Modern Woodmen of America has announced the launch of a new product, MyLinked Annuity.
The MyLinked Annuity is a single premium deferred annuity with index-linked crediting options, and it is the most recent addition to the Rock Island-based fraternal financial services organization’s product lineup.
Available in most states, Modern Woodmen’s MyLinked Annuity has more growth potential than a traditional fixed annuity, without the risk of market losses, a news release from Modern Woodmen said. It’s intended to help those close to retirement who want to protect and build their nest egg.
“We’re proud to offer this new product,” Modern Woodmen’s Chief Distribution & Marketing Officer and Senior Vice President Jeff Sowards said in the release. “It’s a way to help people secure hard-earned retirement money, with the opportunity for growth. It’s another way Modern Woodmen can support strong financial futures.”
The product offers a fixed-interest track and four index-linked tracks that are designed to help people align their potential for growth with their risk appetite, the organization said.
The fixed-interest track offers a current interest rate, guaranteed for one-year terms. The four index linked tracks buy at the current index value and are credited on the annual renewal date, based on the change in index value over that period.
Interest crediting for the indexed tracks is linked to two indices designed by Franklin Templeton, the release said. They are the Franklin US Core Index and Franklin US Core Balanced Index. For information about these options, visit these Franklin Templeton websites:
Available at additional cost is an optional guaranteed lifetime withdrawal benefit rider which can provide future guaranteed lifetime income during retirement, the release said.
To learn more, contact your local financial representative here.
