NU Online News Service, Sept. 23, 11:23 a.m. – Allmerica Financial Corp., Worcester, Mass., has introduced the Allmerica Select Optim-L deferred variable annuity.
Allmerica has designed the annuity for customers worried about liquidity, by offering a relatively short surrender-charge period.
The charge for contract holders who want to cash out starts at 7% of the account value during the first contract year but drops to zero after three years, Allmerica says.