Great American Life Insurance Company has introduced two new indexed annuity contracts: the American Landmark 3 contract and the AssuranceSelect 3 Plus contract.
(Related: Great American Adds 3-Year MYGA)
Great American is selling the American Landmark 3 contract through retail financial professionals and the AssuranceSelect 3 Plus contract through financial institutions.
Purchasers of the contracts can take cash out without facing surrender charges after three years.
The investment index menu for the contracts includes the S&P 500 index, the iShares U.S. Real Estate ETF, and the iShares MSCI EAFE ETF.
The contracts are available with an issue age up to age 90.
The company says it believes the contracts will be the only indexed annuities filed as fixed annuity products with a three-year surrender period.
In January, Great American introduced the American Freedom Classic 3 contract, a multi-year guaranteed annuity contract with a fixed interest rate that’s guaranteed to stay the same for three years.
Great American is a unit of Great American Insurance Group, which is part of American Financial Group Inc.
— Read Great-American Adds Variable Indexed Annuity, on ThinkAdvisor.