Carmel, Ind., March 13, 2006 -- A powerful new relationship in the fixed annuity market pairs a subsidiary of one of the nation's largest insurers with an established nationwide independent distribution channel.
Washington National Insurance Company, a Conseco insurance company, and Legacy Marketing Group have signed an agreement to jointly develop fixed annuities and distribute the products through the independent channel.
The first product of this new alliance hits the market today -- RewardMark(SM), a flexible premium deferred index annuity developed by both companies. RewardMark(SM) will be issued by Washington National and distributed through Legacy.
The Washington National/Legacy alliance reflects the shared goals and values of both companies -- products valued by consumers, a deep commitment to independent agents and an appetite for growth. Through this agreement, Legacy's independent wholesaler team is the sole distributor of Washington National's fixed annuity products for the individual market.
Mike Dubes, president of Conseco Insurance, described the new alliance as a natural fit for both organizations. "Legacy is widely-known and respected as a leading independent distributor of fixed annuities. Conseco's strategy is to partner with top organizations like Legacy to expand the distribution of our products through the independent channel," he said.
Legacy President Preston Pitts said Conseco fits his company's strategic goal of finding an insurance carrier with a capacity for fixed annuity premium generated by Legacy's independent distribution channel.
"Conseco fulfills all of our criteria," said Pitts. "This relationship reflects our vision to align our established distribution channel and solid product development division with a carrier that is committed to growing premium."
The RewardMark(SM) product's features for clients include premium bonus, first-year liquidity, full account value at death, lower surrender charges for older issue ages, and multiple crediting rate strategies -- including one with no cap.
Agents who would like more information may call 800-395-1053, ext. 4002.
The Conseco insurance group, comprised of the insurance company subsidiaries of Conseco, Inc. (NYSE: CNO) based in Carmel, Indiana, serves over 2 million customers across America. The Conseco insurance companies offer supplemental health and life insurance products and annuities to working families and seniors.
Legacy's strategic alliances with multiple insurance carriers provide a "one-stop shop" for a broad range of fixed annuities. Driven by a network of independent agents, Legacy has generated nearly $13 billion in fixed annuity premiums since the company was founded in 1993. The company is based in Northern California and has an office in Rome, GA.
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