NU Online News Service, Sept. 7, 10:33 a.m. – Jefferson-Pilot Life Insurance Company Inc., Greensboro, N.C., says it will market a new fixed annuity through Banc of America Investment Services, San-Francisco, a subsidiary of Bank of America Corp.
Banc of America will sell the Jefferson Pilot Premier 5 Annuity to clients in 18 states and the District of Columbia.
The product is a single-premium deferred annuity with a market-value adjustment feature. It comes with a five-year interest rate guarantee and a five-year surrender charge schedule. The interest rate and surrender charge schedule reset every five years.
The Premier 5 also provides a guaranteed return of premium and free partial surrenders of up to 10% each year, Jefferson Pilot says. In most states, the contract also offers a nursing home and terminal illness waiver.