A little certainty goes a long way in these uncertain times. With The Nationwide Lifetime Income Rider® (Nationwide L.inc), an optional rider available with certain Nationwide variable annuities, you can offer your clients a 7% simple interest roll-up and guaranteed lifetime income – so they’ll know what to expect when they begin taking retirement income. In this economic climate, that’s the kind of reliability they’re looking for.
Nationwide L.inc can be issued to annuitants aged 45 to 85 (ages 50-85 in New York), and is available with certain Nationwide variable annuities for an additional cost. Nationwide L.inc is for clients looking for guaranteed lifetime income in retirement (guarantees are based on the claims paying ability of Nationwide Life Insurance Company).
Guaranteed increases in value
Clients who choose to add Nationwide L.inc to their contract are guaranteed that their original income benefit base will increase by 7% simple interest annually for 10 years, or until they take their first lifetime income withdrawal, whichever is sooner.
The lifetime income amount is based on the income benefit base and age when clients take their first withdrawal. They can take more than their withdrawal amount any year, but keep in mind that it will reduce future withdrawal amounts. See if Nationwide L.inc might be right for your clients.
The cost of Nationwide L.inc is 1.20% (max cost 1.50%). The Joint Option (may also be referred to as Spousal Continuation) is also available for an additional cost of 0.30% (max cost 0.40%), and the payout percentages are slightly lower than for single life.
For more information or to make a case, contact your Nationwide wholesaler at 1-800-321-6064.