Louisville, Ky.-based DPL Financial Partners has announced that it is partnering with Kansas-based Security Benefit Life Insurance Company to launch ClearLine, a new fixed-index annuity for RIAs.
ClearLine provides clients with optional income payouts that increase each year for life.
“The launch of this ClearLine FIA reflects the power of the DPL network in action,” said David Lau, DPL founder and CEO, in released comments. “We gathered feedback from our members about product features and design. And we found a great partner in Security Benefit to build it. We are excited to enable our members to leverage the principal protection and increasing lifetime income benefits this product provides for their clients.”
ClearLine also has an elective withdrawal feature for non-qualified contracts that can be used to spread the taxable gain portion of income payments over a longer time period, reducing the tax burden for some retirees.