American National
American National Insurance Company announces a new product, the Signature Indexed Universal Life Insurance (IUL) policy, available as of July 1, 2014. This innovative life product provides death benefit protection and three indexed crediting strategies along with a fixed account strategy for clients to choose from.
Signature IUL can provide the opportunity to earn interest based upon the performance of the S&P 500 index without the client being directly invested in the index. Therefore, the accumulation value will never decrease based on the fluctuations of the S&P 500 index, as all three of the indexed interest crediting strategies have a built-in floor. One of the indexed strategies currently has a declared floor of 1.5 percent, so that strategy can earn interest even in the event of a decrease in the market.*
Signature IUL will provide clients the permanent protection their families need with the opportunity to increase accumulation value for future emergencies, college education or supplemental retirement income.
This product also includes, at no additional premium, three living benefits covering 16 critical illnesses as well as chronic and terminal illness in the form of accelerated benefit riders. In the event of a qualifying illness, the policyowner may choose between partial or full death benefit acceleration. In order to accelerate the death benefit, the benefit is reduced by an actuarial discount in addition to a small administrative fee (up to $500).
David A. Behrens, executive vice president of American National Insurance Company, stated, “American National’s new Signature IUL builds upon the tested concepts of our previous indexed products to create a competitive second generation IUL with more options for clients and partial living benefit accelerations. Signature IUL allows a client to have control over the placement of their premium in the various indexed strategies or a fixed account while guaranteeing their family’s future will be protected.”
American National Insurance Company (American National), headquartered in Galveston, TX, was founded in 1905 and is licensed to conduct the business of insurance in all states except New York. American National is also a family of companies and offers a broad line of products and services which include life insurance, annuities, health insurance, credit insurance, pension products and property and casualty insurance for personal lines, agribusiness and certain commercial exposures. The family of companies operates in all 50 states.
*From policy month to policy month the accumulation value may decrease due to the monthly deduction regardless of the interest rate credited for any particular strategy.
