Mony Life Insurance Company of America. (New Products and Services).
MONY MONY Mutual of New York (Insurance - Syracuse, NY) Life Insurance Company of America introduced two VA products. Its C 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. is sold with no front-end load Front-End Load
A commission or sales fee charged at the time of the initial purchase for an investment, usually mutual funds and insurance policies. It is deducted from the investment amount and thus, lowers the size of the investment. , no surrender charges and a minimum initial investment of $20,000. The L Variable Annuity has a four-year surrender charge that starts at 8% and a nonqualified minimum investment of $10,000.
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