NU Online News Service, Oct. 13, 2004, 4:39 p.m. EDT

Fidelity and Guaranty Life Insurance Company, Baltimore, Md., has introduced 2 new index annuities.[@@]

The new products, the Spectrum Rewards Choice 7 and 9 annuities, offer shorter surrender charge periods than earlier annuities in the series, a choice of 3 crediting options linked to the performance of the S&P 500 index, and a fixed-interest option, Fidelity & Guaranty says.

The Spectrum Rewards Choice 7 annuity comes with a Performance Trail Commission option. Agents who choose the option can tie their compensation directly to the current and future performance of a client’s annuity, Fidelity & Guaranty says.

The Spectrum Rewards Choice 9 annuity adds a 3 percentage point bonus to the interest rate applied to premiums paid during the first year that the contract is in effect.

Fidelity & Guaranty is a unit of Old Mutual P.L.C., London.