Jefferson Pilot Financial, a Greensboro, N.C., provider of universal and variable universal life insurance and fixed annuities, has introduced two index annuities, including one available only in banks.
Jefferson Pilot OptiChoice and Jefferson Pilot Clear Point are designed to help investors prepare for retirement or meet other long-term needs, the company said Wednesday. The former is available through insurance agencies, and the latter is available exclusively through banks.
The Clear Point product, a single-premium deferred annuity, offers a choice of a one-year, point-to-point indexed account linked to the S&P 500 and a one-year, fixed interest account. It also lets people take withdrawals of up to 15% annually without a surrender charge.
The OptiChoice product, a flexible-premium deferred annuity, offers a fixed account and a choice of three annual reset indexed accounts with one-year indexed terms linked to the S&P 500. It also offers surrender charge terms of five, seven, or nine years and withdrawals of up to 10% of the accumulation value each year without a surrender charge or market-value adjustment.
