Great American has expanded its product offerings to include a new fixed-indexed annuity with three optional riders.
The American Custom 10 is designed to help consumers protect their retirement assets while providing the opportunity for increased accumulation.
Consumers have the flexibility to select from multiple interest crediting strategies to fit their needs, including the S&P 500 point-to-point indexed strategy with a participation rate that offers uncapped earning potential.
Three new riders are available exclusively with the American Custom 10 and offer a range of benefits to address the needs of people in or near retirement. Available riders include the Cumulative-Free Withdrawal Option for added liquidity, the Simple Income Option for fixed lifetime income and the Stacked Income Option for lifetime income with the opportunity for income increases.
According to Joe Maringer, National Sales Vice President of Great American Life, the new product provides simplicity without compromising benefits to the consumer.
"As retirees grow increasingly aware of the possibility of outliving their retirement income, Great American remains focused on creating and delivering new annuity solutions to address their concerns. The American Custom 10 offers indexed strategies that are easy to understand and designed to help consumers maximize their income potential," Maringer says.
"Not only does the product allow retirees to continue building their wealth without risking their principal, it also provides the opportunity to receive guaranteed lifetime income on a fixed or potentially increasing basis."
The American Custom 10 is issued by Great American Life and is the newest addition to its portfolio of fixed and fixed-indexed annuities, and lifetime income and enhanced death benefit riders.
Great American Life Insurance Company is a member of Great American Insurance Group.