Beacon Research has released the names of the top-yielding certificate-type fixed annuities, as of June 15, 2009. The effective yield of Protective Life Insurance Company’s 15-year ProSaver Platinum fell to 5.25% from 5.45%.
The yields of the other leading contracts were unchanged from the week before. Protective Life’s four-year ProSaver Platinum was absent from this week’s list.
Certificate-type contracts are products that have interest rate terms that equal or exceed the surrender charge or that waive the surrender charge at the end of the selected rate term (window waiver).
| Top Yielding Certificate Type Fixed Annuities* as of 6/15/2009 |
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|---|---|---|---|---|---|---|---|
| Company Name | Product Name | Rate Term (Years) | Minimum Guaranteed Rate | Base Rate | Bonus Rate | Bonus Length (years) | Effective Yield** |
| Liberty Bankers Life Insurance Company | Bankers 1 | 1 | 1.00% | 2.75% | 0.00% | N/A | 2.75% |
| West Coast Life Insurance Company | Sure Advantage | 2 | 1.50% | 1.50% | 0.50% | 1 | 1.75% |
| Protective Life Insurance Company | FutureSaver II | 2 | 1.50% | 1.50% | 0.50% | 1 | 1.75% |
| Protective Life Insurance Company | ProSaver Platinum | 2 | 0.00% | 1.75% | 0.00% | N/A | 1.75% |
| Liberty Bankers Life Insurance Company | Bankers 3 | 3 | 1.00% | 3.55% | 0.00% | N/A | 3.55% |
| United Life Insurance Company | SPDA | 4 | 1.05% | 3.50% | 0.00% | N/A | 3.50% |
| Security Benefit Life Insurance Company | Security Benefit Choice Annuity | 5 | 1.50% | 5.10% | 0.00% | N/A | 5.10% |
| Security Benefit Life Insurance Company | Security Benefit Choice Annuity | 6 | 1.50% | 4.60% | 0.00% | N/A | 4.60% |
| Security Benefit Life Insurance Company | Security Benefit Choice Annuity | 7 | 1.50% | 5.10% | 0.00% | N/A | 5.10% |
| Protective Life Insurance Company | ProSaver Platinum | 8 | 0.00% | 4.55% | 0.00% | N/A | 4.55% |
| American General Life Insurance Company | AG HorizonChoice | 9 | 2%/3% | 4.90% | 0.00% | N/A | 4.90% |
| Greek Catholic Union of the U.S.A. | GCU Flex Annuity | 10 | 3.00% | 5.25% | 0.00% | N/A | 5.25% |
| Protective Life Insurance Company | ProSaver Platinum | 15 | 0.00% | 5.25% | 0.00% | N/A | 5.25% |
| *Certificate type contracts are products that have interest rate terms that equal or exceed the surrender charge or that waive the surrender charge at the end of the selected rate term (window waiver). | |||||||
| **Effective yield prorates the bonus rate equally over the surrender charge period. | |||||||
| Source: www.AnnuityNexus.com, Beacon Research, Evanston, Illinois | |||||||
Founded in 1997, Beacon Research maintains the AnnuityNexus database, the only U.S. fixed annuity information source to feature 100% carrier-approved product profiles and to track and analyze product-level sales for all types of fixed annuities on a quarterly basis.
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