NORTHBROOK, Ill. - Glenbrook Life and Annuity Co., a division of the Allstate Financial Group, has teamed up with the mutual fund company, Aim Investment Management, to create a family of variable annuities, said Mark Santero, senior vice president and director of Aim's alliance products division.
The Aim Lifetime America Variable Annuity Series allows a variety of payment schedules, surrender periods, and investment options, said Andrea Schur, a senior vice president of Glenbrook Life. The product also has no annual contract fee, she said Monday.
Allstate, a division of Northbrook, Ill.-based Allstate Corp., has underwritten variable annuities for Aim for the past seven years, Mr. Santero said. Aim manages about $11 billion of proprietary and nonproprietary variable annuities, he said.
