Federal Life Insurance Company to Launch Transformative Digital Currency Variable Annuity in Partnership with Industry Leaders Gemini; Tree of wisdom; and access ramp
With the support of Bain Capital Insurance, Federal Life will promote this private placement variable annuity to a network of independent investment advisers, whose clients are seeking alternative investment opportunities and exposure to digital currencies on a tax-efficient basis. advantageous.
RIVERWOODS, Ill., Oct. 06, 2021 (GLOBE NEWSWIRE) – Federal Life Insurance Company (“the Company”), an Illinois national airline with a history dating back to 1899, today announced a first private placement variable of its kind annuity (PPVA) which offers broad exposure to Bitcoin and Ether. The Company has formed a Dedicated Insurance Fund (IDF) to support the PPVA which will allow investment advisers, on behalf of their clients, to allocate a portion of their variable annuity contract to a portfolio consisting primarily of Bitcoin, Ether and other crypto assets. This private placement product is available to accredited investors and will provide Advisors with a one-of-a-kind resource to provide clients who are looking for other ways to gain exposure to the evolving digital money space.
“In today’s environment, where the market capitalization of digital currencies has exceeded $ 2 trillion, it is undeniable that investors are looking to evolve and gain exposure to this dynamic asset class. We have merged the appetite for digital currency with a familiar and proven product in the tax-efficient variable annuity. With approximately 13.6 million accredited investor households in the United States, many of whom are already mindful of the digital currency space, we can help the advisor market provide a one-stop solution to meet the needs of their clients. Said Bill Austin, CEO of Federal Life Insurance Company.
The company has partnered with digital currency leaders Gemini and Onramp to hold and trade coins, as well as with WisdomTree to provide an investment allocation design to our IDF. “Our goal for Onramp was to be exactly that, an easy way for legacy institutions to integrate and experience the usefulness of cryptoassets. We expected our model portfolios with Wisdom Tree to provide easy access to traditional asset managers and this achievement is one example. As a young company, we are honored to play a small role in Federal Life with this historic annuity offering, ”said Tyronne Ross, CEO of Onramp Invest.
Will Peck, Head of Digital Assets at WisdomTree, said: “WisdomTree is delighted to partner with Onramp to deliver model portfolios that combine traditional assets such as stocks and bonds with crypto assets such as bitcoin and ether. as educational building blocks for counselors and institutions. WisdomTree’s Custom Model Portfolios for Federal Life show that crypto assets are overtaking early initial users and slowly gravitating to institutional investors and advisers. We applaud Federal Life for being an innovator in the insurance and variable annuity channel for these crypto exposures by leveraging the WisdomTree Model Portfolios. “
Federal Life Insurance Company intends to launch its Nationwide Private Placement Variable Annuity in Q4 2021, partnering with a broad range of advisory firms to provide a solution to the broad market of consumers seeking alternative investment and retirement solutions.
“We are delighted and proud, for a company with a heritage stretching back over 120 years, to be at the forefront of the intersection between insurance and digital currency and we look forward to making a long-term commitment to our advisors to partners and our customers, as we continue to evolve and deliver innovative products, ”said Austin.
About Federal Life Group, Inc.
Federal Life Group, Inc. (OTCMKTS: FLFG) is the parent company of Federal Life Insurance Company (FLIC), a provider of quality life insurance and annuity products, incorporated in 1899. FLIC is headquartered in Riverwoods, in Illinois, a suburb of about thirty miles. north of Chicago. FLIC is proud of its long tradition of financial strength and stability.
About the tree of wisdom
WisdomTree Investments, Inc., through its subsidiaries in the United States and Europe (collectively, “WisdomTree”), is a sponsor and asset manager of ETFs and ETPs headquartered in New York. WisdomTree offers products covering equities, commodities, fixed income, leveraged and inverse securities, currencies, cryptocurrencies and alternative strategies.
Tree Of Wisdom® is the trade name of WisdomTree Investments, Inc. and its subsidiaries around the world.
About Onramp Invest
Onramp Invest is an iPaaS (Integration Platform as a Service) technology company providing access to crypto-assets to registered investment advisers. Our comprehensive crypto-asset management solution will enable advisors to securely, confidently and intelligently help their clients invest in the new era, all within their existing workflows and billing models. .
The model portfolio agreements with WisdomTree referenced above are commemorated through separate license agreements with the named entities. The WisdomTree Model Portfolios are not personalized investment advice or investment recommendation from WisdomTree and are intended for use only by a third party financial advisor or institution, with other information, as an educational resource to help build a portfolio or as a contribution in the development of investment advice for their own clients. These financial advisers and institutions are responsible for making their own independent judgment on how to use the information in the WisdomTree Model Portfolio. Information on Model Portfolios should not be construed as investment advice, research or recommendation from WisdomTree regarding (i) the assets (e.g. ETF or cryptoassets) included therein, (ii) l ‘use or suitability of model portfolios or (iii) any particular security or asset. There are risks associated with investing, including possible loss of capital. Crypto assets are complex, typically exhibit extreme price volatility and unpredictability, and should be viewed as highly speculative assets. Only an investor and his or her financial professional know enough about their situation to make an investment decision. WisdomTree does not have the discretion to invest or place transaction orders for portfolios or accounts of advisers, institutions or investors derived from WisdomTree Model Portfolio Information. WisdomTree makes no representations, warranties, endorsements or recommendations regarding the products or services of other entities, including those named here.
This press release is intended for independent investment advisers and not for potential purchasers of the Private Placement Variable Annuity. No offer to sell securities is hereby made. When made, offers will only be made to qualified investors. In addition, the offers will be made or accepted only after receipt by a solicitor of the final memorandum of the private placement concerning the variable annuity. The securities will be distributed by FED Mutual Financial Services, Inc.
CONTACT: Contact: Anders Raaum, Investor Relations 847-850-3311