Patent Pending on Innovative Product That Provides Safety, Stability And
Predictability Within Today's Volatile Marketplace
NORTHBROOK, Ill., April 1 /PRNewswire-FirstCall/ -- Recognizing that
recent historically low-interest rates and a volatile stock market have left
many consumers cautious about investing, The Allstate Corporation introduces
the Allstate(R) Treasury-Linked Annuity, the first flexible premium deferred
fixed annuity that provides a guaranteed five-year rate plus the unique
ability to earn additional interest based upon the performance of the five-
year U.S. Treasury rate. The first of its kind, Allstate has applied for a
patent on the Allstate(R) Treasury-Linked Annuity. The new Allstate(R)
Treasury-Linked Annuity provides security, predictability and flexibility to
investors with the potential to earn interest beyond the guaranteed rate.
"As the Baby Boomer generation nears retirement, many are looking for
longer-term investments that will offer a balance of security and growth
potential," said Tom Wilson, president of Allstate Financial. "The
Allstate(R) Treasury-Linked Annuity is the only product that provides
individuals the combination of traditional annuity benefits with the
possibility of earning additional interest based on the upside performance of
the five-year U.S. Treasury rate."
Created in response to consumer concerns about locking money into
investments with low-interest rates, the Allstate(R) Treasury-Linked Annuity
provides middle-income Americans with an innovative fixed rate investment
solution, plus traditional annuity benefits such as tax deferral, income for
life and death benefits for a beneficiary. In addition, the product offers
benefits including:
-- Higher interest rates for purchase payments of $20,000 or more
-- No upfront or annual charges or fees
And, while some annuities only permit a one-time purchase payment, the
Allstate(R) Treasury-Linked Annuity also enables investors to make additional
payments of $100 or more at any time.
"Although annuities are typically purchased for retirement purposes, there
are instances when individuals need to access money earlier," said Wilson.
"The Allstate(R) Treasury-Linked Annuity allows investors to withdraw 10% of
account value free of withdrawal charges each year. And, in the event of
extreme cases such as a terminal illness, confinement in a nursing home or
loss of a job, the individual can withdraw the entire amount without surrender
charges."
At the end of the first five-year period, a new underlying rate is set
based on current market conditions. At that time, individuals have a 45-day
window to continue earning interest on the investment or to withdraw their
money without surrender charges.
The Allstate(R) Treasury-Linked Annuity will be offered exclusively
through financial professionals at Glenbrook Life and Annuity Company, Lincoln
Benefit Life Company and Allstate Life Insurance Company.
Allstate Financial Group is a business unit of The Allstate Corporation
(NYSE: ALL), representing the affiliates that provide life insurance,
retirement, investment and health and disability insurance products. Allstate
Financial is the marketing name for Allstate Life Insurance Company, its
subsidiaries and certain affiliates. Widely known through the "You're In Good
Hands With Allstate(R)" slogan, Allstate Financial can help its customers
achieve a secure financial future with a broad array of retirement solutions.
Allstate Financial is also a premier provider of mutual funds, annuities, both
fixed and variable, as well as long-term care insurance. In addition, the
Allstate Workplace Division of Allstate Financial offers life, health and
disability insurance through employee payroll deductions. Customers can access
Allstate Financial products and services through thousands of financial
professionals, including Allstate agents, independent agents, and
representatives of certain banks and securities firms.
SOURCE The Allstate Corporation
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http://www.allstate.com
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CONTACT:
Laura Margolis, Media Relations of The
Allstate Corporation, +1-847-402-5600
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