Legacy Announces Strategic Partnership With Americo
April 8, 2014 by N/A
PETALUMA, CA, April 7, 2014—Legacy Marketing Group® today announced a strategic alliance with Americo Financial Life and Annuity Insurance Company (Americo) to develop and market proprietary fixed indexed annuity products. “Americo is innovative and committed to partnering with us to focus on growing independent distribution,” said Preston Pitts, Legacy President.
The partnership will allow Legacy and Americo, which is rated “A-” by A.M. Best, to combine their expertise in bringing innovative products to the market. “We are excited to be working with such a recognized leader in the independent product distribution channel. We believe the LibertyMarkSM Series will be just the first of many innovative annuity products that Legacy and Americo will bring to the marketplace,” said Phil Polkinghorn, Americo President.
Designed to provide consumers with an opportunity for substantial returns in multiple economic conditions, LibertyMark offers the built-in diversity of seven indexed interest crediting choices, most with uncapped potential. Consumers benefit from the performance of four market segments, which include equity indices as well real estate and gold. A fixed rate strategy is also available.
Consumers can choose a 7- or 10-year product, with an optional dual bonus on the 10-year product (5% upfront plus 10% on the Accumulation Value at the end of Year 10; the persistency bonus is 8% in lower-surrender-charge states). LibertyMark features a strong minimum guarantee of 1% to 3% on 100% of premium received, less any surrender charges. Agents are rewarded with up to 7% GA commission on the 7-year product and up to 8% on the 10-year products.
LibertyMark single premium FIAs are offered exclusively through agents contracted with Legacy and are currently available in most states.
ABOUT LEGACY
Legacy Marketing Group partners with respected insurance companies to design and market innovative products for the U.S. fixed annuity and life insurance market. These products are sold exclusively through Legacy’s nationwide network of independent insurance agents.
Media Contact: Legacy Marketing Group Diane Shemi, Director of Marketing, 800-395-1053, Ext. 5838 diane.shemi@legacynet.com
ABOUT AMERICO
For more than 100 years, Americo Life, Inc.’s family of insurance companies has been committed to providing the life insurance and annuity products consumers need to protect their mortgage, family, and future.1
They listen to what the consumer wants from an insurance policy or annuity and do their best to provide a proper solution for individual situations.
Innovative thinking has helped Americo Life, Inc. build a strong financial foundation for its business. Americo Financial Life and Annuity Insurance Company (Americo) is the lead company in one of the largest, independent, privately held insurance groups in the United States2 with more than $32.7 billion of life insurance in force and $6 billion in assets for year-end 2013.3
Rating for Americo Financial Life and Annuity Insurance Company (Americo), 2014. Americo Financial Life and Annuity Insurance Company has a financial strength rating of A- (Excellent, 4th out of 15 rating categories). A.M. Best’s rating is assigned after a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance, and business profile. A.M. Best uses a scale of 15 ratings, ranging from “A++” to “F.”
LibertyMark 7, LibertyMark 10, 10 LT (Policy Series 411/4182), and LibertyMark 10 Plus, 10 LT Plus (Policy Series 411/4179/4182/4184) are single premium deferred fixed indexed annuities underwritten by Americo Financial Life and Annuity Insurance Company (Americo), Kansas City, MO, and may vary in accordance with state laws. Products are distributed by Legacy Marketing Group®. Some products and benefits may not be available in all states. Certain restrictions and variations apply. Consult policy and riders for all limitations and exclusions. Legacy Marketing Group is an independent, authorized agency of Americo.
Americo Financial Life and Annuity Insurance Company is authorized to conduct business in the District of Columbia and all states except NY and VT.
1. Americo Life, Inc. is a holding company and is not responsible for the financial condition or contractual obligations of its affiliate insurance companies.
2. “Admitted Assets, Top Life Writers-2013,” A.M. Best Co. as of July 2013.
3. Information is as of year-end 2013 on a consolidated basis for Americo Financial Life and Annuity Insurance Company and the other life insurance subsidiaries of Americo Life, Inc. Information is prepared on the basis of generally accepted accounting principles (GAAP).
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