Clicky

INN Blog

More Posts
 

Legacy Launches Legendmark℠ Series Of Annuities


Choice of crediting options, unique GMWB rider, and up to 10% bonus offer exceptional growth and income opportunities

PETALUMA, CA, March 17, 2014—Legacy Marketing Group® is excited to announce the launch of LegendMark Series flexible premium deferred fixed indexed annuities issued by Fidelity & Guaranty Life Insurance Company. Designed for consumers seeking exceptional growth and income opportunities, LegendMark offers optional fee indexed crediting options with considerably higher caps than those on no-fee crediting options and a unique guaranteed minimum withdrawal benefit (GMWB) rider that allows consumers to leverage their annuity’s growth.

“This product series is unlike any we have ever offered,” said Legacy President, Preston Pitts. “With LegendMark, consumers don’t have to forfeit minimum guarantees for the opportunity to achieve exceptional growth and income.”

The ability to allocate premium to indexed crediting options that charge a small annual fee (currently 1.00%) allows consumers to receive a higher cap and greater accumulation potential than is available with the no-fee crediting options. Consumers have the flexibility to split premium between the fee and no-fee indexed crediting options and a fixed rate crediting option and move premium to or from these options at the end of the interest crediting period. “With this structure, consumers can truly get what they pay for,” added Mr. Pitts.

This strong growth potential coupled with an Income Base that can grow with the annuity’s performance provides a truly unique and powerful income opportunity. As its name implies, the Income XL RiderSM GMWB rider provides the potential for larger payouts for an annual rider charge of only 0.70%. The Income Base is determined in part by multiplying the exceptional earnings/gains by 1 plus a Performance Multiplier of up to 50%.

Fourteen- and 10-year versions of LegendMark are available, with or without a vesting premium bonus of up to 10% on the 14-year product or up to 7% on the 10-year products. Consumers who choose a bonus product automatically get an enhanced package that, in addition to the bonus, includes the Income XL Rider and access to the fee and no-fee indexed crediting options. Although no-bonus LegendMark products do not offer the Income XL Rider, clients will have access to the fee and no-fee indexed crediting options.

LegendMark, available to clients through age 85, also offers “checkbook” access; liquidity riders for nursing home confinement, terminal illness, and home health care; and index gains that vest to date of death. Agents are rewarded with up to 7.50% GA-level commission.

This new product series is offered exclusively through agents contracted with Legacy and is currently available in most states.

About Legacy Marketing Group®

Legacy Marketing Group partners with respected insurance companies to design and market innovative products for the U.S. fixed annuity and life insurance market. These products are sold exclusively through Legacy’s nationwide network of independent insurance agents.

Media Contact:
Legacy Marketing Group
Diane Shemi, Director of Marketing, 800-395-1053, Ext. 5838
diane.shemi@legacynet.com


LegendMark flexible premium deferred fixed indexed annuities are issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA; products are distributed by Legacy Marketing Group®. Subject to state availability. Certain restrictions may apply. Refer to contract, Earnings Rate Update, sales guide, Compensation Schedule, and State Approval Matrix for details. Policy Form Nos: ACI-1018(06-11); API-1018(06-11), Rider Endorsement No.: ARI-1064(11-13).

*The roll-up and performance multiplier amounts are current guaranteed rates. Fidelity & Guaranty Life reserves the right to lower rates for future sales of Income XL Rider to not less than a minimum guaranteed rate of 2%.

FG1725v1013
13-823

 



USER COMMENTS:


  More Press Releases

More Press Releases >>
  Most Popular Press Releases

More Popular Press Releases >>
Hot Off the Wires  Hot off the Wires

More Hot News >>

insider icon Denotes premium content. Learn more about becoming an Insider here.