MADISON, Wis., Sept. 21, 2020 /PRNewswire/ -- CUNA Mutual Group, a leading insurance and financial services company, announced today the launch of its new MaxProtect™ Fixed Annuity, a multi-year guaranteed annuity providing investors a guaranteed rate of return while protecting their nest egg from market volatility. MaxProtect™ joins CUNA Mutual Group's already-robust portfolio of annuities, which had fourteen mentions in Barron's 2020 Top 100 Annuities list.
MaxProtect™ is designed with transparency and simplicity in mind, while still allowing customers the flexibility to meet their retirement goals. Product features include:
- Guaranteed interest rate periods of 3, 5, or 7 years
- A market value adjustment and book value version
- An optional return of principal guarantee
- The option to receive payouts on a fixed installment or fixed life basis
"If the past nine months have taught us anything, it's that few things in life are guaranteed," said Dave Hanzlik, Vice President of Annuity and Retirement Solutions, CUNA Mutual Group. "With market ups-and-downs continuing to roil the economy, many investors in or nearing retirement fear a market downturn will cause them to lose the money they worked so hard to save. But MaxProtect™ provides a crucial defense against today's volatility, offering guaranteed growth and protection from economic uncertainty. We're pleased to add this product to our suite of annuities and further expand the options available to our customers to help them work towards a more secure retirement."
Accessibility is also an important feature for MaxProtect™. With the minimum purchase amount starting at $10,000 and no fees, customers are able to clearly understand what they're paying for and what to expect.
"One of CUNA Mutual Group's core philosophies is helping people build a brighter financial future, and we believe the best way to do that is to provide easy-to-understand, no-gimmicks vehicles so that customers can more effectively plan and work towards their retirement goals," added Hanzlik.
Currently available in 44 states, MaxProtect™ is underwritten by CMFG Life Insurance Company, a subsidiary of CUNA Mutual Group. To learn more about CUNA Mutual Group's annuity products, visit cmannuities.com.
About CUNA Mutual Group
With roots in the financial institution space, CUNA Mutual Group offers innovative products that help take the risk out of retirement. Dedicated to understanding needs of advisors and the clients they serve; we work in new ways to reduce the complexity and fear of financial planning. Our annuities are designed to help meet accumulation, income and legacy planning needs, while providing stability, accessibility and a high level of support to help investors achieve financial security. Learn more at cmannuities.com.
Follow us on LinkedIn.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Annuities are issued by CMFG Life Insurance Company (CMFG Life) 2000 Heritage Way, Waverly, IA, 50677. CMFG Life is a stock insurance companies. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All contracts and forms may vary by state and may not be available in all states or through all broker/dealers. Base Policy Forms ICC20-SPDA, 2020-SPDA, ICC20-ROPGEND, 2020-ROPGEND, ICC20-MVAEND, 2020-MVAEND.
CMP-3215314.1-0820-0922 © CUNA Mutual Group 2020
SOURCE CUNA Mutual Group