A New Fixed Indexed Annuity Has RIAs in Mind
February 5, 2019 by Bernice Napach
DPL Financial Partners, an insurance network for RIAs, has partnered with Security Benefit Life Insurance Co. to launch a fixed index annuity that reflects input from DPL’s RIA members.
The annuity, called ClearLine, is commission-free, like all DPL products, and offers downside protection in exchange for limited upside gains. The minimum investment is $25,000.
The annuity comes in two flavors: one linked to the S&P 500 index; another to a low-volatility S&P 500. Investors in the annuity linked to the standard S&P 500 index receive 100% of the gains up to a 7.5% annual cap (7.75% for those with investments of more than $500,000). Investors in the low-volatility index product receive the same minus a 50-basis-point spread fee (30 basis points for those with more than $500,000 invested).
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