The Standard Partners with Legacy Marketing Group in FI Annuity Launch
Standard Insurance Company and Legacy Marketing Group announced an alliance and new joint venture with the debut of EclipseMarkSM Single Premium Deferred Index Annuities.
Built to reduce renewal rate guesswork, EclipseMark fixed index annuities feature extended-rate guarantees on several interest crediting options, including a 10-year fixed rate option.
“This partnership with Legacy marks an exciting new chapter in our commitment to provide innovative financial solutions,” said Alan Assner, vice president and head of Individual Annuities at The Standard. “By combining our expertise, we can deliver an annuity product that not only provides security and stability but also empowers people to plan for a stronger financial future.”
EclipseMark is designed for upside potential and features a 12% vesting premium bonus to jump-start earnings.
The feature includes a 10-year surrender schedule for those focused on long-term growth and a five-year option for clients up to age 90. With the product, clients can also access funds through penalty-free withdrawals of up to 15% annually after the first contract year.
“We are pleased for the opportunity to work with The Standard, one of the most highly respected organizations in the industry,” said Preston Pitts, president of Legacy Marketing Group. “I believe this FIA aligns security, stability and growth opportunities. Designing an FIA that offers crediting options to cover a multitude of consumer risk tolerances, while simultaneously providing guarantees to issued rates on most crediting strategies, was critical to the construction of this product.”
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
