TOPEKA, Kan., Jan. 16, 2018 (GLOBE NEWSWIRE) -- Security Benefit Life Insurance Company (SBL), a leader in the U.S. retirement savings market, today announced the launch of its RateTrack® Plus Annuity (RTP), a floating rate annuity that includes an income benefit and is designed to help clients participate in a rising interest rate environment.
RTP features a unique interest-crediting method, an income benefit that guarantees income for life and a four-percent bonus on the purchase payment. Interest on the account value is calculated by combining a fixed interest rate with a floating rate, the 3 Month ICE LIBOR USD Rate, an interest rate that has historically closely tracked the Federal Funds Rate. The unique crediting method then carries over to the income benefit, in addition to a guaranteed annual roll-up to the benefit base, to allow contract holders to automatically take advantage of rising rates for their retirement income.
“For more than 125 years, Security Benefit’s business has been built on providing innovative solutions that meet clients’ needs,” said Doug Wolff, President of SBL. “For financial representatives and their clients who believe interest rates will increase over the next several years, and who also want the security of guaranteed lifetime income, RateTrack Plus is an attractive option.”
The launch of RTP follows the success of Security Benefit’s RateTrack® Annuity, which has been a top selling fixed annuity since it debuted in March 2016, according to data from Beacon Research, selling more than $1 billion in its first year. RTP adds an income component to RateTrack’s innovative interest-crediting method that increases the income benefit roll-up as interest rates rise.
About Security Benefit
Security Benefit, a Kansas-based insurance company in business for more than 125 years, is a leader in the U.S. retirement market. Founded in 1892 by 11 men with just $11, the company pioneered life insurance for women and everyday people, and quickly established a tradition of community involvement that continues today. As of 2017 year end, the company together with its affiliates had more than $37 billion in assets under management, offering products in a full range of retirement markets and wealth segments for employers and individuals. Security Benefit is one of the fastest growing U.S. retirement companies and continues its mission of helping everyday Americans to and through retirement. To learn more about Security Benefit, visit www.securitybenefit.com.
Media Contacts:
Sean Logue, Communications Strategy Group
(720) 726-5455
slogue@wearecsg.com
Security Benefit Life Insurance Company is not a fiduciary and the information provided is not intended to be investment advice. This information is general in nature and intended for use with the general public. For additional information, including any specific advice or recommendations, please visit with your financial professional.
The Security Benefit RateTrack® Plus Annuity, form 5400 (03-17) and ICC17 5400 (03-17), a single premium deferred fixed annuity, and the Bonus Benefit with Guaranteed Lifetime Withdrawal Benefit Rider, form 5401 (03-17) and ICC17 5401 (3-17), for which a charge applies, are issued by Security Benefit Life Insurance Company. Product features, limitations and availability vary by state.
Guarantees provided by annuities are subject to the financial strength of the issuing insurance company. Annuities are not FDIC or NCUA/NCUSIF insured; are not obligations or deposits of, and are not guaranteed or underwritten by any bank, savings and loan, or credit union or its affiliates; are unrelated and not a condition of the provision or term of any banking service or activity.
ICE BENCHMARK ADMINISTRATION LIMITED MAKES NO WARRANTY, EXPRESS OR IMPLIED, EITHER AS TO THE RESULTS TO BE OBTAINED FROM THE USE OF ICE LIBOR AND/OR THE FIGURE AT WHICH ICE LIBOR STANDS AT ANY PARTICULAR TIME ON ANY PARTICULAR DAY OR OTHERWISE.
ICE BENCHMARK ADMINISTRATION LIMITED MAKES NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE FOR USE WITH RESPECT TO SECURITY BENEFIT RATETRACK PLUS ANNUITY.