AnnuityNet.com Site Adds Rydex Funds to Its Lineup.Keyport Life Insurance Co., Boston, has filed a registration statement to add a variable-annuity product that uses the Rydex mutual funds to the AnnuityNet.com e-commerce storefront. The Rydex Variable Annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. targets long-term investors Long-term investor A person who makes investments for a period of at least five years in order to finance his or her long-term goals. who are actively involved in watching the market with the intent of capitalizing on market changes, said Shane Chalke, creator and president of AnnuityNet.com, Leesburg, Va. The annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. allows investors to make unlimited transfers among its subaccounts. The Rydex annuity joins the Stein Roe Annuity from Keyport Life Insurance Co. and the eAnnuity from Lincoln National Life Insurance Co. at AnnuityNet.com, which Chalke launched more than a year ago with Lincoln National. AnnuityNet.com passes on the expense savings it experiences by selling directly to the public. Mortality and expense fees are 0.55% for the eAnnuity and 0.65% for the Stein Roe Annuity. Those charges are about half the average for variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. . AnnuityNet.com soon will make the Rydex annuity and other investment products available to fee-based financial planners Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. through a customized online platform. |
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