AmeriLife Links New Annuity to Credit Suisse Index
The distributor is getting the contracts from Sentinel Security and Atlantic Coast Life.
AmeriLife has turned to two life insurance subsidiaries of A-CAP to stock its non-variable annuity shelves.
The Clearwater, Florida-based life, health and annuity distributor is introducing the Accumulation Protector Plus Annuity contract, which it’s also calling the APP contract.
The A-CAP subsidiaries writing the contracts are Sentinel Security Life Insurance Company of Salt Lake City, Utah, and and Atlantic Coast Life Insurance Company of Charleston, South Carolina.
(Related: AmeriLife Acquires Control Over J.D. Mellberg)
A-CAP is a New York-based holding company. The company’s chairman and chief executive officer is Kenneth King, who has worked in the past for Gallagher Capital Solutions, Swiss Re Financial Products and Gen Re Financial Products.
The new APP contract offers holders exclusive access to the Credit Suisse Momentum Index crediting rate option and a 10-year guarantee of participation rates through the index, according to AmeriLife.
Purchasers can buy a rate enhancement rider. The rider can increase the amount available for free withdrawals, and it comes with a 100% minimum guaranteed return of premium over 10 years, according to AmeriLife.
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