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"The Classic Fortifier fills two needs that are particularly important toconsumers: liquidity and control," said Ken DiFrancesca, vice president,retirement and individual products, at Fort Dearborn Life. "This product is animportant addition to our portfolio of fixed and indexed annuities. It isideal for conservative investors who would like to consolidate their assetsinto one tax-deferred vehicle and still exercise the right to withdraw theirfunds if the interest rate drops."
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The Classic Fortifier(TM) is a flexible premium deferred fixed annuitythat accepts deposits during the first 12 months of the contract. All depositsduring the first 12 months of the contract are subject to the same-five yearsurrender charge schedule. The product allows an annual partial surrender ofup to 10 percent of the account value after the first year of the contractwithout incurring surrender charges. A first-year interest rate bonus isapplied to all premiums received in the first 12 months.
A "bail out" feature ensures liquidity for the owner. If the renewal ratefalls below the initial base credited rate, the owner may make a full orpartial withdrawal of the account funds within 30 days after the contractanniversary-without incurring any surrender charges.
The Classic Fortifier has a minimum initial premium of $4,000 and a 100percent waiver on nursing home and terminal illness. The product is not yetapproved in all states. Those interested in the product should contact theFort Dearborn Life Annuity Marketing desk at (800) 282-6363.
With more than 35 years experience, Fort Dearborn Life is among thecountry's leading providers of employee benefits. Fort Dearborn Life marketsgroup life, short- and long-term disability, dental and individual annuityprograms. Fort Dearborn Life has $2.1 billion in assets and $151 billion oflife insurance in force. Fort Dearborn Life is rated A+ (Superior) by A.M.Best Company, affirmed Nov. 1, 2007(1), and is rated A+ (Strong) by Standardand Poor's for financial strength in its most recent report. Fort DearbornLife is a subsidiary of Health Care Service Corporation (HCSC), a Mutual LegalReserve Company.
For more information, please visit Fort Dearborn Life athttp://www.fdl-life.com.
(1) A.M. Best Company rates the overall financial condition of a company
using a scale of A++ (Superior) to F (In Liquidation).
SOURCE Fort Dearborn Life Insurance Company
