Product is designed for all phases of retirement savings—accumulation, income and legacy

MADISON, WI, August 19, 2019 /24-7PressRelease/ -- CUNA Mutual Group today announced the launch of Zone Income Annuity, which includes features that address all phases of retirement, including a protected lifetime income feature that locks in a minimum income stream to the policyholder for life. The new product also expands choices of investment indexes to which holders can link performance to include the S&P 500, the Russell 2000 and the MSCI EAFE.

The protected lifetime income (often referred to as a guaranteed lifetime withdrawal benefit, or GLWB) addresses an important concern for retirees. "One of peoples' biggest fears—and they share it every day with the advisors we work with—is outliving their retirement savings," said Dave Hanzlik, vice president of annuity and retirement solutions. "Lifespans have generally increased for this generation, even as the lifetime pensions many of our parents enjoyed have largely disappeared, and that can make the prospect of retirement extremely stressful."

Hanzlik explained that the protected lifetime income amount is calculated from an initial benefit base and can increase if policyholders elect to defer withdrawals for a period, though he noted that the payment amount will never go down regardless of how early policyholders begin receiving them.

The Zone Income Annuity includes features in common with the Zone Annuity that have made the latter one of CUNA Mutual Group's most popular annuity product offerings. Policyholders can still choose among different risk control allocation options. If they select one or more of the indexes, they can control their risk exposure by allocating between a Secure Account, where upside is capped and the annual return will never be less than 0%, and a Growth Account, which can never lose more than 10% in a given year, and offers higher upside potential. Investors may reset these parameters each year as their needs change.

Other new features of the Zone Income Annuity—include a dollar-for-dollar death benefit to protect policyholders' legacies. In the event of the policyholder's death, beneficiaries receive the value of the original purchase payment, adjusted for any withdrawals made during the period when income was received.

Available in nearly 50 states, Zone Income Annuity is sold by prospectus through registered representatives and is underwritten by MEMBERS Life Insurance Company, a subsidiary of CUNA Mutual Group. To learn more about CUNA Mutual Group's annuity products, visit smartriskcontrol.com/zoneincome.

Before investing, clients should consider an annuity's investment objectives, risks, charges, and expenses of the investment company carefully before investing. The prospectus contains this and other information about the company and should be read carefully before investing. To obtain a Zone Income Annuity prospectus, visit cmannuities.com/yourzoneincome or call 888.888.3940.

About CUNA Mutual Group:
CUNA Mutual Group is a financially strong insurance and financial services company enabling people to make financial decisions that work for them. The company was built on the principle of "people helping people" and the belief that a brighter financial future should be accessible to everyone. For more information, visit www.cunamutual.com.

CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Annuities are issued by CMFG Life Insurance Company (CMFG Life) and MEMBERS Life Insurance Company (MEMBERS Life) and distributed by their affiliate, CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, IA, 50677. CMFG Life and MEMBERS Life are stock insurance companies. MEMBERS® is a registered trademark of CMFG Life. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All contracts and forms may vary by state and may not be available in all states or through all broker/dealers. Base policy forms 2018-RILA, 2018-RILA-GLWBRDR and 2018-RILA-DRAEND.

MGA, ZIA-2636672.1-0719-0821 ©2019 CUNA Mutual Group

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