Keyport Developing an Indexed Annuity for Banc One

Keyport Life Insurance Co. has started developing a proprietary indexed annuity for Banc One Corp.

The annuity will be launched in early 1997, according to Kenneth M. Hughes, Keyport's director of bank sales. It is based on Keyport's popular KeyIndex annuity, which gives investors a potential bonus rate based on the performance of the Standard & Poor's 500.

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