Bankers Life Offers Security Builder® Indexed Annuity with Earned Interest Linked to S&P 500®

Rhea-AI Summary

Bankers Life, part of CNO Financial Group, launched the Security Builder® Indexed Annuity, aimed at protecting retirement funds while generating interest. This product responds to financial uncertainties heightened by COVID-19, offering benefits like higher returns, tax-deferred earnings, and principal safety. The annuity's value is linked to the S&P 500, ensuring the principal remains intact during market downturns. Available for ages 0-85, it is designed for those nearing retirement, complementing existing annuity offerings from Bankers Life.

Positive

• Launch of Security Builder® Indexed Annuity addresses market volatility and consumer needs.
• Provides benefits such as higher returns, tax-deferred earnings, and principal safety.
• Value linked to S&P 500 with protection against market losses.

Negative

• None.

CHICAGO, July 10, 2020 /PRNewswire/ -- Bankers Life, a national life and health insurance brand that focuses on the insurance needs of Americans who are near or in retirement, announced today its new Security Builder® Indexed Annuity (Security Builder®), an insurance product designed to earn interest and safeguard funds. This is the fourth indexed annuity product offered by Bankers Life.

"Faced with financial uncertainties caused by COVID-19 market volatility, many middle-income consumers are reviewing their finances and reconsidering preparations for the future," said Scott Goldberg, president of the consumer division at CNO Financial Group. "Anyone nearing retirement should take a second look at their financial plan and consider insurance products that offer financial upside with downside protection.  Security Builder can safely accumulate savings and provide an ongoing income stream that is guaranteed for life."

Security Builder's benefits are designed for:

• Higher returns
• Tax-deferred earnings
• Beneficiary-friendly money, making it easier to leave a legacy for loved ones or a favorite charity
• Principal safety and access to funds

The account value of the annuity is linked, in part, to the S&P 500—all while protecting principal against downside stock market risk. If the S&P 500 experiences a loss, the annuity does not experience a corresponding drop in value, and that value is guaranteed never to decrease due to stock market declines.

Security Builder complements Bankers Life current fixed indexed annuity products, including the Guaranteed Lifetime Income Annuity (GLIA), the Premium Bonus Indexed Annuity (PBIA), and the GrowthPoint® Indexed Annuity. Bankers Life also offers various insurance and retirement solutions, which include Medicare supplement insurance, life insurance, long-term care insurance and supplemental health insurance, as well as investment solutions offered through Bankers Life Securities, Inc. and Bankers Life Advisory Services, Inc.

Security Builder is available in 49 states through Bankers Life exclusive insurance agents with issue ages from 18 to 85 for Qualified Funds and 0 to 85 for Non-Qualified Funds. Payout may be subject to withdrawal charges, which can vary by state. To learn more about this and other income longevity products offered by Bankers Life, visit BankersLife.com.

About Bankers Life
Bankers Life focuses on the insurance needs of middle-income Americans who are near or in retirement. The Bankers Life brand is a part of CNO Financial Group, Inc. (NYSE: CNO), whose companies provide insurance solutions that help protect the health and retirement needs of working Americans and retirees. There are approximately 4,200 career agents across approximately 260 U.S. sales offices. To learn more, visit BankersLife.com.

Bankers Life is the marketing brand of various affiliated companies of CNO Financial Group including, Bankers Life and Casualty Company, Bankers Life Securities, Inc., and Bankers Life Advisory Services, Inc.  Non-affiliated insurance products are offered through Bankers Life Securities General Agency, Inc., (dba BL General Insurance Agency, Inc., AK, AL, CA, NV, PA).

Securities and variable annuities offered through Bankers Life Securities, Inc. Member, FINRA/SIPC (dba BL Securities Inc., AL, GA, IA, IL, MI, NV, PA). Advisory products and services offered by Bankers Life Advisory Services, Inc. SEC Registered Investment Adviser (dba BL Advisory Services, Inc., AL, GA, IA, MT, NV, PA).

 

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SOURCE Bankers Life

FAQ

What is the Security Builder® Indexed Annuity by CNO Financial?

Security Builder® is an indexed annuity launched by Bankers Life, part of CNO Financial Group, aimed at protecting retirement funds while generating interest.

When was the Security Builder® Indexed Annuity announced?

The Security Builder® Indexed Annuity was announced on July 10, 2020.

Who is the target audience for the Security Builder® Indexed Annuity?

The annuity is designed for middle-income consumers who are nearing retirement.

How is the account value of the Security Builder® Indexed Annuity determined?

The account value is linked to the S&P 500 and offers principal protection against market downturns.

What are the age limits for purchasing the Security Builder® Indexed Annuity?

It is available for ages 0-85 for Non-Qualified Funds and 18-85 for Qualified Funds.