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CHICAGO, Il (October 6, 2008) - Bankers Life and
Casualty Company, a national life and health insurer, has introduced its newest
annuity product, the GrowthPointSM indexed annuity.
The fourth indexed product to be added to the Bankers Security BuilderTM
annuity series, the new offering uses point-to-point indexing to calculate
S&P 500® gains. The indexed products combine the simplicity of
fixed annuities with the opportunity to earn returns linked to the S&P 500®
Index, allowing clients to experience stock market gains without downside
market risk.
"Annuities offer clients a safe and reliable way to achieve their retirement
goals," explains Scott Perry, president of Bankers Life and Casualty Company, a
national life and health insurer serving the retirement needs of the middle
market. "As the only savings vehicle that can guarantee payments for life,
annuities provide an excellent solution for people who are concerned about
outliving their retirement savings, and the fact that their earnings grow on a
tax-deferred basis make them an even more attractive way to save."
The new GrowthPointSM product enhances the company's annuity
portfolio by offering a straightforward point-to-point indexing methodology,
which looks only at the S&P 500® values at the beginning and end
of the policy year.
GrowthPointSM also offers a 100% participation rate. The product's
index cap, rather than its participation rate, determines the growth that can
be applied to the policy in a given policy year.
"The new GrowthPointSM is a welcome addition to our annuity product
line," adds Perry. "It allows us to offer a broader array of annuity products
suited to perform under a wide range of market conditions."
The Bankers GrowthPointSM indexed annuity is currently available
through Bankers' career agents in all states except New York and Minnesota.
About Bankers Life and Casualty Company
Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on
the insurance needs of the retirement market. The nationwide company, a
subsidiary of Conseco, Inc., offers a broad portfolio of life and health
insurance retirement products designed especially for seniors. Visit us online
at www.bankers.com.
"S&P®," "S&P 500®," "Standard & Poor's 500,"
"Standard & Poor's®," and "500" are trademarks of the
McGraw-Hill Companies, Inc. and have been licensed for use by Bankers Life and
Casualty Company. The annuities referenced herein are not sponsored, endorsed,
sold, or promoted by Standard & Poor's and Standard & Poor's makes no
representation regarding the advisability of purchasing these products.
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