Select Benefit Annuity offers financial representatives and their clients the flexibility to plan for a wide variety of retirement goals
TOPEKA, Kan., Dec. 19, 2016 (GLOBE NEWSWIRE) -- Security Benefit Life Insurance Company (Security Benefit) today announced the launch of its new Select Benefit Annuity, a fixed index annuity (FIA) which offers contract-holders the unique ability to accelerate the amount of income taken in the first 10 years, a time when many recently retired Americans are active spenders on a number of endeavors, including hobbies, travel and grandchildren.
The newest single premium fixed index annuity from one of the industry’s leaders features a new, optional Accelerated Income Rider that offers clients the ability to secure higher annual income for the first 10 years after starting income without jeopardizing clients’ long-term financial security. Even after the annual income amount is reduced by half beyond the first 10 years, the Accelerated Income Rider affords clients the peace of mind that they have a guaranteed stream of income for the rest of their lives.
“The Select Benefit Annuity is further evidence of our commitment to provide financial representatives and their clients with innovative retirement products by using our industry-leading expertise in the fixed index annuity space to help address the need for additional funds in clients’ early retirement years,” said Mike Kiley, CEO of Security Benefit.
Select Benefit Annuity also offers additional flexibility with the optional Legacy Preservation Rider, which is designed for clients with the desire to be able to transfer wealth to loved ones.
“We set out to design a forward-looking product that acknowledges the frequent need clients have for more income during their initial retirement years without losing the ability to help legacy-oriented clients reach their long-term legacy planning goals,” said Doug Wolff, President of Security Benefit. “The Select Benefit Annuity offers two mutually-exclusive riders with bonuses that allow financial representatives to help clients select what is most important to them, accumulation, or helping them achieve their income- or legacy-based goals.”
Financial representatives and their clients have the option to allocate the purchase payments among seven available interest crediting options, including two custom indexes through two of the leading names in financial services, S&P and UBS: the S&P 500 ® Low Volatility Daily Risk Control 5% Total Return Index Account (1 year and 2 year options) and the UBS Market Pioneers Index Account (1 year and 2 year options).
The new product features nursing home and terminal illness waivers, and a free withdrawal — beginning in the first contract year — of up to 5 percent of the purchase payment (for the first year) or the prior year’s contact anniversary account value beginning in the second year.
Offered through Security Benefit’s exclusive distribution group of select IMOs, financial representatives can visit www.sbelitepartners.com to learn more about the Select Benefit Annuity and how it can be used to help clients maximize the most active period of their retirements.
About Security Benefit Security Benefit Life Insurance Company, a 124-year-old, Kansas-based insurance company with more than $30 billion in assets under management, is a leading retirement savings and income solutions provider. Through a combination of innovative products, exceptional investment management and a unique distribution strategy, Security Benefit is a leader in a full range of retirement markets and wealth segments. To learn more about Security Benefit, visit www.securitybenefit.com .
The Security Benefit Select Benefit Annuity, form 5900 (11-16) and ICC16 5900 (11-16), a fixed index single premium deferred annuity contract, the Accelerated Income Rider, form 5920 (11-16) and ICC16 5920 (11-16), and the Legacy Preservation Rider, form 5921 (11-16) and ICC16 5921 (11-16), optional riders for which a charge applies, are issued by Security Benefit Life Insurance Company. Product features, limitations and availability may vary by state.
Guarantees provided by annuities are subject to the financial strength of the issuing insurance company. Annuities are not FDIC or NCUA/NCUSIF insured; are not obligations or deposits of, and are not guaranteed or underwritten by any bank, savings and loan or credit union or its affiliates; are unrelated to and not a condition of the provision or term of any banking service or activity.
Fixed indexed annuities are not stock market investments and do not directly participate in any equity, bond, other security or commodities investments. Indices do not include dividends paid on the underlying stocks, and therefore do not reflect the total return of the underlying stocks; neither an index nor any fixed index annuity is comparable to a direct investment in the equity, bond, other security or commodities markets.
"Standard & Poor's ® ", "S&P ® ", "S&P 500 ® ", and "Standard & Poor's 500TM ® " are trademarks of Standard & Poor's and have been licensed for use by SBL. This product is not sponsored, endorsed, sold, or promoted by Standard & Poor's, and Standard & Poor's makes no representation regarding the advisability of purchasing these products.
The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by SBL. Standard & Poor's ® , S&P ® and S&P 500 ® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones ® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by SBL. SBL's Select Benefit Annuity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.
The UBS Market Pioneers Index (the "Index") has been licensed to SBL. The Index is a composite index developed by UBS AG ("UBS") based in part on the NYSE ® Zebra Edge TM U.S. Equity Index, which is used under license from NYSE Group, Inc. ("NYSE"), and the Jim Rogers Global Consumer Commodities Index TM , which is used under license from Gladys Holdings, LLC ("Gladys"). Neither SBL nor Select Benefit Annuity (the "Product") is sponsored, operated, endorsed, recommended, sold or promoted by Zebra Capital Management, LLC ("Zebra"), NYSE, UBS, Gladys or Solactive AG, the calculation agent for the Index ("Solactive"), or their respective affiliates. In no event shall Zebra, NYSE, UBS, Gladys or Solactive, or any of their affiliates, have any liability with respect to the Index or the Product. None of Zebra, NYSE, UBS, Gladys or Solactive makes any representation or gives any warranty, express or implied, regarding the advisability or possible benefits of purchasing the Product or any other financial product or otherwise. The mark UBS is a registered trademark of UBS. The mark NYSE ® is a registered trademark of NYSE, Intercontinental Exchange, Inc., or their affiliates. The marks Zebra ® and Zebra Edge TM are trademarks of Zebra. The names Jim Rogers, James Beeland Rogers, Jr., Rogers, and Jim Rogers Global Consumer Commodities Index are trademarks, service marks and/or registered trademarks owned by Gladys or its affiliate Beeland Interests, Inc.
Media Contacts: Sean Logue, Communications Strategy Group (201) 956-1051 slogue@wearecsg.com Chad Liby, Security Benefit (785) 438-3345 Chad.Liby@securitybenefit.com
