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Life Health > Life Insurance

Security Benefit introduces new variable annuity

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Security Benefit has introduced EliteDesigns II, the next variable annuity product in its EliteDesigns series.

The firm’s latest variable annuity (VA) fuses 280 investment options within a tax-deferred platform and is geared toward independent broker-dealers and registered reps. In addition to traditional stock and international portfolios, EliteDesigns II incorporates more than 60 alternative strategies and more than 50 fixed income offerings designed to alleviate market volatility.

“The wide array of investment options from 39 highly respected asset managers provides a flexible tool set for helping to manage stock-market volatility and rebuilding retirement savings without exposing investment earnings to new and higher federal taxes on investment income,” said Doug Wolff, president of Topeka, Kan.-based Security Benefit, in a statement. Security Benefit is indirectly controlled by Guggenheim Partners LLC.

Other features of EliteDesigns products include no trading limits or redemption fees on a large number of portfolios that are geared toward actively managed strategies. There are also no surrender or withdrawal charges or annual policy fees.

shirley ward

Saybrus Partners Inc., a Phoenix Cos. Inc., subsidiary, has made two personnel appointments. D. Steve Shirley, CLU, CHFC, is now managing
 director, national accounts, and Geoffrey F. Ward, CLU, CHFC, CFP, was appointed managing director, business development.

Shirley was previously national accounts vice president for institutional accounts, John Hancock Life Insurance Co., and has held senior sales management positions at Merrill Lynch & Company Inc. In his new role, he will manage key account relationships in an effort to drive sales in those channels as well as secure new institutional partnerships.

Ward’s charge is to identify new distribution channel opportunities for middle market product offerings. Previously, he was national director for MetLife and held senior sales positions at Travelers Life and Annuity.

Wolters Kluwer has launched Insurance Law Daily, an online news publication for financial services and insurance professionals. Available via email or mobile apps, the daily news service covers regulatory changes on the state and federal level, enforcement updates and case law summaries. Readers can customize the service to topics or jurisdictions relevant to them.

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