Topeka, Kan. – October 28, 2019 – Security Benefit Life Insurance Company (Security Benefit) today announced the launch of its new Strategic Growth Series Annuities, two new fixed index annuities (FIA) which offer contract-holders the ability to safely accumulate and grow retirement assets without the risk of market losses.
These modified single premium deferred fixed index annuities from one of the industry’s leaders provide the opportunity to select between the Strategic Growth Annuity which features accumulation-oriented caps, participation rates and spreads without a bonus, and the Strategic Growth Plus Annuity, which features a six percent premium bonus with competitive caps, participation rates and spreads. Both annuities also feature new 1-year and 2-year Index Accounts based on the Morningstar Wide Moat Focus Barclays VC 7% Index.
“The Strategic Growth Series Annuities are further evidence of our commitment to provide financial representatives and their clients with exceptional retirement products by using our industry-leading expertise in the fixed index annuity space to help address the need for the safe accumulation and growth of retirement assets,” said Mike Kiley, CEO of Security Benefit.
“We set out to design an annuity series that provides financial representatives and their clients the ability to choose the accumulation options that best meet their short- and long-term retirement needs,” said Doug Wolff, President of Security Benefit Life Insurance Company. “The Strategic Growth Series Annuities offer a host of features and benefits that allow financial representatives to help clients select what is most important to them in their goal of accumulating and growing their retirement savings assets.”
Financial representatives and their clients have the option to allocate the purchase payments among nine available interest crediting options, including three custom indexes through some of the leading names in financial services, S&P, Morningstar, Barclays, and UBS: the S&P 500® Low Volatility Daily Risk Control 5% Index Accounts (1 year and 2 year options), the UBS Market Pioneers Index Accounts (1 year and 2 year options), and the new Morningstar Wide Moat Focus Barclay’s VC 7% Index Accounts (1 year and 2 year options).
The new products both feature nursing home and terminal illness waivers in most states, and a free withdrawal of up to 10 percent of the prior year’s contact anniversary account value, beginning in the second contract year.
Offered through Security Benefit’s exclusive distribution group of select IMOs, financial representatives can visit www.sbelitepartners.com to learn more about the Strategic Growth Series Annuities and how one or both can be used to help clients maximize the ability to accumulate and grow retirement assets.
About Security Benefit
Security Benefit Corporation (“Security Benefit”), through its subsidiary Security Benefit Life Insurance Company, a Kansas-based insurance company that has been in business for more than 127 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and held $39.6 billion in assets under management as of June 30, 2019. Security Benefit is one of the fastest growing U.S. retirement companies and continues its mission of helping Americans To and Through Retirement®.