Innovative Financial Product Unveiled: Max Elite Annuities
Introducing Max Elite Annuities
North American Company for Life and Health Insurance, known for its strength as an A+ rated carrier, is expanding its offerings to financial advisors through an exciting new product series called Max Elite Annuities. In collaboration with AMS Financial Services Group, a respected name in financial solutions, this series aims to add simplicity and growth potential to the annuity marketplace.
Collaborative Efforts in Financial Innovation
Michael Maranto, CEO and President of AMS Financial Solutions Group, expressed the enthusiasm shared between the two companies: “We are delighted to have worked with North American in creating an innovative annuity product tailored for bank and broker-dealer financial advisors.” This product capitalizes on North American's financial strength and streamlined processes, providing financial advisors and their clients with an exceptional array of benefits.
Max Elite Annuities Features
The Max Elite Accumulation FIA series, which is now available, offers flexible surrender charge options—five, seven, and ten years—providing easy access tailored to different client needs. One highlight of this series is a novel crediting methodology known as the Annual Point-to-Point with Index Cap and Declared Rate. This innovative approach ensures that clients can participate in market growth while benefiting from guaranteed premium protection against losses.
Key Benefits of Max Elite
Max Elite Accumulation aims to enhance the investment experience with its exclusive features:
- Growth potential: Clients can enjoy increases based on the performance of multiple index strategies, including those from financial industry leader S&P.
- Tax deferral: Clients won't incur income tax on interest until funds are accessed, allowing for strategic growth.
- Premium protection: Clients are safeguarded against market downturns that could lead to loss of premium.
Optional Enhanced Benefit Rider
To further equip clients, the Max Elite Accumulation offers an optional Enhanced Benefit Rider (EBR). This rider provides:
- Guaranteed growth: Annuity owners can secure minimum interest credits.
- Return of premium feature: Offers liquidity for unforeseen events, giving clients peace of mind.
Client-Centric Approach
This newly developed annuity aims to address the needs of a diverse clientele. Rob TeKolste, president of Sammons Independent Annuity Group, commented on the market potential: “With consumers looking for guaranteed income options, the U.S. annuity market is booming. We are excited to deliver a product that meets these rising demands, enabling clients to enhance their financial reserves.”
The Importance of Simplicity
In the fast-paced world of finance, simplicity remains a core principle. The Max Elite Accumulation series is designed to be straightforward, ensuring that financial advisors can easily explain product benefits to their clients. This approach not only builds trust but also fosters meaningful relationships between advisors and their clients, ultimately supporting better financial decisions.
About the Companies
North American Company for Life and Health Insurance, a member of Sammons Financial Group, is known for its extensive range of life and indexed universal life insurance products, alongside traditional fixed and fixed index annuities. Employee-owned and A+ rated, North American continues to be a stable choice for clients seeking comprehensive coverage.
AMS Financial Solutions Group, founded in 1991, operates out of Baton Rouge, LA, and has a commendable history serving financial professionals across various channels nationwide. Their focus on custom distribution and high-quality service allows them to efficiently meet the needs of financial advisors and their clients.
Frequently Asked Questions
What are Max Elite Annuities?
Max Elite Annuities are innovative financial products developed by North American Company and AMS Financial Services Group designed to offer growth potential and premium protection.
What makes the Max Elite Accumulation series unique?
The Max Elite Accumulation series features a first-to-market crediting method known as the Annual Point-to-Point with Index Cap and Declared Rate, ensuring clients benefit from growth while being protected from market downturns.
Who can benefit from these annuities?
Financial advisors serving bank and broker-dealer clients can leverage Max Elite Annuities to provide unique solutions tailored to the needs of their clients.
How can clients access the benefits of the Enhanced Benefit Rider?
Clients must select the optional Enhanced Benefit Rider at the contract's issue to gain access to guaranteed growth and return of premium features.
Are there any age restrictions for investing in Max Elite Annuities?
Max Elite Annuities are designed primarily for clients seeking long-term financial solutions, and specific age restrictions may depend on the product type and specific circumstances.
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