ING U.S. has launched a new indexed universal life (IUL) product that provides death benefits coverage and cash-value accumulation potential.

The product, Indexed Universal Life – Global Choice (ING IUL-Global Choice), provides three different indexed crediting strategies — the S&P 500 1-year point to point indexed strategy, as well as 2- and 5-year global indexed strategies.

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A Fixed Strategy is also available based upon a set interest rate. The Fixed Strategy rate is never less than the guaranteed minimum interest rate of 2 percent per year — set annually on the policy anniversary.
The S&P 500 indexed crediting strategy measures the increases, if any, in the S&P 500 over a one-year time period. The global indexed strategies credit interest is based on a formula that uses a portion of the two better-performing of three indexes looking

ING IUL-Global Choice also offers the ability to take partial withdrawals and loans and features additional options, such as accelerated benefit, early cash value, coverage for spouses and/or children, and a disability waiver.

In addition, ING IUL-Global Choice customers have access to the ING Global Life Concierge Program that was launched in March 2012 to support agents and their clients with policy questions, specifically those involving access to policy values.

Daniel Mulheran, president of ING Life Distribution, said: "In this protracted and chronic low interest-rate environment, a product like this appeals to those who are seeking death benefit coverage and tax-advantaged cash value accumulation. We know there’s a growing interest in the market for indexed products, and we believe the ING IUL-Global policy uniquely addresses the need of our distribution partners and their clients."

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ING IUL-Global Choice is issued by Security Life of Denver Insurance Company.