Offers Consumers the Opportunity to Accumulate
Funds for Retirement by Allowing Flexible Contributions Over
Time
CHICAGO, Oct. 10,
2023 /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 that it is
expanding its annuities portfolio by introducing the Flexible
Premium Bonus Indexed Annuity (FPBIA).
The Bankers Life FPBIA is designed with stability and
flexibility in mind to help customers create a guaranteed lifetime
income stream for retirement. The FPBIA allows for additional
deposits after the policy is in effect, allowing clients to
consolidate their retirement accounts and a single place to deposit
rather than buying multiple policies. It also provides clients the
opportunity to make deposits multiple times a year to help save for
their retirement and accumulate retirement money that may be less
volatile as they near retirement.
According to a recent company survey1, 76% of
respondents are concerned that the rising cost of living will
prevent them from enjoying retirement and 23% do not feel prepared
with an income stream in retirement.
"If you're nearing or in retirement, Bankers Life Flexible
Premium Bonus Indexed Annuity can help you protect and build your
nest egg," said Scott Goldberg,
president of the Consumer Division, CNO Financial Group. "Customers
who have funds set aside in multiple vehicles for retirement and
are looking to de-risk their portfolios will appreciate the
stability, flexibility and simplicity of our new FPBIA product. It
is an ideal solution to customers' retirement planning goals of
saving, securing guaranteed retirement income and building a
financial legacy."
Addressing consumer needs for protection and growth opportunity,
FPBIA offers features and benefits that include:
Features
- Each deposit earns interest distinctly and separately from any
other premium deposit.
- Each premium receives a bonus that vests over time.
- Fixed and Index-linked credit options.
- Ability to earn a guaranteed fixed interest rate on monies
allocated to the fixed option.
Benefits
- Flexible premiums
- Higher possible growth potential
- Tax-deferral on gains
- Easy access to funds
- Beneficiary-friendly money
FPBIA is currently available in the following states: AK, AL,
AZ, CA, CT, DC, DE, FL, IA, ID, IN, MD, MI, MN, MO, MT, NC, NH, NJ,
NV, OH, OR, PA, TN, TX, UT, VA, WA, and WY.
For more information and details on the new FPBIA product as
well as more Bankers Life's full portfolio of annuity products,
visit BankersLife.com/annuities.
About Bankers Life
Bankers Life focuses on the insurance and investment 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 and wealth management solutions
that help protect the health and retirement needs of working
Americans and retirees. There are approximately 4,300 exclusive
agents, including 700 financial representatives working from more
than 230 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).
1 - CNO Financial Group, Customer Panel Survey: Helping
Consumers Navigate Economic Uncertainty, 2023, p. 17
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SOURCE Bankers Life