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
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."
National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT, Life Insurance Company of the Southwest (LSW), Addison, TX, and their affiliates. LSW is not an authorized insurer in New York and does not conduct insurance business in New York. Each company of the National Life Group is solely responsible for its own financial condition and contractual obligations.
1 Guarantees are dependent on the claims paying ability of the issuing Company.
Annuity products issued by Life Insurance Company of the Southwest. Securities and variable products can be offered solely by representatives registered to offer such products through a broker/dealer. Life Insurance Company of the Southwest neither issues nor underwrites securities or variable products.
SecurePlus VIP is Policy Form No. 8891(0910), along with Rider Form No. 7965, 7966, or state variations thereof. Not available in all states.
National Life Group
1 National Life Drive
Montpelier, VT 05604
Contact: Suzanne Krenz
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