|Source: ||Business Wire, Inc.|
Nationwide Financial Announces New Liquidity Option in Its INCOME
Promise® Fixed Immediate Annuity
COLUMBUS, Ohio--(BUSINESS WIRE)--
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 http://www.nationwide.com/income-promise.jsp. 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
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
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, http://www.nationwide.com/life-insurance.jsp, farm, commercial insurance, administrative services,
annuities, mortgages, mutual funds, pensions, long-term savings plans
and health and productivity services. For more information, visit http://www.nationwide.com.
1 2010 Affluent Investor Research, The Oechsli Institute &
2 A.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.
Jeff Whetzel, 614-249-6354