DES MOINES, Iowa--(BUSINESS WIRE)--Global Atlantic Financial Group, a leading U.S.-focused retirement, life insurance and reinsurance company, recently launched its newest indexed universal life policy, Global Accumulator IUL.
Issued by Accordia Life and Annuity Company, a subsidiary of Global Atlantic, Global Accumulator is an accumulation-focused IUL product that offers a variety of indexed strategies, including two SMART Buy-Up Add-On options: SMART Buy-Up Secure and SMART Buy-Up Performance. It also offers a fixed term strategy.
“Global Accumulator is designed for individuals looking for greater accumulation potential, while maintaining flexibility and downside protection,” said Dave Wilken, President, Life, at Global Atlantic.
Buy-Ups, or “multipliers”, are designed to enhance the accumulation potential of the policy, for an additional charge. Unlike other multiplier products in the market, Global Atlantic’s SMART design helps protect the policy's ability to withstand charges related to Buy-Up strategies, while also being able to take advantage of their upside potential. SMART Buy-Up Secure provides a 25% Add-On to any indexed interest credit received, and SMART Buy-Up Performance provides a 100% Add-On.
Global Accumulator also includes other popular features from previous product releases. These features include the Linked Loan interest rate option, which provides the potential to earn loan interest linked to index performance, and the Wellness for Life® rider, which gives cost of insurance discounts for insureds who visit the doctor at least once every other year and manage their weight within a range determined at policy issue.
Wellness for Life® Rider not available in all states.
Global Accumulator is issued by and all policy benefits are the responsibility of Accordia Life and Annuity Company, 215 10th Street, Des Moines, Iowa and not that of any other insurer or company. Policy form ICC19-IULF-A20, IULF-A20. Endorsement form ICC19-IULBU2PTP-A20, IULBU2PTP-A20. Rider form ULWF-E14
Global Atlantic Financial Group (Global Atlantic) is the marketing name for Global Atlantic Financial Group Limited and its subsidiaries, including Accordia Life and Annuity Company and Forethought Life Insurance Company. Each subsidiary is responsible for its own financial and contractual obligations. These subsidiaries are not authorized to do business in New York.
About Global Atlantic Financial Group
Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs. In addition, Global Atlantic offers custom solutions and responsive service for the capital, risk and legacy-business management of life and annuity insurance companies around the world.
Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent company in 2013. Its success is driven by a unique heritage that combines deep product and distribution knowledge with insightful investment and risk management capabilities, alongside a strong financial foundation of approximately $90 billion in assets.