Great American Life Insurance

MassMutual Acquires Great American Life

Massachusetts Mutual Life Insurance Co. has doubled down on its retail annuities business with the latest acquisition of a major annuity provider. Last Wednesday, MassMutual announced that they would purchase Cincinnati-based Great American Life Insurance Company for $3.5 billion. Great American, which is owned by American Financial Group, provides fixed and fixed indexed annuities. Over the first three quarters of 2020, the company ranked 13th in fixed annuity sales, at about $2.4... Read More

Great American Life and Barnabas Capital Team to Offer New Annuity Products

Great American Life has teamed up with Barnabas Capital to offer 2 new variable annuity products. Index Frontier® and Index Summit 6sm variable-indexed annuities were created for investors who are not satisfied with low fixed-income yields and want more protection than that provided by equities. According to a recent Yahoo!Finance article, these products offer competitive earning potential and partial protection from market loss, which makes them attractive in a volatile market.When... Read More

Great American Life Launches Unique New Annuity Product

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... Read More

Protection and Liquidity With New Great American Annuity

For consumers who are looking for greater liquidity while growing their money without concern for market volatility, Great American Life has something to offer. Earlier this week, the Cincinnati based company announced the launch of a new fixed annuity product, the American Freedom ClassicSM 3, according to a recent press release.The new annuity is offering a fixed interest rate guaranteed for the initial three-year term. At the conclusion of the first term, consumers will have the... Read More

Great-American Life Offers Variable Indexed Annuity

According to a recent news article from ThinkAdvisor, Great-American Life Insurance Company has introduced a new variable indexed annuity that targets clients who like hard assets. The company, which is based in Cincinnati, Ohio, has said that purchasers can get a full prospectus and  an index menu that includes a gold index and a real estate index. Additionally, the index menu of Index Frontier 7 variable annuity will include the S&P 500 Index, the iShares U.S. Real Estate ETF, and the... Read More

Great American Life’s Fee-based Annuity Now Available Through Brookstone

In a press release last week, Great American Life Insurance Company® announced that their fee-based annuity will now be available through Brookstone Capital Management (BCM). The annuity product will allow BCM advisors to offer clients more diversification for their portfolios in order to manage risk.“We are thrilled to add a leader like Brookstone Capital to the growing list of RIAs that understand the value insurance adds to a portfolio by helping clients to achieve better... Read More

Great American Life #1 in Fixed-Indexed Annuity Sales

According to a Business Wire press release, Great American Life® was just ranked at the top of the list in fixed-indexed annuity sales through financial institutions in 2016. The insurer is responsible for nearly 20% of the $10 billion in industry sales.Tim Minard, Senior Vice President and Chief Distribution Officer, says the company has their distribution partners to thank for their success.  “This incredible achievement would not be possible without our dedicated distribution... Read More

Fee-based FIAs Gaining Momentum

The new Department of Labor’s fiduciary rule was designed to steer distributors away from commission-based sales, which has many insurers making changes to their line-ups. Included in these changes are new fee-based fixed indexed annuities for independent marketing organizations. But this sector, which has sold billions of dollars in fixed indexed annuities over the last decade, historically doesn’t show much enthusiasm for fee-based annuities. According to a recent article from... Read More

New Indexed Annuity Strategies from Great American Life

Indexed annuity buyers now have more options with two new strategies from Great American Life.  According to a recent Yahoo! Finance article, one will be based on the performance of the iShares U.S. Real Estate ETF and the other on the  S&P U.S. Retire Spending Index.iShares U.S. Real Estate Indexed StrategyAccording to John Burhoe, Vice President -- National Sales Manager, the iShares U.S. Real Estate indexed strategy provides diversification. With exposure to both domestic real... Read More

Distribution Channels for Fixed Indexed Annuity Sales Changing After DOL Rule

The majority of fixed indexed annuity products are sold through independent insurance agents. But after the final DOL fiduciary rule was announce on April 6, it's much less desirable for insurance companies to sell these annuities through independent agents. The insurance companies will be held liable for the BICE requirements because the independent marketing organizations that represent agents aren't considered financial institutions that can take on the liability. Banks and independent... Read More

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