The Manhattan Life Insurance Company (MLIC) today announced the introduction of a new Multi-Year Guaranteed Fixed annuity product line. The Preferred Choice Series is a single-premium deferred annuity line offering guaranteed periods of three, five, six, and seven years.
The Preferred Choice Series five, six, and seven year products offer a 15% calendar year free withdrawal provision available in year one. Minimum premiums are set at $3,000 ($25,000 on Preferred Choice 6) with issue ages between 0 and 84. The Preferred Choice 3 product can be issued from ages 0 to 99 and offers interest only withdrawals.
“The Preferred Choice series was designed to appeal to investors who are looking for competitive interest rates, safety, tax deferred growth and lifetime income options,” said Dan George, Manhattan Life President. “We are excited to be offering our five, six, and seven year products with crediting rates currently at 3.00% or higher.”
In April of 2013, the Manhattan Insurance Group acquired Western United Life Assurance Company (WULA). WULA offers a full line of fixed annuity products throughout the western United States. All annuity underwriting and customer service for both companies will be done at the WULA home office in Spokane, WA. Between MLIC and WULA the two companies will now be offering annuity products in 45 states.
The MLIC and WULA fixed annuities are distributed through independent personal producing general agents and a select group of marketing partners throughout the United States. For more information and state availability please contact a Regional Sales Director at (800) 247-2045.