Security Benefit Introduces Low-cost, Simplified Variable Annuity for Investors Planning for Retirement

TOPEKA, Kansas, March 27 /PRNewswire/ -- A new variable annuity product from Security Benefit has been designed for investors who are concerned about the cost and complexity of many annuities, yet wish to maximize their retirement financial assets.

Available through independent financial representatives and advisors, the new product, EliteDesigns, combines a very low-cost variable annuity with powerful investment options and an optional living benefit.

"We believe EliteDesigns is an innovative annuity that combines simplicity and affordability with an investment platform that can support professional advice and sophisticated investment strategies," said Doug Wolff, vice president, Business Development, Security Benefit.

EliteDesigns features 73 underlying investment options, including a wide range of Rydex mutual funds. EliteDesigns is structured to suit a variety of investment strategies that meet a wide range of risk and reward objectives; from a relatively passive but well-diversified buy-and-hold investment program to a highly sophisticated tactical strategy.

"EliteDesigns' features highlight the strong rationale for investing in annuities as an important part of a diversified retirement portfolio," said Mr. Wolff. "Research clearly shows that Americans are living longer, so they must be prepared to invest for a longer retirement period. This product can be a step toward a more secure retirement for many Americans."

Annuities are long term investments suitable for retirement planning.

The EliteDesigns Variable Annuity (form V6029) is a flexible premium deferred variable annuity issued by Security Benefit Life Insurance Company (SBL) and distributed by Security Distributors, Inc. (SDI). SBL and SDI are affiliates and both are subsidiaries of Security Benefit Corporation (Security Benefit).

You should read the prospectus carefully before investing. Investing in a variable annuity involves risk and there is no guarantee of investment results. You should carefully consider the investment objectives, risks, and charges and expenses of the EliteDesigns Variable Annuity and its investment options before investing. You may obtain a prospectus that contains this and other information about the investment options or variable annuity by calling our National Service Center at 1-800-888-2461.

About Security Benefit

Security Benefit fosters strong partnerships to provide insightful and customized retirement solutions for employers and individual investors nationwide. Through a broad advisor network and its nationally recognized money managers, Security Benefit provides mutual funds, annuities and retirement plans and programs. As an industry leader in service technology, Security Benefit affiliates also offer business processing and broker/dealer solutions tailored to the financial services marketplace. For more information about us, visit http://www.securitybenefit.com/.