The ING Corporate VUL (policy form series #2516) 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—might achieve more than 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.