GALVESTON, Texas, June 26, 2014 (GLOBE NEWSWIRE) -- American National Insurance Company located in Galveston, Texas introduces the Signature Indexed Universal Life Insurance Policy.
American National Insurance Company announces a new product, Signature Indexed Universal Life Insurance (IUL) policy, available July 1, 2014. This innovative life product provides Death Benefit protection and three Indexed Crediting Strategies along with a fixed account strategy for clients to choose from.
Signature IUL can provide the opportunity to earn interest based upon the performance of the S&P 500® Index without the client being directly invested in the Index. Therefore, the accumulation value will never decrease based on the fluctuations of the S&P 500® Index as all three of the indexed interest crediting strategies have a built‐in floor. One of the Indexed Strategies currently has a declared floor of 1.5% so that strategy can earn interest even in the event of a decrease in the market*.
Signature IUL will provide clients the permanent protection their families need with the opportunity to increase accumulation value for future emergencies, college education or supplemental retirement income. The Signature IUL has multiple uses while providing family protection.
This product also includes, at no additional premium, three Living Benefits covering 16 critical illnesses as well as chronic and terminal illness in the form of Accelerated Benefit Riders. In the event of a qualifying illness, the policy owner may choose between partial or full death benefit acceleration. In order to accelerate the death benefit, the benefit is reduced by an actuarial discount in addition to a small administrative fee (up to $500).
David A. Behrens, Executive Vice President of American National Insurance Company stated, "American National's new Signature IUL builds upon the tested concepts of our previous indexed products to create a competitive second generation IUL with more options for clients and partial living benefit accelerations. Signature IUL allows a client to have control over the placement of their premium in the various indexed strategies or a fixed account while guaranteeing their family's future will be protected."
About American National
American National Insurance Company (American National), headquartered in Galveston, Texas, was founded in 1905 and is licensed to conduct the business of insurance in all states except New York. American National is also a family of companies and offers a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension products and property and casualty insurance for personal lines, agribusiness and certain commercial exposures. The family of companies operates in all 50 states.
Financial Strength Ratings
American National Insurance Company ("American National") has been evaluated and assigned the following ratings by nationally recognized, independent rating agencies. The ratings are current as of
May 30, 2014.
| A.M. Best1 | A |
| Standard & Poor's2 | A |
Ratings reflect current independent opinions of the financial capacity of an insurance organization to meet the obligations of its insurance policies and contracts in accordance with their terms. They are based on comprehensive quantitative and qualitative evaluations of the company and its management strategy. The rating agencies do not provide ratings as a recommendation to purchase insurance or annuities. The ratings are not a warranty of an insurer's current or future ability to meet its contractual obligations.
Ratings may be changed, suspended, or withdrawn at any time. For the most current ratings view the full rating reports on American National's Internet site at www.anico.com.
1 A.M. Best's active company rating scale is: A++ (Superior), A+ (Superior), A (Excellent), A- (Excellent), B++ (Good), B+ (Good), B (Fair), B- (Fair), C++ (Marginal), C+ (Marginal), C (Weak), C- (Weak) and D (Poor).
2 Ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.
Additional Information
For more information, including company news and investor relations information, visit the company's web site at www.anico.com.
Contact our Independent Marking Group Field Support Center at 888-501-4043.
The Signature Indexed Universal Life Insurance policy is not a registered security or stock market investment and does not directly participate in any stock or equity investment or index. When an individual purchases the policy, the individual is not buying an ownership interest in any stock or index.
American National Insurance Company and its agents do not make any recommendations regarding the selection of indexed strategies. American National Insurance Company and its agents do not guarantee the performance of any indexed strategies.
*From policy month to policy month the accumulation value may decrease due to the monthly deduction regardless of the interest rate credited for any particular strategy.
The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by American National Insurance Company. Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by American National Insurance Company. American National Insurance Company's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.
Form Series: IUL14; ABR14-TM; ABR14-CH; ABR14-CT (Forms may vary State) IMG12726