The ING life companies have launched a new life insurance capacity (LIC) calculator to help insurance producers estimate the maximum amount of coverage that could be in force for a given client based on the company's underwriting guidelines.

According to ING, using the information provided by calculator, producers can work with clients to help determine their needs, including determining if the client might want to take out additional coverage to ensure his or her future insurability.

The new calculator estimates LIC by applying its financial underwriting guidelines to financial information provided by client/prospect. Then it subtracts amount of life insurance coverage currently in force (from all insurers) to estimate how much of total capacity could be purchased and verification of finances may also be required during underwriting process.

In addition, LIC calculator may help producers avoid financial underwriting problems. It provides an estimate of upper limit of total life insurance coverage underwriters will likely deem appropriate for a particular person. It also estimates coverage limits for different categories of death benefit needs, including both personal coverage and business coverage.

The company said that ING-appointed producers can access this calculator on ING for producers website or ING presents.

Kurt Fasen, senior vice president and head of ING Life Sales Support, said: “The Life Insurance Capacity Calculator is more than a unique new online tool. It has the potential to help life insurance producers minimize financial underwriting problems while increasing life insurance sales.”