National Life Group Announces New 401(k) Market Product
National Life Group® Announces a New Relationship with Expert Plan and 401(k) Marketing to offer a 401(k) Plan with a Fixed Indexed Annuity
Montpelier, Vermont (I-Newswire) November 7, 2012 - National Life Group, through its member company Life Insurance Company of the Southwest, has launched its new SecurePlus VIP (Value and Income Plan) for the 401(k) market. SecurePlus VIP is a fixed indexed annuity designed to complement traditional investment choices in a 401(k) plan. It may be ideal for employees who are approaching retirement and want guarantees1 that are inherent in fixed indexed annuities. SecurePlus VIP does not displace the other traditional investment selections offered in any 401(k) retirement plan.
Today’s financial engineers face a daunting task: creating a conservative 401(k) option that protects retirees from outliving their money. Now as retirement is on the horizon for millions of baby boomers participating in 401(k) plans, they must find ways to direct those funds into more conservative investments that generate income.
"Mutual funds as a retirement investment vehicle provide investors with a means to save for retirement but fall short of providing safety and income guarantees. SecurePlus VIP provides employees with a new choice within their 401(k) plan that allows them to not only accumulate savings for retirement but also offers them a guaranteed income solution that allows them to better plan for retirement," explains Wade Mayo, Head of the Retirement Division, National Life Group.
With SecurePlus VIP, participants are guaranteed a minimum rate of interest regardless of what happens to the markets or interest rates (assuming no withdrawals in the withdrawal charge period). Annuities can help them reach their retirement goals of income generation, tax reduction and asset protection with one financial solution.
“There is no other solution offered on a 401(k) platform in the market today that provides annuitants with a solution for systematic accumulation and systematic distribution for their retirement savings.” explains Carl Lutz, Chief Actuary, Retirement Division of National Life Group. “In addition, annuitants will have peace of mind that their premiums paid and interest earned are protected while they retain total control of their retirement savings to cover unexpected expenses and to provide for their beneficiaries.”
In association with ExpertPlan, we are able to offer a fixed indexed annuity as a guaranteed income choice on a 401(k) platform. “We are excited about our relationship with National Life Group and offering their fixed indexed annuity product on our platform as an alternative to traditional mutual fund investments. The SecurePlus VIP product will help our mutual clients better plan for a more secure retirement in conjunction with our recordkeeping technology and personalized client service delivery,” says Ross Brown, Senior Vice President, ExpertPlan.
Offering Fixed Indexed Annuities as a standard menu item in a 401(k) is new to the industry and will require in-depth training, service and support for participating insurance agents and financial advisors. National Life Group has selected 401k Marketing to provide these specialized services to agents & advisors offering SecurePlus VIP annuity to employers' sponsoring 401(k) plans and participating employees. 401k Marketing will provide "hands on start to finish guidance" to financial professionals through the various new activities required to successfully position fixed index annuities as a standard menu choice for 401(k) plans.
"The training and marketing program offered by 401k Marketing will provide participating agents and advisor with the specialized training and marketing tools to promote SecurePlus VIP as a unique and valued savings option in a 401(k) retirement plan," explains Carl Lutz.
“We’ve listened to our clients and we’ve observed the demand for a guaranteed source of income,” says Matt DeSantos, VP Marketing and Business Development, National Life Group. “With Secure Plus VIP,
we are giving plan sponsors what they want and need: the ability to have an alternative investment in a 401(k) plan that provides plan participants with lifetime income benefits and control of their savings."
About National Life Group
Consolidated end of year results of NLV Financial Corporation and Subsidiaries, including National L More..ife Insurance Company, Life Insurance Company of the Southwest, Sentinel Investments, Equity Services, Inc., and National Retirement Plan Advisors.
National Life Group® is a trade name representing various affiliates that offer a variety of financial service products. National Life Insurance Company is licensed in all 50 states and the District of Columbia. Life Insurance Company of the Southwest, Addison, TX is licensed to do business in 49 states and the District of Columbia. It is not licensed to do business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. Sentinel Investments® is the unifying brand name for Sentinel Financial Services Company, Sentinel Asset Management, Inc., and Sentinel Administrative Services, Inc. All companies, unless otherwise noted, are affiliated and are located in Montpelier, VT. Each company of the group is solely responsible for its own financial condition and contractual obligations.
Mutual Funds and variable products are sold by prospectus. For more complete information, please request a prospectus from your registered representative. Please read it and consider carefully a product's objectives, risks, charges and expenses before you invest or send money. The prospectus contains this and other information about the investment company.Less..
National Life Group
1 National Life Drive
Phone : 802.229.3882
Tags:retirement annuity National Life Group 401k retirement plan fixed indexed annuity 401k market 401k products 401k annuity expert plan SecurePlu
Published On:November 7, 2012
Print Release:Print Release
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