![]() “The PlanGap Annuity is the first financial product that empowers people to protect themselves against a future reduction in Social Security benefits while still earning a guaranteed interest rate,” said PlanGAP founder and CEO David Duley in a release. Worried that Congress will fail to re-finance Social Security and simply allow benefits to drop by about 25% across-the-board after 2034? You can now insure that risk with a “ PlanGap Annuity” issued by the American Life & Security Corp., based in Lincoln, Nebraska. ![]() PlanGap Annuity insures against Social Security failure The participation rates for the Credit Suisse Momentum Index are guaranteed for 10 years with the selection of the one-year point-to-point or two-year point-to-point crediting strategies, provided that Sentinel Security Life Insurance Company and Atlantic Coast Life Insurance Company continue to have access to the Credit Suisse Momentum Index. This rider also increases the amount available for free withdrawal from 5% to 10% of the contract holder’s account value and includes a 110% minimum guaranteed return of premium over 10 years. ![]() The contract’s “Rate Enhancement Rider” increases the fixed, participation, and cap rates across the contract holder’s crediting strategies, raising the potential return from market upswings. Implementing a momentum-driven strategy, managers of the index take long positions in components with the strongest trends and short positions in components with weaker trends. The Credit Suisse Momentum Index diversifies its underlying components across equities, bonds and commodities in four global regions. Four of those strategies can be paired with the Credit Suisse Momentum Index. The APP Annuity offers contract holders exclusive access to the Credit Suisse Momentum Index, a 10-year guarantee of participation rates through the index, and a choice of eight crediting strategies. New A-CAP 10-year FIA linked to Credit Suisse Momentum IndexĪ-CAP and AmeriLife have launched the Accumulation Protector Plus (“APP”) Annuity, a 10-year fixed indexed annuity, an addition to the product lines of Sentinel Security Life Insurance Company and Atlantic Coast Life Insurance Company, two A-CAP subsidiaries. New A-CAP 10-year FIA linked to Credit Suisse Momentum Index PlanGap Annuity insures against Social Security failure 80% of older Americans need financial advice: The American College ‘Mercer Wise 401(k)’ passes $1 billion in AUM Completion of Voya-Resolution Life transaction is delayed.
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