Americom Life Launches Spirit 7 Indexed Annuity.Business Editors BALTIMORE--(BUSINESS WIRE)--May 29, 2003 Americom Life & Annuity introduces its newest equity-indexed annuity equity-indexed annuity A contract with an insurance company that promises periodic payments keyed in a specified manner to a stock market index. Unlike variable annuities, equity-indexed annuities specify a guaranteed minimum return that is typically 3%. - Spirit 7. Spirit 7 is a flexible premium deferred indexed annuity that takes EIAs to the next level with a 7% Account Value Escalator. With the Account Value Escalator, an extra 7% interest is added to first-year premiums over a 7-year period. Like the premium itself, the additions are eligible for future index growth. "The Account Value Escalator is like having an annuity within an annuity that ensures steady growth," said Mike Ebmeier, vice president of Brokerage Annuity channel. "No matter what, the client receives annual additions equivalent to 7% of their initial premium if they stick with the policy. These annual additions create a rising foundation on which to build retirement savings." Spirit 7 includes: -- A choice of index returns linked to a formula based on the S&P 500(R) or the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. (SM) -- A fixed interest option with a competitive interest rate -- Surrender-charge-free annual withdrawals of up to 10% -- Minimum guaranteed earnings throughout the life of the annuity "Spirit 7 fits the needs of today's retirement savers," said Ebmeier. "They are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. guaranteed minimums, but want to have the flexibility to participate in any upswing potential in the market. Spirit 7 rewards policyholders who stay with the company for their contract term while taking advantage of potentially higher returns than traditional savings vehicles." Call 1-800-445-6758 for more information about Spirit 7 or any other of Americom Life's annuity or insurance products. About Americom Life Americom Life - headquartered in Baltimore, MD and domiciled in Houston, TX - is licensed in 43 states and in the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Americom Life is a member of the Old Mutual plc group of companies. Founded in 1845, the London-based Old Mutual has approximately 4 million life assurance policyholders, 3.6 million banking customers and, 600,000 short-term insurance policyholders worldwide. Old Mutual's primary listing is on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. (LSE LSE - Language Sensitive Editor :OML OML Object Manipulation Language (ODMG) OML Ordinary Maternity Leave (UK) OML Order of Merit List OML Orquestra Metropolitana de Lisboa (Portugese) OML Oil Mining License ) and they rank as a Fortune Global 500 company and FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. 100 financial services group. "Standard & Poor's(R)", "S&P(R)", "S&P 500(R)", "Standard & Poor's 500" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Americom Life & Annuity Insurance Company. The Product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the Product. "Dow Jones", "Dow Jones Industrial Average(SM)" and "DJIA DJIA See Dow Jones Industrial Averager (DJIA). (SM)" are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by Americom Life & Annuity Insurance Company. Americom Life's Spirit 7(SM) is based on the Dow Jones Industrial Average(SM), is not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of investing in such product(s). |
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