L.inc Advisory annuity income benefit rider payout percentages increase

Columbus, OH — For the second quarter in a row, Nationwide is the top provider of Advisory annuities, as reported by LIMRA. Now the company is increasing payout percentages on the Nationwide Lifetime Income Rider Advisory (L.inc Advisory).

Payout percentages are increasing by 5 - 40 basis points, based on the owner’s age when they take their first withdrawal. These new rates will allow financial professionals to provide more guaranteed lifetime income to their clients when developing their retirement plans.

L.inc Advisory is for clients who want to know what their minimum guaranteed income will be in retirement. In addition to strong payout percentages, L.inc Advisory has a 7% simple interest roll-up rate, which is a guaranteed increase applied to the initial investment each year on the rider anniversary for purposes of calculating the rider payout amount³. This roll-up can help clients stay ahead of inflation.

“Americans are in danger of outliving their retirement savings as ongoing volatility adds to the existing challenges of greater longevity and an eroding retirement safety net,” said Eric Henderson, president of Nationwide Annuity. “One of the benefits of rising rates is that they allow us to produce better consumer value on virtually all types of annuities. Research shows that allocating a portion of a portfolio to guaranteed income can improve client outcomes, and Nationwide is committed to providing solutions that help financial professionals do just that.”

Nationwide L.inc Advisory was launched in September 2019, and can be added at an additional cost to the Nationwide Advisory Retirement Income Annuity.