A new fixed index annuity built for fee-only advisers and their clients
LOUISVILLE, Ky., Jan. 29, 2019 (GLOBE NEWSWIRE) — Today, DPL Financial Partners (“DPL”), the insurance network for registered investment advisors (“RIAs”), and Security Benefit Life Insurance Company (“Security Benefit”) launched a new fixed index annuity built in response to feedback from DPL’s RIA members.
The commission-free1 fixed index annuity – ClearLine – has a simplified product structure and provides a rising income feature that increases income payouts each year.
“The launch of this ClearLine FIA reflects the power of the DPL network in action,” said DPL Founder and CEO David Lau. “We gathered feedback from our members about product features and design. And we found a great partner in Security Benefit to build it. We are excited to enable our members to leverage the principal protection and increasing lifetime income benefits this product provides for their clients. ”
“This is a powerful retirement savings and income solution designed for consumers who work with RIAs and fee-only advisors,” said Doug Wolff, President of Security Benefit, “and is a continuation of our commitment to develop innovative annuity products to distribute through our partnership with DPL Financial Partners. ClearLine can provide RIAs and their clients some of the upside potential of the equity markets, with zero downside risk, and access to lifetime income solutions.”
Built from the ground up
“We worked closely with DPL to build ClearLine from the ground up,” added Wolff. “We developed the product and included features based on direct input from advisers. We are able to offer very competitive cap rates, spreads, participation rates, and payouts in this product, and we believe ultimately deliver great consumer value.”
The optional Rising Income Rider pays rising income for life and has an elective withdrawal feature for non-qualified contracts that may reduce the tax burden for some retirees by spreading the taxable gain portion of the income payments over a longer time period.
For more information, please contact DPL at the number below.
1 DPL is paid an administration fee by the carrier for creating the infrastructure through which it makes policies available on behalf of the carrier for its RIA members. This infrastructure includes product education, licensing capabilities and the broker/dealer (for variable products).