MONY Adds 11 New Investment Choices to its Variable Annuity Product.NEW YORK--(BUSINESS WIRE)--July 28, 1999-- New Offerings Provide More Options for Customers MONY MONY Mutual of New York (Insurance - Syracuse, NY) Life Insurance Company of America, a subsidiary of The MONY Group Inc., has added 11 new subaccounts to its MONY Custom Master flexible payment 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. (FPVA) product. This major product enhancement adds new subaccounts which purchase shares in additional large-cap and mid-cap value, blend and growth funds, as classified by Morningstar, Inc., an independent investment information and services company. Effective July 15, customers now have 26 allocation choices for their variable annuity funds within general risk categories. Working with a registered representative to identify their personal investment needs and objectives, customers can select from a greater array of subaccounts. The MONY Custom Master is a flexible payment variable annuity designed for people who are focused on long-term investment objectives and is typically suited for individuals interested in supplementing other retirement programs. The product has a guaranteed death benefit. "We feel that these additional investment choices make the MONY Custom Master an even more diverse and competitive product," said Richard E. Connors, senior vice president, marketing. "With 25 subaccounts and the Guaranteed Interest Account option, this variable annuity product now provides our customers with greater flexibility for creating a customized financial strategy." Two of the subaccounts being added to the MONY Custom Master (FPVA) product purchase shares of growth funds advised by Enterprise Capital Management Inc. The first of these two Enterprise subaccounts is the Enterprise Balanced Subaccount, which purchases shares of the Enterprise Accumulation Trust An arrangement whereby property is transferred by its owner—the settlor—with the intention that it be administered by someone else—a trustee—for another person's benefit, with the direction that the trustee gather, rather than distribute, the income of the Balanced Portfolio and seeks long-term total return. The second is the Enterprise Multi-Cap Growth Subaccount. This subaccount purchases shares of the Enterprise Accumulation Trust Multi-Cap Growth Portfolio, which seeks long-term capital appreciation by primarily investing in growth stocks. Enterprise Capital Management Inc. is also the registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in for The Enterprise Group of Funds group of funds See family of funds. and is a subsidiary of The MONY Group Inc. Enterprise's different investment portfolios are managed by separate, independent asset management firms This is a list of corporations that provide financial asset management.
The other nine additional subaccounts purchase shares of funds managed by Fidelity Management & Research Company, Janus Capital Corporation and The Dreyfus Corporation. The 11 new subaccounts purchase shares in the following funds: -- GROWTH funds (as currently classified according to Morningstar, Inc.) include the following: Enterprise Balanced (also categorized as an Intermediate Fixed Income fund), Enterprise Multi-Cap Growth, Fidelity VIP II Contrafund, Fidelity VIP Growth, Janus Aspen Series Capital Appreciation, Janus Aspen Series Worldwide Growth, Janus Aspen Series Balanced, Janus Aspen Series Aggressive Growth and The Dreyfus Socially Responsible Growth -- BLEND funds include: Dreyfus Stock Index -- VALUE funds include: Fidelity VIP III Growth Opportunities The MONY Custom Master FPVA is issued by MONY Life Insurance Company of America (MLOA MLOA Mortgage Loan Origination Agreement MLOA Medical Leave Of Absence MLOA Manitoba Lodges and Outfitters Association (Canada) MLOA Mount Laguna Observatory Associates (San Diego State University) ), a stock life insurer domiciled in Arizona that issues variable and other insurance products outside of New York State. Distributed by: MONY Securities Corporation, a member of The MONY Group, Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . The MONY Group Inc. (NYSE NYSE See: New York Stock Exchange : MNY MNY Microsoft Money (file extension) MNY Manhattan New York ) is the holding company for the member companies of The MONY Group, which provide financial protection and asset accumulation products and services. Its principal subsidiary, MONY Life Insurance Company, founded in 1842 as The Mutual Life Insurance Company of New York, issued the first mutual life insurance policy in the United States in 1843. Visit The MONY Group on the Internet at www.mony.com. |
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