CINCINNATI--(BUSINESS WIRE)--Great American Life Insurance Company® is pleased to announce its fee-based fixed-indexed annuity with optional guaranteed income rider is now available through financial advisors affiliated with Commonwealth Financial Network®, the nation’s largest privately held independent broker/dealer–RIA. The annuity complements those already on the firm’s platform and provides an additional fee-based option in line with the firm’s forward vision.
The Index ProtectorSM 7 fixed-indexed annuity, introduced in August 2016, marked 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 partner with a prominent organization like Commonwealth to offer a product that fits well into a fee-based advisory model. Due to the continued low interest rate environment, advisors may be seeking alternatives for the traditional fixed income portion of clients’ investment portfolios. We feel the Index Protector 7 provides a compelling solution,” said Maringer.
Additionally, Maringer states, “The future of financial services is providing consumers with choice. This should include the choice of how they pay for products and services. We believe that offering the Index Protector 7 aligns well with the future direction of our industry.”
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 $55 billion as of December 31, 2016. Learn more at GAIG.com.
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer–RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. The firm supports more than 1,650 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit www.commonwealth.com.
S&P rating affirmed February 8, 2017. “A+” is fifth highest of 22 categories. A.M. Best rating affirmed May 12, 2016. “A” (Excellent) is third highest out of 16 categories.