15
June
2020
|
15:05 PM
America/New_York

Nationwide Introduces New Nationwide Lifetime Income Rider+SM (L.inc+) Suite to Provide Protected Retirement Income with Greater Choice and Flexibility

L.inc+ Offers Range of Payout Options, Equity Exposures and Flexible Features Designed to Meet Clients’ Unique Retirement Income Needs

Columbus, OH - Investors say that being unable to retire as planned is among their top three financial concerns related to the COVID-19 pandemic. More than half agree that the pandemic has made them recognize the need for annuities to protect their retirement income (51%) and to protect their investments against market risk (51%) according to a recent survey from the Nationwide Retirement Institute.

Nationwide, one of the strongest, diversified, Fortune 100 insurance and financial services companies, has launched the Nationwide Lifetime Income Rider+℠ (L.inc+) Suite, available for an additional cost with certain Nationwide DestinationSM 2.0 variable annuities. The Nationwide L.inc+ Suite is designed as a flexible solution for financial professionals to help clients meet their unique retirement income needs—whether they seek a consistent income stream that will never decrease, a fluctuating income stream with more market exposure for greater growth potential, or a front-loaded stream to fill an income gap. All guarantees and protections are subject to the claims paying ability of Nationwide Life Insurance Company.

“Americans are in real danger of outliving their retirement savings, as today’s persistent low rates and ongoing volatility compound the existing challenges of greater longevity and an eroding retirement safety net,” said Eric Henderson, president, Nationwide Annuity, at Nationwide Financial. “Annuities with income guarantees have become more important to investors, especially those who have lived through the crash of 2008 and are now living through this current crisis. Nationwide’s L.inc+ Suite is designed to provide investors with guaranteed income they can’t outlive, while offering a range of flexible options for their own unique vision of retirement.”

The Nationwide Linc+ Suite, including three different Guaranteed Lifetime Withdrawal Benefits (GLWBs), allows financial professionals to tailor a solution to meet their clients’ unique needs for retirement income for life, with a variety of payout options, equity exposures and flexible features:

Nationwide Lifetime Income Rider+℠ Core (L.inc+ Core): Consistent retirement income for life. For clients seeking a level of certainty for predictable retirement income by converting part of their savings into a steady retirement paycheck. L.inc+ Core offers guaranteed income with maximum equity exposure of 60%.

Nationwide Lifetime Income Rider+ Accelerated (L.inc+ Accelerated): Retirement income for life with greater growth potential. For clients who are comfortable with fluctuating retirement income in exchange for greater growth potential. L.inc+ Accelerated offers guaranteed income for life with the ability to allocate up to 100% in equities.

Nationwide Lifetime Income Rider+ Max (L.inc+ Max): Front-loaded retirement income for life. For clients who expect to need more of their income in the early years of retirement, for example to bridge an income gap until another source of income, such as Social Security, becomes available. L.inc+ Max offers guaranteed income for life with 100% equity exposure for greater growth potential.

To help meet clients’ changing needs, Nationwide is the first to offer an Income Carryforward feature1, to roll forward one year of unused income during the income phase2. Nationwide’s L.inc+ Suite also provides clients the flexibility to access assets if needed through a one-time Non-Lifetime Withdrawal that won’t impact the roll-up rate to the income benefit base3.

The L.inc+ Suite offers 5% roll up to the income benefit base during the accumulation phase4, and it provides monthly income for life—even if the contract value falls to zero5. The suite offers protection against market risk through an annual step-up feature to lock in the income benefit base at the highest anniversary contract value—regardless of what happens in the market. L.inc+ also offers inflation protection through a simple interest roll-up rate.

In addition, the L.inc+ Suite offers enhanced dollar cost averaging and asset rebalancing, offers the ability to take IRS required minimum distributions (RMDs) without impacting guaranteed lifetime income, and income is calculated on a calendar year basis, to simplify clients’ planning by knowing exactly when their annual income will re-set.

Visit https://www.nationwide.com/personal/investing/annuities/riders/types/lifetime-income-plus or call 1-800-321-6064 for more information about the L.inc+ Suite.

About Nationwide

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.