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Old Mutual Unit Adds Bonus Annuity

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NU Online News Service, May 1, 11:32 a.m. – Fidelity & Guaranty Life Insurance Company, Baltimore, a unit of Old Mutual P.L.C., London, has introduced the Bonus 444 single-premium deferred annuity.

The annuity provides an initial interest rate guarantee period of four years and free withdrawal of accrued interest. The annuity also offers a 12% interest bonus for clients who keep their assets in the annuity for 12 years.

If consumers buy a special rider, F&G Life will pay 104% of the account value at death if death occurs before the end of the 12th policy year.

The bonus requires a minimum premium of $5,000 for money that does not qualify for special retirement savings tax breaks and $2,000 for qualified funds.

F&G Life is also continuing to sell another bonus annuity, the Bonus 555 annuity.