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GUARANTY INCOME LIFE INSURANCE COMPANY

Press Release
Guaranty Income Life Strongly Supports the ACLI Position on Federal Tax Reform and Retirement Savings

Frank Keating, President and CEO of the American Council of Life Insurers, presented The President's Advisory Panel on Federal Tax Reform with these comments. "Tax reform initiatives that encourage and reward retirement and financial planning by lowering barriers to long-term savings and investment are consistent with the President's guidelines and will prove to be beneficial to our nation's economy." He further states, "The inherent characteristics of (Life insurance, Annuity, and Long-term Care) products combined with their tax attributes encourage individuals to take personal responsibility for retirement planning and promote long-term retirement savings."

Americans face the possibility of outliving their retirement or having it depleted by the catastrophic costs of long-term care. The reduced taxation of non-qualified immediate annuities as proposed in "The Retirement Security for Life Act" or the "above-the-line" tax deductions for long-term care insurance as proposed in the "Long-Term Care and Retirement Security Act of 2003" are examples of proposals before Congress that would promote retirement planning and long-term retirement savings.

Keating wrote, "Through such measures, protecting retirement savings with long-term care insurance coverage combines good fiscal policy with good tax policy."

Guaranty Income Life Insurance Company supports the ACLI's position and has been protecting policyholders from financial loss since 1926. You can "Guarantee Your Income for Life" with Guaranty Income Life! We offer a variety of flexible premium and single premium annuities with or without the added value of our long-term care AnnuiCareŽ riders. We also offer competitive immediate annuities that will provide a lasting stream of income.

You can read the complete transcript of Frank Keating's "Comments to The President's Advisory Panel on Federal Tax Reform" by visiting the ACLI Web site.


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