North American and Annexus launch new fixed index annuity
North American Company for Life and Health Insurance, a member company of Sammons Financial Group and one of the largest issuers of fixed index annuities (FIAs) in the U.S.,1 has once again joined forces with Annexus, a premier independent designer of FIAs.
The new North American Secure HorizonSM Choice (Secure Horizon Choice) fixed index annuity offers shorter 5- and 7- year terms and is designed to help clients reach their financial goals by offering growth and protection for their retirement savings.
"Secure Horizon Choice is the next evolution in FIA design." – Ron Shurts, Annexus Co-Founder and CEO
In addition to an automatic and industry-first Performance Strategy Ladder created to provide enhanced growth opportunities, Secure Horizon Choice also offers an optional 4-in-1 Retirement Benefits Rider.2 Available for an additional cost, the 4-in-1 Retirement Benefits Rider helps address the primary risks clients may face in retirement–death, health impairment, longevity, and the possible reduction in benefits that the Social Security Administration projects may occur starting in 2034.3
"We are proud to continue working with Annexus, building on the success of North American Secure HorizonSM and North American Secure HorizonSM Plus FIAs," said Rob TeKolste, president, Sammons Independent Annuity Group. "Secure Horizon Choice is yet another innovative solution for financial professionals to expand their services and better meet clients' needs. In addition to helping clients grow and protect their savings, the optional 4-in-1 Retirement Benefits Rider available with Secure Horizon Choice enables them to prepare for the four common risks that may derail retirement plans."
"Annexus strives to provide our distribution partners with the most innovative solutions on the market," said Ron Shurts, Annexus Co-founder. "Secure Horizon Choice is precisely that— the next evolution in FIA design, providing a competitive growth opportunity that complements the Annexus portfolio of top-tier products. One of the most unique things about this new FIA suite is the option to elect the Retirement Benefits Rider which includes a groundbreaking Social Security reduction-triggered benefit and a two-of-six activities of daily living benefit. We're excited to extend our partnership with North American and PlanGap to bring this product to market nationally."
Advisors, Registered Investment Advisors (RIAs), and insurance professionals seeking access to this product should contact their Annexus-affiliated Independent Distribution Company. If you are a consumer interested in learning about Secure Horizon Choice, ask your financial professional for more information.
About North American Company for Life and Health Insurance
North American Company for Life and Health Insurance® is a member of Sammons® Financial Group, Inc. Since 1886, North American has established a tradition of providing quality insurance products to consumers throughout the U.S. We offer a comprehensive portfolio of term, universal life, and indexed universal life insurance products. North American also offers a wide variety of traditional fixed and fixed index annuities and consistently ranks among the top fixed index annuity carriers in the U.S. For more information, please visit here.
1Source: 3rd Quarter 2022 Wink's Sales & Market and LIMRA/Secure Retirement Institute reports.
2The Retirement Benefits Rider has an additional cost that is charged as a percentage of the Accumulation Value on each Contract anniversary.
3Source: The 2022 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.
Annexus designs solutions to help Americans grow and protect their retirement savings. For over a decade, Annexus has developed market-leading fixed index annuities and indexed universal life insurance products. Annexus has forged relationships with many of the industry's leading insurance carriers and the world's largest investment banks. Find out more about Annexus and its products at www.annexus.com.
Headquartered in Atlanta and founded in 2017, PlanGap is a product innovation company creating a suite of "trigger-based" annuity and life insurance products–retirement insurance–that solve previously unaddressed financial concerns for retirees. PlanGap, through its insurance carrier and distribution partners, empowers people to protect themselves against disruptions to their retirement income, providing solutions for those worried that institutions have made retirement promises they cannot, or will not, keep. Visit plangap.com for more information.