New Variable Annuity Feature Offers Flexible Alternative for Income in Retirement

ING has introduced ING LifePay, a new living benefit available under ING GoldenSelect variable annuity contracts that guarantees lifetime retirement income with more investment flexibility than other commonly offered forms of guaranteed income.

When elected as an optional living benefit under ING GoldenSelect variable annuities, the ING LifePay guaranteed minimum withdrawal benefit for lifetime income (GMWB-for-life) guarantees withdrawals of up to 7%* annually of premiums paid, for as long as the annuity owner lives -- even if the account value declines. It also allows more frequent resets to capture increases in account value and offers more investment choice than most other GMWB-for-life offerings.

"Many Americans are approaching the end of their working years and facing the daunting challenge of making the transition from saving for retirement to turning their savings into a lifetime income stream," said Matt Rider, senior vice president and head of product management for ING Retail Annuities Business Group, a division of ING U.S. Financial Services.

"The ING LifePay feature with ING GoldenSelect variable annuities provides a new alternative for those who are seeking income now or in the very near future," Rider said. "It may be particularly attractive for those who want their nest eggs to have the potential to continue to grow while also guaranteeing they will have at least a minimum level of income that will last a lifetime."

Unlike other GMWB-for-life options currently available, ING LifePay offers the ability for annuity owners to lock in increases based on account value once every quarter before withdrawals begin, while saving for retirement. Also, once an investor begins taking income through the ING LifePay feature, the guaranteed income amount can be reset by the annuity owner on an annual basis.

"With its flexibility and wide range of investment choices, ING LifePay can give annuity owners a guaranteed income stream that has the potential to increase with upward market performance. At the same time, it provides them with strong guarantees to protect income in down markets," Rider said.

ING variable annuities with the ING LifePay feature provide annuity owners a wide range of investment choices, considered among the most flexible in its class. Annuity owners can choose their own investment options from the full range of subaccounts available within ING GoldenSelect, as long as 20 percent is invested in the designated fixed allocation fund. Currently the designated fixed allocation fund is the ING VP Intermediate Bond Portfolio. A second option allows owners to invest in certain asset allocation portfolios, including the ING LifeStyle Growth Portfolio, ING LifeStyle Moderate Growth Portfolio, ING LifeStyle Moderate Portfolio and ING MarketPro Portfolio, all which provide professional asset allocation and rebalancing.

The development of the ING LifePay feature is closely tied to ING's "Solving America's Income Challenge" initiative to help financial advisors and their clients evaluate realistic retirement income needs and possible financial risks, as well as strategies for transitioning from a retirement savings plan to a retirement income plan.

Financial advisors interested in learning more about "Solving America's Income Challenge" or ING GoldenSelect variable annuities with the ING LifePay living benefit feature should call 888-576-9240 for more information.

  * based on the owner's age at the time of first withdrawal.

  ABOUT ING U.S. RETAIL ANNUITIES GROUP

ING's U.S. Retail Annuities Group, a Top-10 seller of both fixed and variable annuities through financial professionals, strives to develop a broad range of innovative annuity products and services to serve the retirement and long-term financial needs of Americans. ING Annuities' mission is to provide financial advisors the products, information and resources to help their clients build a solid foundation for their long-term financial goals, particularly retirement.

ABOUT ING

ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 114,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients which include life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 14 million customers across the nation. For more information, visit http://www.ing.com/.

  ING Annuities refers to USA Annuity and Life Insurance Company

  Disclosures:

Investors should consider investment objectives, risks, and charges and expenses of the variable annuity product and underlying fund options carefully before investing. The prospectus for the variable product and underlying fund options contain this and other information. Investors and financial professionals may obtain a prospectus by calling ING USA's Customer Service Department at 800-366-0066. Investors should read the prospectus carefully before investing.

All guarantees are based on the claims-paying ability of ING USA Annuity and Life Insurance Company.

The assets of ING have no impact on the ability of ING USA Annuity and Life Insurance Company to meet its obligations or on the performance of its products.

ING variable annuities are flexible premium deferred combination variable and fixed annuities available in most states. ING variable annuities are issued by ING USA Annuity and Life Insurance Company and distributed by Directed Services, Inc., member NASD. ING variable annuities are available in New York through ReliaStar Life Insurance Company of New York, distributed by DSI. Variable annuities are long-term investment vehicles designed for retirement purposes and are subject to market fluctuation, investment risk and possible loss of principal. Variable annuities are not insured or guaranteed by the FDIC/NCUA. Past performance is no guarantee of future results.

ING LifeStyle Portfolios, ING MarketPro Portfolio and ING VP Intermediate Bond Portfolio are available only as investment options within ING variable annuities. ING LifePay is only available as an optional living benefit within ING GoldenSelect variable annuities. The investment advisor for these portfolios is ING Investments, LLC. an affiliated company of ING USA Annuity and Life Insurance Company and Directed Services, Inc.

   Press inquiries:
   Christina Divigard, ING U.S. Financial Services, 860 723 2293 or
   christina.divigard@us.ing.com

SOURCE: ING

CONTACT: Christina Divigard of ING U.S. Financial Services,
+1-860-723-2293, or christina.divigard@us.ing.com

Web site: http://www.ing.com/