3 more equity index annuities make mkt. debuts. (products from Delta Life and Annuity Co., Transamerica Life Insurance and Annuity Co. and Unity Mutual Life Insurance Co.)

National Underwriter Life & Health-Financial Services Edition, December, 1996 by Koco, Linda

Insurance companies have rolled out three new equity index annuities (EIA), boosting the total number of EIA products on the market to nearly two dozen. The new products include Delta Life and Annuity Co.'s Index Advantage International, Transamerica Life Insurance and Annuity Co.'s Select Index Annuity and Unity Mutual Life Insurance Co.'s Single Premium Indexed Deferred Annuity.

Differentiation in equity index annuities has already begun, with newer EIAs diverging in design or markets from the original ones that came out earlier this year.

EIAs are fixed deferred annuities that guarantee minimum interest earnings but link excess earnings to increases in an identified equity index. Promoters say the products allow clients to participate in increases that...

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