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New Annuity Will Serve Ailing Applicants

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NU Online News Service, March 22, 2005, 3:25 p.m. EST

Jefferson Pilot Financial is introducing a product for consumers who already have serious illnesses.[@@]

The Greensboro, N.C., company says its new Jefferson Pilot Impaired Risk Single Premium Immediate Annuity can generate extra income for clients with medical conditions that reduce their life expectancy.

Jefferson Pilot, a unit of Jefferson-Pilot Corp., Greensboro, also is introducing the Jefferson Pilot OptiPro family of annuities. The OptiPro family will include flexible-premium, equity-indexed annuities that give purchasers a choice of 7-year and 13-year surrender-charge periods.

Other new products, 2 additions to the Jefferson Pilot New Directions equity-indexed annuity series, will offer purchasers a chance to choose between a fixed account with an 8-year rate guarantee and a single indexed account. The JPF I-88A contract provides a “fixed account and a performance-triggered indexed account,” and the JPF I-88B contract provides a “fixed account and a 2-year point-to-point indexed account,” Jefferson Pilot says.