TruStage™, an insurance, investment and technology provider, focused on making brighter financial futures accessible for all, today announced enhancements to its Zone Income Annuity underwritten by MEMBERS Life Insurance Company. The changes help allow TruStage to better meet modern client expectations for customized investment and income options.
More guaranteed income withdrawal flexibility to become available for new and existing contract holders
With new withdrawal flexibility for both existing and new contracts, clients can begin receiving guaranteed lifetime income as early as two business days after the contract is issued and can change from single to joint lifetime income any time before lifetime income begins. Clients will also be able to withdraw any amount up to the full lifetime income payment, to help accommodate individual income needs.
The new index offerings for TruStage’s Zone Income annuity include the Dimensional US Small Cap Value Systematic Index and the Barclays Risk Balanced Index. The Dimensional index is designed to pursue higher return potential by systematically excluding the lowest expected return stocks in the US small cap market, such as companies with low profitability and high asset growth. The Barclays index aims to provide stable returns through a dynamic portfolio with exposure to low volatility stocks and US Treasuries, targeting 10% volatility. Zone Income’s declared rate account is also being updated, resetting the renewal rate annually to align with cap rate renewals. Additionally, surrender charges in the first two contract years have been reduced from 9% to 8%.
"Providing clients with greater power over their financial futures is vital to our work at TruStage. With these enhancements to our Zone Income annuity, investors will be better able to adapt the product to a variety of lifestyle considerations and income needs," said Dave Hanzlik, Vice President of Annuity & Retirement Solutions.
Zone Income is a simple, innovative retirement solution that leverages the power of risk control to provide the best of two worlds – flexible guaranteed income and strong growth potential. With four indices and a declared rate account to choose from, clients can customize a personal blend of upside potential and a measure of downside protection with powerful safeguards against outliving their assets.
For more information on Zone Income or any of TruStage annuities, please contact the TruStage Annuities sales desk at 877.345.GROW (4769) or visit www.trustage.com/annuities.
About TruStage
TruStage is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit www.trustage.com.
