AuguStarSM Retirement, a subsidiary of Constellation, has been making waves in the annuity marketplace since its launch in late July. The company is thrilled to announce the introduction of new and enhanced products, alongside its strategic expansion into the independent marketing organization (IMO) sales channel. This strategic move is in line with AuguStarSM Retirement’s commitment to providing top-tier products to an ever-widening audience.
Cliff Jack, President and CEO of AuguStarSM Retirement, stated, “Within the first 60 days of the AuguStar Retirement brand launch, we have made significant progress on our strategy to expand the availability and distribution of our top-tier products.”
AuguStarSM Retirement’s entry into the IMO channel is accompanied by key product launches with support from Innovation Design Group and exclusive distribution with Advisors Excel, CreativeOne, IAMS, Asset Marketing Systems, Impact Partnership, The Quantum Group, Gradient Insurance Brokerage and Financial Independence Group:
- Multi-Year Guaranteed Annuities (MYGA): AuguStarSM Retirement has introduced MYGA products with flexible growth options, catering to various investment needs. Clients can select from three distinct growth guarantee periods: three, five, or seven years. With investments ranging from $10,000 to $2 million, customers can enjoy guaranteed growth rates for their chosen duration. An exciting feature of these MYGA offerings includes a unique nursing home rider (availability varies by state) and zero annual charges. These are popular products currently available through our traditional sales channel and with our new IMO partners.
- Fixed Indexed Annuities (FIA): These top-tier products already available in the traditional distribution marketplace are now available to our IMO channels. The AuguStarSM Retirement FIA products are offered with payment terms of 5, 7, and 10 years. Additionally, the introduction of a FIA premium bonus rider enhances the value proposition for clients seeking secure even higher guaranteed growth in their investment.
Marc Socol, Executive Vice President, and Chief Revenue Officer of AuguStarSM Retirement’s distribution company, added, “With the growth of our product lineup, AuguStar Retirement is attractive to many distributors across various channels including independent broker/dealers and banks. In a very short period of time, we have been able to execute on our strategic plan, which is drawing the attention of some of the larger distributors in the marketplace. Advisors are watching us closely, and we are working hard to deliver for them.”
A vibrant new website and welcoming and engaging client materials
We also launched a refreshing client-facing AuguStarSM website at augustarfinancial.com. This represents a significant step forward in the AuguStarSM commitment to providing an exceptional experience to our clients. The design embodies the spirit of our reinvigorated brand, radiating energy, simplicity and a warm welcome to all who visit. Whether clients are seasoned investors or just beginning their financial journeys, our website is designed to be a trusted companion, making the world of finance more accessible and engaging.
What to expect from augustarfinancial.com and other client materials:
Simplicity: AuguStarSM Financial understands that navigating the complexities of finance can be overwhelming. Whether clients are looking for information on retirement income products, life insurance solutions or financial planning in general, they’ll find it easier and more intuitive than ever before.
Fun and engaging: Finance doesn’t have to be boring! Engaging graphics, interactive tools and user-friendly features make learning about financial planning an enjoyable experience.
Warm welcome: The AuguStarSM companies are committed to making every client feel valued and appreciated, and the website is an extension of that commitment.
“The client information is simplified and made easier to understand with the help of a fun new character we’ve named Aster,” says Cliff Jack. Aster, Greek for ‘star,’ is a fictional guide who helps to simplify the financial planning journey in marketing and sales materials. “We look forward to using Aster to help make retirement conversations more approachable. Ultimately, we believe Aster helps us reduce stress around planning for retirement.”
Multi-year guaranteed annuities (also known as “MYGAs”) are long-term investment vehicles designed to accumulate money on a tax-deferred basis for retirement purposes. Upon retirement, MYGAs may provide an income stream or a lump sum.
If you die during the accumulation or payout phase, your beneficiary may be eligible to receive any remaining Contract Value.
Guarantees are based solely upon the claims-paying ability of AuguStarSM Life Insurance Company. Not FDIC insured.
Products are issued by AuguStarSM Life Insurance Company.
Product and product features may vary by state. Issuer not licensed to conduct business in NY.
If you take a withdrawal or surrender during the surrender charge period, it may be subject to a surrender charge and a market value adjustment. Withdrawals are also subject to ordinary income tax and, if taken prior to age 59½, a 10% federal tax penalty may apply. Tax rules require that withdrawals be taken first from any unrealized gain in the contract. Federal and state tax laws applicable to this product are subject to change. You are encouraged to consult your personal tax adviser for further information.
There is no additional tax-deferral benefit for contracts purchased in an IRA or other tax-qualified retirement plans because such retirement plans already have tax-deferred status. An annuity should only be purchased in an IRA or qualified plan if the contract owner values some of the other features of the annuity and is willing to incur any additional costs associated with the annuity.
About AuguStarSM Retirement
AuguStarSM Retirement markets fixed indexed annuities and multi-year guaranteed annuities through banks, brokers/dealers, independent marketing organizations and insurance professionals. AuguStarSM Retirement is a member of the Constellation Insurance family of companies. As of December 31, 2022, Constellation’s family of insurance companies has over $34 billion in total assets under management. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of North America’s largest long-term institutional investors, managing over C$649 billion in net assets, including over C$139 billion in private capital investments. More information is available at augustarfinancial.com.