According to a Wall Street Journal article, New York Department of Financial Services Superintendent Benjamin Lawsky has asked 134 insurers in the state to provide information about IUL illustrations....
COLUMBUS, OH, June 15 -- Nationwide Mutual Insurance issued the following news release:
Building on its long-term partnership, Nationwide Financial today introduced Nationwide Income Architect(TM) Annuity (NIAA) to help fee-based Wells Fargo financial advisors (http://www.nationwide.com/cps/nf-awe-home.htm) help maximize income potential while helping to reduce risk for clients.
The new product is an individual, flexible premium, deferred variable annuity (http://www.nationwide.com/annuity-investments.jsp) with a Guaranteed Lifetime Withdrawal Benefit that provides clients with guaranteed retirement income. It does this in the form of a simplified, no-load variable annuity that allows advisors to construct individual fund portfolios for their clients with product and living benefit fees of just 1.0 percent.*
"The introduction of Nationwide Income Architect is a great example of how we like to work with our partner firms to develop solutions for their specific needs." said Eric Henderson, senior vice president of Individual Products and Solutions for Nationwide Financial. "NIAA is backed by credible research that will make it easy for Wells Fargo Advisors to help clients understand how a variable annuity with guaranteed lifetime withdrawal benefit can complement their existing portfolio."
Research by Ibbotson Associates (https://ssc.nwservicecenter.com/media/pdf/NFM-5303AO.pdf), sponsored by Nationwide, finds adding a variable annuity with a guaranteed lifetime withdrawal benefit to a traditional retirement portfolio can increase retirement income (http://www.nationwide.com/investments-and-retirement.jsp) potential while helping to decrease income risk.
"This research has opened the eyes of many fee-based advisors who may not have previously appreciated the role a variable annuity can play in client portfolios," Henderson said. "Ibbotson makes a very compelling case for advisors who are looking for opportunities to enhance income potential for clients, while helping to reduce risk."
Nationwide Income Architect is a comprehensive product that offers value to clients by way of triple protection: Lifetime income with the ability to cover a spouse; tax deferred growth; and asset allocation with diversification.
TNS C 71NayakRashmita 120615-JF78-3911761 StaffFurigay