TOPEKA, Kan., May 1, 2014 (GLOBE NEWSWIRE) -- Security Benefit Corporation, a leader in the U.S. retirement market, today announced a major expansion of its underlying investment lineup within the SecureDesigns® and EliteDesigns® suite of variable annuities.
"Enhancing the breadth of our product selection by adding 67 underlying funds to our flagship variable annuities provides advisors even more resources to help their clients manage rising taxes and market volatility. We've listened to our advisors and are pleased to add tactically managed funds, "single-CUSIP®" solutions and additional global options to their existing toolset," said Doug Wolff, President, Security Benefit Life Insurance Company (SBL), Topeka, Kansas.
The SecureDesigns style boxes now have more depth with the addition of industry heavyweights AllianceBernstein, American Funds®, BlackRock®, Ibbotson, Ivy Funds®, JPMorgan, Lord Abbett® and Putnam. The SecureDesigns product provides a low-cost option with 24 asset managers across 36 Morningstar® categories.
New fund partners within the EliteDesigns variable annuities include American Funds®, Eaton Vance and SEI. The addition of these key fund partners and 30 new underlying funds bring the total investments within EliteDesigns to 305. EliteDesigns now provides advisors and their clients a choice of 42 nationally known asset managers across 50 Morningstar categories.
American Funds, a well-known name to consumers and a mainstay in many advisors' practices, will be new to both products with 13 funds available on both platforms. "We're proud to be working with Security Benefit and to have our funds included inside these two products," said Jon O'Flynn, Vice President and Senior Business Development Manager at American Funds. "We believe that policyholders will benefit from our funds, which are designed to provide consistent results, value and diversification."
EliteDesigns combines tax deferral with a fee structure below the average variable annuity with no surrender charges, redemption fees or trading limits (trading rules apply to certain subaccounts). SecureDesigns is a low-cost VA that offers accumulation opportunities in one platform, including a standard guaranteed death benefit and multiple commission options.
"Given the current market environment, advisors and consumers alike demand diverse investment options at highly competitive rates. We believe the addition of progressive investment strategies will help advisors and clients manage risk while remaining invested," added Wolff.
More information about EliteDesigns and SecureDesigns can be found at www.securitybenefit.com.
You should carefully consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options before investing. You may obtain a prospectus for the variable annuity and prospectuses or summary prospectuses (if available) for the underlying investment options by calling our Service Center at 1-800-888-2461. You should read the prospectuses carefully before investing. Investing in variable annuities involves risk and there is no guarantee of investment results.
Investing in a variable annuity through a tax-qualified contract such as an IRA offers no additional tax benefit. Security Benefit does not offer investment advice or tax-benefit advice. Annuities are long-term investments, suitable for retirement investing. The investment return and principal value of an investment in a variable annuity will fluctuate and you may have a gain or loss at redemption.
In all states except New York, the SecureDesigns, EliteDesigns & EliteDesigns II variable annuities (form V6029) are flexible purchase payment deferred variable annuities issued by SBL. Variable annuities are distributed by Security Distributors, Inc. (SDI). SBL is not authorized in the state of New York and does not transact the business of insurance in the state of New York. SDI is a wholly-owned subsidiary of SBL and SBL is a wholly owned subsidiary of Security Benefit Corporation ("Security Benefit"). SecureDesigns, EliteDesigns and EliteDesigns II may not be available in all states. The obligations under the variable annuities are solely those of the issuing Insurers.
- NOT A DEPOSIT
- NOT FDIC INSURED
- NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- NOT GUARANTEED BY ANY BANK - MAY GO DOWN IN VALUE
About Security Benefit
Security Benefit is a 122-year-old, Kansas-based insurance company, which in recent years has become one of the fastest growing companies in the U.S. retirement market. Through a combination of innovative products, exceptional investment management and a unique distribution strategy, we have become a leader in a full range of retirement markets and wealth segments. To learn more about Security Benefit, visit www.securitybenefit.com.
CONTACT: For more information, please contact: Peter MacKellar, Communications Strategy Group 303.433.7020 firstname.lastname@example.org Dave Clauson, Security Benefit Corporation 785.438.3035 email@example.com 99-00473-54 (2014-05-01)
Source: Security Benefit