Great American Life Launches New Fixed-Indexed Annuity and Guaranteed Income Rider for Fee-Based Advisors
Great American Life® is expanding its product offerings to include a fee-based fixed-indexed annuity and optional guaranteed income rider for advisors.
“We recognize the importance of creating efficiencies for our advisors. From providing daily data feeds, supporting consolidated statements and more, we are here to meet the needs of our valued field distribution.”
The Index ProtectorSM 7 fixed-indexed annuity marks Great American’s entry into the investment advisory channel. As one of the first fixed-indexed annuities to hit this emerging market, the Index Protector 7 is designed for Investment Advisor Representatives who offer fee-based services.
The Index Protector 7 responds to new Department of Labor regulations and offers competitive earning potential, tax-deferred growth and a return of premium guarantee. In addition, consumers can add the low-cost Income KeeperSM rider, which provides lifetime income payments that could increase each year.
According to Joe Maringer, National Sales Vice President, Great American Life, the Index Protector 7 is an opportunity for consumers to further diversify their portfolios.
“A product that fits into an advisory model based on fees rather than commissions is a relatively new development in the fixed-indexed annuity marketplace. Due to the persistently low interest rate environment, advisors are seeking alternatives to the traditional fixed income portion of clients’ investment portfolios. Incorporating the Index Protector 7 into a portfolio brings several advantages, which is why we are confident it is a solution that advisors will be excited to offer,” said Maringer.
Great American is poised to support Investment Advisor Representatives with the necessary technology and infrastructure to simplify their business. Maringer goes on to explain, “We recognize the importance of creating efficiencies for our advisors. From providing daily data feeds, supporting consolidated statements and more, we are here to meet the needs of our valued field distribution.”
The Index Protector 7 and Income Keeper are issued by Great American Life. The products are expected to be available for sale beginning August 22, 2016.
Great American Life Insurance Company® is a member of Great American Insurance Group® and is rated “A+” by Standard & Poor’s and “A” (Excellent) by A.M. Best for financial strength and operating performance.
About Great American Insurance Group
The annuity operations of Great American Insurance Group (GAIG) offer retirement solutions through the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Annuity subsidiaries include Great American Life Insurance Company® and Annuity Investors Life Insurance Company®. GAIG’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. The members of GAIG are subsidiaries of American Financial Group, Inc. (AFG). AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG. AFG is a Fortune 500 Company with assets of more than $50 billion as of June 30, 2016. Learn more at GAIG.com.
S&P rating affirmed March 2, 2016. “A+” is fifth highest of 21 categories. A.M. Best rating affirmed May 12, 2016. “A” (Excellent) is third highest out of 16 categories.