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.