Nassau Financial Group launched Simple Annuity, its inaugural iOS mobile application, to support the sales of its fixed rate annuities.
The Simple Annuity app marks a key step in Nassau’s efforts to redesign the sales and consumer experience for annuities, empowering agents with digital tools to support sales and help consumers take charge of their retirement savings strategy in a direct, tech-forward way. The tool offers quick access to rates as high as 2.75%* for a 6-year term.
With the launch of Simple Annuity, Nassau helps consumers move forward with planning for retirement even when it is difficult to get traditional face-to-face investment and retirement advice. With Simple Annuity, consumers can compare and track rates across different savings products from multiple companies and industries, get savings tips, and take online savings courses all from the convenience of their iPhone® device (and has plans to offer a version of its app for Android™ devices). These tools are all designed to help consumers find solutions to today’s challenges including record low interest rates, record high market volatility and COVID-19’s disruption to the economy.
Simple Annuity also allows consumers to purchase Nassau’s multi-year guaranteed annuity (MYGA), “Nassau Simple Annuity,” which currently offers a fixed rate over a term of years and at a competitive rate compared to CDs. The process to purchase a Nassau Simple Annuity takes minutes via the Simple Annuity app and requires only tapping through a few questions and taking a picture of a driver’s license. A consumer can choose to apply by themselves or with the support of an independent insurance producer through phone, video or instant chat support.