Waltham, MA, May 25, 2021 – Delaware Life Insurance Company has launched an innovative new variable annuity with riders that provide financial professionals and their clients with the choice to prioritize income or investment protection during the first 7 to 10 years of the contract, based on changing market conditions or personal circumstances.
The Delaware Life Accelerator Prime Variable Annuity combines the benefits of a traditional variable annuity including direct investments through investment fund options, tax-deferral, and the ability to convert savings into retirement income for life, with the flexibility of a range of riders that address individual client needs.
Among the choices offered is the industry’s first Guaranteed Market Protection Benefit (GMPB) rider in a variable annuity. The Armor Flex Seven and Armor Flex Ten riders give clients the ability to invest in the financial markets through a broad range of investment fund options with, depending on the rider, a 10% or 20% protection buffer against downturns over a 7 or 10-year period. The riders offer clients choice, transparency of investment performance, and the flexibility to access the account value and investment gains at any time, subject to the terms of the contract.
“Delaware Life has the product, investment expertise, and capacity to offer unique products that give financial professionals and their clients the flexibility they are looking for,” said Dale Uthoff, Senior Vice President, Variable Annuity Products, Delaware Life Insurance Company. “We have developed Accelerator Prime to provide financial professionals with a versatile and flexible solution to meet their clients’ income and protection needs.”
A comprehensive range of optional benefits provide significant investment freedom. The Income Boost Guaranteed Lifetime Withdrawal Benefit (GLWB) rider offers open architecture investment with 96 investment fund options, a 6% bonus rate over a 10-year period, and annual step-up potential. The Income Control GLWB rider offers higher income guarantees through a 7% bonus rate, attractive annual income factors, and unrestricted access to 25 investment fund options.
Clients also have the choice of a Guaranteed Minimum Accumulation Benefit (GMAB) rider, Armor Seven or Armor Ten, which provide downside protection by guaranteeing the contract value at the end of the term will never be less than either 95% or 105% of the initial principal, depending on the term chosen. As additional options, Accelerator Prime℠ offers return of premium and highest anniversary value death benefit riders.
“Providing income and protection options for the initial 7 or 10 years of a contract ensures that financial professionals and their clients can prioritize what’s important to them when it matters most,” added Tom Seitz, president, Delaware Life Marketing, LLC, a subsidiary of Group1001. “Accelerator Prime offers a valuable new investment option for client retirement portfolios with a path to generating lifetime income and the protection they seek to help ensure financial security.”
More information about Delaware Life Accelerator Prime, product riders and fees are available at: www.delawarelife.com.