The Standard has expanded its annuity offerings with the new Enhanced Choice Index (ECI), recognizing a growing demand for more flexible and adaptable solutions for clients. The ECI is a single-premium deferred index annuity with four different index interest crediting schemes to help you maximize your growth potential. “For the first time, The Standard can offer volatility-controlled indexes and an expanded participation rate feature,” said Rich Lane, The Standard’s vice president of Individual Annuity sales and marketing. “We’re especially proud to be the first annuity to provide the S&P 500 ESG Daily Risk Control 5 percent Excess Return Index, which corresponds with the ideals of socially conscious clients.” The four index-crediting strategies are as follows:
- S&P MARC 5% Excess Return Index (Ticker: SPMARC5P)
- S&P 500® Index (Ticker: SPX)
- S&P 500 Daily Risk Control Excess Return Index (Ticker: SPXT5UE)
- S&P 500 ESG Daily Risk Control Excess Return Index of 5% (Ticker: SPXESU5E)
ECI policyholders will earn interest depending on the participation rate, a percentage of the index’s annual growth. For a price, policyholders can get an improved index participation rate, which means the annuity fund has a better chance of growing faster. The participation rates for the five and seven-year variants of the ECI will come with a maximum guarantee for the entire duration, with the exception of the S&P 500 Index strategy. The ten-year version’s participation rates will be refreshed on an annual basis. Advantages of the standard ECI The Standard’s ECI offers several advantages, including tax-deferred growth and five, seven, or ten-year terms. The Guaranteed Minimum Accumulation Benefit, which ensures 100% of the original premium at the end of the surrender charge period minus any withdrawals and surrender costs, alleviates consumer concerns about fees. Alan Assner, the Standard’s vice president of Individual Annuities, says, “The ECI’s diversity of index-crediting schemes will benefit customers and partners alike… With our competitive fixed-rate solutions and streamlined fixed-index products, we are proud of our position as a top-tier annuity supplier… Across all of our distribution channels, we anticipate the ECI will appeal to a broader range of clients, national marketing offices, and producers.” The Standard has a long history of providing consumer-friendly annuity products and services, all of which are backed by The Standard’s financial strength, as evidenced by more than 100 years of A.M. Best Company’s “A” rating or higher. Don’t hesitate to contact The Standard at 800-378-4578 or visit standard.com/annuities for further information. About the Standard The Standard is a group of businesses committed to assisting consumers in achieving financial security and peace of mind. They are a leading provider of financial protection products and services for employers and individuals, having been in business since 1906. They offer group life, group, and individual disability insurance, voluntary (employee-paid) benefits, dental and vision insurance, and retirement plans and annuities for organizations and people.
Contact Information:
Email: [email protected]
Phone: 8139269909
Bio:
For over 30-years Flavio “Joe” Carreno of The Retirement Advantage has been a Federal Employee Retirement System specialist (FERS) as well as a Florida Retirement System specialist (FRS) independent advocate. An affiliate of PSRE (Public Sector Retirement Educators), a Federal Contractor & Registered Vendor to the Federal Government, also an affiliate of TSP Withdrawal Consultants. We will help you understand your FERS & FRS Benefits, TSP & Florida D.R.O.P. withdrawal options in detail while recognizing & maximizing all concurrent alternatives available.Our primary goal is to guide you into retirement with no regrets; safe, predictable, stable, for life. We look forward to visiting with you.
Disclosure:
Not affiliated with the U.S. Federal Government, the State of Florida, or any government agency. The firm is not engaged in the practice of law or accounting. Always consult an attorney or tax professional regarding your specific legal or tax situation. Although we make great efforts to ensure the accuracy of the information contained herein we cannot guarantee all information is correct. Any comments regarding guarantees, safe and secure investments & guaranteed income streams or similar refer only to fixed insurance and annuity products. Fixed insurance and annuity product guarantees are subject to the claimsâ€paying ability of the issuing company. Annuities are long-term products of the insurance industry designed for retirement income. They contain some limitations, including possible withdrawal charges and a market value adjustment that could affect contract values. Annuities are not FDIC insured.
