Group Accumulation Annuities

The Product

A Group Accumulation Annuity is a deposit type product that accumulates value by adding interest to the deposits made by the plan sponsor or the plan member.

Assuris’ Protection

If your life insurance company fails, your Group Accumulation Annuity will be transferred to a solvent company. On transfer, Assuris guarantees that you will retain 100% of the Accumulated Value up to $100,000.

• For Defined Contribution Plans, where the individual has chosen a deposit type product, they will be protected as follows:
  Assuris continues the Group Accumulation Annuity benefits for each plan member. On transfer, Assuris guarantees that each plan member will retain 100% of the Accumulated Value, up to $100,000.

• For Defined Benefit Plans, where the assets are invested in a deposit type product, they will be protected as follows:
  Assuris continues the benefits only for the plan sponsor of the Group Accumulation Annuity. On transfer, Assuris guarantees that the plan sponsor will retain 100% of the Accumulated Value, up to $100,000.

Examples click here

Questions and Answers

• Will interest continue to be added after Assuris coverage takes effect?
• What if my policy uses the change in a stock index instead of an interest rate?
• What if my Defined Benefit Pension Plan has invested in a Group Accumulation Annuity?