WINDSOR, Conn., July 28, 2016 /PRNewswire/ -- With consumers more and more skittish about the stock market, and Department of Labor (DOL) rules weighing on agents and distribution outlets, Vantis Life Insurance Company has a solution. The company today announced that it now is offering TaxSaver Freedom, a series of easy-to-understand fixed, MYGA 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 annuities.
"Many people who are planning for retirement, or even those already retired, have found that stock market volatility is very troubling," said Craig Simms, Vantis Senior Vice President/Chief Marketing Officer. "They want guarantees and competitive rates. Our TaxSaver Freedom annuity products deliver with 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."
The product is offered in three versions: Return of Principal (ROP), Non-ROP and Market Value Adjustment (MVA). 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.
Also, 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.
"We continue to target the under-served middle income and emerging affluent markets," Simms said. "These markets too often don't have the planning and investments they need to lock in secure retirements."
"Our objective was to create America's easiest-to-sell and easiest-to-buy annuity products," Simms said. "We have done that with our new Tax Saver Freedom series."
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. The Company is celebrating 20 consecutive years of 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 http://www.vantislife.com/able.
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SOURCE Vantis Life Insurance Company