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FOR IMMEDIATE RELEASE March 5, 2013
HOUSTON – Forethought Financial Group, Inc. (Forethought), through its Forethought Life Insurance Company subsidiary, has launched the ForeRetirement variable annuity with daily benefit options, available in B, C and L share classes, marking the company’s first entry into the variable annuity marketplace.
“The launch of ForeRetirement is the next step in Forethought’s strategy to deliver leading financial solutions for America’s senior middle market. This is a logical addition to our product lineup and a significant milestone for the company. Americans are approaching retirement in record numbers, and ForeRetirement offers valuable features to help retirees overcome the challenges they face during retirement,” said Forethought Chairman, President and CEO John Graf.
ForeRetirement features optional living benefits for income needs, as well as death benefit options for legacy objectives, including choices with daily growth potential. The product launch also coincides with a complete redesign of the company’s website, Forethought.com, with a fresh new look, updated features and intuitive interface.
“ForeRetirement offers compelling features for customers while also providing an exciting new annuity product for financial advisors. As other providers have exited the market or limited production, Forethought is pleased to be a new partner to financial advisors and their firms with our innovative product suite,” said Robert Arena, President, Forethought Annuity.
ForeRetirement will be distributed in partnership with many leading national, regional and independent broker/dealers, as well as financial institutions. It has been approved in 49 states and the District of Columbia, covering all jurisdictions where Forethought Life Insurance Company issues variable annuity business.
Daily benefit options
ForeRetirement’s optional Daily Lock Income Benefit guarantees lifetime withdrawals for retirees as a percentage of the benefit base, which can grow through favorable investment performance. The benefit captures new contract value highs on a daily basis, known as “step-ups,” up to age 90. A six percent simple-credit deferral bonus will prevail annually when it is more favorable. Deferral bonuses are available until the tenth contract anniversary or first withdrawal, if sooner.
A Live & Give strategy
Electing the Legacy Lock death benefit option alongside the Daily Lock Income Benefit offers retirees a “Live & Give” strategy to help simultaneously protect their income and legacy. Legacy Lock is an innovative death benefit option available within ForeRetirement if an income benefit is also elected.
With Legacy Lock, retirees have the potential to provide beneficiaries with death benefit proceeds at least equal to the amount of premium invested. The death benefit will not reduce for withdrawals, unlike traditional annuity death benefits, as long as the benefit’s requirements and guidelines are met.
As a variable annuity, all ForeRetirement contracts provide tax-deferral, professionally managed investment options and flexible payouts. Values will fluctuate with investment performance, and the annuity may gain or lose value. Charges and fees will also reduce its value.
Optional benefits are only offered with the purchase of the variable annuity and are available for an additional charge. All guarantees are based on the claims-paying ability of Forethought Life Insurance Company and assume compliance with the benefit rules.
About Forethought Financial Group, Inc.
Founded in 1985, Forethought Financial Group, Inc. is a privately-held, diversified financial services organization based in Houston, Texas, with insurance operations throughout the United States. Forethought provides life insurance and annuities that help America’s senior middle market plan for their pre-retirement, retirement and end-of-life needs through key third-party distribution relationships.
Forethought’s experienced leadership and financial discipline underlie strong growth and success in the marketplace. With a targeted strategy and multifaceted product lines, Forethought delivers enduring value to customers, distribution partners and shareholders.
Executive Vice President
Forethought is Forethought Financial Group, Inc., and its subsidiaries, including Forethought Life Insurance Company, which is the issuer of annuities. Variable annuities are underwritten and distributed by Forethought Distributors, LLC, member FINRA.
Variable annuities are sold by prospectus. The prospectus contains investment objectives, risks, fees, charges, expenses, and other information regarding the variable annuity contract and the underlying investments, which should be considered carefully before investing money. You can obtain a prospectus from your financial advisor or by visiting www.forethought.com.