This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Allstate, ING U.S. Announce Strategic Alliance To Offer ING U.S. Fixed Annuities To Allstate Customers

NORTHBROOK, Ill. and NEW YORK, Dec. 9, 2013 /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) and ING U.S. (NYSE: VOYA) today announced a strategic alliance that will enable Allstate to offer a full suite of fixed annuity product offerings issued by ING Companies to Allstate customers. The fixed annuity products are issued by ING USA Annuity and Life Insurance Company (ING USA) and ING Life Insurance and Annuity Company.

(Logo: http://photos.prnewswire.com/prnh/20130404/MM88193-b)

"When Allstate Financial announced in July that we would no longer issue fixed annuities after 2013, we began searching for other companies to help us continue supporting Allstate customers with these retirement products," said Don Civgin, president and chief executive officer of Allstate Financial. "ING U.S. is our first strategic alliance since the announcement. We chose ING U.S. because of its financial and brand strength, leadership in the annuity industry, and fixed annuity solutions that complement our life, retirement, savings, long-term care and disability products that are Allstate-branded or issued by other leading insurers. We look forward to bringing ING U.S. fixed annuities to Allstate customers."

"Working with Allstate will help expand our growing footprint in the fixed annuity marketplace," said Chad Tope, president of ING U.S. annuity and asset sales. "By marrying the product expertise of ING U.S. and the extensive consumer reach of Allstate, we bring new product options and support to educate consumers and help more Americans secure their future retirements. Building a sound, lifetime income strategy is one of the most important aspects of financial planning today, and a key to improving the overall retirement readiness of individuals and families. This is the foundation of our mission at ING U.S."

As of January 2014, Allstate plans to begin offering the following ING USA fixed annuities:

  • ING Single Premium Immediate Annuity ( ING SPIA) turns a customer's lump-sum premium into an immediate stream of income for lifetime or a specified period. ING SPIA is designed to address retirees' common concern about outliving their retirement money. There are a variety of payout options available for additional security, including a minimum payout period and survivor guaranteed payments to help a surviving spouse.
  • ING Secure Index fixed index annuity product series provide customers with principal protection and the potential for interest crediting and guaranteed income if the contract is annuitized. The series includes several accumulation strategies that can be used in combination and adjusted annually. A fixed rate strategy provides accumulation potential based on a fixed rate determined annually by ING U.S. This strategy appeals to individuals who want the security of knowing in advance how much interest will be credited to their contracts each year. Another accumulation strategy credits interest based, in part, on increases, if any, in the S&P 500 ® Index with an assurance that the interest can never be less than zero. The various accumulation strategies can be combined with each other and can be adjusted each contract year based on an individual's needs and market conditions.
  • ING Lifetime Income deferred fixed annuity with an indexed minimum guaranteed withdrawal benefit providing income benefits to help individuals plan for their retirement. The income benefits have the potential to grow the longer income is delayed. This offering provides owners with an incentive to defer the start of income payments, while still giving them flexibility for times when they might need to access their contract's value.

Allstate offers its customers a wide range of other retirement savings options, including annuity products from several leading providers. As previously announced, sales of Allstate Growth and Income Protector SM, IncomeReady SM and RightFit SM annuities will cease as of year-end 2013. For more information, contact the financial professional at your local Allstate agency. Retirement information can be found at http://www.myallstatefinancial.com/retirement

ING U.S. (NYSE: VOYA), which plans to rebrand in the future as Voya Financial, is a premier retirement, investment and insurance company serving the financial needs of approximately 13 million individual and institutional customers in the United States. The company's vision is to be America's Retirement Company and its guiding principle is centered on solving the most daunting financial challenge facing Americans today – retirement readiness. Working directly with clients and through a broad group of financial intermediaries, independent producers, affiliated advisors and dedicated sales specialists, ING U.S. provides a comprehensive portfolio of asset accumulation, asset protection and asset distribution products and services. With a dedicated workforce of approximately 7,000 employees, ING U.S. is grounded in a clear mission to make a secure financial future possible – one person, one family and one institution at a time. For more information, visit http://ing.us.

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate ®, and are widely known through the slogan "You're In Good Hands With Allstate ®." As part of Allstate's commitment to strengthen local communities, The Allstate Foundation, Allstate employees, agency owners and the corporation provided $29 million in 2012 to thousands of nonprofit organizations and important causes across the United States.

Annuities are issued by ING USA Annuity and Life Insurance Company ( Des Moines, IA), member of the ING U.S. family of companies. All guarantees are based upon the financial strength and claims-paying ability of the issuing company, which is solely responsible for all obligations under its contracts. Products and features may not be available in all states and are subject to change.

Withdrawals are subject to Federal/State income tax and, if taken prior to age 59 1⁄2, an additional 10% Federal penalty tax unless an exception applies. Withdrawals do not participate in credits of benchmark, index, or interest. A withdrawal includes any partial surrender. The contract does not directly participate in any stock or equity products. For premium elected to the index or benchmark strategies, no amount is credited in the current contract year if the contract is annuitized, surrendered or re-elected prior to the end of the contract year. The interest rate, index cap, monthly cap, participation rate, index spread, participation multipliers and credit caps are set at the beginning of the period, are guaranteed for the first period and may change for future periods

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs