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Article: Security Mutual Life Insurance Company of New York Introduces New Immediate Annuity Product with Liquidity Features.
- Article from:
- Insurance Weekly News
- Article date:
- November 13, 2009
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Security Mutual Life announces the introduction of a new retirement income product: an immediate annuity contract. The product provides a guaranteed lifetime income to the purchaser and comes at a time when more and more baby boomers are looking to protect a level of retirement cash flow from possible stock market declines.
The Security Mutual immediate annuity offers a unique array of liquidity options that allows the annuitant to receive unscheduled lump sum payments from the contract. Traditional immediate annuities do not offer liquidity features, which has deterred many annuity candidates from seriously considering the product.
These new liquidity ...