The Huntington Investment Company, a wholly owned subsidiary of Huntington Bancshares Incorporated, recently launched a new fixed annuity product that provides a higher rate than many certificates of deposits, tax deferred interest earnings, and a unique feature that allows customers to exit the product if renewal rates decrease by more than a half percent.

The Huntington SecureFore 7, issued by Forethought Life Insurance Company, is a seven-year fixed annuity that allows the customer to lock in a rate for three or five years.  At the end of that term and annually after that, the rate is reset. Customers can exit the contract with no penalty if the renewal rate drops more than a half percent below their base rate.

"In 2010, Huntington introduced its 'Fair Play Banking' philosophy toward greater transparency and value for our customers," said Rob Comfort, president of The Huntington Investment Company in a statement. "We see our new SecureFore 7 fixed annuity as a continuation of this commitment to Fair Play Banking, as it allows our customers access to a higher rate of return plus the ability to exit the product with no penalty if renewal rates drop more than half a percentage point, giving customers flexibility and control over their money."