Security Benefit Introduces Foundations Annuity [Professional Services Close – Up]

Security Benefit Corp., a provider of retirement savings and income vehicles for America's pre- and post-retirees, introduced Foundations Annuity, a next-generation fixed indexed annuity.

"In this market environment, where future risks to retirees' already damaged capital are as great as they have ever been, FIAs may be a compelling choice," said Doug Wolff, President of Security Benefit Life Insurance Company, in a release. "Combining Foundations Annuity and its leading-edge design with traditional drawdown strategies may greatly enhance the likelihood of generating a steady stream of income retirees cannot outlive."

Foundations Annuity also offers an optional GLWB Rider.

"Simplicity, transparency in product structure, and reasonable expenses are critical to helping clients understand and embrace solutions to the retirement income challenge," said Wolff. "We have built these into Foundations Annuity and think it will be the go-to product for financial advisers and their retirement-oriented clients."

Security Benefit will issue the new FIA through its Security Benefit Life Insurance Company subsidiary.

Security Benefit is indirectly controlled by Guggenheim Partners.

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