Document:

<PAGE>

                                                                    EXHIBIT 4.10

                               CLOSING INSTRUMENT

      WHEREAS, the parties named herein desire to enter into certain Program
Documents contained herein, each such document dated as of this - day of -, 200-
(the "Original Issue Date"), relating to the issuance by ING USA Global Funding
Trust [-] (the "Trust") of Notes to investors under the secured notes program of
ING USA Annuity and Life Insurance Company ("ING USA");

      WHEREAS, the Trust is a trust organized under, and its activities will be
governed by, the provisions of the Trust Agreement as set forth in the omnibus
instrument related to the Trust dated as of the date of the Pricing Supplement
(the "Omnibus Instrument");

      WHEREAS, certain licensing arrangements between the Trust and ING Groep
N.V. will be governed pursuant to the provisions of the License Agreement, as
set forth in the Omnibus Instrument;

      WHEREAS, the Notes will be issued pursuant to the Indenture, as set forth
in the Omnibus Instrument (the "Indenture");

      WHEREAS, the sale of the Notes will be governed by the Terms Agreement, as
set forth in the Omnibus Instrument;

      WHEREAS, certain custodial arrangements of the Funding Agreement will be
governed pursuant to the provisions of the Custodial Agreement dated as of ? by
and among U.S. Bank National Association, acting as custodian (the "Custodian"),
the Indenture Trustee and the Trustee, on behalf of the Trust;

      WHEREAS, certain agreements relating to the Notes and the Funding
Agreement are set forth in the Coordination Agreement, as set forth in the
Omnibus Instrument.

      All capitalized terms used herein and not otherwise defined will have the
meanings set forth in the Indenture.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>

                                     PART I
                            INSTRUCTIONS OF THE TRUST

      As of the Original Issue Date, the Trust herewith delivers to the
Indenture Trustee, or has caused to be delivered to the Indenture Trustee, the
Notes specified in the Pricing Supplement, having the initial principal amount
as set in the Pricing Supplement.

      As of the Original Issue Date, the Trust hereby instructs the Indenture
Trustee to take all actions required to be taken with respect to the Notes under
Section 2.06(e) of the Indenture.

      As of the Original Issue Date, ING USA and the Trust hereby direct the
Indenture Trustee to deposit the Net Proceeds to the Trust (as specified in the
Pricing Supplement) in respect of the Notes to:

   Bank: Citibank, N.A.
   Account: ING USA Annuity and Life Insurance Company
   ABA #:
   Account #:
   Contract #: RMTN -

      As of the Original Issue Date, the agent(s) specified in the Pricing
Supplement hereby direct(s) the Indenture Trustee to deliver the Notes as
follows:

      [Insert delivery instructions]

                  [Remainder of Page Intentionally Left Blank]

                                      I-1
<PAGE>

                                    PART II

            ACKNOWLEDGMENT OF INDENTURE TRUSTEE CONCERNING THE NOTES

      The Indenture Trustee certifies, as of the Original Issue Date, the
following:

      (a)   The Indenture Trustee acknowledges receipt of the Notes; and

      (b)   The Indenture Trustee (including in its capacity as Registrar) has
taken all action required to be taken with respect to the Notes under Section
2.06(e) of the Indenture.

                  [Remainder of Page Intentionally Left Blank]

                                      II-1
<PAGE>

                                    PART III
             CERTIFICATE REGARDING CUSTODY OF THE FUNDING AGREEMENT

      In connection with the issuance of the Funding Agreement and the
Assignment of Funding Agreement (set forth in Part IV of this Closing
Instrument), the Custodian hereby represents that it has received delivery of
the Funding Agreement and is holding the Funding Agreement for the benefit of
the Indenture Trustee and that the Funding Agreement is in the possession of the
Custodian at the address below:

      U.S. Bank National Association
      950 17th Street, Suite 300
      Denver, Colorado 80202

                  [Remainder of Page Intentionally Left Blank]

                                     III-1
<PAGE>

                                    PART IV
                         ASSIGNMENT OF FUNDING AGREEMENT

      Pursuant to the terms of the Indenture, the Trust hereby grants to the
Indenture Trustee, for the benefit of the Holders of the Notes, a first priority
perfected security interest in, and collaterally assigns to the Indenture
Trustee, for the benefit of the Holders of the Notes, the Trust's right, title,
benefits, remedies and interests in, to and under the Funding Agreement and the
other Collateral described in the Indenture and all of its rights and privileges
with respect to the Collateral and all income and profits thereon, and all
interest, dividends and other payments and distributions with respect thereto,
and all Proceeds of the foregoing.

      Each of the Trust, the Indenture Trustee and ING USA hereby agrees that,
in furtherance of the collateral assignment described above, until such time as
the Indenture Trustee notifies the Trust and ING USA that all obligations of the
Trust pursuant or related to the Notes have been paid or satisfied in full, the
Indenture Trustee shall have and may exercise the rights and remedies of an
Owner (as defined in the Funding Agreement) under the Funding Agreement.
Notwithstanding the foregoing (and whether or not the foregoing notification is
given) and Section 5 of the Funding Agreement (which ING USA acknowledges and
agrees has been complied with), all obligations, representations and warranties
of an Owner under the Funding Agreement shall nevertheless remain obligations,
representations and warranties of the Trust, as the case may be, and shall not
be obligations, representations or warranties of the Indenture Trustee. ING USA
and the Trust hereby agree that, until such time as the Indenture Trustee
notifies the Trust and ING USA that all obligations of the Trust pursuant to or
related to the Notes have been paid or satisfied in full, ING USA will comply
with instructions originated by the Indenture Trustee with respect to the
Funding Agreement without further consent by the Trust.

      ING USA hereby affirms that it has recorded the collateral assignment and
grant of the security interest on its books and records to reflect the same
described above. ING USA agrees that it will comply with all orders of the
Indenture Trustee with respect to the Funding Agreement without any further
consent of the Trust. ING USA hereby confirms that it has received all documents
and instruments which it requires pursuant to the terms of the Funding Agreement
in connection with the collateral assignment and grant of such security interest
and/or rights of the Indenture Trustee hereunder.

      ING USA hereby also represents that it has not received any notice of any
adverse claim to the Funding Agreement, other than the creation and perfection
of a security interest in the Funding Agreement, and the proceeds thereof as
described herein.

      The collateral assignment and grant of the security interest and this
instrument shall be governed by, and shall be construed and enforced in
accordance with, the laws of the State of New York, without regard to conflicts
of laws principles thereof, and shall be binding upon, and shall inure to the
benefit of, the parties hereto and their respective successors and assigns.

      This instrument may not be amended, modified or waived without the consent
of the Indenture Trustee, the Trust and ING USA.

      The Custodian hereby acknowledges the terms of this Assignment of Funding
Agreement.

                  [Remainder of Page Intentionally Left Blank]

                                      IV-1
<PAGE>

                                     PART V
                 ACKNOWLEDGEMENT OF FUNDING AGREEMENT ASSIGNMENT

      ING USA has issued the Funding Agreement to the Trust. By this instrument,
the receipt of which ING USA hereby acknowledges, the Trust has informed ING USA
that it has conveyed and assigned (for security purposes) all of its right,
title, benefits, remedies and interests in, to and under the Funding Agreement
to the Indenture Trustee pursuant to the Indenture.

      ING USA hereby consents to the aforementioned assignment of the Funding
Agreement with respect to the assignment thereof to the Indenture Trustee under
the Indenture. ING USA affirms that it has changed its books and records to
reflect such assignment and agrees to make payments in accordance with the terms
of the Funding Agreement to the Indenture Trustee. ING USA also agrees that all
of the covenants made in the Funding Agreement are also for the benefit of the
Indenture Trustee, and further agrees that ING USA shall deliver to the
Indenture Trustee duplicate original copies of all notices, statements,
communications and instruments delivered by ING USA to the Trust pursuant to the
Funding Agreement.

      ING USA agrees to execute and deliver to the Trust and the Indenture
Trustee such documents and take such other action as the Trust and the Indenture
Trustee may reasonably request in order to ensure that the consent granted by
ING USA pursuant to the preceding paragraph shall remain continuously effective
until the termination of the Funding Agreement. The consent contained in the
preceding paragraph is coupled with an interest and shall be irrevocable.

      This acknowledgment of collateral assignment and grant of security
interest and this instrument shall be governed by, and shall be construed and
enforced in accordance with, the laws of the State of New York, without regard
to conflicts of laws principles thereof, and shall be binding upon, and shall
inure to the benefit of, the parties hereto and their respective successors and
assigns.

      This instrument may not be amended, modified or waived without the consent
of the Indenture Trustee, the Trust and ING USA.

      The Custodian hereby acknowledges the terms of this Acknowledgment of
Funding Agreement Assignment.

                  [Remainder of Page Intentionally Left Blank]

                                      V-1
<PAGE>

                                    PART VI
                           NOTICE OF SECURITY INTEREST

      Pursuant to the Indenture, the Trust has collaterally assigned the Funding
Agreement to the Indenture Trustee pursuant to the Indenture.

      Notice is hereby given that the Indenture Trustee, on behalf of the
Holders of the Notes, has a security interest in the Collateral, including, but
not limited to, any and all payments to be made by ING USA to the Trust pursuant
to the Funding Agreement. ING USA, by executing this instrument, hereby (x)
consents to the security interest granted by the Trust, to the Indenture Trustee
in the payments under the Funding Agreement, (y) agrees to make all payments due
under the Funding Agreement to the Collection Account or any other account
designated in writing to ING USA by the Indenture Trustee and (z) agrees to
comply with all orders of the Indenture Trustee with respect to the Funding
Agreement without any further consent from the Trust.

      This notice of security interest shall be governed by, and shall be
construed and enforced in accordance with, the laws of the State of New York,
without regard to conflicts of laws principles thereof, and shall be binding
upon, and shall inure to the benefit of, the parties hereto and their respective
successors and assigns.

      This instrument may not be amended, modified or waived without the consent
of the Indenture Trustee, the Trust and ING USA.

      The Custodian hereby acknowledges the terms of this Notice of Security
Interest.

                  [Remainder of Page Intentionally Left Blank]

                                      VI-1
<PAGE>

                                    PART VII
                          ING USA OFFICER'S CERTIFICATE

      The undersigned, an authorized officer of ING USA, does hereby certify to
each agent that is a party to the Terms Agreement (as defined in the Omnibus
Instrument) relating to the Notes, in such capacity and on behalf of ING USA,
pursuant to the Distribution Agreement, that:

      1.    Since the respective dates as of which information is given in the
Prospectus (as defined in the Distribution Agreement), as of the date hereof,
there has been no material adverse change in the condition, financial or
otherwise, or in the earnings, business affairs or business prospects of ING USA
and its subsidiaries considered as one enterprise, whether or not arising in the
ordinary course of business;

      2.    The representations and warranties of ING USA contained in the
Distribution Agreement are true and correct with the same force and effect as
though expressly made at and as of the date hereof;

      3.    ING USA has complied with all agreements and satisfied all
conditions on its part to be performed or satisfied at or prior to the date
hereof;

      4.    No stop order suspending the effectiveness of the Registration
Statement (as defined in the Distribution Agreement) has been issued and no
proceedings for that purpose have been instituted or are pending or, to the best
of such person's knowledge, are threatened by the Commission (as defined in the
Distribution Agreement); and

      5.    Since the date of the Prospectus, there has occurred no event
required to be set forth in an amendment or supplement to the Registration
Statement or Prospectus, and there has been no document required to be filed
under the 1933 Act, the 1933 Act Regulations, the 1934 Act or the 1934 Act
Regulations (all as defined in the Distribution Agreement) which, upon filing,
would be deemed to be incorporated by reference in the Prospectus which has not
been so filed.

                  [Remainder of Page Intentionally Left Blank]

                                     VII-1
<PAGE>

                                   PART VIII
                                TRUST CERTIFICATE

      The Trust does hereby certify to each Relevant Agent that is a party to
the Terms Agreement (as defined in the Omnibus Instrument) relating to the
Notes, in such capacity and on behalf of the Trust, pursuant to the Distribution
Agreement and Terms Agreement, as applicable, that:

      1.    Since the respective dates as of which information is given in the
Prospectus (as defined in the Distribution Agreement), as of the date hereof,
there has been no material adverse change in the condition, financial or
otherwise, or in the earnings, business affairs or business prospects of the
Trust, whether or not arising in the ordinary course of business;

      2.    The representations and warranties of the Trust contained in the
Distribution Agreement are true and correct with the same force and effect as
though expressly made at and as of the date hereof; and

      3.    The Trust has complied with all agreements and satisfied all
conditions on its part to be performed or satisfied at or prior to the date
hereof.

      4.    It is expressly understood that: (i) this Certificate is executed by
U.S. Bank National Association, not in its individual capacity but solely as
Trustee of the Trust, in the exercise of the power and authority conferred and
vested in it as such Trustee and (ii) each of the representations made herein by
the Trustee are not personal representations, undertakings and agreements of
U.S. Bank National Association or its officers, but are binding solely on the
Trust.

                  [Remainder of Page Intentionally Left Blank]

                                     VIII-1
<PAGE>

                                    PART IX
                              ING USA CERTIFICATION

      ING USA certifies, as of the Original Issue Date, that the ING USA
Officer's Certificate, a copy of which is attached as Exhibit A to this Closing
Instrument, is true and correct and remains in full force and effect.

                  [Remainder of Page Intentionally Left Blank]

                                      IX-1
<PAGE>

                                     PART X
                         INDENTURE TRUSTEE CERTIFICATION

      The Indenture Trustee certifies, as of the Original Issue Date, that the
Indenture Trustee Officer's Certificate, a copy of which is attached as Exhibit
B to this Closing Instrument, is true and correct and remains in full force and
effect.

                  [Remainder of Page Intentionally Left Blank]

                                      X-1
<PAGE>

                                    PART XI
                              TRUSTEE CERTIFICATION

      The Trustee certifies, as of the Original Issue Date, that the Trustee
Officer's Certificate, a copy of which is attached as Exhibit C to this Closing
Instrument, is true and correct and remains in full force and effect.

                  [Remainder of Page Intentionally Left Blank]

                                      XI-1
<PAGE>

                                    PART XII
                          RELEVANT AGENT CERTIFICATION

      On the date hereof, the Trust will issue Notes in accordance with the
terms of the Distribution Agreement. [The] [Each] Relevant Agent hereby
certifies to ING USA and the Trust as follows:

      (i)   that such Relevant Agent has anti-money laundering policies and
procedures in place in accordance with the requirements imposed by the Uniting
and Strengthening America by Providing Appropriate Tools Required to Intercept
and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), Pub. L, 107-56, 115 Stat.
280 (October 26, 2001), or any rules or regulations promulgated thereunder, and
the Foreign Assets Control Regulations issued by the Office of Foreign Assets
Control of the United States Department of Treasury (31 CFR Part 500), in each
case to the extent applicable to such Relevant Agent; and

      (ii)  that such Relevant Agent has implemented an anti-money laundering
compliance program pursuant to NASD Rule 3011, to the extent applicable to such
Relevant Agent.

                  [Remainder of Page Intentionally Left Blank]

                                     XII-1
<PAGE>

                                   PART XIII

                                  CROSS-RECEIPT

      The Trust hereby acknowledges receipt of the Net Proceeds to the Trust (as
specified in the Pricing Supplement) from the Indenture Trustee and herewith
delivers to the Indenture Trustee, or has caused to be delivered to the
Indenture Trustee, the Notes, duly executed by the Trust pursuant to the
Indenture.

      The Trust hereby acknowledges receipt of funds for the Trust Beneficial
Interest from or at the direction of the Trust Beneficial Owner and has caused
to be registered in the name of the Trust Beneficial Owner the Trust Beneficial
Interest pursuant to the Trust Agreement.

      ING USA hereby acknowledges receipt of the Net Proceeds to the Trust and,
for purposes of the Funding Agreement, the receipt of the Net Proceeds to the
Trust shall be deemed to be received by ING USA in full of the Net Deposit (as
specified in the Funding Agreement). ING USA herewith delivers to the Indenture
Trustee, or has caused to be delivered to the Indenture Trustee, the Funding
Agreement, duly executed by ING USA.

      The Custodian, on behalf of the Indenture Trustee, hereby acknowledges
receipt from ING USA of the Funding Agreement.

      The Trust Beneficial Owner hereby acknowledges ownership of the Trust
Beneficial Interest.

      Each Relevant Agent hereby acknowledges receipt of the Notes.

      The Indenture Trustee hereby acknowledges the terms of this Cross-Receipt.

                  [Remainder of Page Intentionally Left Blank]

                                     XIII-1
<PAGE>

                                    PART XIV

                        MISCELLANEOUS AND EXECUTION PAGES

      This Closing Instrument may be executed by each of the parties hereto in
any number of counterparts, and by each of the parties hereto on separate
counterparts, each of which counterparts, when so executed and delivered, shall
be deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

      Each signatory, by its execution hereof, does hereby become a party to
each of the agreements or instruments identified for such party as of the
Original Issue Date.

      IN WITNESS WHEREOF, the undersigned have executed this Closing Instrument
with respect to the Trust, dated as of the date first written above.

                                       By: ING USA ANNUITY AND LIFE
                                           INSURANCE COMPANY (in executing below
                                           agrees and becomes a party to (i) the
                                           Instructions of the Trust set forth
                                           in Part I herein, (ii) the Assignment
                                           of Funding Agreement set forth in
                                           Part IV herein, (iii) the
                                           Acknowledgement of Funding Agreement
                                           Assignment set forth in Part V
                                           herein, (iv) the Notice of Security
                                           Interest set forth in Part VI herein,
                                           (v) the ING USA Certification set
                                           forth in Part IX herein and (vi) the
                                           Cross-Receipt set forth in Part XIII
                                           herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                  [Execution Page 1 of the Closing Instrument]

<PAGE>

                                       By: THE ING USA GLOBAL FUNDING TRUST
                                           DESIGNATED IN THIS CLOSING INSTRUMENT
                                           (in executing below agrees and
                                           becomes party to (i) the Instructions
                                           of the Trust set forth in Part I
                                           herein, (ii) the Assignment of
                                           Funding Agreement set forth in Part
                                           IV herein, (iii) the Acknowledgement
                                           of Funding Agreement Assignment set
                                           forth in Part V herein, (iv) the
                                           Notice of Security Interest set forth
                                           in Part VI herein, (v) the Trust
                                           Certificate set forth in Part VIII
                                           herein and (vi) the Cross-Receipt set
                                           forth in Part XIII herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                                       By: CITIBANK, N.A., in its capacity as
                                           Indenture Trustee, Registrar,
                                           Transfer Agent, Paying Agent and
                                           Calculation Agent (in executing below
                                           agrees and becomes party to (i) the
                                           Instructions of the Trust set forth
                                           in Part I herein, (ii) the
                                           Acknowledgement of Indenture Trustee
                                           Concerning the Notes set forth in
                                           Part II herein, (iii) the Assignment
                                           of Funding Agreement set forth in
                                           Part IV herein, (iv) the
                                           Acknowledgement of Funding Agreement
                                           Assignment set forth in Part V
                                           herein, (v) the Notice of Security
                                           Interest set forth in Part VI herein,
                                           (vi) the Indenture Trustee
                                           Certification set forth in Part X
                                           herein and (vii) the Cross-Receipt
                                           set forth in Part XIII herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                  [Execution Page 2 of the Closing Instrument]

<PAGE>

                                       By: U.S. BANK NATIONAL ASSOCIATION, in
                                           its capacity as Trustee (in executing
                                           below agrees and becomes a party to
                                           the Trustee Certification set forth
                                           in Part XI herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                                       By: U.S. BANK NATIONAL ASSOCIATION, in
                                           its capacity as Custodian (in
                                           executing below agrees and becomes a
                                           party to (i) the Certificate
                                           Regarding Custody of the Funding
                                           Agreement set forth in Part III
                                           herein, (ii) the Assignment of
                                           Funding Agreement set forth in Part
                                           IV herein, (iii) the Acknowledgment
                                           of Funding Agreement Assignment set
                                           forth in Part V herein, (iv) the
                                           Notice of Security Interest set forth
                                           in Part VI herein and (v) the
                                           Cross-Receipt set forth in Part XIII
                                           herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                                       By: GSS HOLDINGS II, INC., in its
                                           capacity as Trust Beneficial Owner
                                           (in executing below agrees and
                                           becomes a party to the Cross-Receipt
                                           set forth in Part XIII herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                  [Execution Page 3 of the Closing Instrument]

<PAGE>

                                       By: [Name], in his/her capacity as an
                                           authorized officer of ING USA (in
                                           executing below agrees and becomes a
                                           party to the ING USA Officer's
                                           Certificate set forth in Part VII
                                           herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                  [Execution Page 4 of the Closing Instrument]

<PAGE>

                                       By: [MERRILL LYNCH, PIERCE, FENNER &
                                           SMITH INCORPORATED] (in executing
                                           below agrees and becomes a party to
                                           (i) the Instructions of the Trust set
                                           forth in Part I herein, (ii) the
                                           Relevant Agent Certification set
                                           forth in Part XII herein and (iii)
                                           the Cross-Receipt set forth in Part
                                           XIII herein)

                                           By:_____________________________
                                           Name:___________________________
                                           Title:__________________________

                  [Execution Page 5 of the Closing Instrument]

<PAGE>

                                    EXHIBIT A

                          ING USA OFFICER'S CERTIFICATE

      I, an officer of ING USA Annuity and Life Insurance Company, an insurance
company organized under the laws of Iowa ("ING USA"), being fully aware of the
by-laws (the "By-Laws") and resolutions of ING USA, hereby certify on behalf of
ING USA that:

1.    Attached hereto as Annex I is a true, correct and complete copy of the
      Articles of Incorporation and, as Annex II, a true, correct and complete
      copy of the By-Laws of ING USA, together with all amendments thereto, if
      any, as in full force from the date thereof through to the Original Issue
      Date.

2.    Attached hereto as Annex III is a true, correct and complete copy of the
      resolution duly adopted by the Board of Directors of ING USA at a meeting
      duly called and held on ______, 200_, which resolution is relevant to the
      Program, including the issuance of the Notes, and such resolution has not
      been amended, modified or rescinded and remains in full force and effect;
      and such resolution is the only resolution adopted by ING USA relating to
      the Program and the Notes.

3.    Attached hereto as Annex IV is a list of each of the duly elected officers
      of ING USA holding on the Original Issue Date the office or offices set
      forth opposite his or her name authorized on behalf of ING USA (i) to
      execute (manually or by facsimile) all agreements, documents, notices,
      acknowledgements and certificates to which ING USA is a party or which ING
      USA is required to deliver in connection with the issuance of the Notes
      and (ii) to take any other action on behalf of ING USA in relation to the
      above issue; and such signatures set forth therein are the true signatures
      of such persons.

      All capitalized terms used and not defined herein shall have the meanings
assigned to those terms in the Indenture.

                                       By: [Name], in [his/her] capacity as an
                                           officer of ING USA Annuity and Life
                                           Insurance Company

                                       By:____________________________________
                                       Name:__________________________________
                                       Title:_________________________________

                                      A-1
<PAGE>

                                    EXHIBIT B

                     INDENTURE TRUSTEE OFFICER'S CERTIFICATE

      I, an officer of Citibank, N.A., as indenture trustee (the "Indenture
Trustee"), hereby certify that:

      1.    The Indenture entered into as of the Original Issue Date by and
            between the Trust and the Indenture Trustee has been duly executed
            and delivered in the name and on behalf of the Indenture Trustee by
            one of its authorized officers.

      2.    Each of the persons named on Annex I hereto has been duly elected or
            appointed and is duly qualified as an officer of the Indenture
            Trustee on the Original Issue Date, holding the office or offices
            set forth opposite his or her name, and the signature set forth
            opposite his or her name is a specimen of his or her genuine
            signature.

      3.    Attached hereto as Annex II is a true, correct and complete copy of
            the By-laws of the Indenture Trustee as in effect on the Original
            Issue Date.

      4.    The Notes issued by the Trust have been duly authenticated by the
            Indenture Trustee.

                                       By: [Name], in [his/her] capacity as an
                                           officer of Citibank, N.A., as
                                           indenture trustee

                                       By:____________________________________
                                       Name:__________________________________
                                       Title:_________________________________

                                      B-1
<PAGE>

                                    EXHIBIT C

                          TRUSTEE OFFICER'S CERTIFICATE

      I, an officer of U.S. Bank National Association, as trustee (the
"Trustee"), hereby certify that:

      1.    Each of the persons named on Annex I hereto has been duly elected or
            appointed and is duly qualified as an officer of the Trustee on the
            Original Issue Date, holding the office or offices set forth
            opposite his or her name, and the signature set forth opposite his
            or her name is a specimen of his or her genuine signature.

      2.    Attached hereto as Annex II is a true, correct and complete copy of
            the By-laws of the Trustee as in effect on the Original Issue Date.

                                       By: [Name], in [his/her] capacity as an
                                           officer of U.S. Bank National
                                           Association, as trustee

                                       By:____________________________________
                                       Name:__________________________________
                                       Title:_________________________________

                                      C-1<PAGE>

                                                                    EXHIBIT 4.11

================================================================================

                               CUSTODIAL AGREEMENT

                                      among

                                 CITIBANK, N.A.,
                              as Indenture Trustee,

                         U.S. BANK NATIONAL ASSOCIATION,
                                   as Trustee,

                                       and

                         U.S. BANK NATIONAL ASSOCIATION,
                                  as Custodian

                                  Dated as of -

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                 PAGE
<S>                                                                                              <C>

                                          ARTICLE 1
                                         DEFINITIONS

SECTION 1.1.   Incorporation of Definitions by Reference........................................  2

                                          ARTICLE 2
                                  APPOINTMENT OF CUSTODIAN

SECTION 2.1.   Appointment of Custodian.........................................................  2
SECTION 2.2.   Custodian not subject to direction of Trustee....................................  2

                                          ARTICLE 3
                            DELIVERY OF ING USA FUNDING AGREEMENTS

SECTION 3.1.   Delivery of ING USA Funding Agreements...........................................  2
SECTION 3.2.   Limited Interest of Trusts.......................................................  3
SECTION 3.3.   Security Interest of Indenture Trustee...........................................  3
SECTION 3.4.   Indenture Trustee Covenant to Abide by Custodial Agreement.......................  3

                                          ARTICLE 4
                  INSPECTION OF ING USA FUNDING AGREEMENTS, BOOKS AND RECORDS

SECTION 4.1.   Inspection of ING USA Funding Agreements.........................................  3
SECTION 4.2.   Inspection of Books and Records..................................................  3

                                          ARTICLE 5
                                    DUTIES OF CUSTODIAN

SECTION 5.1.   General..........................................................................  3
SECTION 5.2.   Merger, Conversion or Consolidation of Custodian.................................  5
SECTION 5.3.   Compliance with Writs, Orders or Decrees.........................................  5
SECTION 5.4.   Delegation of Duties.............................................................  6
SECTION 5.5.   No Constructive Knowledge........................................................  6
SECTION 5.6.   Reliance.........................................................................  6
SECTION 5.7.   Release of ING USA Funding Agreements............................................  6
SECTION 5.8.   Limitations of Custodian Responsibility..........................................  6
SECTION 5.9.   Other Activities of the Custodian................................................  7

                                          ARTICLE 6
                                  FEES AND COMPENSATION

SECTION 6.1.   Compensation, Expenses and Indemnification.......................................  8
</TABLE>

                             i
<PAGE>

<TABLE>
<S>                                                                                              <C>
                                           ARTICLE 7
                       REPRESENTATIONS, WARRANTIES AND COVENANTS OF CUSTODIAN

SECTION 7.1.   Representations and Warranties of Custodian.....................................   8
SECTION 7.2.   Covenants of Custodian..........................................................   9

                                          ARTICLE 8
                                         TERMINATION

SECTION 8.1.   General.........................................................................   9
SECTION 8.2.   Termination by Custodian........................................................  10
SECTION 8.3.   Termination by Indenture Trustee Without Cause..................................  10
SECTION 8.4.   Termination by Indenture Trustee for Cause......................................  10
SECTION 8.5.   Liabilities After Termination...................................................  11
SECTION 8.6.   Appointment of Successor Custodian..............................................  11
SECTION 8.7.   Rights and Remedies of Indenture Trustee Regarding Termination..................  11
SECTION 8.8.   Actions Upon Termination........................................................  12

                                          ARTICLE 9
                              LIMITATION OF TRUSTEE LIABILITY

SECTION 9.1.   Trustee Liability...............................................................  12

                                          ARTICLE 10
                                     GENERAL PROVISIONS

SECTION 10.1.  Binding Effect; Successors, Transferees and Assigns.............................  13
SECTION 10.2.  Amendments......................................................................  13
SECTION 10.3.  Assignment of ING USA Funding Agreements........................................  13
SECTION 10.4.  Notices.........................................................................  13
SECTION 10.5.  Address of Custodian............................................................  14
SECTION 10.6.  Waiver of Certain Rights........................................................  14
SECTION 10.7.  Provisions Separable............................................................  15
SECTION 10.8.  Governing Law...................................................................  15
SECTION 10.9.  Waiver of Jury Trial............................................................  15
SECTION 10.10. Headings Not to Affect Interpretation...........................................  15
SECTION 10.11. Counterparts....................................................................  15
SECTION 10.12. Acknowledgment of Multiple Roles................................................  15

EXHIBIT A      CERTIFICATE REGARDING CUSTODY OF THE FUNDING AGREEMENT
</TABLE>

                                       ii
<PAGE>

            THIS CUSTODIAL AGREEMENT (this "CUSTODIAL AGREEMENT") is entered
into as of -, among U.S. BANK NATIONAL ASSOCIATION, a national banking
association, acting as Custodian (the "CUSTODIAN"), CITIBANK, N.A., a national
banking association duly incorporated and existing under the laws of the United
States of America, not in its individual capacity but solely as the Indenture
Trustee (the "INDENTURE TRUSTEE") for one or more series of the Notes (as
defined below), each to be issued by a common law trust (each a "TRUST")
organized in connection with the Program (as defined in the Indenture (as
defined below)), and U.S. BANK NATIONAL ASSOCIATION, a national banking
association, as trustee (the "TRUSTEE") on behalf of each Trust organized in
connection with the Program.

            WHEREAS, the Program provides for the continuous issuance of one or
more series of medium term notes (the "NOTES") pursuant to one or more separate
Indentures for each series of Notes among the relevant Trust and other parties
named therein, as each may be amended, modified, restated, supplemented and/or
replaced from time to time (the "INDENTURE");

            WHEREAS, in connection with the issuance and sale of the Notes, each
Trust will purchase from ING USA Annuity and Life Insurance Company ("ING USA")
one or more Funding Agreements (as defined in the Indenture) relating to Notes
issued by such Trust (each such Funding Agreement, an "ING USA FUNDING
AGREEMENT");

            WHEREAS, to secure the full and punctual payment of the Secured
Obligations (as defined in the Indenture) in accordance with the terms thereof
and to secure the performance of each Trust's obligations under the related
Notes and Indenture, each Trust will assign and pledge the related ING USA
Funding Agreement to the Indenture Trustee for the ratable benefit of each
Holder (as defined in the Indenture) pursuant to Section 4.01 of the Indenture;

            WHEREAS, the parties desire that each ING USA Funding Agreement be
held in the State of Colorado at all times prior to the occurrence and
continuance of an Event of Default (as defined in each such ING USA Funding
Agreement);

            WHEREAS, each Trust and the Indenture Trustee desire that the
Custodian be appointed as custodian for the Indenture Trustee, to hold in safe
custody for the benefit of the Indenture Trustee, on the terms and conditions
provided in this Custodial Agreement, each ING USA Funding Agreement issued to
such Trust in connection with the Notes issued by such Trust and pledged and
assigned by such Trust to the Indenture Trustee for the ratable benefit of each
Holder pursuant to Section 4.01 of the Indenture; and

            WHEREAS, the Custodian has the power and ability sufficient to
undertake and to discharge the duties accepted by it under this Custodial
Agreement;

                                       1
<PAGE>

            NOW, THEREFORE, in consideration of the foregoing premises and the
covenants contained herein, and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties hereto covenant and agree
as follows:

                                    ARTICLE 1
                                   DEFINITIONS

            SECTION 1.1. Incorporation of Definitions by Reference. All
capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to such terms in the Standard Indenture Terms filed as an exhibit to
the registration statement concerning the Program.

                                   ARTICLE 2
                            APPOINTMENT OF CUSTODIAN

            SECTION 2.1. Appointment of Custodian. In accordance with, and
pursuant to, the Indenture, the Indenture Trustee hereby appoints the Custodian
and the Custodian hereby acknowledges and agrees that it will act as custodian
for the benefit of the Indenture Trustee and the Holders with respect to each
ING USA Funding Agreement that is pledged and collaterally assigned to the
Indenture Trustee pursuant to the Indenture for the relevant series of Notes,
and that comes into the physical custody or possession of the Custodian under
this Custodial Agreement, until the earlier of (a) such time when the Indenture
Trustee notifies the Custodian in writing to the contrary, whereupon such
physical custody and possession of each ING USA Funding Agreement specified in
such notice will be transferred to the Indenture Trustee or another Person in
the manner directed by the Indenture Trustee and (b) the termination of this
Custodial Agreement. Acceptance by the Custodian of this appointment is
conclusively evidenced by its execution of this Custodial Agreement.

            SECTION 2.2. Custodian not subject to direction of Trustee. In no
event shall the Custodian, in such custodial role, be construed to be subject to
the direction of the Trustee, on behalf of any Trust, or deliver any such ING
USA Funding Agreement to the Trustee, on behalf of any Trust, without the
express written consent of the Indenture Trustee.

            SECTION 2.3. Custodian not Agent of Indenture Trustee. The Custodian
is an independent contractor in relation to, and not an agent of, the Indenture
Trustee, and shall have no authority to act for or represent the Indenture
Trustee except as expressly set forth herein.

                                   ARTICLE 3
                     DELIVERY OF ING USA FUNDING AGREEMENTS

            SECTION 3.1. Delivery of ING USA Funding Agreements. The Indenture
Trustee shall, for safekeeping, deposit each ING USA Funding Agreement with and
deliver each ING USA Funding Agreement into, or cause each ING USA Funding
Agreement to be deposited with and delivered into, the actual exclusive and
continuous possession and control of the Custodian as custodian of the Indenture
Trustee.

                                       2
<PAGE>

            SECTION 3.2. Limited Interest of Trusts. Each Trust shall retain and
reserve only such interests, claims or rights in the ING USA Funding Agreements
issued to such Trust as are set forth herein, in the Indenture and in the
letters or other such documents as are used to effect such Trust's pledge and
collateral assignment of the applicable ING USA Funding Agreement to the
Indenture Trustee and to record ING USA's acknowledgement thereof.

            SECTION 3.3. Security Interest of Indenture Trustee. Delivery of any
ING USA Funding Agreement to the Custodian shall, without any further act or
condition, constitute conclusive evidence against the relevant Trust to which it
was issued and all third parties of the Indenture Trustee's security interest
therein.

            SECTION 3.4. Indenture Trustee Covenant to Abide by Custodial
Agreement. The Indenture Trustee hereby covenants that, at all times prior to an
Event of Default and so long as it retains a security interest or other
ownership interest in a Funding Agreement, it will take no action to terminate
or to cause the termination of this Custodial Agreement, and it will abide by
the requirement herein that the physical custody and possession of each such
Funding Agreement be at the location provided in Section 10.5 hereof or at such
other location within the State of Colorado designated by the Custodian.

                                   ARTICLE 4
           INSPECTION OF ING USA FUNDING AGREEMENTS, BOOKS AND RECORDS

            SECTION 4.1. Inspection of ING USA Funding Agreements. So long as
any Notes are Outstanding, the Indenture Trustee and the Trustee on behalf of
each applicable Trust that issued such Notes, by or through their attorneys,
agents or employees, shall each be entitled, but shall be under no obligation,
at any mutually agreeable time, during normal business hours, at the expense of
such Trust, upon two Business Days' notice to the Custodian, to examine and
audit each ING USA Funding Agreement held by the Custodian.

            SECTION 4.2. Inspection of Books and Records. The Custodian shall
maintain appropriate books and records relating to services performed by it with
respect to each ING USA Funding Agreement and, so long as any Notes are
Outstanding, the Indenture Trustee and the Trustee on behalf of each applicable
Trust, by or through their attorneys, agents or employees, shall each be
entitled, but shall be under no obligation, at any mutually agreeable time,
during normal business hours, at the expense of such Trust, upon two Business
Days' notice to the Custodian, to examine such books and records.

                                    ARTICLE 5
                               DUTIES OF CUSTODIAN

            SECTION 5.1. General. The Custodian shall:

      (a)   on behalf of the Indenture Trustee, accept and hold each ING USA
            Funding Agreement in the State of Colorado at its address indicated
            in Section 10.5 hereof as custodian of the Indenture Trustee,
            subject to the provisions of

                                       3
<PAGE>

            this Custodial Agreement, the Indenture and each such ING USA
            Funding Agreement;

      (b)   have and maintain open, notorious, continuous, active and exclusive
            possession, dominion and control over each ING USA Funding Agreement
            delivered to it under this Custodial Agreement, subject only to the
            rights and interest of the Indenture Trustee and the Trust to which
            it was issued;

      (c)   from time to time, certify the receipt of each ING USA Funding
            Agreement as may be reasonably requested by the Indenture Trustee or
            the Trustee on behalf of each applicable Trust to which it was
            issued;

      (d)   from time to time upon request by (i) the Indenture Trustee or (ii)
            the Trust and the Indenture Trustee, submit such information and
            take such action as may be reasonably required by the Trustee on
            behalf of each applicable Trust or the Indenture Trustee to assure
            that each ING USA Funding Agreement is maintained in a proper and
            secure condition;

      (e)   upon receipt of any ING USA Funding Agreement, issue to the
            Indenture Trustee and the Trustee on behalf of the applicable Trust
            a certificate relating to the relevant ING USA Funding Agreement in
            substantially the form of Exhibit A attached hereto, which is made a
            part hereof;

      (f)   upon its receipt of written notice from the Indenture Trustee that
            an Event of Default has occurred with respect to any ING USA Funding
            Agreement and at the written direction of the Indenture Trustee,
            deliver each such ING USA Funding Agreement to the Indenture
            Trustee;

      (g)   at its own expense, maintain at all times during the term of this
            Custodial Agreement and keep in full force and effect (i) fidelity
            insurance, (ii) theft of documents insurance and (iii) forgery
            insurance; provided, that such insurance shall be in amounts, with
            standard coverage and subject to deductibles, as are customary for
            similar insurance typically maintained by financial institutions
            that act as custodians in similar transactions;

      (h)   unless otherwise specified herein, in providing services hereunder
            with respect to any ING USA Funding Agreement, follow the written
            instructions received from the Indenture Trustee;

      (i)   exercise the same reasonable care and diligence in the possession,
            retention and protection of each ING USA Funding Agreement delivered
            to it under this Custodial Agreement as it exercises or would
            exercise toward its own similar property;

      (j)   except as otherwise required by applicable law or by a governmental
            authority with regulatory jurisdiction over the Custodian, maintain
            the confidentiality of the information provided hereunder and in
            each ING USA Funding Agreement, and not disclose or in any way
            communicate such

                                       4
<PAGE>

            information to third parties without the express written consent of
            the Trustee, on behalf of the applicable Trust (provided, however,
            that notwithstanding anything herein to the contrary and except as
            reasonably necessary to comply with any applicable federal and state
            securities laws, the Custodian (and each employee, representative or
            other agent of the Custodian) may disclose to any and all persons,
            without limitation of any kind, the U.S. federal and state income
            tax treatment and tax structure of the transaction and all materials
            of any kind (including opinions or other tax analyses) that are
            provided to the Custodian relating to such U.S. federal and state
            income tax treatment and tax structure, where "tax structure" is any
            fact that may be relevant to understanding the U.S. federal or state
            income tax treatment of the transaction);

      (k)   request written direction from the Indenture Trustee and rely upon
            such written direction in the event that (i) any dispute shall arise
            between the parties with respect to the disposition of the ING USA
            Funding Agreements held hereunder or (ii) the Custodian shall be
            uncertain as to how to proceed in a situation not explicitly
            addressed by the terms of this Custodial Agreement whether because
            of conflicting demands by the other parties hereto or otherwise; and

      (l)   have only those duties as are specifically provided herein, which
            shall be deemed purely ministerial in nature, and shall under no
            circumstance be deemed a fiduciary for any of the parties to this
            Custodial Agreement; provided, that this Custodial Agreement sets
            forth all matters pertinent to the custodies contemplated hereunder,
            and no additional obligations of the Custodian shall be inferred
            from the terms of this Custodial Agreement or any other agreement.

            SECTION 5.2. Merger, Conversion or Consolidation of Custodian.
Notwithstanding anything herein to the contrary, any banking association or
corporation into which the Custodian may be merged, converted or with which the
Custodian may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Custodian shall be a party, or any
banking association or corporation to which all or substantially all of the
corporate trust business of the Custodian shall be transferred, shall succeed to
all the Custodian's rights, obligations and immunities hereunder without the
execution or filing of any paper or any further act on the part of any of the
parties hereto.

            SECTION 5.3. Compliance with Writs, Orders or Decrees. In the event
that any ING USA Funding Agreement shall be attached, garnished or levied upon
by any court order, or the delivery thereof shall be stayed or enjoined by an
order of a court, or any order, judgment or decree shall be made or entered by
any court order affecting the property deposited under this Custodial Agreement,
the Custodian is hereby expressly authorized, in its sole discretion, to obey
and comply with all writs, orders or decrees so entered or issued, which it is
advised by legal counsel of its own choosing is binding upon it, whether with or
without jurisdiction, and in the event the Custodian obeys or complies

                                       5
<PAGE>

with any such writ, order or decree it shall not be liable to any of the parties
hereto or to any other Person by reason of such compliance, notwithstanding such
writ, order or decree be subsequently reversed, modified, annulled, set aside or
vacated.

            SECTION 5.4. Delegation of Duties. The Custodian shall not employ
any third party institution to carry out any of the services to be provided
hereunder without the express written consent of the Indenture Trustee and the
Trustee, which consent shall not be unreasonably withheld.

            SECTION 5.5. No Constructive Knowledge. The Custodian shall not be
deemed to have knowledge of the occurrence of an Event of Default unless the
Custodian receives written notice of such Event of Default from the Indenture
Trustee or the Trustee on behalf of the applicable Trust.

            SECTION 5.6. Reliance. In performance of its duties under this
Custodial Agreement, the Custodian shall be permitted to rely on any
certificate, instrument, document or communication believed by it to be genuine,
correct and signed by the proper Person or Persons. The Trustee on behalf of the
applicable Trust and the Indenture Trustee shall each execute and deliver to the
Custodian a certificate of incumbency for the purpose of establishing the
identity of the representatives of the Trustee on behalf of the relevant Trust
and the Indenture Trustee entitled to issue instructions or directions to the
Custodian on behalf of each such party. In the event of any change in the
identity of such representatives, a new certificate of incumbency shall be
executed and delivered to the Custodian by the appropriate party. Until such
time as the Custodian shall receive a new incumbency certificate, the Custodian
shall be fully protected in relying without inquiry on any then current
incumbency certificate on file with the Custodian.

            SECTION 5.7. Release of ING USA Funding Agreements. Except as
consented to by the Indenture Trustee or as otherwise provided in the Indenture
and this Custodial Agreement, the Custodian shall not release any ING USA
Funding Agreement from its possession without receiving a prior written request
duly executed on behalf of the Indenture Trustee.

            SECTION 5.8. Limitations of Custodian Responsibility.

      (a)   The Custodian assumes no responsibility under this Custodial
            Agreement other than to render the services contemplated hereunder.

      (b)   The Custodian assumes no responsibility for the effectiveness,
            genuineness, validity or enforceability of any ING USA Funding
            Agreement in its custody or for making any inquiry into any such ING
            USA Funding Agreement.

      (c)   The Custodian shall not be liable or deemed to be in default for any
            failure or delay in performance of any duty in whole or in part
            arising out of or caused by any of the following: major external
            flood; earthquake; "act of God"; failure of public utility; act of
            war; act of terrorism; or rebellion or revolution in the United
            States.

                                       6
<PAGE>

      (d)   The Custodian shall not be personally liable for any error in
            judgment made in good faith by an officer or employee of the
            Custodian.

      (e)   No provision of this Custodial Agreement shall require the Custodian
            to expend or risk its personal funds or otherwise incur any
            financial liability in the performance of its rights or duties
            hereunder, if the Custodian shall have reasonable grounds for
            believing that repayment of such funds or adequate indemnity against
            such risk or liability is not reasonably assured or provided to it.

      (f)   Under no circumstances shall the Custodian be liable for any
            representation, warranty, covenant or indebtedness of a Trust or the
            Indenture Trustee.

      (g)   In no event shall the Custodian be liable for (i) acting in
            accordance with instructions given pursuant to this Custodial
            Agreement from the Indenture Trustee or, if permitted under this
            Custodial Agreement, a Trust, (ii) special or consequential damages
            or (iii) the acts or omissions of the Custodian's nominees,
            correspondents, designees, agents, subagents or sub-custodians
            appointed by it without negligence and in good faith.

      (h)   In the event that the Custodian is unsure of the course of action to
            be taken by it hereunder, the Custodian may request instructions
            from the Indenture Trustee or, if permitted under this Custodial
            Agreement, the relevant Trust, and to the extent the Custodian
            follows such instructions in good faith it shall not be liable to
            any Person. In the event that no instructions are provided within
            the time reasonably requested by the Custodian, it shall have no
            duty or liability for its failure to take action or for any action
            it takes in good faith.

      (i)   As to any fact or matter the manner of ascertainment of which is not
            specifically prescribed herein, the Custodian may for all purposes
            hereof rely on a certificate, signed by a duly authorized officer or
            representative of the Indenture Trustee or the relevant Trust as to
            such fact or matter, and such certificate shall constitute full
            protection to the Custodian for any action taken or omitted to be
            taken by it in good faith in reasonable reliance thereon.

            SECTION 5.9. Other Activities of the Custodian.

      (a)   Nothing herein shall prevent the Custodian or any of its Affiliates
            from engaging in other businesses, or from rendering services of any
            kind to any Trust and its Affiliates, the Indenture Trustee or any
            other Person or entity to the extent permitted by applicable law.

      (b)   It is understood that the Custodian and any of its Affiliates may
            engage in any other business and furnish custodial services to
            others.

                                       7
<PAGE>

      (c)   The Custodian will be free, in its sole discretion, to effect
            transactions on behalf of itself or for others, which may be the
            same as or different from those effected under this Custodial
            Agreement.

      (d)   The Custodian shall have the right, but not the obligation to
            consult with counsel of choice and shall not be liable for action
            taken or omitted to be taken by the Custodian either in accordance
            with the advice of such counsel or in accordance with any opinion of
            counsel to any Trust addressed and delivered to the Custodian. Any
            expenses of such counsel shall be paid by ING USA in accordance with
            the Expense and Indemnity Agreement (defined below) to the extent
            provided therein or in accordance with Section 7.10 of the Indenture
            to the extent provided therein.

                                    ARTICLE 6
                              FEES AND COMPENSATION

SECTION 6.1. Compensation, Expenses and Indemnification. The Custodian shall be
entitled to compensation, expenses and indemnification as set forth in that
certain Expense and Indemnity Agreement (the "EXPENSE AND INDEMNITY AGREEMENT")
dated as of - entered into between the Custodian and ING USA.

                                   ARTICLE 7
             REPRESENTATIONS, WARRANTIES AND COVENANTS OF CUSTODIAN

            SECTION 7.1. Representations and Warranties of Custodian. The
Custodian hereby represents and warrants to the Indenture Trustee and the
Trustee for the benefit of each of the Trusts that:

      (a)   it is a national banking association duly organized and validly
            existing under the laws of the United States and has full power and
            authority to own its assets and to transact the business in which it
            is currently engaged and is duly qualified and in good standing
            under the laws of each jurisdiction where its ownership or lease of
            property or the conduct of its business requires, or the performance
            of this Custodial Agreement would require, such qualification;

      (b)   it, and each Person acting on its behalf, has full power and
            authority to execute and deliver this Custodial Agreement and to
            perform all of its obligations under this Custodial Agreement;

      (c)   this Custodial Agreement, and each instrument and document required
            hereunder that was executed and delivered by, or on behalf of, the
            Custodian, has been executed and delivered by a duly authorized
            officer of the Custodian; and

      (d)   this Custodial Agreement constitutes a valid and legally binding
            obligation of the Custodian enforceable against the Custodian in
            accordance with its terms, except as enforcement may be limited by
            general principles of equity

                                       8
<PAGE>

            and bankruptcy, insolvency or other similar laws affecting the
            enforcement of creditors' rights generally.

            SECTION 7.2. Covenants of Custodian. The Custodian hereby covenants
to the Indenture Trustee and the Trustee for the benefit of each of the Trusts
that:

      (a)   at all times it will maintain physical custody and possession of
            each ING USA Funding Agreement deposited with it pursuant to the
            terms of this Custodial Agreement within the State of Colorado at
            the location specified in Section 10.5 hereof or at such other
            location within the State of Colorado designated by the Custodian,
            subject to the provisions of this Custodial Agreement, the Indenture
            and each such ING USA Funding Agreement;

      (b)   each instrument and document required to be executed or delivered
            by, or on behalf of, the Custodian shall be executed and delivered
            by a duly authorized officer of the Custodian;

      (c)   prior to any affiliation with any of the Trusts in the future that
            is not contemplated by this Custodial Agreement or any Trust
            Agreement, it shall notify the Indenture Trustee of any such
            contemplated affiliation; and

      (d)   it shall not institute, or join any other Person in instituting,
            against any of the Trusts any bankruptcy, reorganization,
            arrangement, insolvency, moratorium or liquidation proceedings or
            other proceedings under federal or state bankruptcy or similar laws
            until at least one year and one day (or, if longer, the applicable
            preference period then in effect) after the payment in full of all
            Notes issued by any Trust in connection with the Program.

                                    ARTICLE 8
                                   TERMINATION

            SECTION 8.1. General. This Custodial Agreement and the duties and
responsibilities of the Custodian hereunder shall remain in effect until the
occurrence of one or more of the following events:

      (a)   delivery to the Custodian by the Indenture Trustee of a written
            certification signed by the Indenture Trustee that the Trusts have
            paid and discharged of all obligations to the Indenture Trustee with
            respect to each of the Notes issued by each Trust and that the
            Program has been terminated;

      (b)   termination of the Indenture and delivery by the Custodian of each
            ING USA Funding Agreement in its possession hereunder to the
            Indenture Trustee or as the Indenture Trustee shall direct in
            writing and certification by the Indenture Trustee that the Program
            has been terminated; or

      (c)   termination of this Custodial Agreement pursuant to Section 8.2, 8.3
            or 8.4 hereof.

                                       9
<PAGE>

            SECTION 8.2. Termination by Custodian. This Custodial Agreement may
be terminated by the Custodian, at any time, and the Custodian may resign, upon
30 days' prior notice to the Trustee on behalf of each Trust and the Indenture
Trustee; provided, however, that no termination or resignation pursuant to this
Section 8.2 shall be effective until the date as of which a successor Custodian
shall be appointed in accordance with Section 8.6 hereof and shall have agreed
in writing to assume all of the Custodian's duties and obligations under this
Custodial Agreement.

            SECTION 8.3. Termination by Indenture Trustee Without Cause. This
Custodial Agreement may be terminated at any time by the Indenture Trustee,
without cause, and the Indenture Trustee may remove the Custodian, upon 30 days'
prior notice to the Custodian and each Trust (or such shorter notice as is
acceptable to the Custodian and each Trust); provided, however, that no
termination or removal pursuant to this Section 8.3 shall be effective until the
date as of which a successor Custodian shall be appointed in accordance with
Section 8.6 hereof and shall have agreed in writing to assume all of the
Custodian's duties and obligations under this Custodial Agreement.

            SECTION 8.4. Termination by Indenture Trustee for Cause. This
Custodial Agreement may be terminated, and the Custodian may be removed, by the
Indenture Trustee for cause, upon 10 days' prior notice to the Custodian;
provided, however, that no termination or removal pursuant to this Section 8.4
shall be effective until the date as of which a successor Custodian shall be
appointed in accordance with Section 8.6 hereof and shall have agreed in writing
to assume all of the Custodian's duties and obligations under this Custodial
Agreement. For purposes of determining "cause" with respect to any such
termination of this Custodial Agreement, such term shall mean any one of the
following events:

      (a)   the Custodian willfully violates, or takes any action that it knows
            breaches, any provision of this Custodial Agreement;

      (b)   the Custodian breaches in any respect any provision of this
            Custodial Agreement (other than as specified in paragraph (a) of
            this Section 8.4) and fails to cure such breach within 30 days of
            its becoming aware, or its receiving notice from any of the Trusts
            or the Indenture Trustee, of such breach;

      (c)   the Custodian is wound up or dissolved or there is appointed over
            it, or a substantial portion of its assets, a receiver,
            administrator, administrative receiver, trustee or similar officer;

      (d)   the Custodian: (i) ceases to be able to, or admits in writing its
            inability to, pay its debts as they become due and payable, or makes
            a general assignment for the benefit of, or enters into any
            composition or arrangement with, its creditors generally; (ii)
            applies for or consents to the appointment of a receiver, trustee,
            assignee, custodian, liquidator or sequestrator (or other similar
            official) of the Custodian or of any substantial part of its
            properties or assets, or authorizes such an application or consent,
            or

                                       10
<PAGE>

            proceedings seeking such appointment are commenced without such
            authorization, consent or application against the Custodian and
            continue undismissed for 60 days; (iii) authorizes or files a
            voluntary petition in bankruptcy, or applies for or consents to the
            application of any bankruptcy, reorganization, arrangement,
            readjustment of debt, insolvency or dissolution, or authorizes such
            application or consent, or proceedings to such end are instituted
            against the Custodian without such authorization, application or
            consent and are approved as properly instituted and remain
            undismissed for 60 days or result in adjudication of bankruptcy or
            insolvency; (iv) permits or suffers all or any substantial part of
            its properties or assets to be sequestered or attached by court
            order and such order remains undismissed for 60 days; or (v) engages
            in any activity analogous to the activities set forth in clauses (i)
            through (iv) of this Section 8.4(d) in any applicable jurisdiction;
            or

      (e)   the occurrence of an act by the Custodian that constitutes fraud or
            criminal activity in the performance of its obligations under this
            Custodial Agreement, or the Custodian being indicted or convicted
            for a criminal offense materially related to its primary businesses.

            SECTION 8.5. Liabilities After Termination. If this Custodial
Agreement is terminated as provided herein, none of the parties hereto shall
have any further liability or obligation to the other parties hereto, except as
provided in Sections 5.1(j), 8.6, 8.7 and 8.8 of this Custodial Agreement.

            SECTION 8.6. Appointment of Successor Custodian. Any removal or
resignation of the Custodian while any Notes are Outstanding will be effective
only upon the appointment (and the acceptance in writing by such successor
Custodian) of a successor Custodian by the Indenture Trustee that is an
established institution in the State of Colorado which (a) has demonstrated an
ability to professionally and competently perform duties similar to those
imposed upon the Custodian hereunder and (b) is legally qualified and has the
capacity to act as Custodian hereunder in the assumption of all of the
responsibilities, duties and obligations of the Custodian hereunder; provided,
however, that if no successor Custodian shall have been appointed and have
accepted appointment within ninety (90) days of the giving of any notice of
resignation by the Custodian, the Custodian may petition any court of competent
jurisdiction for the appointment of a successor Custodian. The Trustee, on
behalf of each Trust, the Indenture Trustee, the Custodian and the successor
Custodian shall take such action (or cause the removed or resigning Custodian to
take such action) consistent with this Custodial Agreement as shall be necessary
to effectuate any such succession.

            SECTION 8.7. Rights and Remedies of Indenture Trustee Regarding
Termination. In the event of removal of the Custodian pursuant to this Custodial
Agreement by the Indenture Trustee, the Indenture Trustee shall have all of the
rights and remedies available with respect thereto at law or equity, and,
without limiting the foregoing, the Indenture Trustee may by notice in writing
to the Custodian as provided under this Custodial Agreement terminate all the
rights and obligations of the Custodian

                                       11
<PAGE>

under this Custodial Agreement (except those that survive termination pursuant
to Section 8.5 above). Upon the expiration of any applicable notice period with
respect to termination of this Custodial Agreement, all authority and power of
the Custodian under this Custodial Agreement, whether with respect to each ING
USA Funding Agreement or otherwise, shall automatically and without further
action by any Person pass to and be vested in the successor Custodian upon the
appointment thereof and the agreement of such successor Custodian to assume the
Custodian's duties and obligations under this Custodial Agreement.

            SECTION 8.8. Actions Upon Termination.

      (a)   Upon the effective date of termination of this Custodial Agreement,
            the Custodian shall, as soon as practicable:

            (i)   deliver to the Indenture Trustee, the successor Custodian or
                  to such other Person as the Indenture Trustee directs in
                  writing all ING USA Funding Agreements and documents relating
                  thereto then in the custody of the Custodian; and

            (ii)  deliver to the Indenture Trustee or successor Custodian an
                  accounting with respect to all books and records it has
                  maintained relating to each ING USA Funding Agreement that was
                  delivered to the Custodian.

      (b)   Notwithstanding any such termination, the Custodian shall remain
            liable to the extent set forth herein (but subject to Section 8.6
            hereof) for its acts or omissions hereunder arising prior to
            termination and for any expenses, losses, claims, damages,
            judgments, assessments, costs or other liabilities (including
            reasonable attorneys' fees) in respect of or arising out of a
            material breach of the representations, warranties or covenants made
            by the Custodian under this Custodial Agreement or from any failure
            of the Custodian to comply with the provisions of this Section 8.8.

      (c)   The Custodian agrees that, notwithstanding any termination, it shall
            reasonably cooperate in any proceeding arising in connection with
            this Custodial Agreement, the Indenture or any ING USA Funding
            Agreement upon receipt of appropriate indemnification and expense
            reimbursement.

                                   ARTICLE 9
                         LIMITATION OF TRUSTEE LIABILITY

            SECTION 9.1. Trustee Liability. Notwithstanding any provision hereof
to the contrary, it is expressly understood and agreed by the parties hereto
that (a) this Custodial Agreement is executed and delivered on behalf of the
Trusts by U.S. Bank National Association not individually or personally, but
solely as Trustee, in the exercise of the powers and authority conferred and
vested in it, pursuant to the Trust Agreement, (b) each of the representations,
undertakings and agreements herein made on the part of the

                                       12
<PAGE>

Trust is made and intended not as personal representations, undertakings and
agreements by U.S. Bank National Association but is made and intended for the
purpose for binding only the Trusts, (c) nothing herein contained shall be
construed as creating any liability on U.S. Bank National Association,
individually or personally, to perform any covenant either expressed or implied
contained herein, all such liability, if any, being expressly waived by the
parties hereto and by any Person claiming by, through or under the parties
hereto, and (d) under no circumstances shall U.S. Bank National Association be
personally liable for the payment of any indebtedness or expenses of any of the
Trusts or be liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by any of the Trusts under this
Custodial Agreement or any other related documents; provided, however, that such
waivers shall not affect the liability of U.S. Bank National Association (or any
entity acting as successor or additional trustee) to any Person under any other
agreement to the extent expressly agreed to in its individual capacity
thereunder.

                                   ARTICLE 10
                               GENERAL PROVISIONS

            SECTION 10.1. Binding Effect; Successors, Transferees and Assigns.
This Custodial Agreement shall be binding upon the parties hereto, their
respective successors, transferees and assigns, and shall inure to the benefit
of and be enforceable by all parties hereto and their respective successors,
transferees and permissible assigns.

            SECTION 10.2. Amendments. This Custodial Agreement may not be
amended without the express written consent of the Custodian, the Indenture
Trustee and the Trustee acting on behalf of each Trust.

            SECTION 10.3. Assignment of ING USA Funding Agreements. No
assignment or purported assignment by collateral assignment, grant of security
interest or similar action by, or on behalf of, any Trust of any ING USA Funding
Agreement shall be recognized by the Custodian or be effective unless approved
in writing by the Indenture Trustee.

            SECTION 10.4. Notices. All notices, requests and other
communications under this Custodial Agreement shall be in writing (including
bank wire, facsimile or similar writing) and shall be given to the relevant
Person at its address or facsimile number set forth below or such other address
or facsimile number as such Person may hereafter specify for such purpose by not
less than 10 Business Days' prior notice to each other Person specified in this
Section 10.4. Each such notice, request or other communication shall be
effective (a) if given by facsimile, when such facsimile is transmitted to the
facsimile number specified pursuant to this Section 10.4, (b) if given by mail,
48 hours after such communication is deposited in the mails with first class
postage prepaid, or (c) if given by any other means, when delivered or received
at the address specified in this Section 10.4.

            Such notices, requests and other communications shall be addressed,
if to any of the Trusts, to:

                                       13
<PAGE>

            ING USA GLOBAL FUNDING TRUST [-]
            c/o U.S. Bank National Association, as Trustee
            Corporate Trust Services
            209 S. LaSalle Street, Suite 300
            Chicago, Illinois 60604
            Attention: Patricia Child, VP
            Facsimile: (312) 325-8905

            if to the Indenture Trustee, to:

            Citibank, N.A.
            Agency & Trust
            388 Greenwich Street, 14th Floor
            New York, New York 10013
            Attention: Nancy Forte
            Facsimile: (212) 816-5527

            if to the Trustee, to:

            U.S. Bank National Association
            Corporate Trust Services
            209 S. LaSalle Street, Suite 300
            Chicago, Illinois 60604
            Attention: Patricia Child, VP
            Facsimile: (312) 325-8905

            SECTION 10.5. Address of Custodian. The Custodian shall hold each
ING USA Funding Agreement at the following address:

            U.S. Bank National Association
            918 17th Street
            Denver, Colorado 80202
            Attention: Corporate Trust Services
            Telephone: (303) 585-4591
            Facsimile: (303) 585-6865

            SECTION 10.6. Waiver of Certain Rights.

      (a)   The Custodian hereby waives, relinquishes and releases any rights
            which it may have by way of contract or law, whether through
            exercise of a right of set-off, security interest, counterclaim or
            otherwise, to obtain any property or payment from, under or with
            respect to any ING USA Funding Agreement delivered to it hereunder.

      (b)   With respect to each of the Trusts, the Indenture Trustee, in acting
            under or by virtue of this Custodial Agreement, shall be entitled to
            all the rights,

                                       14
<PAGE>

            authority, privileges and immunities it receives from the relevant
            Trust under the Indenture and such Trust hereby waives any of its
            rights hereunder that may contravene such rights, authority,
            privileges and immunities of the Indenture Trustee thereunder.

            SECTION 10.7. Provisions Separable. Any provision of this Custodial
Agreement which is prohibited, unenforceable or not authorized in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition, unenforceability or non-authorization without invalidating the
remaining provisions hereof or affecting the validity or enforceability or
legality of such provision in any other jurisdiction.

            SECTION 10.8. Governing Law. This Custodial Agreement shall be
governed by and construed in accordance with the laws of the State of New York,
without regard to its choice of law principles.

            SECTION 10.9. Waiver of Jury Trial. Each of the parties to this
Custodial Agreement hereby irrevocably waives any and all right to a trial by
jury with respect to any legal proceeding arising out of or relating to this or
any related transaction.

            SECTION 10.10. Headings Not to Affect Interpretation. The headings
contained in this Custodial Agreement are for convenience only, and they neither
form a part of this Custodial Agreement nor are they to be used in the
construction or interpretation hereof.

            SECTION 10.11. Counterparts. This Custodial Agreement may be
executed and delivered in any number of counterparts, each of which, when so
executed and delivered, shall be an original; provided, however, that such
counterparts shall together constitute but one and the same instrument.

            SECTION 10.12. Acknowledgment of Multiple Roles. The parties
expressly acknowledge and consent to U.S. Bank National Association acting in
the capacity of Trustee of each Trust and in the capacity of Custodian with
respect to each Funding Agreement that is pledged and assigned by each Trust to
the Indenture Trustee. U.S. Bank National Association may, in such dual
capacities, discharge its separate functions fully, without hindrance or regard
to conflict of interest principles, duty of loyalty principles or other breach
of fiduciary duties to the extent that any such conflict or breach arises from
the performance by U.S. Bank National Association of any of its respective
duties in its capacities as Custodian and/or Trustee. The parties hereto waive
all defenses, claims or assertions against U.S. Bank National Association which
are based on the foregoing.

                                       15
<PAGE>

            IN WITNESS WHEREOF, the parties have caused this Custodial Agreement
to be duly executed by their respective authorized officers, as of the day and
the year first above written.

                                              U.S. BANK NATIONAL
                                              ASSOCIATION, as Custodian

                                              By:______________________________
                                                 Name:
                                                 Title:

                                              CITIBANK, N.A., not in its
                                              individual capacity but solely as
                                              Indenture Trustee for the benefit
                                              of the holders of the Notes issued
                                              in connection with the Program

                                              By:______________________________
                                                 Name:
                                                 Title:

                                              U.S. BANK NATIONAL
                                              ASSOCIATION, not in its individual
                                              capacity, but solely as Trustee,
                                              on behalf of each Trust organized
                                              in connection with the Program

                                              By:_______________________________
                                                 Name:
                                                 Title:

                                       16
<PAGE>
                                                                       Exhibit A

             Certificate Regarding Custody of the Funding Agreement

In connection with the issuance of the Funding Agreement and the Assignment of
Funding Agreement (set forth in Part IV of the Closing Instrument (as defined in
the Omnibus Instrument)), the Custodian hereby represents that it has received
delivery of the Funding Agreement and is holding the Funding Agreement for the
benefit of the Indenture Trustee subject to the terms and conditions of the
Custodial Agreement dated as of [-] among the Custodian, the Trustee and the
Indenture Trustee and that the Funding Agreement is in the possession of the
Custodian at the address below:

U.S. Bank National Association
918 17th Street
Denver, CO 80202

                                       U.S. Bank National Association, as
                                       Custodian

                                       By:__________________________________
                                          Name:
                                          Title:

                                       A-1

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