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Industry News & Trends
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Written by Cyber InsuranceNews
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Monday, July 06 2009 |
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Great American Life Insurance Company® (GAFRI) has packed some features into its newest annuity product that make it stand out from other GAFRI products.
Safe ReturnSM is a new single premium fixed-indexed annuity product designed for clients who desire wealth protection and growth potential.
What makes it unique to the GAFRI roster of products, however, is that it offers clients the security of a bailout cap and return of premium feature. The bailout cap feature means that if the renewal cap is lower than the bailout cap, clients will be notified and have 30 days to withdraw or transfer the account value with no penalty. And with the return of premium feature, clients can choose to surrender their contract at any time and have their money returned—guaranteed.
“Today’s consumer is legitimately concerned about creating a secure financial future,” said Malott Nyhart, GAFRI executive vice president and general manager. “We designed Safe Return with that security in mind. Both the bailout cap and return of premium features give the client much more investment protection, with the ultimate goal of providing retirement income.”
GAFRI is a subsidiary of Great American Financial Resources®, Inc.
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