F&G Life Adds Annuities to 403(b) Line.Fidelity & Guaranty Life Insurance Co., Baltimore, has launched TSA TSA See tax-sheltered annuity (TSA). 2000, a portfolio of products for employees in the 403(b) marketplace. The portfolio includes two equity-indexed annuities, a fixed annuity Fixed Annuity An insurance contract in which the insurance company makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principal. designed to accept rollovers, a fixed annuity to manage minimum required distributions, and a simplified-issue one-year renewable term life insurance Renewable term life insurance A policy for a stated period that may be renewed if desired at the end of the term. policy. F&G said it believes this is the first time that equity-indexed annuities are being offered within 403(b) plans. Consumers in the 403(b) market-place are employees of public schools, churches, hospitals and nonprofit organizations. Life Flex 500 is a flexible-premium deferred equity-index annuity designed for funding through salary reduction. It credits interest based on a formula linked to the S&P 500 Index. A portability rider provides a 5% bonus for contracts reinstated within six months of a change in employment. Life 500, a single-premium deferred annuity Single-Premium Deferred Annuity (SPDA) An IRA-like annuity into which an investor makes a lump-sum payment that is invested in either a fixed-return instrument or a variable-return portfolio, which is taxed only when distributions are taken. with three interest-crediting options, is a rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover. product designed for asset maximization. Its equity-index option is linked to the S&P 500 Index. Its interest index offers an extra 2% interest in the first year, while its fixed interest guarantees the interest rate for four years. |
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