Wells Fargo Advisors, a US-based brokerage firm, is expanding its annuity product line with the addition of fixed-indexed annuities and income and death benefit riders from Great American Life Insurance to help advisors meet needs of their clients.
Great American Life Insurance divisional president Malott Nyhart said that the agreement opens up new opportunities for both the firms as consumers keep on looking for products to fit their individual needs.
"Whether they are looking for guaranteed predictable income for their retirement, an enhanced death benefit for their beneficiaries, or the combination of both, our products and riders can help them reach their goals," Nyhart added.
Wells Fargo Advisors will now offer AssuranceProtect 6 and AssuranceSelect 7 fixed-indexed annuities of Great American Life Insurance, while the optional riders include IncomeSecure, Inheritance Enhancer and IncomeSustainer Plus.
The fixed-indexed annuities were designed to meet the needs of financial institutions, whereas optional riders provide a combination of guaranteed retirement income and enhanced death benefits.