New Fixed Annuity from Security Benefit Life Insurance Company Brings Flexibility to 403(B) Marketplace “Total Interest Annuity” Features Ability To Accept Continuing Contributions Topeka, KS, October 26, 2011 - Security Benefit Corporation, a Guggenheim Partners Company, today announced the launch of the Total Interest Annuity issued by its subsidiary Security Benefit Life Insurance Company (SBL), SBL’s first fixed annuity product designed to accept ongoing contributions for clients’ retirement savings. Built specifically for the 403(b) market, the Total Interest Annuity can be funded with contributions up to $16,500 annually or with IRA contributions or rollovers. The initial guaranteed crediting rate, which Security Benefit expects to be highly competitive, will be reset after 12 months and every year thereafter. SBL hopes to incentivize clients for early saving through an attractive initial guaranteed crediting rate, boosted by a 2% bonus on all contributions or transfers in the first contract year. “The Total Interest Annuity offers plan advisors a solution to help them with their clients’ concerns about market risk and volatility,” says Jim Mullery, President of Security Distributors, Inc., Security Benefit’s distribution company. “More importantly, launching this new-flow fixed product shows our commitment to the 403(b) space.” Security Benefit has $38 billion in total assets under management* and partners with 27,000 licensed and appointed financial planners and representatives through a network of 700 broker/dealers. The Kansas-based firm is a leading provider of retirement plan services for more than 200,000 accounts throughout the nation, primarily in the K-12 education marketplace. Last year, Security Benefit was purchased by a group of investors led by Guggenheim Partners, a privately held global financial services firm with more than $125 billion in assets under supervision. According to Mr. Mullery, the new Total Interest Annuity will benefit from Guggenheim’s well-regarded general account management capabilities. "Beyond the ability to take ongoing cash flows, I think the real story of the Total Interest Annuity will be its competitive rates and safety,” says Mr. Mullery. “In an environment marked by historically low returns and high volatility, Guggenheim’s superior fixed income capabilities will offer a way for us to be out in front of the crowd. It’s an attractive solution for conservative investors looking to avoid market risk.” According to the company, the Total Interest Annuity may be well suited for participants in the education arena who are conservative, have assets in retirement vehicles with significant market volatility, or are near retirement. Financial advisors can contact Security Benefit or a Security Benefit Regional Vice President for all related product materials, including a copy of the rates. *As of 12/31/2010 About Security Benefit Security Benefit, a Guggenheim Partners Company, is a leading provider of retirement plan
New Fixed Annuity from Security Benefit Life Insurance Company Brings Flexibility
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