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January 03, 2013 at 09:38 AM
Minnesota Life, a unit of Securian Financial Group, St. Paul, Minn., has debuted a new Guide Series to its MultiOption variable annuity product line. Attributes of the MultiOption Guide products include:
- A simplified suite of variable annuities, including product available in a B series with a seven-year surrender charge and an L series with a four-year surrender charge.
- Optional living benefits, including Ovation Lifetime Income II, which establishes a benefit base for calculating guaranteed annual income either via withdrawals or annuitization.
- A streamlined investment lineup that simplifies the process of build VA portfolios.
Prudential Retirement, a unit of Prudential Financial Group, Newark, N.J. has added target-date funds from American Century Investments to its retirement plan offerings. Dubbed LIVESTRONG Portfolios, the diversified, time-based portfolios automatically adjust as their target goal date approaches. A portfolio target date is the approximate year when investors plan to start withdrawing their money.
American Century Investments, a privately held investment management firm, joins other Prudential fund partners that offer income guarantees. Among the companies are T. Rowe Price, Fidelity, J.P. Morgan and Vanguard.
Serving investment professionals, institutions, corporations and individual investors, American Century Investments offers actively managed investments through mutual funds, institutional separate accounts, commingled trusts and sub-advisory accounts. The company’s 1,300 employees serve clients from offices in New York; London; Hong Kong; Mountain View, Calif. and Kansas City, Mo.
