January 14, 2025 Newswires

Delaware Life Announces Suite of Innovative Fixed Index Annuities

Business Wire

ZIONSVILLE, Ind.--(BUSINESS WIRE)--
Delaware Life Insurance Company, a Group 1001 company, announces three new innovative fixed index annuities (FIAs) – Momentum Growth™, Momentum Growth Plus™, and DualTrack Income™. These FIAs offer investors all the features and benefits of a traditional FIA with the flexibility to control and customize their risk while helping capitalize on positive equity markets to help them reach their retirement goals faster. They are available exclusively through Independent Marketing Organizations (IMOs).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250114118212/en/

Momentum Growth™ and Momentum Growth Plus™ (Graphic: Business Wire)

In today’s volatile markets, where investors grapple with uncertainty, diminished purchasing power from rising inflation, and fears of outliving their savings, Delaware Life designed these FIA products to help address clients’ evolving needs.

Momentum Growth™, Momentum Growth Plus™, and DualTrack Income™ offer real innovation in the traditionally stagnant world of FIAs, providing more attractive accumulation and income opportunities.

Momentum Growth™ allows clients to combine the power of enhanced growth potential, principal protection, and flexibility to help capitalize on positive market trends and accelerate savings growth. The unique VersaGain crediting feature allows clients to choose to protect the interest accrued over the previous term (100%, 50%, or 0% of interest) or reallocate some or all of it for higher cap rates and/or participation rates in the following year. Momentum Growth™ also offers Index Lock so clients can lock in index interest for any individual index, at any time during the year. This index lock feature can help clients secure gains to protect against potential market volatility.
Momentum Growth Plus™ offers the same features and benefits as Momentum Growth™, plus a 10% premium bonus for accelerated accumulation.
DualTrack Income™ features a Guaranteed Lifetime Withdrawal Benefit (GLWB) that offers the benefits of both performance-based and guaranteed growth, providing the best of both worlds by giving clients the greater of a 9% annual roll-up base and a 150% performance multiplier on earned interest. This approach helps ensure clients can enjoy the security of guaranteed income while still benefiting from market growth opportunities.

The FIA product suite also features advanced strategies and crediting options powered by indexes from Nasdaq, Barclays, and S&P, providing clients diverse opportunities for growth and financial security.

As the first provider to introduce an FIA* three decades ago, Delaware Life continues to innovate today. Momentum Growth™, Momentum Growth Plus™, and DualTrack Income™ demonstrate Delaware Life’s commitment to developing customizable, flexible products that respond directly to client needs in an evolving retirement landscape.

“Since our predecessor companies launched the first FIAs in 1995, and continued through today, Delaware Life is invested in supporting clients’ well-being,” said Robert Kelson, Delaware Life Co-Head of National Accounts, IMO Channel. “Our evolving and innovative industry-leading product suite is doing just that. We are also empowering financial professionals and clients with the products they need to navigate today’s uncertain economic environment and offer both growth and guaranteed income in retirement.”

For this product suite, Delaware Life collaborated with Genesis Development Group.

“Genesis helped Keyport Life launch the first FIA* nearly 30 years ago, so we are excited to announce a new collaboration with Delaware Life on the Momentum Growth™ line of products,” said Derek Ferguson, President, Genesis Financial Development, Inc. “With this new product suite, Genesis and Delaware Life continue their commitment to providing clients with innovative solutions for securing and growing their wealth.”

For more information about Momentum Growth™, Momentum Growth Plus™, and DualTrack Income™, click here and watch the video here.

*Launch of the Keyport KeyIndex fixed index annuity issued by Keyport Life Insurance Company on 2/25/95. Delaware Life acquired Sun Life Financial U.S. annuity business in 2013. Keyport Life Insurance was previously acquired by Sun Life Financial Inc. in 2001.

About Delaware Life Insurance Company

Delaware Life is an insurance and annuity company that empowers financial professionals with a wide array of customizable solutions. A subsidiary of Group 1001 Insurance Holdings, LLC (“Group 1001 Insurance”), our focus is to deliver a seamless experience for advisors. We understand how important it is to find the right fit for every client, every situation, and every individual need. We’re passionate about equipping you with annuities that give your customers peace of mind and a successful future—allowing them to plan with confidence for whatever’s next.

About Group 1001

Group 1001 Insurance is a collective that empowers companies to create positive growth. Our insurance and annuities are easy to understand and accessible to all. Our online investing platform gives individuals control over their savings. Our technology and innovation help companies succeed. And our strategic partnerships bring people together through education and sports.

As of September 30, 2024, Group 1001 Insurance had more than 1,500 employees and combined assets under management of $66.8 billion and provides over 496,000 active annuity contracts and life insurance policies. It comprises the following brands: Delaware Life, Gainbridge®, Clear Spring Life and Annuity Company, Clear Spring Property and Casualty Group, Clear Spring Health, and the RVI Group, among others.

About Genesis Development Group

Genesis Development Group’s mission is to create innovative financial products for their carrier partners to help Americans achieve their retirement goals. In 1995, we developed the first fixed indexed annuity in the United States. Since then, we have been granted 17 patents, and our carrier partners have sold more than $50 billion of Genesis-developed products.