The ING Life Companies, a provider of term life insurance in the US, has enhanced its TermSmart and ING TermSmart NY line-ups.

According to ING Life, the enhancements to life insurance product line-ups includes a 25-year level term option to its existing 10, 15, 20 and 30 year options; adding a rate new rate band that discounts premiums at $500,000-$999,999 face amounts; and expanding the issue age for term lengths by five years.

The company said that it has also lowered the pricing on term life insurance products offered through ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York.

ING Life said that the TermSmart and TermSmart NY can now be exchanged for another individual permanent life insurance product available from the ING Life Companies, until five years before end of the level premium period or age 70, whichever is earlier.

Butch Britton, CEO of ING US Insurance, said: “Term life insurance provides basic, economical life insurance protection for American families and businesses. ING remains committed to being a leader in this market. These moves, along with our efficient underwriting and operations, will help us keep our extremely competitive position and help us provide protection to more middle-income Americans.”