This ReliaStar Life Insurance Company review includes basic information that buyers should know before purchasing its products, such as company history, principal sales methods, and more. ReliaStar Life Insurance products also include annuities and retirement plans for individuals, employers, and institutions. Read our ReliaStar Life Insurance review below to learn more.
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UPDATED: Jan 7, 2021
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Reliastar Life Insurance Company had total direct premiums of $2.9 billion in 2005 and year end assets of $22 billion.
Company History: Reliastar Life Insurance Company, based in Minnesota, and its wholly owned subsidiary, Reliastar Life Insurance Company of New York, are part of a fleet of about 10 life insurance companies in the U.S. and Canada that are owned by ING, a global financial services company operating in more than 50 countries.
The life insurance companies of this group sell annuities, life insurance and retirement plans to individuals, employers and institutions. Reliastar traces its beginnings to a company founded in 1901 and acquired by ING in 2000.
Other ING operations provide banking, stockbrokerage, trust and investment management services. ING has about 115,000 employees and about 60 million clients worldwide .
Principle Sales Methods: Life insurance sales for Reliastar Life Insurance Company and Reliastar Life Insurance Company of New York are primarily conducted through brokerage and personal producing general agents.
Life Annuity Business: The ING U.S. life insurance companies sell a complete range of life insurance products to a broad range of customers and businesses. These products include variable life, universal life and traditional life policies.
Annuities are primarily sold for tax deferred retirement savings to supplement any employer-sponsored plan. Annuities are sold through national and regional brokerage firms as well as through, career agents, independent agents and ING’s Fixed Annuity Network.