NU Online News Service, April 1, 1:49 p.m. – The Allstate Corp., Northbrook, Ill., has introduced the Allstate Treasury-Linked Annuity.
The annuity is a premium-deferred, fixed annuity that provides a guaranteed return for five years. Purchasers may also be able to earn extra interest, if the performance of the five-year U.S. Treasury rate is strong enough, Allstate says.
At the end of the five-year return guarantee rate, Allstate will set a new rate based on the new market conditions. Holders who dislike the new terms will be able to withdraw their money without paying surrender charges, the company says.