NEW YORK, November 6, 2006 – MetLife Investors Distribution Company (MetLife Investors) announced today its expanded partnership with Wachovia Securities, LLC to offer certain MetLife Investors variable annuities and its suite of optional living benefits in Wachovia bank locations across the U.S. The products are made available to customers through approved Wachovia Securities financial advisors in the firm’s Investment Services Group.
"MetLife Investors offers an array of retirement income products and options with an emphasis on product flexibility," said Paul Sylvester, National Sales Manager of Annuities and Long-Term Care, MetLife Investors. "We are pleased to be working with Wachovia Securities in this capacity to help more people preserve their lifestyle in retirement."
"This expanded agreement also bolsters the MetLife Investors’ bank channel distribution for variable annuities, which is a key growth opportunity for our firm," added Sylvester. MetLife is the number one provider of variable annuities in the U.S.*
In conjunction with MetLife Investors variable annuity offerings, Wachovia Securities customers will also have access to a suite of optional living benefits to help preserve their lifestyle in retirement, including the recently launched MetLife Lifetime Withdrawal GuaranteeTM rider, and the currently offered Guaranteed Minimum Income Benefit Plus and Guaranteed Minimum Accumulation Benefit riders.
Individuals may make their investment selections from the MetLife Asset Allocation Program (MAAP). MAAP is comprised of five asset allocation portfolios, each designed for a specific type of investor, with particular investment objectives, retirement time horizon and risk tolerance. The program is actively managed by Met Investors Advisory, LLC, an affiliate of MetLife, Inc.
Certain terms and conditions apply if an optional living benefit rider is elected, such as investment allocation restrictions. Income taxes and tax penalties may apply to any withdrawal. Not all riders may be appropriate for purchase by a beneficiary under a decedent’s IRA.
Variable annuities are offered by prospectus only, which is available from a registered representative. A customer should carefully consider the product’s features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well other information about the underlying funding choices. Amounts allocated to the variable investment options of an account balance are subject to market fluctuations, and when withdrawn or annuitized, may be worth more or less than their original value. The principal value and rate of return in a variable annuity will fluctuate due to market conditions. Therefore, at any point in time, the value of the annuity contract may be worth more or less than the owner’s actual investment in the contract. There is no guarantee that any of the variable options in this product will meet their stated goals or objectives. This and other information is available in the prospectuses, which a customer should read carefully before investing. Product availability and features may vary by state. All variable annuity product guarantees, including those associated with the optional living benefits riders, are based on the claims-paying ability and financial strength of the issuing insurance company.
About MetLife Investors
MetLife Investors affiliated insurance companies offer individual life insurance, annuity and long-term care insurance products and services through third party intermediaries including wirehouses, independent planners, broker dealers and banks. Each of the insurers is an affiliate of MetLife, Inc. Products are distributed by MetLife Investors Distribution Company, Irvine, CA.
About MetLife
MetLife, Inc. is a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement & savings products and services to corporations and other institutions. For more information, please visit www.metlife.com.
The information in this press release is not intended to (and cannot) be used by anyone to avoid IRS penalties. This press release supports the promotion and marketing of this annuity rider. Customers should seek advice based on their particular circumstances from an independent tax advisor.
Like most annuity contracts, the contracts issued by MetLife and its affiliates contain fees, surrender charges, and holding periods and terms for keeping the contract in force. Customers should consult their qualified tax or legal professional before making an investment decision.
Prospectuses for MetLife’s or any of its affiliated insurance companies’ individual variable annuities and the underlying investment options can be obtained by contacting an authorized MetLife or MetLife Investors representative. MetLife’s variable annuities are offered through MetLife affiliated broker/dealers including Metropolitan Life Insurance Company (member FINRA) or MetLife Securities, Inc. (member FINRA, SIPC), both at 200 Park Avenue New York, NY 10166, MetLife Investors variable annuity products are issued by MetLife Investors Insurance Company, MetLife Investors Insurance Company of California, MetLife Investors USA Insurance Company and in New York, only by First MetLife Investors Insurance Company (subsidiaries of MetLife, Inc.) and distributed by MetLife Investors Distribution Company, 5 Park Plaza, Suite 1900, Irvine, CA, 92614.
About Wachovia Securities
The nation’s third largest full service retail brokerage firm with more than $730 billion in client assets, Wachovia Securities provides financial advisory, brokerage, asset management and other financial services through approximately 10,500 registered representatives in more than 2,700 locations nationwide.* Wachovia Securities is the trade name used by two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, member FINRA/SIPC. *As of 9/30/2006.
#1 in variable annuities based on sales premiums as of June 30, 2006, VARDS
