Global Atlantic Launches Lifetime Builder Elite, Raising the Bar on Indexed Universal Life

Insurance Weekly News

By a News Reporter-Staff News Editor at Insurance Weekly News -- Global Atlantic Financial Group, a company focused on the U.S. retirement and life insurance markets, recently announced the launch of Lifetime Builder Elite, a new flagship accumulation-oriented indexed universal life insurance (IUL) policy. Lifetime Builder Elite offers policyholders a compelling, industry-first loan option, as well as pricing enhancements and greater flexibility, improving upon one of the industry's best-selling designs.1 "We looked at the marketplace and asked what it would take to deliver an elite indexed universal life product," said David Wilken, President of the life insurance business at Global Atlantic. "With its innovative feature set and top-tier pricing, Lifetime Builder Elite is our answer."

A new Linked Loan option leads Lifetime Builder Elite's feature enhancements. Loan interest linked to index performance gives clients the potential to earn more interest than is charged while limiting the net cost to a maximum of 2%.

"Linked Loans carry on our heritage as an IUL innovator. Customers no longer have to choose exclusively between the downside protection of a fixed loan and upside potential of variable loan for their borrowed funds," Wilken says. "A Linked Loan provides elements of both."

Other enhancements include a 1% guaranteed account value enhancement starting in policy year five, as well as the ability to transfer between interest crediting strategies on crediting dates rather than just upon termination of an index segment period.

Lifetime Builder Elite is issued by Accordia Life and Annuity Company, a subsidiary of Global Atlantic Financial Group. The product is available in most states through licensed independent life insurance agents. About Global Atlantic Financial Group Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help our customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs.

Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent company in 2013. Its success is driven by a unique heritage that combines deep product and distribution knowledge with leading investment and risk management capabilities, alongside a strong financial foundation. 1 Based on Wink Sales and Market Reports, 1998-2016

Global Atlantic Financial Group (Global Atlantic) is the marketing name for Global Atlantic Financial Group Limited and its subsidiaries, including Accordia Life and Annuity Company, Commonwealth Annuity and Life Insurance Company, Forethought Life Insurance Company and Global Atlantic Re Limited. Each subsidiary is responsible for its own financial and contractual obligations.

Life Insurance is issued by Accordia Life and Annuity Company, 215 10th St, Des Moines, Iowa; and preneed life insurance is issued by Forethought Life Insurance Company. View source version on businesswire.com: http://www.businesswire.com/news/home/20171127005626/en/

Keywords for this news article include: Insurance Companies, Global Atlantic Financial Group.