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September 1, 2017updated 04 Sep 2017 11:59am

Eagle Life Insurance launches no-commission fixed index annuity

Eagle Life Insurance Company, a subsidiary of a fixed index annuity (FIA) provider American Equity Investment Life Insurance Company, has rolled out a no-commission fixed index annuity product.

Dubbed Eagle Advisory 8, the new annuity offers principal protection with guaranteed income and transparent interest crediting opportunities through the S&P 500 Index.

The Eagle Advisory 8, similar to all Eagle Life FIA products, provides flexible interest crediting strategies based on the S&P 500 Index, principal and credited interest protection from index volatility, with the option of a lifetime income rider.

Eagle Life president Ron Grensteiner said: “Eagle Life’s Eagle Advisory 8 broadens our annuity suite to help the clients of Registered Investment Advisors (RIAs) and fee-based advisors who are looking for the preservation strengths and lifetime income stability our products can provide.

“As a broker-dealer annuity carrier we are committed to offering our representatives straight-forward products backed by superior service. This addition to our product line allows us to deliver those qualities to a wider audience, helping more clients reach their retirement goals.”

Eagle Life senior vice president Jeff Varisco said: “Guaranteed retirement income that cannot be outlived is a top priority amongst our representatives’ clients. We are excited to bring our product benefits to a new market and give consumers more fee-based options.”

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