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Next-Generation Variable Annuity Features Flexible, Tax-Efficient Approach to Build Retirement Savings

TOPEKA, Kan., July 17, 2013 (GLOBE NEWSWIRE) -- Security Benefit, a leading provider of retirement savings and income solutions, today announced the introduction of EliteDesigns® II, the second product in its EliteDesigns series of next-generation variable annuities.

EliteDesigns II, which combines 280 investment options within a tax-deferred insurance product, is available nationwide for Independent Broker-Dealers and registered representatives.

"EliteDesigns II was created to help investors better meet the challenge of asset accumulation in light of market volatility and higher taxes," said Doug Wolff, President, Security Benefit Life.

"The wide array of investment options from 39 highly respected asset managers provides a flexible tool set for helping to manage stock-market volatility and rebuilding retirement savings without exposing investment earnings to new and higher federal taxes on investment income," Wolff said.

In addition to traditional stock and international portfolios, the EliteDesigns II investment platform includes more than 60 alternative strategies and more than 50 fixed income strategies to help manage market volatility.

The diversity of portfolios is designed to help investors mirror the risk-reward profiles of their taxable investment strategies, from passive buy-and-hold to aggressive tactical approaches, in a tax-deferred platform.

Consistent with the simplified fee structure and cost-efficiency that are the core features of the EliteDesigns series, no trading limits or redemption fees are imposed on a large number of the portfolios that are geared for actively managed strategies. There are also no surrender or withdrawal charges or annual policy fees, resulting in a competitive product offering to help clients manage their tax burdens on investment income.

"Our goal is to provide solid, compelling and easily understood options for growing retirement savings," said Wolff. "EliteDesigns II is a powerful offering for the Independent Broker-Dealer space and helps make it easier for investors to pursue long-term investment goals through individually tailored solutions with the help of their financial advisors."

Complete details, including information on the many investment options from leading asset managers, can be found online at www.elitedesignsII.com.

About Security Benefit Life

Security Benefit is a 121 year old, Kansas based retirement company which in recent years has become one of the fastest growing retirement savings and income companies in the industry. 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. Security Benefit is indirectly controlled by Guggenheim Partners, LLC. To learn more about Security Benefit, visit www.securitybenefit.com.

Annuities are long-term investments suitable for retirement investing.

You should consider the investment objectives, risks, and charges and expenses of the investment options available under the Variable Annuity carefully before investing. You may obtain a prospectus that contains this and other information about the investment options or Variable Annuity by calling our Service Center at 1-800-888-2461. You should read the prospectus carefully before investing. Investing in variable annuities involves risk and there is no guarantee of investment results.

It is important to note that while taxes on amounts invested in a variable annuity are deferred until withdrawn, withdrawals are subject to ordinary income tax and, if made prior to age 59½, may be subject to a 10% IRS penalty tax. Conversely, earnings from investments that do not offer tax deferral are taxed currently, and withdrawals from such an investment are not subject to the penalty tax.

In all states except New York, the EliteDesigns II Variable Annuity (form V6029) is a flexible purchase payment deferred variable annuity issued by Security Benefit Life Insurance Company (SBL). In New York, the EliteDesigns II Variable Annuity (form FSB254 (5-13)) is a flexible purchase payment deferred variable annuity issued by First Security Benefit Life Insurance and Annuity Company of New York (FSBL), Rye Brook, NY. Variable annuities are distributed by Security Distributors, Inc. (SDI). SDI is a wholly-owned subsidiary of SBL. FSBL and SBL are wholly owned subsidiaries of Security Benefit Corporation ("Security Benefit"). Security Benefit is indirectly controlled by Guggenheim Partners, LLC. EliteDesigns II may not be available in all states. As the issuer of EliteDesigns II, the obligations under the EliteDesigns II Variable Annuity are solely those of the issuing insurer (and no other entity's). SBL is not authorized in the state of New York and does not transact the business of insurance in the state of New York.

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CONTACT: For more information, please contact: Dan Mahoney, Communications Strategy Group (970) 405-8060 dmahoney@csg-pr.com Michel' Cole, Security Benefit Corporation (785) 438-3396 Michel.cole@securitybenefit.com

Source: Security Benefit