ING Financial Solutions has launched two new registered fixed-index annuities, ING Select Multi-Index 5 and ING Select Multi-Index 7.
Both modified single-premium deferred annuities issued by ING Life Insurance and Annuity Company, offer an alternative to traditional fixed annuities through an index strategy that can link a client’s potential for annual growth to the performance of up to four market indexes.
The company said that investors who will purchase ING Select Multi-Index 5 or ING Select Multi-Index 7 will be given a choice to link their annual interest crediting, in part, to any combination of S&P 500 Index, S&P MidCap 400 Index, Russell 2000 Index and EURO STOXX 50 Index and also fixed-rate strategy.
In addition, the company will continue to offer non-registered fixed index annuities issued by ING USA Annuity and Life Insurance Company and ReliaStar Life Insurance Company of New York.
Lynne Ford, CEO of ING Financial Solutions, said: “ING Select Multi-Index 5 and ING Select Multi-Index 7 give both downside protection and some upside potential to benefit from market gains. With multiple indexes and the ability to choose the mix of how the money is allocated, these products can fit well with a variety of retirement portfolios.”