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May 17, 2019 at 12:23 PM
A Midwestern life insurer that recently raised $35 million through a stock offering has posted a new N-4 registration statement for its individual deferred variable annuity contract.
The insurer, Federal Life Group Inc., filed the document with the U.S. Securities and Exchange Commission. The last time the company filed a similar document was in 2008.
(Related: Federal Life Goes Public)
Federal Life has said that it wants to use cash from the stock offering to expand its variable annuity program.
Filing Details
A summary of the transaction expenses included in the registration statement shows that the contract would come with no sales load, deferred sales load or exchange fee.
The maximum premium taxes would be 3.5% of the purchase payment.
The expedited delivery charge would be $25.
The periodic expenses would be a morality and expense risk charge, which would equal 0.75% of the average account value, and an account fee and expenses charge, which would amount to 0.15% of the average account value.
