CINCINNATI--(BUSINESS WIRE)--Great American Life Insurance Company® is pleased to announce that its new, fee-based fixed-indexed annuity with optional guaranteed income rider is now available through financial advisors at Raymond James. The annuity will complement the commissioned-based indexed annuities already on the firm’s platform and provide an additional fee-based option.
The Index ProtectorSM 7 fixed-indexed annuity, introduced in August, marks Great American Life’s entry into the investment advisory channel. As one of the first fixed-indexed annuities to hit this emerging market, the Index Protector 7 is designed for financial advisors who offer fee-based services.
The Index Protector 7 offers competitive earning potential, tax-deferred growth and a return of premium guarantee. In addition, consumers can add the low-cost Income KeeperSM rider, which provides lifetime income payments that could increase each year.
According to Joe Maringer, National Sales Vice President, Great American Life, the Index Protector 7 is an opportunity for consumers to further diversify* their portfolios.
“We are pleased to further partner with a leading organization like Raymond James to offer a product that fits into a fee-based advisory model. This is a relatively new development in the fixed-indexed annuity marketplace. Due to the persistently low interest rate environment, advisors may be seeking alternatives for the traditional fixed income portion of clients’ investment portfolios. Incorporating the Index Protector 7 into a portfolio brings several advantages, which is why we are confident it is a solution that advisors will be excited to offer,” said Maringer.
According to Scott Stolz, Senior Vice President, PCG Investment Products at Raymond James, “Demographic trends continue to favor fixed-indexed annuities. In addition to the much needed income guarantees, they provide our clients the potential to get returns in excess of inflation while subjecting their principal to minimal risk. We invited Great American to provide an annuity option for those advisors and clients who prefer an advisory arrangement. We believe that, given the changing regulatory landscape, the need for fee-based annuities will only grow.”
Great American Life Insurance Company is a member of Great American Insurance Group® and is rated “A+” by Standard & Poor’s and “A” (Excellent) by A.M. Best for financial strength and operating performance.
The annuity operations of Great American Insurance Group (GAIG) offer retirement solutions through the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Annuity subsidiaries include Great American Life Insurance Company® and Annuity Investors Life Insurance Company®. GAIG’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. The members of GAIG are subsidiaries of American Financial Group, Inc. (AFG). AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG. AFG is a Fortune 500 Company with assets of more than $50 billion as of June 30, 2016. Learn more at GAIG.com.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 6,900 financial advisors serving in excess of 2.8 million client accounts in more than 2,800 locations throughout the United States, Canada and overseas. Total client assets are approximately $556 billion. Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF. Additional information is available at www.raymondjames.com.
*Diversification does not ensure a profit or protection against loss.
S&P rating affirmed March 2, 2016. “A+” is fifth highest of 22 categories. A.M. Best rating affirmed May 12, 2016. “A” (Excellent) is third highest out of 16 categories.