TOPEKA, Kan., June 19, 2013 (GLOBE NEWSWIRE) -- In a release issued by Security Benefit on June 18, 2013 with the same headline, please note that the second paragraph incorrectly cited "Wink's Sales & Marketing Report (formerly AnnuitySpecs)." The correct and full citation should be "Wink's Sales & Market Report, 1st Quarter 2013 (formerly AnnuitySpecs.com)."
The corrected release follows:
Security Benefit Life Insurance Company, a leading provider of retirement savings and income vehicles, announced today the introduction of an innovative interest-crediting option for its Total Value Annuity (TVA), the nation's top-selling Fixed Index Annuity. The new crediting option, the Transparent Value Blended Index Account, based on the Transparent Value Blended IndexSM (TVBI), uses a dynamic, highly disciplined asset allocation process to blend a large-cap stock index and a U.S. Treasury index to reduce the impact of equity market volatility while increasing diversification and the potential to receive interest credits.
"Since its introduction in April, 2012, TVA has quickly become one of the best-selling FIAs in the U.S.," said Michael P. Kiley, Security Benefit Corp's Chief Executive Officer, citing the most recent quarterly sales data from Wink's Sales & Market Report, 1st Quarter 2013 (formerly AnnuitySpecs.com). "We believe the addition of the Transparent Value Blended IndexSM, an uncapped crediting option that seeks to provide positive interest credits, will make TVA even more attractive to those in or near retirement."
TVBI utilizes a proprietary process known as Required Business Performance® (RBP®) Methodology to allocate assets among 100 stocks to the Transparent Value Large-Cap Defensive IndexSM selected from the 750 stocks that comprise the Dow Jones U.S. Large-Cap Total Stock Market Index. A second index, the S&P® 2-Year U.S. Treasury Note Futures Total Return Index is then blended with the Transparent Value Large-Cap Defensive Index to reduce volatility. Selection and weighting of individual stocks are driven by the RBP Methodology, which makes a mathematical assessment of the probability that management can deliver the revenue growth needed to support a company's current stock price.
"The RBP® Methodology doesn't try to select winning stocks but rather tries to avoid those with low probability of generating the Required Business Performance®," said Julian Koski, Co-Founder and Senior Portfolio Manager, Transparent Value. "It is essentially a defensive strategy designed to build and, importantly, maintain a portfolio of 100 individual stocks that are believed to have less volatility than the broad market."
For more information about Total Value Annuity, including the Transparent Value Blended IndexSM and other innovative features, please call Security Benefit at (800) 888-2461.
The Total Value Annuity (Form 5700 (3-12) and ICC12 5700 (3-12)), a fixed index flexible premium deferred annuity contract, is issued by Security Benefit Life Insurance Company. Product features and availability may vary by state.
Guarantees provided by annuities are subject to the financial strength of the issuing insurance company. Annuities are not FDIC or NCUA/NCUSIF insured; are not obligations or deposits of, and are not guaranteed or underwritten by any bank, savings and loan or credit union or its affiliates; are unrelated to and not a condition of the provision or term of any banking service or activity.
Fixed indexed annuities are not stock market investments and do not directly participate in any equity, bond, other security or commodities investments. Indices do not include dividends paid on the underlying stocks, and therefore do not reflect the total return of the underlying stocks; neither an index nor any fixed index annuity is comparable to a direct investment in the equity, bond, other security or commodities markets.
The Transparent Value Blended IndexSM (the "Index") is the property of Transparent Value, LLC, which has contracted with S&P Dow Jones Indices LLC or its affiliate ("S&PDJI") to maintain and calculate the Index. Transparent Value, LLC and S&PDJI shall have no liability for any errors or omissions in calculating the Index. The Transparent Value Blended Index Account based on the Index is not sponsored, endorsed, sold or promoted by Transparent Value, LLC, S&P Dow Jones Indices LLC, its affiliates or their third party licensors and neither Transparent Value, LLC, S&P Dow Jones Indices LLC, its affiliates nor their its third party licensors make any representation regarding the advisability of allocating to the Transparent Value Blended Index Account.
Security Benefit Life Insurance Company and Transparent Value, LLC, are affiliated companies. Security Benefit Life Insurance Company pays a licensing fee to Transparent Value, LLC, for permission to use the Transparent Value Blended IndexSM. You may wish to take these facts into consideration when deciding whether to allocate money to the Transparent Value Blended Index Account.
About Security Benefit Corporation
Founded in 1892, Security Benefit Corporation, a Guggenheim Partners Company, is a leading provider of savings and income solutions for America's pre- and post-retirees. Security Benefit Corporation targets multiple wealth segments and channels of distribution through an independent, merit-based distribution structure. By leveraging Guggenheim Investments' superior general account management capabilities into highly competitive products, Security Benefit Corporation focuses on the retirement savings market providing a full range of services to independent distributors including broker/dealers, IMOs, and other financial service providers. Security Benefit is indirectly controlled by Guggenheim Partners, LLC. To learn more about Security Benefit, visit www.securitybenefit.com.