Earlier this week, Securian Financial Group announced the addition of four new annuity solutions to its suite of products. The desire for guaranteed retirement income is rapidly growing, creating a need for a variety of products to accommodate clients’ unique situations. Details of the four new products were outlined in a recent BusinessWire press release.
SecureLink Future: Fixed Indexed Annuity
Designed for clients seeking retirement asset growth in addition to the protection of guarantees. This product will provide:
- Four account options to allocate purchase payments
- Indexed accounts linked to indices from S&P 500® and Barclays
- Choice of seven or nine year surrender charge periods
Achiever Lifetime Income: Guaranteed Lifetime Withdrawal Benefit for SecureLink Future
This optional guaranteed lifetime withdrawal benefit (GLWB) offers clients flexible access to their SecureLink Future annuity. It is available for an additional cost at contract issue, and provides:
- Guaranteed annual income of 3.5% to 7% of the benefit base (single), or 3% to 6.5% (joint)
- An 8% enhancement added to the benefit base in each year with no withdrawals during the first 10 years
- A 200% benefit base guarantee if no withdrawals are taken in the first 10 years
Premier Protector: Accelerated Death Benefit with Spending Flexibility
This unique variable annuity optional death benefit is available at contract issue for an additional cost. Premier Protector allows a client to accelerate access to the death benefit upon diagnosis of a permanent chronic or terminal illness. Upon acceleration, the client has complete flexibility in how the benefit proceed are spent.
MultiOption Advantage: Variable Annuity for Fee-Based Platforms
Securian developed this product, a new variable annuity for fee-based platforms, for advisors and broker-dealers interested in diversifying their variable annuity product offerings.
Written by Rachel Summit