MARINA DEL REY, Calif., July 18, 2000 (PRIMEZONE) -- AnnuityScout.com (www.AnnuityScout.com), a leading independent marketplace for no load variable and fixed annuities, announced today that it has reached an agreement to become the first annuity provider for SeniorNet (www.seniornet.org), the world's largest non-profit organization teaching people over 50 how to use computers and the Internet.
The arrangement calls for AnnuityScout to provide essential retirement savings content, enabling SeniorNet visitors to learn about the features and benefits of annuities. A dedicated url (www.AnnuityScout.com/SeniorNet/1) has been established for the AnnuityScout.com/SeniorNet.org partnership.
"We believe that the SeniorNet user is a natural fit for AnnuityScout.com," said AnnuityScout.com Chairman and CEO Gregory G. Yost. "Our no-load variable and fixed annuities can be ideal for people either saving for retirement or for retirees who would simply like to defer taxes. Like SeniorNet, we are committed to the concept of education and believe that an independent and objective marketplace is the best way to educate the public, while offering them value and a choice of products and services."
Ann Wrixon, CEO and President of SeniorNet agrees, "We know that seniors spend more time per month online than any other age group, with more than 83% percent making daily visits to the Internet. We also know that older adults primarily use the Internet as a research tool. With this in mind, AnnuityScout.com and SeniorNet together will help provide direct access to quality tools to help seniors learn about and compare tax-deferred investments."
AnnuityScout.com is an Annuity Marketplace Designed For All Levels of Users
AnnuityScout.com is the web's leading annuity marketplace representing more than 40 highly rated insurance companies. Unlike single-carrier, single-product sites, AnnuityScout is able to maintain its independence from any one company, placing its priorities on the needs of clients. Offline, the company has a state-of-the-art call center, fully staffed with nationally licensed Annuity Specialists. AnnuityScout encourages customers who prefer to speak with a live representative to call in with any questions regarding annuities or specific products.
The AnnuityScout.com web site is specifically designed to meet the needs of all levels of annuity shoppers. The home page offers visitors three distinct paths to choose from. Those new to tax-deferred annuities are offered a series of easy-to-use tools to help them decide if an annuity is right for them. Those familiar with annuities may choose to view a side-by-side selection of current fixed and variable annuities, then begin the sales process by filling out a custom "pre-application." Current annuity owners can compare their investments with current offerings to assess whether or not it is time for a Tax Free Annuity Exchange.
About AnnuityScout.com: "Annuities Done Right"
AnnuityScout.com is an independent annuity service for both consumers and the company's business-to-business alliances. Located at www.AnnuityScout.com, AnnuityScout is the leading online marketplace for no-load annuities. Representing over 40 insurance companies, the comprehensive AnnuityScout "supermarket" is designed to offer products direct to those consumers who want more value from their annuities. AnnuityScout's proprietary technological platform which enables the company to efficiently service the needs of its business-to-consumer clients and its business-to-business alliances both on and offline. The state-of-the-art AnnuityScout call center is staffed with nationally licensed Annuity Specialists. AnnuityScout is a free service of Independent Advantage Financial and Insurance Services, Inc. (IAF). Founded in 1987, IAF has facilitated the purchase of over $1 billion in annuities and high-end life insurance direct to the consumer through marketing alliances and other endorsements. AnnuityScout.com is headquartered in Marina Del Rey, California and can be reached at 1 (800) TAX-CUTS (829-2887).
About the Annuities Industry
LIMRA International (an independent service that monitors the Insurance Industry) reports that overall annuity sales (combined variable and fixed annuities) grew from $98.5 billion in 1995 to (an estimated) $155 billion in 1999. This represents an average annual growth rate of 12%. Variable annuity sales have shown even greater growth. According to The VARDS Report (an independent service that monitors the variable annuity sales), the variable annuity market has grown from $51 billion in 1995 to $121 billion in 1999, a compound annual growth rate of 19%. First quarter 2000 sales for variable annuities reached $35 billion (The VARDS Report), a trend that could make 2000 a record year for variable annuity sales and could push the overall market past $200 billion. The independent Gallup Report estimates there are 11.6 billion current annuity owners "on line" (defined as annuity owners who regularly use the Internet and e-mail.)
About SeniorNet
SeniorNet is based on the belief that computer literacy not only gives older adults access to a world of information and people, but also allows them to share wisdom and knowledge with the rest of the world. Based in San Francisco, SeniorNet began as a small research project in 1986 and now serves as a major international nonprofit organization that has taught over 100,000 older adults to use computers and the Internet. With a global membership of more than 37,000 people, two thriving online communities, a network of over 180 locally run computer Learning Centers and a variety of educational publications, SeniorNet offers comfort and community to a population that was originally neglected in the information revolution. With sponsorship by major corporations and foundations, private and public donations, and a backbone of individual members and contributors, SeniorNet continues to grow and offer new opportunities to those touched by its nonprofit mission.
Licensed employees of Independent Advantage Financial and Insurance Services, Inc. dba AnnuityScout.com, are registered representatives of, and securities are sold through, Sentra Securities Corporation, a registered broker-dealer, member NASD/SIPC.
Variable annuities are sold only by prospectus, which contains complete information on charges, expenses and risk factors. Prospective investors may obtain a free prospectus by contacting AnnuityScout.com at 1 (800) TAX CUTS (829-2887). The prospectus should be read carefully before investing or sending money.
Variable annuities involve investment risks including the possible loss of principal. An investor's contract, when redeemed, may be worth more or less than the original investment amount.
Annuities are designed as long-term retirement savings vehicles. Earnings withdrawn prior to age 59 1/2 may be subject to a 10% federal tax penalty. Individuals should consult their tax advisor for questions regarding their particular situation.