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New Fixed Indexed Annuities Offer Crediting Options, GMWB & 10% Bonus

Last month a new series of deferred fixed indexed annuities was introduced by Legacy Marketing Group.  Insurance News Net published a company press release titled “Legacy Launches Legendmark Series of Annuities“.  Fidelity & Guaranty Life Insurance Company is the issuer of these flexible premium fixed indexed annuities.  There are three benefits that make this new annuity series stand out.  Customers have a choice of crediting options, they are offered a unique Guaranteed Minimum Withdrawal Benefit rider and there is a bonus of up to 10%.  These new Legendmark annuity benefits offer customers significant growth and income possibilities.  These annuities are sold in most states by representatives of Legacy.

These fixed indexed annuities do not make customers choose between having growth and income opportunities or having income guarantees.  By giving customers the option to pay a fee for a different indexed crediting option, they can take advantage of higher caps.  This gives a greater potential for accumulation than the indexed crediting options that don’t charge a fee.  The fee is currently 1%.  You can split your premium between fee and no fee interest crediting options.  There is also a fixed rate crediting option available.  At the end of an interest crediting period, you can move your premium around and switch to different options.

The GMWB rider is called the Income XL RiderSM.  It offers the potential to get larger payouts for an annual fee of .70%.  Your Income Base can grow based on increasing market performance.  Legendmark fixed indexed annuities are available in 10 and 14 year options.  The vesting premium bonuses are 7% and 10%, respectively.  When customers choose the bonus option of this annuity, they have access to the Income XL Rider and the choice of interest crediting options.  With the no bonus version, they do not have the option of adding the Income XL Rider.  Customers can buy these annuities up until they are 85.  There are also liquidity riders for nursing home care, terminal illnesses, and home health care needs.  This new annuity series is the latest in the increasingly popular line of fixed indexed annuity products.

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