American Skandia launches new products
American Skandia launches new products Skandia's subsidiary American Skandia continues its ambitious effort to design new products and savings solutions. American Skandia today offers one of the broadest arrays of variable annuity designs and features in the US market. Today, the company is expanding its American Skandia Advisor Funds with the addition of four new funds with varying risk profiles from the following companies: T. Rowe Price, Alliance, Alliance/Sanford Bernstein, and INVESCO. American Skandia has also announced the introduction of a new variable annuity with a shorter surrender period - a feature that has recently come into greater demand among financial professionals and clients. The new VA contract carries a four-year surrender period, compared with the usual seven- or eight-year period that applies in the US. The new product also gives VA owners the flexibility to make additional payments toward their annuities. "We expect this new product to be a major contributor to our sales in 2001," comments Christian Twaites, Senior Vice President of American Skandia Marketing. "This is because we have developed it specifically in response to growing demand from our customers." Additionally, American Skandia has introduced an optional variable annuity death benefit feature designed to help offset expenses beneficiaries may incur, such as federal and state taxes that fall due upon receipt of death benefit amounts. American Skandia has received regulatory clearance in recent days to begin marketing all these new products. For further information, please contact: Harry Vos, head of Investor Relations, Skandia, tel. +46-8-788 36 43 Timothy Klahs, Investor Relations, American Skandia, tel. +1-203-944 7530 Marianne Stochmal, PR, American Skandia, tel. +1-203-402 1248 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/01/20010301BIT00780/bit0001.doc http://www.bit.se/bitonline/2001/03/01/20010301BIT00780/bit0001.pdf