Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Retirement Planning > Retirement Investing > Annuity Investing

Security Benefit Adds to RateTrack Family

By Allison Bell

X
Your article was successfully shared with the contacts you provided.

Security Benefit has livened up a relatively quiet period for annuity product introductions by announcing an addition to its RateTrack line.

The Topeka, Kansas-based life insurer is launching the RateTrack Plus Annuity contract.

The contract is a floating-rate annuity that includes a 4% bonus on the purchase payment, along with an income benefit that guarantees income for life.

Security Benefit says it designed the product to appeal to clients, and advisors, who believe interest rates will rise.

(Related: 5 Big Questions About Annuities for 2018)

Security Benefit will calculate the interest rate for a contract by combining a fixed interest rate with a floating rate, the 3 Month ICE LIBOR USD rate.

Security Benefit says it will apply the crediting method both to the guaranteed annual roll-up to the benefit base and to the income benefit.

Security Benefit introduced an earlier product in the family, the Security Benefit RateTrack Annuity, in 2016.

The older annuity features the same interest crediting method. One key difference between the older annuity and the new annuity is the new contract’s income benefit provision, Security Benefit says.

—Read Your Kids Could Pay the Price for Poor LTC Planning on ThinkAdvisor.


— Connect with ThinkAdvisor Life/Health on Facebook and Twitter. 

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.