Speak with a Registered Agent: 1-866-223-2121

Speak with a Registered Agent: 1-866-223-2121

Great American Life Launches Unique New Annuity Product


By

A recent collaboration between Great American Life and Raymond James has produced a new type of variable-indexed annuity. The Index Summit 6℠ is the first of its kind, offering crediting strategies with both upside and downside participation rates. According to a recent InsuranceNewsNet article, the breakthrough product will only be offered through financial institutions, banks and independent broker dealers.

Currently, the crediting strategies feature a 50% downside participation rate and upside rates of up to 120% for the first term. Great American claims that this combinations can mean improved growth opportunity for clients, while they assume only half the risk of index downturns each term. Earning potential will be linked to well-known indexes and ETFs, such as S&P 500®, iShares U.S. Real Estate ETF, and iShares MSCI EAFE ETF.

In a recent press release Great American highlighted the opportunity for diversification along with the unique combination of upside potential and downside protection, pointing out that this new solution can help mitigate the volatility seen in today’s uncertain market.

Other key offerings include a return of premium death benefit, no annual or recurring charges and an early withdrawal charge schedule that ends after six years. The release stated that these features demonstrate Great American Life’s commitment to offering transparent products that help clients achieve their goals with no surprises.

“We are incredibly honored to have worked with Raymond James to create this new, innovative solution in an increasingly competitive market,” said Joe Maringer, National Sales Vice President, Great American Life. “One of our main goals in developing this product wa to provide an alternative to traditionally sold structured investments with the added benefit of tax deferral. This, coupled with its growth potential and protection factor, can make the Index Summit 6 an attractive investment vehicle for growth-focused clients seeking to mitigate market volatility.”

Great American Life Insurance Company is a member of Great American Insurance Group and has received a rating of “A+” by Standard & Poor’s and “A” (Excellent) by A.M. Best for financial strength and operating performance.

For more information about variable annuity products, visit our website, www.annuityfyi.com. Questions or comments? Call us at 1-866-223-2121, or send us an email at support@annuityfyi.com.

Written by Rachel Summit

Follow Rachel, aka Finance Mama, on Twitter and Google+

For more information about the product mentioned in this article contact us here:

Newest Blog Posts

Information Request Form

If you have questions or would like more information, please complete this form and a licensed professional will be happy to help.

By providing your information and clicking 'Submit' above, you acknowledge that you have read and agree to this site's privacy policy. You also provide your consent to be contacted at the email address or phone number provided above (including any wireless number) by licensed agents or representatives from or on behalf of AFYI Holdings Group, LLC and other companies to provide the information requested and/or offer annuities or financial products. You understand that these calls or SMS messages may be generated using an automated telephone dialing system, a pre-recorded message, or artificial voice. Consent to receive such messages is not a condition to purchase any goods or services. You may opt out at any time by following the instructions in the messages you receive.  Receiving quotes and information through our website is free, and you are under no obligation to purchase any goods or services as a result of this request. You affirm that you are the subscriber of the provided telephone number or that the subscriber authorized you to provide the number. Message and data rates may apply. AFYI Holdings Group, LLC is committed to respecting your privacy and adhering to all applicable laws and regulations, including the Telephone Consumer Protection Act (TCPA).