American National introduces two new products for New York: Century Plus Annuity and Limited Pay Whole Life
November 3, 2018 by American National
GLENMONT, N.Y., Nov. 02, 2018 (GLOBE NEWSWIRE) — Effective immediately, American National announces the addition of a new tax-deferred fixed annuity and a limited premium whole life product, Limited Pay Whole Life Insurance.
Century Plus Annuity
This single premium, fixed, deferred annuity may be the right choice for someone who is a conservative investor who wants to protect their principal while safely growing their money at a fixed rate. Regardless of market conditions, the original premium will remain protected.
Century Plus Annuity:
- Allows for tax-deferred growth.
- Includes a 5.0% first year interest rate enhancement.
- Offers fixed interest rates.
- Includes a minimum guaranteed interest rate based on the NAIC Index.
Limited Pay Whole Life
This whole life insurance product is designed for individuals purchasing life insurance for any qualified 401(a) plan, including section 412(e)(3) plans. Rather than paying premiums for the life of the policy, premiums are paid for a set number of years while keeping the level, guaranteed death benefit and cash value common to whole life policies. Premiums are payable either to age 65 or for 10 years, depending on the issue age of the insured.
David A. Behrens, President and CMO of American National Life Insurance Company of New York, stated, “The addition of these two products to American National’s New York portfolio, shows that we recognize that baby boomers are looking for products that include guarantees as well as permanent protection. We are happy to introduce new life and annuity products to help meet their needs.”
About the Company
American National Life Insurance Company of New York, headquartered in Glenmont, New York, is licensed to conduct the business of insurance in New York. American National Life Insurance Company of New York offers a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance and pension products.
Financial Strength Ratings:
American National Insurance Company of New York has been evaluated and assigned the following ratings by nationally recognized, independent rating agencies.
| A.M. Best1 – A | Standard & Poor’s2 – A |
Ratings reflect current independent opinions of the financial capacity of an insurance organization to meet the obligations of its insurance policies and contracts in accordance with their terms. They are based on comprehensive quantitative and qualitative evaluations of the company and its management strategy. The rating agencies do not provide ratings as a recommendation to purchase insurance or annuities. The ratings are not a warranty of an insurer’s current or future ability to meet its contractual obligations. Ratings may be changed, suspended, or withdrawn at any time. For the most current ratings view the full rating reports on American National’s Internet site at www.americannational.com.
1 A.M. Best’s active company rating scale is: A++ (Superior), A+ (Superior), A (Excellent), A- (Excellent), B++ (Good), B+ (Good), B (Fair), B- (Fair), C++ (Marginal), C+ (Marginal), C (Weak), C- (Weak) and D (Poor). A.M. Best’s ratings were assigned in December 2017 based on 2016 financial results. For more information on Best’s rating of American National Insurance Company, view the ratings report. 2Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. Standard & Poor’s ratings were assigned in July 2018 based on 2017 financial results.
Form Series: LPWL17(NY); SPDA17(NY)
IMG22378 | 10.18
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