An annuity insurer is rolling out a new family of single-premium deferred multi-year guarantee annuities with an optional market value adjustment feature.
Issued by Fort Dearborn Life Insurance Company, Downers Grove, Ill., the Destination Fortifier Series offers MYG annuities in several interest rate durations with matching surrender charge schedules.
The series also has multiple liquidity options, one of which allows an annual withdrawal of up to 15% of account value after year one or immediate withdrawals of interest without incurring surrender charges, the Chicago company says.
Other features include an optional market value adjustment in most states and issuance up to age 85 with a full account value death benefit.
The insurer is a brand of Dearborn National, whose parent is Health Care Service Corporation, a Chicago-based health benefits company.