SBLI USA Mutual Life Insurance Company, Inc. Launches Select Choice; A New Tax-Deferred Single Premium Annuity Provides Flexibility and Security to Help Plan for Retirement.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- SBLI SBLI Savings Bank Life Insurance SBLI Stressed But Loving It (UK youth musical theatre society) USA Mutual Life Insurance Company, Inc. today announced the introduction of Select Choice(SM), a single-premium, tax-deferred annuity tax-deferred annuity See tax-sheltered annuity (TSA). . The annuity comes with an initial one year interest rate guarantee, plus additional one year renewal rates at the end of subsequent guarantee periods -- never going below the annual rate of three percent -- to help investors' money grow. The annuity is the most recent in a series of products from SBLI USA that help people plan for their financial futures financial futures Obligations to buy or sell particular positions in financial instruments. The features of financial futures are identical to those of any futures contract except that the asset for delivery is of a financial nature. . Select Choice(SM) offers competitive rates and flexibility backed by the financial strength and stability of SBLI USA. Other well-known products available from SBLI USA include term life, whole life, and products for children and seniors. The annuity is available directly through SBLI USA's partner banks and its toll free number, 1-877-SBLI-USA. Currently, it is offered only in New York. "Annuities are an excellent option for retirement savings," said M. Nasim Ali, executive vice president, marketing and sales at SBLI USA Mutual Life Insurance Company, Inc. "By providing attractive interest rates and deferral of income tax on interest earnings, they make your money work harder for you during the years you need it most. In addition, annuities are safe. The safety of the principal is backed by the financial strength and stability of SBLI USA, a trusted name in the insurance industry." Customers' principal is guaranteed by the strength and stability of SBLI USA, which maintains an "excellent" (A-) rating from A.M. Best, an independent rating service. Select Choice(SM) is available to anyone up to the age of 85. Purchases are easy with no sales or administrative charges. The minimum investment is $5,000 and the maximum is unlimited, with company approval if the purchase is more than $200,000. Summary of Benefits --Competitive Rates: first year interest rate is guaranteed. At the end of each guarantee period a new interest rate is set. The interest rate will never be less than an annual effective interest rate of three percent for the life of the annuity. --Access: withdrawals of up to ten percent can be made once each contract year without surrender charges Surrender Charge A fee levied on a life insurance policyholder upon cancellation of his or her life insurance policy. The fee is used to cover the costs of keeping the insurance policy on the insurance provider's books. . (Note: if more than one withdrawal per contract year or over ten percent of the accumulated value is withdrawn, surrender charges will be deducted during the first seven contract years only. Additional administrative fees may apply. Withdrawals may be taxable transactions and, prior to age 59 1/2 may be subject to a ten percent IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. penalty.) --Safety of Funds: as long as there are no partial withdrawals, investors will never receive less than the original principal, less any premium taxes; --Avoidance of Probate probate (prō`bāt), in law, the certification by a court that a will is valid. Probate, which is governed by various statutes in the several states of the United States, is required before the will can take effect. : if an owner dies before annuitization, the annuity value is paid to the beneficiary directly without the delay and expense of probate. Interested purchasers should contact SBLI USA at 1-877-SBLI-USA or visit the company's Web site at www.sbliusa.com for more complete information. About SBLI USA SBLI USA Mutual Life Insurance Company, Inc. is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that is committed to value-conscious consumers. The company is dedicated to building lifelong relationships with customers and empowering them with the education and tools they need to take control of their financial destinies. SBLI USA and its subsidiaries are licensed in 49 states, 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). , the U.S. Virgin Islands and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . With more than $17 billion of insurance in force, $1.5 billion in assets, $120 million in surplus capital, 250 employees and over 400,000 customers, the Company is committed to offering affordable, flexible and easy-to-access products through a variety of integrated channels, including direct mail, telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. , a bilingual Web site, licensed agents, and new Customer Centers, as it expands nationally. SBLI USA Mutual Life Insurance Company, Inc. is the parent company to SBLI USA Holdings, Inc., which owns subsidiary companies S.USA Life Insurance Company, Inc., and SBLI USA Diversified Services Company, Inc. Additional information about SBLI USA products and services can be found at www.sbliusa.com/mc. |
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