SunTrust Now Selling Amex Classic Variable Annuity

February 24, 2003 ( - SunTrust Securities, Inc's investment consultants will now be offering an American Express Innovation Classic Variable Annuity product.

The alliance between American Express Financial Group and SunTrust will enable the American Express Innovation Classic Variable Annuity to gain a wider distribution, the companies said.   The annuity features include:

  • earning a 1% purchase payment credit as soon as purchase payments equal $100,000 or more
  • elimination of surrender charges if the surviving spouse elects to continue the contract
  • features to help protect and pass on accumulated wealth to heirs and options that can help offset expenses such as funeral expenditures and federal and state taxes
  • investment options from fund families such as American Express, STI Classic Funds, AIM, Franklin Templeton, and Oppenheimer
  • flexible payment and transfer rules.