CINCINNATI--(BUSINESS WIRE)--Great American Life® is expanding its product offerings to include a variable-indexed annuity. The Index FrontierSM 7 is designed for investors who are unsatisfied with low fixed income yields and seeking more protection than offered by equities.
The Index Frontier 7 gives consumers the opportunity to grow their money in rising markets, while providing a level of protection in down markets. Contract owners choose from indexed strategies with returns tied to the performance of the S&P 500® Index, iShares U.S. Real Estate ETF or the SPDR Gold Shares ETF. Each strategy offers a different level of earning potential and protection, so consumers can customize their strategy selection to fit their risk tolerance.
According to Joe Maringer, National Sales Vice President, Great American Life, the potential for stock market corrections could mean it is time for consumers to rebalance their financial portfolios.
“This month marks the 10th anniversary of the longest-running bull market in the last 50 years. While consumers have reaped the benefits of that growth, those nearing or in retirement should consider ways to garner some level of protection before the next market downturn.”
When variable-indexed annuities hit the market in 2014, industry sales were less than $500 million. Sales exceeded $9 billion in 2017.
“The recent growth of these solutions can be attributed to the need for accumulation and stability. In exchange for a -10% floor each term, Index Frontier 7 currently offers the potential for positive returns up to 20%. We’re pleased to enter and commit to this market as a financially strong, American-based provider, with the technology and service to support our distributors and contract owners,” says Maringer.
Consistent with Great American’s commitment to providing consumer value, the Index Frontier 7 does not have annual administrative fees, mortality and expense charges, or 12b-1 fees. The product offers tax-deferred growth, lifetime income options and a seven-year early withdrawal charge period. For detailed product information, please review the prospectus at GAconnect.com/IndexFrontier.
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.
About Great American Insurance Group
The annuity operations of Great American Insurance Group (GAIG) offer retirement solutions through the sale of traditional fixed, fixed-indexed and variable-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 $60 billion as of December 31, 2017. Learn more at GAIG.com.
Source: LIMRA Secure Retirement Institute
Rates current as of March 19, 2018 and subject to change.
Principal Underwriter/Distributor: Great American Advisors, member FINRA and an affiliate of Great American Life Insurance Company. Product issued by Great American Life Insurance Company®, member of Great American Insurance Group (Cincinnati, Ohio).
S&P rating affirmed February 23, 2018. “A+” is fifth highest of 21 categories. A.M. Best rating affirmed August 11, 2017. “A” (Excellent) is third highest out of 16 categories.