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The First Indexed Annuity “Equity Indexed Annuity” – “EIA”

Indexed Annuities were originally called “Equity Indexed Annuity.” Equity Indexed Annuities came out in February of 1995 – Keyport Life (now Sun Life) a Canadian owned Company sold the Key Index Annuity using a High Water Method with a guaranteed participation rate and no spreads, and no averaging. A premium of $20,000.00 grew over a five-year contract period to have and ending value of a little over $50,000.00.

The Second Indexed Annuity

The second Indexed Annuity was brought out by Lincoln Benefit. Both the 1st and 2nd Equity Indexed Annuities were developed by an actuarial firm located in Canada called Genesis.

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