Carmel, Ind., July 15, 2005 – The Conseco insurance companies and The Annuity Store Financial & Insurance Services LLC have strengthened and expanded their distribution relationship through the co-development of a new indexed annuity product – The Conseco Patriot.
Douglas L. McDermott, President of The Annuity Store, said, “Working with Conseco is like working with an old friend. Our partnership dates back over 15 years to our initial collaboration which yielded products that have stood the test of time and continue to be sold today, as well as generating in excess of $1 billion in premium. Conseco has, historically, provided us with a well-balanced, consumer-friendly portfolio of insurance products to offer our distribution channel of independent agents. The Annuity Store believes this new product will follow in the footsteps of its predecessors and become a strong revenue producer. The unique features of this product, combined with Conseco’s strong financials and parent company Fortune 500 ranking will help ensure success.”
“President Doug McDermott and his team at The Annuity Store have built a reputation for creative product concepts that bring value to consumers and producers alike,” said Tom Blackburn, senior vice president and national sales director for annuity products for the Conseco insurance companies. “When The Annuity Store approached us with the opportunity to expand our relationship by co-developing this product, we saw a perfect fit between The Annuity Store’s strong capabilities in marketing, consulting and training and our expertise in product manufacturing, administration and service.”
The Conseco Patriot, launched July 5, offers customers the opportunity for long-term growth without long-term restrictions. This 12-year, flexible-premium product guarantees clients 100% participation in the S&P 500 Index, up to a stated cap, while offering them 100% of earnings without surrender charges. Marketing organizations and agents are encouraged to learn more about Conseco Patriot and Conseco Insurance Company by calling (888) 266-6002.
The Conseco Patriot represents the sixth product introduced by the Conseco insurance companies in 2005, and joins the Conseco 7 product, launched in February with long-time partner Fairlane Financial Corporation, in Conseco’s expanded annuity portfolio. “We are pleased at our progress in building our annuity portfolio and we look forward to strengthening our relationships with our independent distribution partners by building strong products tailored to customer and agent needs,” Blackburn said.
The Annuity Store, based in Sacramento, Calif., is a national insurance wholesaler and consulting firm dedicated to building enduring relationships with independent insurance agents through training; personalized service; sales support; creative solutions and quality products.
The Conseco insurance companies serve millions of customers across America. Conseco’s cancer, heart/stroke, accident and Medicare supplement policies protect people against major unplanned expenses; Conseco’s annuities and life insurance products help people plan for their financial futures.
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“S&P 500 ®”is a trademark of The McGraw-Hill Companies, Inc., and has been licensed for use by Conseco Services, L.L.C. The Conseco Patriot annuity is not sponsored, endorsed, sold or promoted by Standard & Poor’s ®, and Standard & Poor’s makes no representation regarding the advisability of purchasing this product.
Indexes do not reflect dividends paid on the stocks included in the index.
The Conseco Patriot and its riders are subject to state availability.