SAN ANTONIO – USAA Life Insurance Company announced today that their Protected Deferred Annuity (PDA), a multi-year guarantee, single premium deferred annuity, is now available through the Fidelity Insurance Network®. This is the second annuity product that USAA has launched on the Fidelity Investments® platform following the successful launch of a Single Premium Immediate Annuity, the Protected Retirement Income Annuity (PRIA), in November 2019. USAA also announced an expanded availability of the PRIA product for residents of New York state.
Building scale and market share in the annuity market through the direct and third-party distribution channel continues to be a long-term strategic focus for USAA.
“Our members see the value in annuities and have been purchasing them on a number of different platforms,” said Bill White, vice president and general manager, retirement products at USAA. “Our relationship with Fidelity Investments allows us to complement our existing annuity offerings and provide more retirees and near-retirees the opportunity to choose a product from a company they are familiar with and trust.”
Life insurance and retirement products offered by USAA are open to the public and do not have a membership requirement. USAA’s suite of annuity products are designed to support members and customers who are planning for—and living in—retirement.
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and investment and retirement solutions to nearly 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, Tex., USAA has offices in seven U.S. cities and three overseas locations and employs more than 35,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.
Annuities are generally suitable for long-term investing, particularly retirement savings.
An annuity is a long-term insurance contract sold by an insurance company and designed to provide an income, usually after retirement, that cannot be outlived. There are fees, expenses and surrender charges that may apply.
USAA means United Services Automobile Association and its affiliates.
Life insurance and annuities provided by USAA Life Insurance Co., San Antonio, TX, and in NY by USAA Life Insurance Co of New York, Highland Falls, NY. Other life and health insurance from select companies offered through USAA Life General Agency, Inc. (known in CA (license #0782231) and in NY as USAA Health and Life Insurance Agency).
Fidelity Investments and The Fidelity Insurance Network are registered service marks of FMR LLC.
Fixed annuities available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments company. These products are distributed by Fidelity Insurance Agency, Inc., and, for certain products, by Fidelity Brokerage Services, Member NYSE, SIPC. A contract's financial guarantees are solely the responsibility of and are subject to the claims-paying ability of the issuing insurance company.
Single Premium Immediate Annuity (SPIA): Forms ICC19996663P 06-20, 3P99678CA 06-20, 3P99679FL 06-20, 3P99673ND 06-20, 3P99674SD 06-20; NY PRIA: 3PD99340NY 08-19