GALVESTON, Texas, Sept. 10, 2013 (GLOBE NEWSWIRE) -- American National Insurance Company located in Galveston, Texas introduced the ANICO Strategy Indexed Annuity PLUS series on June 1, 2013. As of September 1, the product will now include a new Monthly Sum Strategy option.
American National Insurance Company announces a new strategy for the ANICO Strategy Indexed Annuity PLUS 7 and 10, which became available June 3, 2013 and is now available in most states. This innovative annuity product provides up to 12 potential interest crediting strategies for clients to choose from along with two Lifetime Income Riders that may provide guaranteed cash flow.
The newest of the twelve strategies is the One Year Total Sum Performance with a Monthly Cap, also known as the "Monthly Sum" strategy, which credits interest on an annual basis by comparing the monthly changes in the S&P 500®. On a monthly basis, the index value is compared to the previous month. Increases are subject to a cap while decreases have no limit. At the end of the contract year, the twelve values (capped when applicable) are then summed to determine the annual interest credited with a floor rate of zero percent in negative years; an additional Cap is not applied to the final interest rate in positive years.
ANICO Strategy Indexed Annuity PLUS (ASIA PLUS) provides the opportunity to earn a higher interest based upon the performance of the S&P 500® Index without being directly invested in the Index. Therefore, the client will never lose money based on the fluctuations of the S&P 500® Index as the indexed interest crediting strategies have a 0% floor.
ASIA PLUS provides two different Lifetime Income Riders allowing the client's income base to grow at a specified rate for a specified term before the client begins receiving an income benefit.
David A. Behrens, Executive Vice President of American National Insurance Company stated, "ANICO Strategy Indexed Annuity PLUS allows the client to strategize the placement of their premium in the annuity while guaranteeing a future income stream in retirement. The Monthly Sum strategy allows the client the potential to accumulate interest earnings based on the possible upward movement of the index in positive years."
Available in 7 and 10 year versions, the ASIA PLUS offers multiple features to assist clients in various stages of life.
For agents seeking additional information, including product information and current interest rates, visit the Independent Marketing Group's web site at http://img.anicoweb.com or call the Field Support Center at 888-501-4043.
If you are interested in learning more about this product, please contact your insurance agent or financial advisor.
Indexed strategies earn interest related to the performance of the S&P 500® Index. Whether an indexed strategy earns interest or not and how much interest is earned is dependent on a number of factors: index performance, participation rate cap and segment term. The performance of the index cannot be predicted over any given period of time. Past history of the Index is no guarantee of future performance. American National Insurance Company and its agents do not make any recommendations regarding the selection of indexed strategies. American National Insurance Company and its agents do not guarantee the performance of any indexed strategies.
The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by American National Insurance Company. Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by American National Insurance Company. American National Insurance Company's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.
Form Series: IA13, RLIR (Forms may vary by State)
About the Company
American National Insurance Company (American National), headquartered in Galveston, Texas, was founded in 1905 and is licensed to conduct the business of insurance in all states except New York. American National has been assigned an 'A' rating by A.M. Best Company and an 'A' rating by Standard & Poor's, both of which are nationally recognized rating agencies.
American National is also a Family of Companies offering 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 targeted commercial exposures. The American National Family of Companies operates in all 50 states, and its major insurance subsidiaries include American National Life Insurance Company of Texas, American National Life Insurance Company of New York, American National Property and Casualty Company, Standard Life and Accident Insurance Company, Farm Family Life Insurance Company, Farm Family Casualty Insurance Company and United Farm Family Insurance Company.
For more information, including company news and investor relations information, visit the company's web site at www.anico.com.
CONTACT: Angie Hitchman PH: 888.501.4043
Source:American National Insurance Company