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May 24, 2006 at 01:22 PM
Fort Dearborn Life Insurance Company has introduced the Platinum Fortifier annuity.
The product is a single-premium fixed annuity with a guaranteed minimum interest rate of 3%, according to Fort Dearborn, Chicago, a unit of Health Care Service Corp.
The annuity has a 7-year surrender charge schedule, and purchasers can choose a return-of-premium option when they buy the policy, Fort Dearborn says.
Other features include a first-year bonus rate of up to 3%, issuance up to age 90, and access to a 10% free withdrawal during the first policy year, Fort Dearborn says.
