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Great-American Adds Indexed Annuities

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Great American Life has introduced two new indexed annuities.

(Related: Annuity Issuers Roll Out New Videos)

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.

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