1. RETIREMENT LIFE INSURANCE INVESTMENTS ING Morningstar Advisory Solutions Symposium September 28 - 29, 2010 Chicago, IL PRESENTER NAME TITLE / REGISTRATION ETC C10-015-023R (12/11) ING Research Highlights the Value of a Financial Professional…

2. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only2 The ING Retirement Research Institute ING is committed to gaining greater insights into the defined contribution landscape, including the many factors that affect how people save for retirement. Through research, studies, tools and work done by the Institute, ING is a resource for plan distributors and employers seeking new ways to understand participant behavior so they can help investors achieve positive retirement outcomes. The Institutes web site, among other things, has materials on a variety of behavioral finance topics that can be used including white papers, presentations with talking points, and lift and load presentations to be incorporated into educational seminars and other speaking engagements. The Institute can be accessed through the web at www.ingretirementresearch.com www.ingretirementresearch.com ING is committed to gaining greater insights into the defined contribution landscape, including the many factors that affect how people save for retirement. Through research, studies, tools and work done by the Institute, ING is a resource for plan distributors and employers seeking new ways to understand participant behavior so they can help investors achieve positive retirement outcomes. The Institutes web site, among other things, has materials on a variety of behavioral finance topics that can be used including white papers, presentations with talking points, and lift and load presentations to be incorporated into educational seminars and other speaking engagements. The Institute can be accessed through the web at www.ingretirementresearch.com www.ingretirementresearch.com

3. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only3 Driving Thought Leadership through the Institute ING is a thought leader committed to understanding employees and finding innovative ways to improve retirement outcomes Employ an intense people-oriented focus Influence public policy And Innovate meaningful solutions

4. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only4 Improve savings rates by appealing to the emotional side of savers and leveraging automatic features Develop market-leading products, advisory solutions, and education to guide near-retirees through lifes transitions Develop simpler product solutions in order to expand access to the more than 75 million workers without workplace access to a retirement plan Behavioral Finance is the study of human reaction and how to improve behavior The ING Retirement Research Institutes thought leadership efforts aim to solve three key societal challenges Half of all workers dont have to workplace savings Too few in their plan or enough Employees are ill-prepared for lifes, especially retirement 1 2 3 access enroll save transitions

5. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only5 Attitudes towards retirement readiness & investing Based on ING Institute for Retirement Research study Beyond the Politics and Pundits: What Americans think about the Private Retirement System People understand the importance of saving, yet do not feel prepared, and dont feel they save enough Regardless of how much they know or do about retirement savings, many Americans still feel underprepared 77% of those polled take an active role in managing their retirement savings. Yet, 66% agreed they are not saving enough. 60%, or six out of ten, were concerned that they wont be prepared for retirement. Opportunity to improve retirement readiness through education, tools, and advisor guidance

6. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only6 When it comes to your financial future… …do you know where you stand? When it comes to your financial future… …do you know where you stand? Tools to educate & engage participants

7. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only7 Linking the power of peer comparison with retirement savings Web-tool, available to everyone Leverages the power of peer- comparison – people like me Compare how you are doing relative to others like you Wide array of financial topics Making it easier for people to know where theyre doing well and where they may need to improve…relative to others Web-tool, available to everyone Leverages the power of peer- comparison – people like me Compare how you are doing relative to others like you Wide array of financial topics Making it easier for people to know where theyre doing well and where they may need to improve…relative to others

8. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only8 Early results indicate people do care about how they compare to peers More than 140,000 visitors have completed the tools comparisons Referenced in Money Magazines 2011 Retirement Guide – Seven Secrets to a Richer Retirement, as a tool to try. Mentioned in BusinessWeeks Rethinking Retirement edition asone of the most up-to-date analyses Top ten innovation of the year honors by Bank Technology News User feedback reinforcing the goal of the tool: I thought I was ok, but see Im just more behind in (important areas) nice wake up call, now rather than later 1 More than 140,000 visitors have completed the tools comparisons Referenced in Money Magazines 2011 Retirement Guide – Seven Secrets to a Richer Retirement, as a tool to try. Mentioned in BusinessWeeks Rethinking Retirement edition asone of the most up-to-date analyses Top ten innovation of the year honors by Bank Technology News User feedback reinforcing the goal of the tool: I thought I was ok, but see Im just more behind in (important areas) nice wake up call, now rather than later 1 1 View expressed here may not be representative of others. Your views may differ.

9. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only9 Our study shows that those who spend time with financial professionals 1 tend to… Save more for retirement… …have greater investment knowledge… and are more confident… 1 Note that the terms financial professional, financial advisor, and advisor are meant to mean the same thing and are used interchangeably in this document

10. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only10 Nearly one-third of our visitors spend some or a lot of time with financial professionals Analyze CompareMe database to better understand investor behaviors in relation to working with a financial professional: Quantify differences between respondents who use a financial professional and those who dont. Assess differences across topics such as retirement savings, investment knowledge, and retirement outlook confidence. Assess differences across demographics such as age, household income, gender, marital status, home ownership, and number of children. Analyze CompareMe database to better understand investor behaviors in relation to working with a financial professional: Quantify differences between respondents who use a financial professional and those who dont. Assess differences across topics such as retirement savings, investment knowledge, and retirement outlook confidence. Assess differences across demographics such as age, household income, gender, marital status, home ownership, and number of children. Have you ever spent time with a financial professional to discuss your investments or plan your financial future? Study based on a sample of 14,062 respondents 1 : Represents all respondents who answered the question Have you ever spent time with a financial professional to discuss investments or plan your financial future. Respondent responses are self-reported and unaudited Spent no time with an advisor Met with an advisor once or twice Spent some time with an advisor Spent a lot of time with an advisor 41% 28% 24% 7% 1 Based on INGCompareMe data collected as of May 24, 2010

11. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only11 Demographic breakdown Time with a financial professional is higher… 1 Represents those that answered yes, but only once or twice; yes, some time; yes, a lot of time versus those who answered no …with age …and with household income …for men than for women …for married people than for singles Early career 18-34 Mid- career 35-49 Pre- retiree 50+ % of respondents who spent time with an advisor 1 51% 60% 68% Household Income less than $75K Household Income more than $75K 50% 65% % of respondents who spent time with an advisor 1 Women Men 57% 61% Single Married 53% 62% Time with a financial professional increases…

12. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only12 Save more for retirement When compared with demographic factors, only household income and age are more significant predictors of retirement savings Time spent with a financial professional is more significant than gender, home ownership, marital status, and number of children People who spend time with a financial professional also have more spending money after paying for essentials 1 When compared with demographic factors, only household income and age are more significant predictors of retirement savings Time spent with a financial professional is more significant than gender, home ownership, marital status, and number of children People who spend time with a financial professional also have more spending money after paying for essentials 1 People who spend time with a financial professional save more for retirement People who spend time with a financial professional save more for retirement Those who spend some or a lot of time with a financial professional also save on average 2 to 3 times more than those that spend no time with a financial advisor 1 This difference holds true across all income levels 2 Represents average values 2x 3x How much do you have saved for retirement? 2 No Yes, a lot of time Yes, but only once or twice Yes, some time spent time with advisor? 1.5x

13. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet They save more, and still have more discretionary income For Financial Professional Use Only13 Annual Household Income Add TPS At the lowest income levels, spending some or a lot of time with and advisor means nearly double the monthly discretionary income Across all income levels, time with an advisor increases extra money. At the lowest income levels, spending some or a lot of time with and advisor means nearly double the monthly discretionary income Across all income levels, time with an advisor increases extra money. Spending time with a financial professional means more spending money Approximately how much spending money do you have each month after covering essentials (food, clothing, shelter)? Spent time with professional?

14. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only14 Greater investment knowledge Which of the following do you think best characterizes your investment knowledge as compared to other people like you? 1 1 Answer options are less than my peers, same as my peers, and more than my peers 58% of people who spend a lot of time with a financial professional feel they have greater investment knowledge compared to their peers Those who answered know more than peers Those who spend more time with a financial professional believe they know more about investments than their peers, and consider themselves less conservative investors Those who spend more time with a financial professional believe they know more about investments than their peers, and consider themselves less conservative investors Spent time with professional?

15. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only15 Less conservative Spending time with an advisor can impact risk tolerance. People who spend more time with a financial professional are more likely to consider themselves to be moderate investors than conservative People who spend less time with a financial professional are more likely to describe themselves as conservative investors People who spend more time with a financial professional are more likely to consider themselves to be moderate investors than conservative People who spend less time with a financial professional are more likely to describe themselves as conservative investors 1 Answer options are less than my peers, same as my peers, and more than my peers Spending time with a professional can help people understand and accept the potential risk-return trade-off… without turning them into aggressive investors… and they may then be… Spent time with professional?

16. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only16 More confident about retirement 1 Answer options are extremely confident, very confident, somewhat confident, not very confident, not at all confident 62% of people who have spent a lot of time with an advisor are extremely or very confident about enjoying retirement Conversely, only 34% of people who have spent no time with a financial advisor are extremely or very confident about enjoying retirement 48% of people think healthcare will be their biggest expense in retirement 62% of people who have spent a lot of time with an advisor are extremely or very confident about enjoying retirement Conversely, only 34% of people who have spent no time with a financial advisor are extremely or very confident about enjoying retirement 48% of people think healthcare will be their biggest expense in retirement The more time spent with a financial professional, the more a person is confident that they can spend retirement doing the activities they enjoy Those who spend more time with a financial professional are more confident about enjoying retirement and doing the activities they enjoy How confident are you that you will be able to spend your retirement doing the activities you enjoy 1 No Yes, a lot of time 34% Yes, but only once or twice Yes, some time 39% 50% 62% Those who answered very confident or extremely confident Spent time with professional?

17. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only17 Leverage ING tools such as ingcompareme.com to help further engage clients Use the ING Retirement Research Institute resources to better understand participant behaviors (ingretirementresearch.com) (ingretirementresearch.com) The more time you spend with your clients the more they trust you and rely on your investment advice Focus attention on most valued clients to build lasting relationships Leverage Morningstar Managed Accounts to help service remaining clients Conclusions Our data suggests that people value time spent with financial professionals… Save to times more money two three Believe they are nearly as knowledgeable about investing twice Are significantly about retirement more confident Your hard work is appreciated 1 1 Represents the difference between those who have spent no time with an advisor and those who have spent a lot of time with an advisor

18. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only18 Other Institute Research & Ongoing Analysis With the passing of healthcare reform, 46% of surveyed participants think they need to save more for retirement. this demonstrates that an employer retirement plan is a critical part of retirement investing. 36% of surveyed participants are not sure what the effect will be on their retirement savings. participants need guidance and education. Health care reform and Retirement Savings 1 When asked at what age you plan to retire: 26% of surveyed participants were not sure. Education, guidance, and tools can help such participants better understand their options and when they can expect to retire. Of the 50% that provided a retirement age, 65 was far and away the most desired retirement age. Very few individuals expect to retire early. Women expect to retire later than do men. Retirement Age 2 Respondents were asked how would you like to spend your time in retirement People who want to be more active save more, versus people who dont know or responded other to the question Save more – People who plan to go back to school, volunteer, travel, and enjoy hobbies Save slightly less: People who plan on spending time with family Save a lot less: People who dont know or responded other Level of retirement savings versus interests in retirement 3 Based on information provided by users on ingcompareme.com, the three states with the highest median retirement savings are Hawaii, New Hampshire, and Connecticut The states with the lowest median retirement savings are Montana, Delaware, and Wyoming Northeast leads nation in retirement savings 3 * Fewer than 300 observations 1 Voice of Customer Insight: Now that healthcare reform has passed, do you think you need to save more or less for retirement? 2 Voice of Customer Insight: At what age do you plan to retire? 3 Ongoing analysis – preliminary findings

19. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet For Financial Professional Use Only19 Nothing contained herein should be construed as (i) an offer to sell or solicitation of an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Any opinions expressed herein reflect our judgment and are subject to change. Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels, (4) increasing levels of loan defaults (5) changes in laws and regulations and (6) changes in the policies of governments and/or regulatory authorities. The opinions, views and information expressed in this presentation are subject to change without notice based on market conditions and other factors. The information provided is not a recommendation to buy or sell any security. Products and services are offered through ING family of companies. Please log on to www.ING.com/us for information regarding other products and services offered through ING family of companies. Not all products are available in all states. © 2010 ING North America Insurance Corporation C10-0921-010R (09/10) Nothing contained herein should be construed as (i) an offer to sell or solicitation of an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Any opinions expressed herein reflect our judgment and are subject to change. Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels, (4) increasing levels of loan defaults (5) changes in laws and regulations and (6) changes in the policies of governments and/or regulatory authorities. The opinions, views and information expressed in this presentation are subject to change without notice based on market conditions and other factors. The information provided is not a recommendation to buy or sell any security. Products and services are offered through ING family of companies. Please log on to www.ING.com/us for information regarding other products and services offered through ING family of companies. Not all products are available in all states. © 2010 ING North America Insurance Corporation C10-0921-010R (09/10) IMPORTANT INFORMATION