Bankers Life and Casualty Company has introduced the GrowthPoint indexed annuity.
The annuity, part of the Bankers Security Builder annuity series at Bankers Life, Chicago, uses point-to-point indexing to calculate S&P 500 gains.
Point-to-point indexing looks only at the S&P 500 values at the beginning and end of the policy year, according to Bankers Life, a unit of Conseco Inc., Carmel, Ind.
GrowthPoint also offers a 100% participation rate.
The product’s index cap, rather than its participation rate, determines the growth that can be applied to the policy in a given policy year, Bankers Life says.