OneAmerica announced the launch of American United Life Insurance Company’s Secure Income Stream Annuity. The new product is a flexible, deferred income annuity designed to provide consumers with a guaranteed income for their lifetime.
OneAmerica states that guaranteed income from Secure Income Stream is possible because payments into the contract are reserved to address long-term income goals. Building future income starts with an initial payment of $5,000, with an option to make additional payments of at least $1,000 until 60 days prior to the income start date. The only distributions are income payments, which can start as early as 13 months after the contract date, or may be distributed to loved ones at the annuitant’s death.
This new annuity also offers the ability to customize a guaranteed income strategy. Consumers can select from a variety of income options and choose how often income payments are disbursed (monthly, quarterly or annually) among other features.
“Consumers are in various stages and have different goals when preparing for retirement,” said Patrick M. Foley, president, Individual Life & Financial Services for the OneAmerica companies. ”Some may not have an employer-sponsored pension while others may need to rebuild their income or protect against outliving their money. With Secure Income Stream, our financial professionals can help consumers put an income strategy in motion and address their retirement goals with confidence.”
Prudential Retirement Insurance and Annuity Company (Prudential Retirement) announced today that they’ve been selected by Bergmann Associates to provide full servicing for its nearly $33 million, 330-participant retirement plan and by LiveOps for its nearly $13 million retirement plan. Prudential Retirement is a business unit of Prudential Financial Inc.
Bergmann Associates is an engineering and architectural design firm with three decades of success providing multi-disciplinary services to clients throughout the United States.
LiveOps is a cloud contact center and customer service software provider that enables companies to easily deliver excellent customer service while effectively monetizing customer interactions across voice, email, chat, social media and mobile SMS.
Jefferson National‘s flat-fee variable annuity Monument Advisor added 23 new investment options to its lineup, including several new funds embedded with strategies to manage risk and volatility.
In response to strong advisor demand, Jefferson National’s latest additions include a full suite of 14 investment options from American Funds, including five managed risk funds that utilize a Milliman hedge to manage volatility and provide downside protection. Additional options with embedded risk management include Federated Managed Tail Risk Fund II, and Goldman Sachs Variable Insurance Trust Global Markets Navigator Fund, a managed volatility fund. Jefferson National also added a diversified suite of six asset allocation funds from SEI. Jefferson National rounded out its lineup with Gold Bullion Strategy Portfolio from Advisors Preferred Trust.