American National Life Insurance Company of New York is Proud to Announce an Indexed Universal Life Policy with Multiple Indexed Strategies- the Signature Indexed Universal Life Policy is Now Availabl

GLENMONT, N.Y., April 04, 2016 (GLOBE NEWSWIRE) -- American National Life Insurance Company of New York (American National) announces the Signature Indexed Universal Life Insurance (IUL) policy is available in New York [April 4, 2016]. These life insurance policies provide a combination of death benefit and accumulation value to provide for protection and growth potential. This innovative life product provides death benefit protection, four indexed crediting strategies, and a fixed account.

Signature IUL can provide the opportunity to earn interest based upon the performance of the S&P 500® Index without the client being directly invested in the Index. Therefore, the accumulation value will never decrease based on the fluctuations of the S&P 500® Index as all four of the indexed interest crediting strategies have a built-in floor. One of the Indexed Strategies currently has a declared floor of 1.5% so that strategy can earn interest even in the event of a decrease in the market*.  Another strategy available on the Signature IUL is an uncapped strategy with an interest rate spread which compares the value of the S&P 500® Index at the beginning of the one‐year segment term to the value at the end of the segment term and measures the percentage of increase or decrease. With this strategy, an interest rate spread is then deducted from the interest earnings in exchange for the benefit of not having a cap on potential interest. This is a strategy that may work well in a rapidly increasing market.

Signature IUL will provide clients the permanent protection their families need along with the opportunity to increase accumulation value for future emergencies, college education or supplemental retirement income. The Signature IUL has multiple uses while providing family protection.

This product also includes, at no additional premium, the Accelerated Benefit Rider for Terminal Illness. In the event of being diagnosed with an illness that is expected to result in death within 12 months, the policy owner will be eligible to accelerate a portion of their death benefit in advance.  An administrative fee (not to exceed $300) will be deducted from the initial Accelerated Benefit.

David A. Behrens, President and Chief Operating Officer of American National Life Insurance Company of New York stated, “American National’s Signature IUL now offers New York clients extra control when it comes to their life insurance premiums. Along with the peace of mind provided by the Accelerated Benefit Rider for Terminal Illness, they now have the choice to place their premium in various indexed strategies or a fixed account while guaranteeing that their family’s future will be protected.”

Financial Strength Ratings

American National Life Insurance Company of New York has been evaluated and assigned the following ratings by nationally recognized, independent rating agencies.  The ratings are current as of [September 2015].

A.M. Best1                        A

“An excellent ability to meet their ongoing insurance obligations”

Standard & Poor’s2         A

“Strong capacity to meet financial commitments but somewhat susceptible to adverse economic conditions and changes in circumstances”

Ratings reflect current independent opinions of the financial capacity of an insurance organization to meet the obligations of its insurance policies and contracts in accordance with their terms.  They are based on comprehensive quantitative and qualitative evaluations of the company and its management strategy.  The rating agencies do not provide ratings as a recommendation to purchase insurance or annuities.   The ratings are not a warranty of an insurer's current or future ability to meet its contractual obligations.

Ratings may be changed, suspended, or withdrawn at any time.  For the most current ratings visit American National Life Insurance Company of New York Internet site at www.anicony.com.

1 A.M. Best’s active company rating scale is: A++ (Superior), A+ (Superior), A (Excellent), A- (Excellent), B++ (Good), B+ (Good), B (Fair), B- (Fair), C++ (Marginal), C+ (Marginal), C (Weak), C- (Weak) and D (Poor).

2 Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.  For a full list of Standard & Poor’s active company rating scale visit www.standardandpoors.com.

*From policy month to policy month the accumulation value may decrease due to the monthly deduction regardless of the interest rate credited for any particular strategy.

The Signature Indexed Universal Life Insurance policy is not a registered security or stock market investment and does not directly participate in any stock or equity investment or index. When an individual purchases the policy, the individual is not buying an ownership interest in any stock or index.

Indexed strategies earn interest related to the performance of the S&P 500® Index. The amount of interest an indexed strategy earns depends on a number of factors including: index performance, participation rate, cap, segment term, and the minimum guaranteed interest rate for indexed strategies. The performance of the index cannot be predicted over any given period of time. Past history of the Index is no guarantee of future performance. There is not one particular interest crediting strategy that will deliver the most interest under all economic conditions. American National and its agents do not make any recommendations regarding the selection of indexed strategies. American National and its agents do not guarantee the performance of any indexed strategies.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by American National Life Insurance Company of New York. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by American National. American National’s products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

Policy Form Series: IUL14(NY), ULPTP14(NY), ULSR14(NY), ULNC14(NY), ADB11(NY)

NYIMG0717

 

Contact: Angie Hitchman PH: 877-755-2667

Source: American National Insurance Company

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