In Brief: American Life Offers Annuity, Drops a Fee

June 11, 2002, 1:00 a.m. EDT 1 Min Read

NEW YORK - American Life Insurance Co. here has announced the start-up of Direct Annuity, a variable annuity product for registered investment advisers that has no insurance charges.

Instead, the client pays only the management fees on the underlying funds, the company said on Friday. To buy the annuity for clients, registered investment advisers can go to advisor.americanlifeny.com and register online.

Direct Annuity offers 85 funds from 12 leading managers with a variety of investment styles and strategies, including growth; value; and short-, medium-, and long-duration fixed income.

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