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.
In other annuity product news:
- Aviva Life Insurance Company, North Quincy, Mass., has introduced the Aviva Performance Plus Annuity and the Aviva Performance Max Annuity contracts.
The Aviva Performance Plus contract offers a 2% first-year premium bonus, and the Aviva Performance contract offers a 4% first-year premium bonus, according to Aviva.
Aviva is a subsidiary of Aviva P.L.C., London.