Great American Life has launched two new fixed-indexed annuity products. The American Landmark 3, available in the Retail channel, and AssuranceSelect® 3 Plus, available in the Financial Institutions channel, which offer indexed strategies linked to well-known indexes and ETFs, including the S&P 500, iShares US Real Estate ETF, and iShares MSCI EAFE ETF.
These new products provide upside potential in diverse markets with complete protection against market loss. Additionally, the American Landmark 3 and AssuranceSelect 3 Plus issue up to age 90, giving older clients a safe vehicle for growth, which may be attractive for those planning to leave a legacy for their loved ones.
According to Joe Maringer, National Sales Vice President, Great American Life, the current market environment highlights the need for solutions like these.
“Our goal is to offer our distribution partners and consumers products that best fit the current economic environment,” he says. “Between recent market volatility and the yield curve inverting for the first time since 2007, we believe these products are timely solutions for consumers seeking growth potential along with protection from market swings.
“As the only three-year fixed-indexed annuities available today, these products give consumers the flexibility to walk away after three years without penalty should their needs or market conditions change. This increased flexibility is part of our ongoing commitment to keeping things simple with transparent products that help our contract owners achieve their goals with no surprises.”