American Life expands into Wyoming and Mississippi markets

American Life & Security Corp., a growing carrier in the annuity and retirement space, today announced it has expanded to Wyoming and Mississippi.

Residents in Wyoming will now have access to the full suite of flexible retirement income products, and Mississippi residents will have access to American Classic and American Select, with additional products to follow, the insurer said in a news release.

The launches represent American Life's fifth and sixth new states added over the past six months, following a series of recent launches in Alabama, New Hampshire, Washington and Alaska. American Life now operates in 31 states and the District of Columbia, underscoring the company's continued commitment to thoughtfully expanding access to its retirement income offerings.

"The addition of Mississippi and Wyoming represents another important milestone in building our national footprint, and we look forward to supporting more financial professionals with annuity products designed to help meet the financial security needs of residents in these states," said Tom Bumbolow, Head of Distribution and Business Development at American Life.

Wyoming is widely recognized as one of the most tax-advantaged states for retirees, with no state income tax and no taxation on Social Security benefits. According to the U.S. Census Bureau, nearly 20% of Wyoming's population is age 65 or older.

Mississippi also presents a meaningful opportunity to serve retirement-age residents, the release said. Approximately 18% of the state's population is age 65 or older, and the state also does not tax Social Security benefits or most retirement income, including pensions and retirement account distributions.

As retirement-age populations remain a meaningful segment of the state's residents, American Life said it is positioned to deliver products designed to help individuals secure reliable income in retirement nationwide.