Delaware Life Announces The Launch Of Innovative Index Annuity With Deutsche Bank Indices
May 19, 2015 by PRNewswire
WELLESLEY, Mass., May 13, 2015 /PRNewswire/ — Delaware Life Insurance Company (“Delaware Life”) has announced the launch of Retirement Chapters 10℠Fixed Index Annuity, a new product that includes crediting strategies based on two Deutsche Bank-sponsored indices.
The CROCI Sectors III USD 5.5% Volatility Control Index offers global equity exposure via Deutsche Bank’s CROCI Sectors Index and a cash component used to smooth overall volatility. The CROCI Sectors strategy seeks to uncover value across a range of global equity markets and sectors by employing Deutsche Bank’s proprietary CROCI (Cash Return on Capital Invested) valuation methodology. While the Sectors strategy has been available to select global institutional clients since March 2005, Retirement Chapters 10℠ marks the first time the strategy has been made available to U.S. annuity investors.
The Momentum Asset Allocator 5.5% Volatility Control Index employs a multi-asset, momentum based strategy that allocates across Equities, Rates, Gold and Cash. This diversified strategy combines defensive and risky constituents across different asset classes to target enhanced returns in a wide range of market environments. The Momentum Asset Allocator strategy has been available to select global institutional clients since June 2005 and Retirement Chapters 10℠ offers it to U.S. annuity investors for the first time.
Retirement Chapters 10℠ also offers a range of features and benefits designed to help investors accumulate retirement assets without fear of market loss, with an optional withdrawal benefit that provides an increasing (“stacked”) Benefit Base and guaranteed lifetime income payments, available for an additional cost.
“We are excited about our new product and our new partnership with Deutsche Bank,” said Tom Seitz, Head of Distribution for Delaware Life. “The retirement savings market is clearly signaling increased demand for intelligent index annuity products, and we believe Retirement Chapters 10℠ brings investment diversity with real-world value to the space.”
William Shelton, Managing Director and Deutsche Bank’s Head of Retail Distribution added, “Deutsche Bank has spent many years developing a broad suite of transparent, rules-based, index-linked investment strategies. We are pleased to see these time-tested strategies becoming available to U.S. investors in the insurance market for the first time helping more Americans plan for a secure retirement.”
Retirement Chapters 10℠ is available exclusively through a select group of distribution partners, in approved states. For more information and product details, please visit http://www.delawarelife.com.
About Delaware Life Insurance Company
Delaware Life, through its insurance subsidiaries, is a leading provider of annuity and life insurance products in the United States, currently managing approximately $40 billion of in-force annuity and life insurance policies. The Company was established in August 2013, in connection with the purchase by Delaware Life Holdings, LLC of the domestic U.S. annuity business and certain individual life and corporate markets insurance businesses of Sun Life Financial Inc.
Delaware Life Insurance Company is authorized to transact business in all states except New York, as well as in the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Delaware Life Insurance Company of New York is authorized to transact business in New York and Rhode Island. Both companies are members of the Delaware Life group of companies. Each company is responsible for its own financial condition and contractual obligations.
About Deutsche Bank
Deutsche Bank is a leading client-centric global universal bank serving 28 million clients worldwide. Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
The product description above is a summary only. All benefits and features are subject to the actual terms and conditions of the annuity contract. Payment of benefits is the sole obligation of Delaware Life Insurance Company (“DLIC”) and not Deutsche Bank. The selection of one or more indices as a crediting option does not obligate Delaware Life Insurance Company or Deutsche Bank to invest annuity payments in the components of the indices. This Product (the “Product”) is not sponsored, endorsed, managed, sold or promoted by Deutsche Bank AG (DB AG) or any subsidiary or affiliate of DB AG. The DB Indices are the exclusive property of DB AG. “Deutsche Bank,” “CROCI” and “Momentum Asset Allocator” are proprietary marks of Deutsche Bank AG and its affiliates that have been licensed for certain uses and purposes to Delaware Life Insurance Company. Neither DB AG, CROCI, nor any affiliate of DB AG, nor any other party involved in, or related to, making or compiling the indices: (1) is acting in a fiduciary or product management capacity or providing any endorsement of the Product or investment advice of any kind; (2) has any obligation to take the needs of DLIC, the sponsor of the Product, or its clients into consideration in determining, composing or calculating the Indices; (3) is responsible for or has participated in the determination of the timing of, prices at, quantities or valuation of the Product; (4) WARRANTS OR GUARANTEES THE ACCURACY AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA INCLUDED THEREIN AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN OR THE ADMINISTRATION, MARKETING OR TRADING OF THE PRODUCT. The CROCI Indices have been built on the premise that the CROCI Economic P/E is an effective indicator of inherent value. This premise may not be correct, and prospective investors must form their own view of the CROCI methodology and evaluate whether CROCI is appropriate for them. Please see the Disclosure Statement and Annuity Illustration for more information about the Indices and the Product.
www.delawarelife.com
SOURCE Delaware Life Insurance Company
RELATED LINKS
https://www.delawarelife.com
