MetLife Unveils New Indexed Product Offering

A MetLife news release said that Equity Index Plus is offered through a separate account under a group annuity contract issued by Metropolitan Life Insurance Company.

The news release said that the new offering differs from other index strategies in three primary ways: there is no tracking error, no investment management fees, and it provides a guaranteed enhancement above the return of the index if the contract is held to maturity.

With a minimum lump sum investment and set contract terms, plan sponsors and managers receive the Total Rate of Return of the S&P 500 Index (with dividends), plus an additional 0.10% annually for a five-year contract and 0.05% annually for a three-year contract if the contract is held to maturity, according to the announcement.

“For plan sponsors and qualified pension plan decisionmakers seeking the return of the S&P 500 Index, Equity Index Plus delivers on that need, and more,” asserted Sherif Zakhary, vice president, Structured Risk Solutions, MetLife, in the news release. “This new offering guarantees that the investment not only credits the Total Rate of Return of the S&P 500 Index (with dividends), but also enhances that return by 5 or 10 basis points depending on the length of the contract if the contract is held to maturity. All of these benefits are delivered without incurring additional expenses and tracking error that dilute overall returns.”

More information about the company is at  www.metlife.com .