Nationwide Summit Fixed Indexed Annuity Includes the Popular J.P. Morgan MOZAIC Index (USD)
COLUMBUS, Ohio, July 11, 2017 /PRNewswire/ — Nationwide, a leading insurance and financial services organization, announced today a new fee-based fixed indexed annuity (FIA) option. Nationwide Summit fixed indexed annuity is the first FIA in their lineup designed to better fit the needs of Registered Investment Advisors (RIAs) and fee-based advisors. Nationwide Summit offers capital preservation without sacrificing growth potential and features the exclusive J.P. Morgan MOZAIC Index (USD).
“Nationwide recognizes the growing market demand for alternatives to help hedge the risk of traditional portfolios managed by RIAs and fee-based advisors,” said Mike Morrone, associate vice president of fixed annuity product strategy at Nationwide. “In today’s low-interest rate environment, the fee-based Summit FIA with the J.P. Morgan MOZAIC Index (USD) offers a powerful accumulation opportunity with no downside market risk.”
Summit is currently the only fee-based FIA offering access to the J.P. Morgan MOZAIC Index (USD). Through 18 years of live and back-tested performance, the index would have provided a 5.35% compound annual return with 78% less volatility than the S&P 500® Price Index.1 Nationwide Summit also includes the S&P 500® Price Index and a fixed account option.
“Nationwide is committed to helping RIAs and financial advisors meet a variety of their clients’ needs,” said Eric Henderson, Nationwide senior vice president of life insurance and annuities. “We’re excited to be on the leading edge of a new market and help shift the risk-return profile of clients’ portfolios.”
The fee-based Summit is exclusively available through the Annexus network of independent distribution companies.
Co-founded by Ron Shurts and Don Dady, Annexus designs solutions to help Americans grow and protect their retirement savings. For over a decade, Annexus has developed market-leading fixed indexed annuities and indexed universal life insurance products. In close collaboration with design partner Genesis Financial, Annexus has forged relationships with the industry’s leading insurance carriers and world’s largest investment banks. Find out more about Annexus and our products at www.annexus.com.
Nationwide, a Fortune 100 company 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 both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
1 From 12/31/1998 – 12/31/2016. The J.P. Morgan MozaicSM Index (USD) was established on April 17, 2009. Performance prior to that date is back-tested by applying the index strategy, which was designed with the benefit of hindsight, to historical financial data when all components are available. Back-tested performance is hypothetical and has been provided for informational purposes only. The S&P 500® Price Index results are actual performance for the full period. Past performance is not indicative of nor does it guarantee future performance. The hypothetical data above does not take index fees or transaction costs into account.
Guarantees and protections are subject to the claims-paying ability of Nationwide Life and Annuity Insurance Company. Nationwide Summit is underwritten by Nationwide Life and Annuity Insurance Company, Columbus, Ohio.
Neither Nationwide nor its associated companies are affiliated with Annexus and its affiliates.
The J.P. Morgan MOZAICSM Index (USD) (“Index”) has been licensed to Nationwide Life and Annuity Insurance Company (the “Licensee”) for the Licensee’s benefit. Neither the Licensee nor Nationwide SummitSM Fixed Indexed Annuity (the “Product”) is sponsored, operated, endorsed, recommended, sold or promoted by J.P. Morgan Securities LLC (“JPMS”) or any of its affiliates (together and individually, “JPMorgan”). JPMorgan makes no representation and gives no warranty, express or implied, to contract owners taking exposure to the Product. Such persons should seek appropriate professional advice before making any investment. The Index has been designed and is compiled, calculated, maintained and sponsored by JPMS without regard to the Licensee, the Product or any contract owner. JPMorgan is under no obligation to continue compiling, calculating, maintaining or sponsoring the Index. JPMorgan may independently issue or sponsor other indices or products that are similar to and may compete with the Index and the Product. JPMorgan may also transact in assets referenced in the Index (or in financial instruments such as derivatives that reference those assets). These activities could have a positive or negative effect on the value of the Index and the Product.
The “S&P 500” is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Nationwide Life and Annuity Insurance Company (“Nationwide”). Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); DJIA®, The Dow®, Dow Jones® and Dow Jones Industrial Average are trademarks of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Nationwide. Nationwide Summit fixed indexed annuity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500.
Nationwide, Nationwide is on your side, the Nationwide N and Eagle and Nationwide Summit are service marks of Nationwide Mutual Insurance Company. © 2017 Nationwide
Brian Welsh, VP of Marketing
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