July 21, 2017 8:19 AM ET

Insurance

Company Overview of Security Benefit Life Insurance Company

Company Overview

Security Benefit Life Insurance Company offers life insurance services in the United States. It offers a portfolio comprising primarily of individual and group annuities, mutual funds, and related product. The company designs variable annuity. It was formerly known as The Security Benefit Association and it changed its name to Security Benefit Life Insurance Company in January 1950. The company was founded in 1892 and is based in Topeka, Kansas. Security Benefit Life Insurance Company operates as a subsidiary of Security Benefit Corporation.

One Security Benefit Place

Topeka, KS 66636-0001

United States

Founded in 1892

Phone:

785-438-3000

Fax:

785-368-1772

Key Executives for Security Benefit Life Insurance Company

Head of Markets
Compensation as of Fiscal Year 2017.

Security Benefit Life Insurance Company Key Developments

Security Benefit Launches New FIA to Help Meet Immediate Retirement Income Needs or Long-Term Legacy Planning Goals

Security Benefit Life Insurance Company announced the launch of its new Select Benefit Annuity, a fixed index annuity (FIA) which offers contract-holders the unique ability to accelerate the amount of income taken in the first 10 years, a time when many recently retired Americans are active spenders on a number of endeavors, including hobbies, travel and grandchildren. The newest single premium fixed index annuity features a new, optional Accelerated Income Rider that offers clients the ability to secure higher annual income for the first 10 years after starting income without jeopardizing clients’ long-term financial security. Select Benefit Annuity also offers additional flexibility with the optional Legacy Preservation Rider, which is designed for clients with the desire to be able to transfer wealth to loved ones. The new product features nursing home and terminal illness waivers, and a free withdrawal — beginning in the first contract year — of up to 5% of the purchase payment (for the first year) or the prior year’s contact anniversary account value beginning in the second year.

Security Benefit Introduces First Floating Rate Annuity

Security Benefit Life Insurance Company announced the launch of its new RateTrack Annuity designed specifically to allow clients the opportunity to participate automatically in a rising interest rate environment versus being locked into a long-term, uncompetitive rate. RateTrack is the floating rate annuity, a new category of fixed annuities designed to add a component to a client's portfolio that automatically responds to a rising interest rate environment. The RateTrack Annuity features a unique interest crediting method that, unlike a typical multi-year guarantee annuity, offers an initial competitive interest rate and then the opportunity for higher interest rates over the life of the contract. RateTrack is built on three key concepts. First, its design offers a competitive first year rate similar to many other fixed investments and other multi-year guarantee annuities. Second, unlike most other fixed annuities, if interest rates increase in subsequent years, RateTrack rates automatically adjust higher. And third, it offers a guaranteed minimum rate, which protects principal value as interest rates rise, unlike fixed income investments that often have an inverse relationship to rising interest rates.

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