More guaranteed income withdrawal flexibility
to become available for new and existing contract holders
MADISON,
Wis., May 8, 2024 /PRNewswire/ -- TruStage™, an
insurance, investment and technology provider, focused on making
brighter financial futures accessible for all, today announced
enhancements to its Zone Income Annuity underwritten by MEMBERS
Life Insurance Company. The changes help allow TruStage to better
meet modern client expectations for customized investment and
income options.
With new withdrawal flexibility for both existing and new
contracts, clients can begin receiving guaranteed lifetime income
as early as two business days after the contract is issued and can
change from single to joint lifetime income any time before
lifetime income begins. Clients will also be able to withdraw any
amount up to the full lifetime income payment, to help accommodate
individual income needs.
The new index offerings for TruStage's Zone Income annuity
include the Dimensional US Small Cap Value Systematic Index and the
Barclays Risk Balanced Index. The Dimensional index is designed to
pursue higher return potential by systematically excluding the
lowest expected return stocks in the US small cap market, such as
companies with low profitability and high asset growth. The
Barclays index aims to provide stable returns through a dynamic
portfolio with exposure to low volatility stocks and US Treasuries,
targeting 10% volatility. Zone Income's declared rate account is
also being updated, resetting the renewal rate annually to align
with cap rate renewals. Additionally, surrender charges in the
first two contract years have been reduced from 9% to 8%.
"Providing clients with greater power over their financial
futures is vital to our work at TruStage. With these enhancements
to our Zone Income annuity, investors will be better able to adapt
the product to a variety of lifestyle considerations and income
needs," said Dave Hanzlik, Vice
President of Annuity & Retirement Solutions.
Zone Income is a simple, innovative retirement solution that
leverages the power of risk control to provide the best of two
worlds – flexible guaranteed income and strong growth potential.
With four indices and a declared rate account to choose from,
clients can customize a personal blend of upside potential and a
measure of downside protection with powerful safeguards against
outliving their assets.
For more information on Zone Income or any of TruStage
annuities, please contact the TruStage Annuities sales desk at
877.345.GROW (4769) or visit www.trustage.com/annuities.
About TruStage
TruStage is a financially strong insurance, investment and
technology provider, built on the philosophy of people helping
people. We believe a brighter financial future should be accessible
to everyone, and our products and solutions help people confidently
make financial decisions that work for them at every stage of life.
With a culture rooted and focused on creating a more equitable
society and financial system, we are deeply committed to giving
back to our communities to improve the lives of those we serve. For
more information, visit www.trustage.com.
All guarantees are based on the claims paying ability of the
insurer.
TruStage™ is the marketing name for TruStage Financial
Group, Inc. its subsidiaries and affiliates.
Neither Barclays Bank PLC ("BB PLC") nor any of its affiliates
(collectively "Barclays") is the issuer or producer of [Product
Name] and Barclays has no responsibilities, obligations or duties
to investors in Zone Income Annuity. The Barclays Risk Balanced
Index (the "Index"), together with any Barclays indices that are
components of the Index, is a trademark owned by Barclays and,
together with any component indices and index data, is licensed for
use by MEMBERS Life Insurance Company as the issuer or producer of
Zone Income Annuity. (the "Issuer").
Barclays' only relationship with the Issuer in respect of the Index
is the licensing of the Index, which is administered, compiled and
published by BB PLC in its role as the index sponsor (the "Index
Sponsor") without regard to the Issuer or the Zone Income Annuity
or investors in the Zone Income Annuity. Additionally, MEMBERS Life
Insurance Company as issuer or producer of Zone Income Annuity may
for itself execute transaction(s) with Barclays in or relating to
the Index in connection with Zone Income Annuity. Investors acquire
Zone Income Annuity from MEMBERS Life Insurance Company and
investors neither acquire any interest in the Index nor enter into
any relationship of any kind whatsoever with Barclays upon making
an investment in Zone Income Annuity. The Zone Income Annuity is
not sponsored, endorsed, sold or promoted by Barclays and Barclays
makes no representation regarding the advisability of the Zone
Income Annuity or use of the Index or any data included therein.
Barclays shall not be liable in any way to the Issuer, investors or
to other third parties in respect of the use or accuracy of the
Index or any data included therein.
The Dimensional US Small Cap Value Systematic Index (the
"Index") is sponsored and published by Dimensional Fund Advisors LP
("Dimensional"). References to Dimensional include its respective
directors, officers, employees, representatives, delegates or
agents. The use of "Dimensional" in the name of the Index and the
related stylized mark(s) are service marks of Dimensional and have
been licensed for use by CMFG Life Insurance Company ("CMFG Life").
CMFG Life has entered into a license agreement with Dimensional
providing for the right to use the Index and related trademarks in
connection with the TrustageTM Zone Income Annuity (the "Financial
Product"). The Financial Product is not sponsored, endorsed, sold
or promoted by Dimensional, and Dimensional makes no representation
regarding the advisability of investing in such Financial
Product. Dimensional has no responsibilities, obligations or duties
to purchasers of the Financial Product, nor does Dimensional make
any express or implied warranties, including, but not limited to,
any warranties of merchantability or fitness for a particular
purpose or use with respect to the Index. Dimensional does not
guarantee the accuracy, timeliness or completeness of the Index, or
any data included therein or the calculation thereof or any
communications with respect thereto. Dimensional has no liability
for any errors, omissions or interruptions of the Index or in
connection with its use. In no event shall Dimensional have any
liability of whatever nature for any losses, damages, costs, claims
and expenses (including any special, punitive, direct, indirect or
consequential damages (including lost profits)) arising out of
matters relating to the use of the Index, even if notified of the
possibility of such damages. Dimensional has provided CMFG Life
with all material information related to the Index methodology and
the maintenance, operation and calculation of the Index.
Dimensional makes no representation with respect to the
completeness of information related to the Index provided by CMFG
Life in connection with the offer or sale of any Financial Product.
Dimensional has not published or approved this document, nor does
Dimensional accept any responsibility for its contents or
use.
Annuities are long-term insurance products designed for
retirement purposes. Many registered annuities offer four main
features: (1) a selection of investment options, (2) tax-deferred
earnings accumulation, (3) guaranteed lifetime payout options, and
(4) death benefit options. Before investing, consider the annuity's
investment objectives, risks, charges and expenses. The prospectus
contains this and other information. Please read it carefully. To
obtain a prospectus, contact your advisor, log on to
www.trustage.com/annuities, or call 888.888.3940. This material is
informational only and is not investment advice. If you need advice
regarding your financial goals and investment needs, contact a
financial advisor. All guarantees are backed by the claims-paying
ability of MEMBERS Life Insurance Company (MEMBERS Life) and do not
extend to the performance of the underlying accounts, which can
fluctuate with changes in market conditions.
TruStage™ Zone Income Annuity is issued by MEMBERS Life
Insurance Company (MEMBERS Life) and distributed by its affiliate,
CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered
broker/dealer, 2000 Heritage Way, Waverly, IA, 50677. Investment and
insurance products are not federally insured, may involve
investment risk, may lose value and are not obligations of or
guaranteed by any depository or lending institution. All
contracts and forms may vary by state and may not be available in
all states or through all broker/dealers. Base Policy Form:
2018-RILA, 2018-RILA-GLWBRDR*, 2018-RILA-DRAEND*,
2023-RILA-GLWBRDR*, 2023-RILA-DRAEND*, 2018-RILA(ID)
Corporate Headquarters 5910 Mineral Point Road,
Madison, WI
53705
© TruStage
CZIA-6551665.1-0424-0526
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SOURCE TruStage