CINCINNATI--(BUSINESS WIRE)--Great American Life® is pleased to announce its Index Frontier® and Index Summit 6SM variable-indexed annuities are now available through Barnabas Capital.
Barnabas Capital joins an elite list of wholesale Broker/Dealers positioned to offer Great American Life’s variable-indexed annuities. These innovative products offer competitive earning potential and partial protection from market loss, making them an appealing investment vehicle in a volatile market.
Index Frontier annuities provide peace of mind in uncertain markets
The Index Frontier 5 and 7 are designed for investors who are dissatisfied with low fixed income yields and seeking more protection than offered by equities.
With Index Frontier annuities, consumers can allocate money to indexed strategies that give them the opportunity to participate in market growth while receiving a set level of protection from market downturns. Losses are capped at 0% or 10% each term, meaning consumers always know their risk exposure – even in the most uncertain markets.
Index Summit 6 is a first-of-its-kind annuity
The Index Summit 6, which launched in May 2019, is the only annuity on the market to offer indexed strategies with both upside and downside participation rates.
Strategies feature a 50% downside participation rate and current upside participation rates of up to 120% for the first term. This gives consumers the opportunity to outperform the market while assuming only half the risk of index downturns each term.
“We are excited to join forces with a solution-focused organization like Barnabas Capital,” said Tony Compton, Divisional Vice President of B/D and RIA Sales for Great American Life. “As the bull market rages on, people are growing nervous that a correction will happen soon. Many consumers are seeking products that provide some protection, but they don’t want to forfeit their opportunity for asset accumulation. Our variable-indexed annuities answer the call, allowing growth-focused clients to mitigate some downside risk.”
According to Joe Powell, President of Barnabas Capital, adding Great American’s products to their lineup was an easy decision.
“Great American has a great reputation in our industry and we are incredibly excited to work with them,” he said. “Their commitment to product simplicity, competitive solutions and their long history of financial strength makes them an ideal carrier. As evidenced by growing annuity industry sales, consumers are looking for financial solutions that help balance growth with a level of protection. Great American has a strong suite of variable-indexed annuities to address this need.”
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, fixed-indexed and variable-indexed annuities in the retail, broker-dealer, financial institutions and registered investment advisor 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 more than $65 billion in assets. Learn more at GAIG.com.
About Barnabas Capital, LLC
Barnabas Capital is a third-party distributor of investment and insurance products. As a solutions-focused organization that provides unbiased and objective solutions to financial professionals, the products they market are designed to provide certain levels of protection, while mitigating many key investment-related risks. Learn more at barnabascapital.com.
Barnabas Capital, LLC is not an affiliate of Great American Life Insurance Company or Great American Advisors, Inc.
Index Summit 6 upside participation rate effective July 7-20, 2019 and subject to change. Applies to iShares MSCI EAFE ETF 2-year term with participation rate strategy.
S&P rating affirmed March 14, 2019. “A+” is fifth highest of 21 categories. A.M. Best rating affirmed August 17, 2018. “A” (Excellent) is third highest out of 16 categories.
The Index Frontier 5, Index Frontier 7 and Index Summit 6 can only be sold through a Broker/Dealer that is contracted with Great American Life Insurance Company (“Great American Life”). Sales solicitations must be accompanied or preceded by a prospectus. The prospectus contains important information about the annuity and Great American Life. To obtain a copy of the prospectus, please visit GAIGannuities.com. Read it carefully before you purchase an Index Frontier 5, Index Frontier 7 or Index Summit 6 contract.
Great American Life designed these contracts to be long-term investments that can be used to help build a retirement nest egg and provide income for retirement. The limitations, adjustments and charges included in the contracts reflect their long-term nature. All guarantees are subject to the claims-paying ability of Great American Life. No company other than Great American Life has any legal responsibility to pay amounts owed under the contract.
Variable-indexed annuities involve risk of potential loss, which may include both your original principal and prior earnings, and may not be suitable for all investors. Products and features may vary by state, and may not be available in all states.
Withdrawals will reduce the account value, which in turn reduces the amount payable upon surrender, applied to the annuity payout benefit, or payable as the death benefit. Withdrawals may be subject to withdrawal charges. If you withdraw money from an indexed strategy before the end of a term, it will affect your return for that term and may have a significant negative effect. If under age 59½, the taxable amount withdrawn from a qualified or non-qualified annuity is generally subject to a 10% federal penalty tax.
Great American Life Insurance Company is not an investment adviser and the information provided in this document is not investment advice, legal advice, or tax advice. You should consult your investment professional for advice based on your personal circumstances and financial situation. You should seek advice on legal or tax questions based on your particular circumstances from an attorney or tax advisor.
Principal Underwriter/Distributor: Great American Advisors, Inc., member FINRA and an affiliate of Great American Life Insurance Company.
Products are issued by Great American Life Insurance Company®, member of Great American Insurance Group (Cincinnati, Ohio) under contract forms P1822217NW, P1822317NW and P1825218NW, endorsement form E1826318NW, and rider forms R1462416NW and R1462316NW (not available in Massachusetts). Contract and rider form numbers may vary by state. © 2019 Great American Life Insurance Company. All rights reserved.