Carmel, Ind. October 19, 2006 - Conseco Insurance Company, a life and health insurance company, today introduced its newest annuity product, Conseco Command(SM). This new product is a single-premium, indexed annuity that offers clients a persistency bonus of up to 10%, and “free-out?? opportunities to access account funds without surrender charges.
“Jointly developed by Conseco Insurance and Actuarial Development Services, L.L.C., Conseco Command was designed using input from distributors, responding to their clients' needs for flexibility,?? said Mike Dubes, president of the Conseco insurance companies. “Conseco Command gives clients more choices, including choice of term length, crediting methods and contract riders. With this new product, agents have an opportunity to earn strong compensation from a product with competitive and client-friendly features.??
Conseco Command provides predetermined “free-out?? windows for clients to access all or part of their funds without surrender charges. At the beginning of the contract, clients may choose a 4-, 8- or 12-year free-out option.
Clients may also elect to have no free-out opportunities, weighing the possibility of higher credited rates over the longer term against the benefits of early access. All options provide surrender charge-free access to account value after year 16.
For clients who keep their annuity contracts in force for at least six years, Conseco Command pays a persistency bonus of up to 10%. The persistency bonus increases annually after year six, vesting at 1% per year. Clients who keep their annuity contract for the entire 16-year contract term or longer could earn a 10% persistency bonus, depending upon age at contract issue.
With Conseco Command, clients can allocate funds among the product’s four growth options and can change their allocations on each contract anniversary.
An enhanced death benefit rider is available for annuitants under the age of 76 who purchase Conseco Command. This optional rider guarantees that the contract’s beneficiaries will receive up to 200% of the value of paid contributions, minus withdrawals, if the contractholder dies before the contract is annuitized. Additional benefits available with Conseco Command include a nursing care rider and a terminal illness rider, both available at no additional cost.
Conseco Command is the first new product developed through a partnership announced in 2005 between Conseco Insurance and Actuarial Development Services, L.L.C. (ADS). Marketing organizations and agents are encouraged to learn more about Conseco Command and Conseco Insurance Company by calling (888) 266-6002.
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. Visit us at www.conseco.com.
Conseco Command and its riders are subject to state availability.
“S&P 500®?? is a trademark of The McGraw-Hill Companies, Inc., and has been licensed for use by Conseco Services, L.L.C. Conseco Command 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.