NU Online News Service, June 3, 1:25 p.m. – MONY Life Insurance Company of America, New York, today introduced its MONY Fixed Annuity product.
The product offers clients with retirement or estate-planning needs guaranteed interest rates and the potential for a lifetime income stream, with no up-front charges, MONY says.
Among key features are a choice of guarantee interest periods of one, three, five, seven, eight, or 10 years; a minimum interest rate guarantee of 3%; and the ability to transfer to another guaranteed interest period at any time.
MONY Partners, which wholesales MONY’s individual life and annuity products, will provide the MONY Fixed Annuity through a number of channels, including brokerage general agents and the MONY Group’s retail distribution channels.
The MONY Group’s retail distribution channels include MONY’s career agency system of financial professionals, Advest financial advisors and Trusted Advisors representatives. The product will also be available through financial intermediaries.