Lifelong income

ING Lifelong Income

  • Lifelong income

  • Tax benefit

  • Available capital

Want to enjoy a guaranteed lifelong income?

ING Lifelong Income, a branch 23 life insurance (investment insu​rance, whose yield is linked to that of investment funds), with a single premium, created by NN Insurance Belgium SA/nv* and subject to Belgian law, may well suit you.

Why? Here are some of the benefits:

  • The amount of the lifetime annuity is guaranteed for life by NN Insurance Belgium SA/nv.
  • The initial annuity obtained from your ING Lifelong Income contract is not taxed.
  • Your annuity benefits from the growth potential of the stock markets, without being exposed to risk due to devaluations.
  • Upon your death, the payment of the annuity stops and any remaining balance of the available capital is paid out to the beneficiary/ies nominated in the contract, or to your estate.

Before we go any further, please take a look at the following important documents:

These documents are also available on request and free of charge from your ING branch and on in French and Dutch.

Who is it for?

ING Lifelong Income is intended for residents in Belgium aged between 50 and 79 who are taxpayers as private individuals in Belgium, and who:

  • have a minimum capital to invest of 50,000 euros.
  • wish to benefit from additional income guaranteed for life.

The main risks associated with this product are:

  • Solvency risk
    Life insurance policies are covered by special and separately managed funds within the insurance company's assets. If the insurer should go bankrupt, this fund is reserved first and foremost to meet the commitments to the policyholders and/or beneficiaries. In addition, in the event of NN Insurance Belgium SA/nv defaulting on payments or going bankrupt, the payment of the annuity may be suspended and the recovery of the total amount of the reserve for the contract may be at risk. ING Lifelong Income is not covered by the protection of the “Special Protection Fund for deposits and life insurance policies”.
  • Market risk
    This is a generic risk that affects all kinds of investments. The changes in the price of securities are basically governed by the movements in the financial markets, as well as the economic growth of issuers, who themselves are affected by the global economic situation and by the economic and political conditions in their countries.
  • Concentration risk
    If investments are made in a specific geographic area, the concentration risk is higher than is the case if investments are spread across several different geographic areas.

The capital is therefore not guaranteed.

Investment policy

The capital is invested in the ING Lifelong Income Yellow fund (code ISIN BE0948481156) which invests 60% maximum in equity funds and 40% minimum in bond funds. The aim of the fund is to realise a capital gain. ING Lifelong Income aims to generate returns by actively managing a portfolio of bonds, equities and money market instruments issued by companies based in the European Union. Investment occurs only in the Member States of the European Union who belong to the euro zone, in countries that form part of the European Economic Area or in shares issued by companies listed on the stock markets in the euro zone. It is mainly invested in bonds and shares in euros. A balance is maintained between shares and bonds.

How much will my returns be?

ING Lifelong Income guarantees you the regular payment of a predefined annuity (monthly, quarterly, six-monthly or annually) that is guaranteed for life, making it the ideal complement to your future income.

The amount of the guaranteed life annuity is calculated at the start of the contract based on:

  • the net amount paid.
  • the conversion rate applied. The conversion rate is determined by the age of the policyholder when the policy is taken out.
    • At 50 years old, it is 1.50%.
    • This percentage increases by 0.1% for each year the insured person is over 50 at the time of subscription.
    • The maximum percentage applied is 4.40% for a policyholder aged 79.

This percentage does not change throughout the lifetime of the contract.

Your annuity is reviewed every 3 years. This review is carried out on the basis of the investment fund performance.

  • If the fund value increases, so does your income.
  • If the fund value decreases, your income stays the same.
  • In any event, your income will never decrease (except in the case of a partial withdrawal).

No profit-sharing bonus will be allocated.

How is the annuity paid?

The annuity is taken from the remaining balance of your contract by reducing the number of units that make it up. The payment of the annuity is therefore going to start reducing the value of your contract as and when payments are made. The guarantee costs are also deducted from your reserve (1.1% each year).

Premium amount

Single premium contract with 50,000 euros gross minimum (before fees, charges and tax).


This is a lifetime contract and ends with the death of the policyholder or when the reserve has been completely withdrawn.

Fees and charges

  • Subscription fees: 2% on each premium paid (after withholding tax of 2% on the premium).
  • Management fees of the underlying fund ING Lifelong Income Yellow: 0.65% on an annual basis, calculated pro rata monthly on the net asset value. The 4 underlying funds of ING Lifelong Income Yellow include their own management fees (on average 1.205% per year) that are included in the net asset value of the funds.
  • Annuity guarantee fee: 1.1% per year. These are calculated on the basic reserve or the new basic reserve if the guaranteed life annuity is increased.
  • Withdrawal fee: this applies for withdrawals occurring during the first 4 years of the contract. This fee is decreased over time: from 4.8% for the first month, and then declining by 0.1% per month.

Fees valid as of 01/01/2017. These fees can vary before subscription by prior notification (via the information sheet).


  • Premium tax: 2% of the premium paid.
  • Tax on the annuity: the annuity obtained from your ING Lifelong Income policy is not taxed. Only if the annuity is increased, the difference between the new annuity and the initial annuity is taxable (at a rate of 30%, plus the supplementary municipal taxes).

The applicable tax arrangement is similar in the event of a withdrawal (in part or in full) and in the event of death.

This tax regime applies to an average retail customer who is a private individual, resident in Belgium.

Taxation depends on the individual situation of each customer and may change in the future.

Policy value (reserve)​

Each year, the policyholder will receive an annual report from NN Insurance Belgium SA/nv showing the value of their policy as of 31 December of the previous year.

Making a claim, suggestion or complaint

  • Feel free to contact ING Complaint Management by e-mail via or by post to Cour Saint-Michel/Sint-Michielswarande 60, 1040 Brussels.
  • Already been in touch with ING? Contact the Financial Disputes Ombudsman, North Gate II, Avenue Roi Albert II/Koning Albert II-laan 8, 1000 Brussels ( or the Insurance Ombudsman, Square de Meeûsplein 35, 1000 Brussels (

Interested in a lifelong income?

*Who is NN Insurance Belgium SA/nv?

NN Insurance Belgium (formerly ING Life Belgium) is an insurance company within the NN Group, with a strong history in Belgium. The NN Group is an insurance and investment management company that is listed on the stock exchange and has strong European roots. Represented in 18 countries, and with a total of around 12,000 employees, the group provides services relating to pensions, insurance, investments and also banking services (only in the Netherlands) to over 15 million customers.

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