Aviva MultiChoice Freedom Series Fixed Annuities

ATTENTION AGENTS!

A NEW Fixed Annuity Series with an Optional Guaranteed Lifetime Income Rider and Optional Death Benefit Rider

Lake Panorama, Iowa – December 2008 – Aviva announced today the release of the Aviva MultiChoice Freedom Series Fixed Annuities the newest members of Aviva’s MultiChoice Annuity product line.  This new fixed annuity series, available in select states, offers clients:

• Freedom from stock market fluctuations,
• Flexibility of withdrawals and income options,
• Functionality to transfer wealth, and the
• Financial strength & experience of Aviva Life & Annuity Company.

Freedom from stock market fluctuations
Aviva MultiChoice Freedom Series Fixed Annuities are flexible premium deferred annuities that offer a choice of three, five, seven, and ten-year products.  Two of the ten-year products provide a premium bonus: FreedomPlus provides a 5% premium bonus on all first and second year premiums, and FreedomXtra provides a 10% premium bonus on all first and second year premiums.

Rather than exposing retirement assets to market fluctuations, Freedom Series Annuities offer clients a guaranteed interest rate that will never be lower than the minimum guaranteed interest rate of 2%. Each Freedom Series Fixed Annuity offers a 1-Year Guaranteed Fixed Strategy and additional multi-year guarantee strategies. The strategies offer the consumer the freedom to choose a guaranteed interest rate, the number of contract years they want to guarantee it, and what portion of their dollars they want to allocate into each fixed crediting strategy. 

“In light of recent market volatility, many consumers are looking for a guaranteed fixed money savings alternative,” said Randy Timm, ChFC, CLU, Vice President, MultiChoice Marketing Group. “These new Aviva products get back to the basics of providing interest growth without stock market fluctuations, allowing accumulation with fixed interest rates, income planning with the income rider, and legacy asset transfer of dollars with a guaranteed death benefit rider.”

Flexibility of withdrawals and income options
Having the flexibility to take withdrawals and/or to receive regular income payments when your clients need it is important. Freedom Series Fixed Annuities provide excellent liquidity options including: 10% annual free withdrawals with checkbook access starting in Year 1; 20% free withdrawals in Year 2; and waivers for nursing home confinement, terminal illness, and home health care services – all with no age restrictions.

When LifetimePaySM Flex is added to one of the Freedom Series Fixed Annuities, it has the ability to provide clients with a stream of income for life without annuitizing the contract1. This new optional income rider guarantees 7.2% compound interest growth on the Income Account Value prior to rider withdrawals for the first 20 years of the contract. Using the “Rule of 72,” the Income Account Value can DOUBLE in 10 years and QUADRUPLE in 20 years! It is important to understand that the Income Account Value is not the same thing as the annuity’s Accumulated Value. It is not an account you can cash out. The 7.2% guarantee on the Income Account Value assumes no rider withdrawals. Rider withdrawals stop the 7.2% guaranteed growth.

With LifetimePaySM Flex, clients have the flexibility to decide when to start taking Lifetime Income Withdrawals with a choice of single or joint payout options. When the income stream is started, clients may also select a level payment or an optional Increasing Benefit Option. This benefit increases the Lifetime Income Withdrawal amount by 3% annually – helping the income payment keep up with the cost of living.2

If a client requires care in a nursing home, hospital, or hospice facility, they can access up to double their Lifetime Income Withdrawal amount to help with added expenses. This rider also offers the flexibility for beneficiaries to receive the Income Account Value over a 5-year period instead of taking the base contract death benefit. Aviva Life and Annuity Company is the first company to offer the 7.2% growth paid out over a 5-year period upon death. All these features give clients a wealth of flexibility with the LifetimePaySM Flex rider added to the Freedom Series Fixed Annuity.

Functionality to transfer wealth
A basic death benefit is included on every Freedom Series Fixed Annuity giving clients peace of mind that their beneficiaries will receive the full Accumulated Value of the contract in a lump sum upon death.

The Freedom Series offers additional death benefit options, including InsurePaySM. InsurePaySM is an optional rider that can provide an enhanced death benefit to clients, including a guaranteed death benefit floor. The rider’s death benefit is guaranteed to grow at 6% simple interest each year based on the amount of premium and premium bonus remaining in the annuity. This means that the longer the annuity is owned, the more the InsurePaySM death benefit can grow. This rider can be added to the annuity contract without any medical evidence of insurability, health questions, or exams. The surviving spouse also has the option to continuing the contract with this rider if he or she is listed as the sole primary beneficiary. Aviva Life and Annuity Company is one of the first companies in the nation to offer a guaranteed death benefit rider on a traditional fixed annuity. The functionality of the Freedom Series Fixed Annuity death benefit can provide security for heirs and the ability to transfer wealth – without qualifying for traditional life insurance.

Financial strength and experience of Aviva Life and Annuity Company
Aviva Life and Annuity Company has been recognized by independent insurance rating agencies with an A+ (Superior) rating from A.M. Best Company and an AA- (Very Strong) rating from Standard and Poor’s. Both of these ratings reflect the company’s financial strength and ability to meet obligations to contract holders. An A+ rating from the A.M. Best Company represents the second highest rating of Best’s 15 rating categories. The AA- rating from Standard and Poor’s represents the fourth highest of 24 rating categories. These ratings are a very important factor in today’s environment.

Complete information about the Freedom Series and other Aviva MultiChoice products is available at www.multichoiceannuity.com.

1 Availability of products, features, and benefits may vary by state and may contain additional restrictions or limitations. Please refer to the product disclosure or brochure for details.
2 The Increasing Benefit Option ceases when the Accumulated Value of the underlying annuity contract equals zero.

If you would like to learn more on this topic, or to schedule a possible interview with Randy Timm, please call Anne Steinhausen at 877-287-3644 or email [email protected].

For Agent Use Only.  13221 337518

For more information contact:
Randy Timm
MultiChoice Marketing Group
(877) 287-3644
Email: [email protected]