Two life insurers are launching indexed annuities with talk about clarity.
Eagle Life Insurance Company and Standard Insurance Company say their contracts are easy for consumers to understand.
Here’s a look at the two contracts.
Eagle Life is a West Des Moines, Iowa-based American Equity Investment Life Insurance Company.
Eagle Life’s new contract, the Eagle Select Focus 5 contract, can offer purchasers options for getting cash out after five years or 10 years.
Other features include a five-year surrender charge period, flexible premiums that stop after the surrender period, a terminal illness rider and a nursing care rider.
The contracts a new allocation option: The S&P 500® Dividend Aristocrats Daily Risk Control 5% Excess Return with Participation Rate option.
Consumers can also choose use of the S&P 500 Index.
Ron Grensteiner, president of Eagle Life, says in a statement that the product is simple and easy to understand, and that it uses proven crediting methods.