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Variable annuities
Overture Medley

A new and competitive no-withdrawal charge rider has been added to the Overture Medley variable annuity, issued by Ameritas Life (part of the UNIFI Companies). The optional rider has been designed to provide more liquidity for clients looking to reduce the withdrawal charge period from the standard nine years to zero. Medley currently has a base insurance charge of 0.85 percent, or 1.50 percent total (maximum 2.25 percent) with the rider. This can also be used in concert with the GLWB rider.

Compliance tools

With an eye to more transparent annuity transactions, the new system allows field reps to call a unique toll-free number while booking a sale. The system assigns a confirmation number to the call and helps create a voice record of each transaction, on behalf of the carrier, which is then stored on the carrier’s secure Web account. The company plans to have a significant presence with most annuity carriers by the second quarter of 2009, important as more thorough documentation becomes required in annuity sales.

Final expense
SLAICO/SCI Partnership

Standard Life and Accident Insurance Company and Service Corporation International have formed a partnership through SCI’s Dignity Memorial network to market funeral planning services in conjunction with final expense insurance. Through a central Web site (, clients can pre-plan the details of their final arrangements, understand the associated costs and make decisions on purchasing final expense whole life
policies, all at one time.