NU Online News Service, Jan. 7, 2004, 5:43 p.m. EST – Safeco Life Insurance Company, Redmond, Wash., says it will start selling its new Safeco Custom Annuity Jan. 15.[@@]
Safeco Life first announced the introduction of the single-premium fixed deferred annuity in December 2003.
The annuity offers investors a choice of a 1-year, 3-year or 5-year guaranteed interest rate period and a minimum initial premium of $10,000.
Safeco Life is responsible for making the interest payments and backing the other product guarantees.
Safeco Life is a unit of Safeco Corp., Seattle.