The new fixed annuity is claimed to offer contract holders the ability to accumulate wealth in both bull and bear markets

Credit Suisse

A-CAP and AmeriLife launch a new fixed indexed annuity. (Credit: Pixabay/Pexels.)

A-CAP and AmeriLife have have launched the Accumulation Protector PlusSM (APP) Annuity, a 10-year fixed indexed annuity, with exclusive access to the Credit Suisse Momentum Index.

The product, dubbed Accumulation Protector Plus (APP) Annuity, expands the product lines of  A-CAP’s two insurance subsidiaries, Sentinel Security Life Insurance and Atlantic Coast Life Insurance.

APP Annuity also offers its contract holders a unique 10-year guarantee of participation rates through the Credit Suisse Momentum Index.

The indexed annuity features principal protection and growth potential over a range of possible future financial conditions.

The contract holders are given option to select from eight flexible crediting strategies to create a custom growth plan. Of all the strategies, four can be integrated with the Credit Suisse Momentum Index.

Two of the strategies give contract holders guaranteed participation rates for 10 years

The investment approach, paired with stable framework of the APP Annuity, offers them a prospect of growing their premium during turbulent economic situations.

A-CAP life and annuity head Doug George said: “The APP Annuity was designed to address the needs of today’s retirees. With life expectancy increasing, growing uncertainty surrounding traditional sources of retirement income, the lasting repercussions from the Great Recession, and the general volatility of today’s marketplace, retirees are now looking for a way to protect their hard-earned savings.

“The APP Annuity, with exclusive access to the Credit Suisse Momentum Index, is designed to perform well under both increasing and decreasing financial market conditions. This is a product that we are very proud to offer at both A-CAP carriers.”

Additionally, the indexed annuity contract holders can also enhance their contract by selecting Rate Enhancement Rider. It is touted to increase the Fixed, Participation, and Cap rates across the contract holder’s crediting strategies, increasing the chance of potential return from market upswing.

The Rate Enhancement Rider can also increase the amount available for free withdrawal from 5% to 10% of the contract holder’s account value and has 110% minimum guaranteed return of premium for 10 years.

This rider also increases the amount available for free withdrawal from 5% to 10% of the contract holder’s