Great American Life has introduced two new indexed annuities.
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The Cincinnati-based American Financial Group Inc. subsidiary has filed both contracts as non-variable products, and both products are aimed at fee-based advisors.
One of the new products in the Index Protector 4 contract, and the other is the Index Protector 5 MVA contract.
The new contracts are similar to Great American Life’s Index Protector 7 product.
The Index Protector 5 MVA contract has comes with no charges for early withdrawals, and a market value adjustment feature that ends after five years.
The Index Protector 4 contracts has early withdrawal charges that end after four years and no market value adjustment feature.
The Index Protector 4 contract is the only fee-based indexed annuity that’s filed as a non-variable product and comes without a market value adjustment, according to Great American Life.
— Read Annuity Update: Security Benefit, Great American, Annuities Genius, Transamerica, on ThinkAdvisor.