Security Benefit Life Insurance Company, a unit of Security Benefit Corp., launched two new indexed annuity contracts Monday.
The annuities are part of a new Strategic Growth Series Annuities family of annuities.
Both products are filed with regulators as non-variable contracts.
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The Strategic Growth Annuity contract comes without a bonus and is aimed at purchasers who want high participation rates and spreads, according to Security Benefit, which is based in Topeka, Kansas.
The Strategic Growth Plus Annuity contract offers a 6% premium bonus.
Both contracts offer purchasers access to the Morningstar Wide Moat Focus Barclays VC 7% index, along with a number of other interest crediting options, including the S&P 500 Low Volatility Daily Risk Control index.
Starting in the second contract year, the contracts offer free withdrawal of up to 10% of the prior year’s contract anniversary account value, according to Security Benefit.
In other annuity product news:
Great American Life, a unit of Cincinnati-based Great American Insurance Group, says it’s using a new Internal Revenue Service ruling to offer annuity holders help with paying fee-based advisors.