LOUISVILLE, Ky., Jan. 29, 2019 (GLOBE NEWSWIRE) -- Today, DPL Financial Partners (“DPL”), the insurance network for registered investment advisors (“RIAs”), and Security Benefit Life Insurance Company (“Security Benefit”) launched a new fixed index annuity built in response to feedback from DPL’s RIA members. The commission-free1 fixed index annuity – ClearLine – has a simplified product structure and provides a rising income feature that increases income payouts each year.
“The launch of this ClearLine FIA reflects the power of the DPL network in action,” said DPL Founder and CEO David Lau. “We gathered feedback from our members about product features and design. And we found a great partner in Security Benefit to build it. We are excited to enable our members to leverage the principal protection and increasing lifetime income benefits this product provides for their clients. ”
“This is a powerful retirement savings and income solution designed for consumers who work with RIAs and fee-only advisors,” said Doug Wolff, President of Security Benefit, “and is a continuation of our commitment to develop innovative annuity products to distribute through our partnership with DPL Financial Partners. ClearLine can provide RIAs and their clients some of the upside potential of the equity markets, with zero downside risk, and access to lifetime income solutions.”
“We worked closely with DPL to build ClearLine from the ground up,” added Wolff. “We developed the product and included features based on direct input from advisers. We are able to offer very competitive cap rates, spreads, participation rates, and payouts in this product, and we believe ultimately deliver great consumer value.”
The optional Rising Income Rider pays rising income for life and has an elective withdrawal feature for non-qualified contracts that may reduce the tax burden for some retirees by spreading the taxable gain portion of the income payments over a longer time period.
For more information, please contact DPL at the number below.
About DPL Financial Partners
DPL Financial Partners is an RIA insurance network that brings low-cost, commission-free insurance solutions from a variety of the nation's top carriers to RIA practices. DPL insurance consultants are product and carrier agnostic. Our consultants work for RIAs, not an insurance carrier, and work to employ solutions that work to optimize financial outcomes for RIA clients. DPL offers a full suite of life and annuity products. www.dplfp.com
CONTACT: Greg Joslyn, The Lowe Group
greg.joslyn@lowecom.com
+1 (414) 322-9311
About Security Benefit
Security Benefit Life Insurance Company, a Kansas-based insurance company that has been in business for more than 127 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and held $38.5 billion in assets under management as of December 31, 2018. Security Benefit is one of the fastest growing U.S. retirement companies and continues its mission of helping Americans To and Through Retirement®. www.securitybenefit.com
1 DPL is paid an administration fee by the carrier for creating the infrastructure through which it makes policies available on behalf of the carrier for its RIA members. This infrastructure includes product education, licensing capabilities and the broker/dealer (for variable products).
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; and are unrelated to and not a condition of the provision or term of any banking service or activity.
The Security Benefit ClearLine Annuity, a fixed index single premium deferred annuity contract, In most states form ICC18 5500 (9-18), and the Rising Income Rider, In most states form ICC18 5520 (9-18), an optional rider for which a charge applies, are issued by Security Benefit Life Insurance Company. Product features, limitations and availability may vary by state.
DPL Financial Partners and Security Benefit Life Insurance Company are not affiliated.