WINDSOR, Conn., July 28, 2016 /PRNewswire/ -- Are you skittish about the stock market? Vantis Life Insurance has a solution. The insurance company today announced that it now is offering TaxSaver Freedom, a series of easy-to-understand annuity products with competitive rates.
Vantis Life, which primarily sells its products through banks and credit unions, created the products without complicated, hard to understand "bells and whistles" that can be typical of indexed and variable versions of the product.
"Many people who are planning for retirement, or even those already retired, have found the increased stock market volatility very troubling," said Craig Simms, Vantis Senior Vice President/Chief Marketing Officer. "Our TaxSaver Freedom annuity products offer competitive, fixed interest rates guaranteed for 5 or 7 years. The rates currently range from 2% to 2.5%, depending on which of three variations is selected. One variation also offers a guaranteed return of principal during the guarantee period."
In addition, all versions offer nursing care facility waivers and terminal illness waivers. There are no front-end loads or annual fees. The minimum investment from non-qualified funds is $5,000 and the maximum is $500,000.
"Our objective was to create America's easiest-to-buy annuity products," Simms said. "We have done that with our new Tax Saver Freedom series."
Taxes on interest earned during the life of the annuity typically are deferred until funds are withdrawn, generally when the individual is subject to a lower effective tax rate.
Unlike some other annuities, the new Vantis products are not automatically renewed with new surrender charges at the end of the term. Most other companies will send a notification about 30 days prior to the end of an annuity term. However, many people find they have missed a deadline and are stuck with a renewal they did not really want and perhaps did not need.
"After analyzing the market, we are convinced we now offer America's easiest-to-buy annuities," Simms said.
Vantis Life Insurance Company was established in 1942. From its inception, the company's primary goal has been to provide families with affordable life insurance and annuity products available through their financial institutions. With an A-(Excellent) rating from A.M. Best, Vantis Life prides itself on providing simple, easy-to-afford products to middle and upper middle income families. Sales and marketing information is available at 1-866-826-8471 or www.vantislife.com/able.
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SOURCE Vantis Life Insurance Company