A large insurer is expanding its line of equity-indexed annuities.
Fidelity and Guaranty Life Insurance Company, Baltimore, a unit of Old Mutual P.L.C., London, has introduced the Safety Index 4, 7 and 10 EIA contracts.
The contracts offer a choice of 3 different surrender charge schedules.
Each products offer a minimum guaranteed surrender value feature that will pay holders at least 100% of premium payments along with 3% interest, Old Mutual says.
The contracts also offer a 3% minimum fixed interest rate guarantee and 5 account value options.
Fidelity & Guaranty is responsible for backing the product guarantees.