MARINA DEL REY, Calif., August 30, 2000 (PRIMEZONE) -- AnnuityScout.com (www.AnnuityScout.com), an independent marketplace for no-load variable and fixed annuities, announced today that it is the first annuity provider on the Abilizer Employee Portal(tm). Employees at more than 70 leading companies using the Abilizer Employee Portal(tm) now have easier and faster access to the tools and information they need to learn about, compare and buy no-load tax-deferred annuities, as well as to see how the power of tax-deferred compounding can make annuities an important part of an investment portfolio.
The Abilizer Employee Portal provides information and expert advice to help employees effectively navigate work and life demands at work and at home. For example, employees can manage their personal investments, find childcare, plan a move, buy auto insurance and now buy an annuity. An annuity is a contract between an individual and an insurance company where earnings are allowed to grow and compound without current taxes.
"Abilizer was founded to help companies and their employees meet the challenge of integrating the demands of work and life," said Ken Rutsky, vice president of programming at Abilizer Solutions Inc. "As part of the finance channel on the Abilizer Employee Portal, AnnuityScout joins industry leaders providing content, goods and services that enable employees to efficiently manage their personal finances at work and at home by providing information, expert advice and services."
According to AnnuityScout.com chairman and CEO Gregory G. Yost, no-load variable and fixed annuities will be appealing to Abilizer users because they have easier and faster access to the tools and information needed to make a decision. "AnnuityScout is thrilled to have formed a 'work-site' relationship with Abilizer," Yost said. "Abilizer is committed to enhancing the relationship between employers and employees, and the addition of tax-deferred annuities fits well with the other financial services and products offered. Annuities often are the right savings vehicle for workers who already take full advantage of their 401Ks and IRAs and are looking to invest more for their retirement on a tax deferred basis. AnnuityScout is excited to join with Abilizer in helping employees around the country prepare for their futures," he added.
AnnuityScout.com is an Annuity Marketplace Designed for All Levels of Users
AnnuityScout.com is the Web's leading annuity marketplace representing more than 50 highly rated insurance companies. Unlike single-carrier, single-product sites, AnnuityScout maintains 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.
The AnnuityScout.com Web site is specifically designed to meet the needs of all levels of annuity shoppers. The home page offers visitors four distinct paths from which to choose. 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 purchase 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. The final path detours "offline" as the "Call Me" button enables Web visitors to schedule their own phone appointment with an Annuity Specialist at the date and time requested by the customer.
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 more than 40 insurance companies, the comprehensive AnnuityScout "supermarket" offers products direct to those consumers who want more value from their annuities. AnnuityScout's proprietary technological platform 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.com is a free service of Independent Advantage Financial and Insurance Services, Inc. (IAF). Founded in 1987, IAF has facilitated the purchase of more than $1 billion in annuities and high-end life insurance direct to the consumer through marketing alliances and other endorsements. AnnuityScout.com has financial backing from Chase Capital Partners, Ravenswood Capital and ETF Group. The company 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 percent. 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 percent. 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 Abilizer Solutions, Inc.
Founded in 1998, Abilizer Solutions, Inc., based in San Francisco, provides a platform for transforming the workplace by strengthening the relationship between employee and employer, and enabling employees to effectively navigate their work and life needs at work and at home. Abilizer has more than 70 leading companies, representing over 2 million employees, providing the Abilizer Employee Portal to their employee desktops. These companies include Ace Hardware, ACS, Applied Materials, Cendant, EDS, Ericsson, Fluor, HOK, Oracle, PeopleSoft, RE/MAX, Robertson Stephens, Sun Microsystems and Visa. Abilizer is privately held and funded by leading corporations and private equity firms including Technology Crossover Ventures, Thomas Weisel Capital Partners, the Blackstone Group, Cendant, Information Technology Ventures, US Venture Partners, Comdisco Ventures, the European Web Group, E*Trade and Dorset Capital.
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 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.
Abilizer is a trademark and Abilizer Employee Portal is a service mark of Abilizer Solutions, Inc.
Additional information on Abilizer Solutions, Inc. is available on the Internet at http://www.abilizer.com, by calling 415-216-0100, or sending email to info@abilizer.com