Advisors can give clients more control over their money with new annuity feature from Nationwide
Nationwide Financial announces new liquidity option in its INCOME Promise® fixed immediate annuity
FOR IMMEDIATE RELEASE
October 20, 2010
Contact:
Jeff Whetzel (614) 249-6354
whetzej@nationwide.com
Erica Lewis (614) 249-0184
lewise6@nationwide.com
Columbus, Ohio — In these challenging economic times, advisors are looking for ways to help clients plan for long-term goals such as retirement, while also giving them the flexibility to deal with unexpected financial needs that may arise. To help advisors balance these two goals, Nationwide Financial Services, Inc. is introducing a new liquidity feature that is now available with its fixed immediate annuity INCOME Promise®. In addition to helping clients create guaranteed retirement income, the new feature also gives them the option to take lump-sum withdrawals if they need cash for an emergency.
“Today’s advisors are not only looking to help clients generate a guaranteed stream of income in retirement, but are also searching for ways to give them more control over their retirement assets,” said Eric Henderson, senior vice president of Individual Investments for Nationwide Financial. “Our new liquidity feature can help advisors solve both of these problems and provide clients with the flexibility they’re looking for in today’s economic environment.”
Nationwide’s INCOME Promise offers advisors a simpler income solution
that can be customized to create a guaranteed income stream based on the
individual needs of their clients. Some key benefits include:
• Liquidity – this new feature offers consumers the confidence to
annuitize assets with the understanding that they have the ability to
take lump-sum withdrawals in the event of a financial need; this feature
is available with any term-certain or installment refund payment option.
There is a fee associated with each withdrawal.
• Customized guaranteed income — advisors can choose to create income for an individual or two people (joint annuitants), for a specific period of time or for their lifetime — whatever best fits their client’s needs.
• COLA – the cost of living adjustment provides future income increases that allow investors to hedge against inflation. A 1-3% COLA is available but will reduce the initial income amount.
“Nationwide sponsored a recent study by the Oechsli Institute which found that 76 percent of today’s affluent investors expect their advisor to provide them with guaranteed income in retirement1,” said Henderson. “Fixed immediate annuities are one way for advisors to address this need and can be customized to fit a client’s unique situation.”
About Nationwide
Nationwide, based in Columbus, Ohio, is one of the largest and strongest
diversified insurance and financial services organizations in the U.S.
and is rated A+ by A.M. Best2. The company provides a full
range of personalized insurance and financial services, including auto
insurance, motorcycle, boat, homeowners, life insurance, farm, commercial
insurance, administrative services, annuities, mortgages, mutual funds,
pensions, long-term savings plans and health and productivity services.
For more information, visit www.nationwide.com.
12010 Affluent Investor Research, The Oechsli Institute & Nationwide Financial
2A.M. Best, affirmed 3/25/10
The liquidity feature in Nationwide’s Income Promise annuity may not be available in all states.
Annuities have limitations. Please talk with your insurance professional to understand the benefits and limitations of INCOME Promise Select.
INCOME Promise Select, a single-premium immediate fixed annuity, is underwritten by Nationwide Life Insurance Company, Columbus, Ohio.
Nationwide, the Nationwide framemark and On Your Side are service marks of Nationwide Mutual Insurance Company. INCOME Promise Select is a service mark of Nationwide Life Insurance Company.
© 2010 Nationwide Financial Services, Inc. All rights reserved.
These ratings and rankings reflect Rating Agency assessment of the financial strength and claims-paying ability of Nationwide Life Insurance Company and are subject to change at anytime. They are not intended to reflect the investment experience or financial strength of any variable account, which is subject to market risk. Because the dates are only updated when there’s a change in the rating, the dates above reflect the most recent ratings we have received
All guarantees and protections, where available, are subject to the claims-paying ability of Nationwide Life Insurance Company.
