Annuity Investors Life Insurance Company, a member of Great American Insurance Group, has enhanced its portfolio by launching two new single premium fixed annuities, the GreatStep Five and GreatStep Seven.

The new annuities offer a guaranteed growth during the five- or seven-year term, several settlement options for retirement needs, and liquidity.

Great American Insurance Group executive vice president Mat Dutkiewicz said that introduction of the annuities offers clients’ peace of mind when making preparations for retirement.

"With a guaranteed increasing interest rate, annuity products like the GreatStep Five and GreatStep Seven can be an effective way for clients to step up saving and move toward a financially secure future," Dutkiewicz added.