NU Online News Service, May 29, 2003, 4:21 p.m. EDT – Americom Life & Annuity, Baltimore, has introduced the Spirit 7 equity-indexed annuity.

The annuity is a deferred, indexed annuity with a flexible premium schedule.

One Spirit 7 feature is a “7% Account Value Escalator.” The feature adds an extra 7% in interest to first-year premiums over a 7-year period.

Buyers can choose between index returns linked to the performance of the S&P 500 index or the Dow Jones Industrial Average index. Buyers can also choose a fixed-interest option.

Americom is a unit of Old Mutual P.L.C., London.