New automatic features enhance the legacy planning process for clients at no additional cost
Columbus, OH—June 7, 2022— Nationwide announced today the launch of enhanced legacy features to the Nationwide Defined Protection® Annuity (DPA), a registered index-linked annuity (RILA).
The two new death benefit features, which are available at no extra cost, are uniquely positioned to fit the emerging needs of financial professionals and their clients in today’s challenging economic environment.
- Return of Premium (ROP) Death Benefit Feature – This feature guarantees beneficiaries will receive no less than the original premium invested in the annuity. It is automatically added if the annuitant and co-annuitant are both 75 or younger on the application sign date.1
- Spousal Protection Feature (SPF) – This feature protects both spouses and provides a death benefit on both of their lives, even on qualified contracts.2
“During this time, when markets are volatile and costs for most goods and services are increasing, we are excited to be able to offer these benefits to our customers at no additional charge,” said Eric Henderson, president of Nationwide Annuity. “Adding these features will make this a more attractive option for investors looking to protect their assets in uncertain markets, while enhancing the legacy they will pass to their loved ones.”
Nationwide DPA, which was created with product development partner Annexus, the premier independent designer of indexed retirement solutions, also provides three defined protection levels which limit negative performance. This allows clients to select how much of their investment—90%, 95% or 100%—will be protected from market losses and helps determine their performance opportunities.3 DPA also features a variety of index strategies that can offer upside potential and be tailored to fit a broad range of investment objectives.
Financial professionals interested in Nationwide DPA should contact their Nationwide wholesaler or call the National Sales Desk at 1-800-321-6064. Individual investors interested in learning more about the benefits of defined protection should contact their financial professional or visit www.definedprotection.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 United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.
Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, OH. Nationwide Retirement Institute is a division of NISC.
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Annexus designs solutions to help Americans grow and protect retirement savings. For over a decade, Annexus has developed market-leading fixed indexed annuities and indexed universal life insurance products. Our products have forged partnerships with the industry’s leading insurance carriers and the world’s largest investment banks. A handpicked network of financial professionals use Annexus solutions to help clients take control of their retirement. Find out more at www.annexus.com.
1 Under the Return of Premium Death Benefit, the Death Benefit is equal to the greater of the Contract Accumulation Value, or the purchase payment amount adjusted proportionately for any withdrawals.
2 After the first spouse’s death, the surviving spouse may continue the contract and name new beneficiaries. From that point on, any withdrawals will be treated as Preferred Withdrawals, and will receive full gains/losses and will not be subject to CDSC or an MVA. If the contract contains the Return of Premium Death Benefit, upon the first spouse’s death, the Contract Accumulation Value will be set equal to the purchase payment amount (adjusted for withdrawals), if greater. Upon the surviving spouse’s death, the Death Benefit (including the ROP if applicable) will be paid to the beneficiaries. Please see the product prospectus for more detailed information.
3 Please note that not all Strategies may be available at all times or in all states. In addition, your firm may limit the Strategies that are available to you. For more information on all available Strategies, please see the prospectus.
Nationwide Defined Protection is an individual single purchase payment deferred annuity with index-linked strategies issued by Nationwide Life Insurance Company, Columbus, Ohio. The general distributor is Nationwide Investment Services Corporation, member FINRA. Please note, the contract does not directly participate in any stock or equity investments. Withdrawals are subject to income tax, and withdrawals before age 59½ may be subject to a 10% early withdrawal federal tax penalty. The contract prospectus contains information about the contract’s features, risks, charges, and expenses. Prospectuses are available from Nationwide. Clients should read the prospectus carefully before investing.
When evaluating the purchase of an annuity, your clients should be aware that annuities have limitations. They are long-term vehicles designed for retirement purposes. They are not intended to replace emergency funds, to be used as income for day-to-day expenses or to fund short-term savings goals. Please read the contract for complete details. Withdrawals are subject to income tax, and withdrawals before age 59½ may be subject to a 10% early withdrawal federal tax penalty.
Guarantees and protections referenced within are subject to the claims-paying ability of Nationwide Life Insurance Company.
Nationwide Defined Protection Annuity does not directly participate in any stock, equity investments or index. It is not possible to invest directly in an index. Please consult the prospectus for more information on the available index options.
Neither Nationwide nor any of its associated subsidiaries are affiliated with Annexus.
The Defined Protection Annuity is offered through Annexus Securities, LLC, a registered broker/dealer. Annexus Securities, LLC is located at 16767 N. Perimeter Dr, Suite 320, Scottsdale, AZ 85260 and can be reached at 480-321-8992.