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  • LEGACY LAUNCHES ENHANCED INCOME FEATURE ON LEGENDMARKSM SERIES OF ANNUITIES

    December 7, 2015 by Legacy Marketing Group

    lnet_logo

     

    For Immediate Release
    LEGACY LAUNCHES ENHANCED INCOME FEATURE ON LEGENDMARKSM SERIES OF ANNUITIES
    Already strong Income XL RiderSM payments can double (1.5X for joint annuitants) when clients can’t perform two of six ADLs.
    PETALUMA, CA, December 7, 2015—Legacy Marketing Group® is excited to announce a new enhanced income feature on the Income XL Rider, available with LegendMark Series flexible premium FIAs issued by Fidelity & Guaranty Life Insurance Company. The enhancement allows consumers who become impaired in performing two of six ADLs and meet other requirements to receive double income (1.5X for joint annuitants).
     
    “I am pleased to announce the addition to LegendMark of one of the most essential features today in the retirement income planning conversation,” said Legacy President Preston Pitts. “The income ‘doubler’ (1.5X for joint annuitants), combined with one of the industry’s most compelling products, arms Producers and IMOs with an extraordinary story that addresses accumulation potential, retirement income, and now a significant income solution for clients with declining health.”
     
    According to the U.S. Department of Health and Human Services, 70% of people turning age 65 can expect to use some form of long-term care during their lives.1 The Income XL Rider’s enhanced payouts are designed to help pay for the rising costs of health-related care and are triggered when clients cannot perform two of six activities of daily living (ADLs) and meet other requirements.
     
    Strong accumulation potential with powerful for-fee strategies (currently offering a 3.10% cap on the Monthly Point-to-Point Interest Crediting Option2) and an innovative Performance Multiplier that increases the account value up to 150%, provide the potential for “extra-large” payouts—and now “XXL” payouts—for an annual rider charge of only 0.80%.
     
    The enhanced Income XL Rider is available on the LegendMark 10- and 14-year surrender schedule products with a bonus in all states where LegendMark is approved, except Florida, Hawaii, Idaho, and Illinois. In addition to the rider, LegendMark—available to clients through age 85—offers “checkbook” access;3 liquidity riders for nursing home confinement, terminal illness, and home health care; and index gains that vest to date of death. Agents are rewarded with up to 8.50% GA-level commission, which includes an extra 50 bps for a limited time.
     
    This product series and rider are offered exclusively through agents contracted with Legacy.
     
    About Legacy Marketing Group®
     
    Legacy Marketing Group partners with respected insurance companies to design and market innovative products for the U.S. fixed annuity 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
     
    LegendMark flexible premium deferred fixed indexed annuities and Income XL Rider enhanced guaranteed minimum withdrawal benefit rider are issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA; products are distributed by Legacy Marketing Group®. Subject to state availability. Certain restrictions may apply. Refer to contract, sales guide, Compensation Schedule, and State Approval Matrix for details. Policy Form Nos: ACI-1018(06-11), API-1018(06-11), et al. Rider Nos: ARI-1064(11-13), ARI-1065(11-13), et al. This document is not intended for use in South Dakota.
    Surrender charges and a market value adjustment may apply to withdrawals that exceed the 10% surrender charge-free amount, which is available each contract year after the first. Withdrawals may be taxable, and when made prior to age 59½, may result in tax penalties. Withdrawals will reduce available death benefit.
    1. “Who Needs Care,” http://longtermcare.gov/the-basics/who-needs-care/, U.S. Department of Health and Human Services (October 16, 2015).
    2. On LegendMark 14. Rate effective December 1, 2015, and subject to change.
    3. Draft must be a minimum of $500 and made payable to the owner or owner’s bank. Drafts limited to four per year. Available only to individual U.S. residents and on traditional IRA and nonqualified contracts.
    FG1871v1015 FOR AGENT USE ONLY. NOT FOR USE WITH CONSUMERS. 15-1018

    Originally Posted at Legacy Marketing Group on December 7, 2015 by Legacy Marketing Group.

    Categories: Industry Articles
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