail commission of around 1% so ING's new product will... Read More

Annuity & Life Insurance Roundtable

ING Life Insurance and Annuity Company introduced roundtable discussions for their mid market consultants and advisors, according to a company press release via PR Newswire.  They consider the mid market employers to be those with retirement plan assets between $20 million and $150 million.  These roundtable talks held by ING's U.S. Retirement Services branch are meant to educate and build relationships within their mid market arena.The first meeting for the consultants and regional... Read More

Unbeatable Rate: ING raises Guarantee Choice 5yr fixed annuity to 4.20%

ING USA just significantly raised the rate of their Guarantee Choice fixed annuity. The 5-year rate is currently 4.20% for greater than $75,000 (4% for less than $75,000). Act now to lock in this great rate, which is likely available only for the next week, when ING USA reviews its rates again. Call 866-223-2121 to speak with an licensed financial... Read More

New Annuity CFO at ING

The U.S. Annuity business of ING Group NV has a new chief financial officer/chief insurance risk officer, according to Matt Ackermann at American Banker.   This was announced on Thursday after a recent company change to low-cost and simple retail annuity products. Michael Smith will be working for ING at the company's offices in WestChester, Pa.  He comes from 21 years at Lincoln Retirement Solutions where he was in charge of both risk management and profitability.  The CEO of ING's U.S.... Read More

ING Annuities & Retirement Units Split

ING Group is reorganizing its American wealth management business, says Darla Mercado of InvestmentNews. The Dutch firm is dividing its U.S. unit into separate divisions for annuities, retirement services, investments, and insurance. ING's largest businesses are its retirement and annuity units.Darla also reports that ING has several new executives for these units.  Wealth management CEO Kathleen Murthy is departing ING and her position will be replaced with separate CEOs for each... Read More

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