Great American Life Introduces New Fixed Annuity Product to Respond to Current Market Volatility

CINCINNATI, Ohio, Jan. 23 -- The Great American Insurance Group, a property and casualty insurance company, issued the following news release:

Great American Life(R) is pleased to announce the availability of a new fixed annuity product. The American Freedom ClassicSM 3 is designed for consumers who are interested in greater liquidity and who want to grow their money without the worry of market volatility.

The new product offers a fixed interest rate that is guaranteed for an initial three-year term. At the end of the first term, consumers have the flexibility to surrender their contract without penalty, or begin a second term, during which a new interest rate is guaranteed for an additional three years.

According to Dave Mebius, Great American Life's National Accounts Director, the current market environment warrants the need for shorter-term solutions like the American Freedom Classic 3.

"Last year, the S&P 500 hit an all-time high and investors were faced with a flat yield curve. Couple that with the recent extreme market volatility, and you can understand why many consumers are looking for ways to protect their retirement savings. American Freedom Classic 3 brings a level of certainty to financial portfolios with predictable, guaranteed growth that is unaffected by market ups and downs."

Consistent with Great American Life's commitment to providing transparent products, the American Freedom Classic 3 offers several additional features to help consumers reach their financial goals:

* Safety of principal

* 10% penalty-free withdrawals beginning in the first contract year

* Tax-deferred earnings

* Opportunity to receive lifetime income

Great American Life Insurance Company(R) is a member of Great American Insurance Group(R) and is rated "A+" by Standard & Poor's and "A" (Excellent) by A.M. Best for financial strength and operating performance.

For more information about the American Freedom Classic 3, please contact Donna Carrelli, Divisional Vice President, Marketing Services, 513-412-1518 or [email protected].