Nationwide L.inc+ suite enhancements provide greater investment flexibility

Columbus, OH – As investors continue to fret about how inflation and the high cost of living will impact their ability to live confidently in retirement, some are turning to their financial advisor for help, with 20% saying they are frequently discussing how to convert accumulated savings into retirement income, according to Nationwide’s Advisor Authority survey. Now, Nationwide is helping advisors address this challenge with updates to the Nationwide Lifetime Income Rider+ (L.inc+) suite, a set of riders available on certain variable annuities that offer guaranteed lifetime income with features designed to turn investors’ savings into a predictable stream of income in retirement.

Nationwide’s updates to the L.inc+ suite include raising the equity exposure on Nationwide Lifetime Income Rider+ Core (L.inc+ Core) and increasing fund access through the Custom Choice program. These changes are available when purchased on Nationwide Destination All American Gold 2.0, Nationwide Destination B 2.0 and Nationwide Destination Navigator 2.0 variable annuities for an additional fee.

L.inc+ Core Equity Exposure Increase
The maximum equity exposure on L.inc+ Core will increase 10 percentage points to 70%, providing financial professionals with more choices for crafting retirement income solutions that meet their clients’ specific needs. L.inc+ Core is for investors seeking consistent and predictable retirement income that will not decrease even if their contract value goes to zero.

Investment Lineup Enhancements
Nationwide’s Custom Choice program will offer more access to specialized funds for investors who add a L.inc+ rider to their variable annuity, providing them with even greater investment flexibility. Custom Choice allows investors to select from more than 110 funds to build their own portfolio when paired with L.inc+ Core, Nationwide Lifetime Income Rider+ Accelerated (L.inc+ Accelerated), Nationwide Lifetime Income Rider+ Max (L.inc+ Max) or Nationwide Lifetime Income Rider+ Empire in New York. Additionally, L.inc+ Accelerated and L.inc+ Max will now allow investments in any combination of funds with no restrictions.

“At Nationwide, we don’t believe investors should have to choose between growth potential or income when planning for retirement, which is why we’re focused on offering variable annuities with strong investment lineups that provide access to full menus even when an income rider is selected,” said Mike Morrone, vice president of Nationwide Annuity business development. “One of the upsides of high interest rates is that they allow us to produce better consumer value on almost all types of annuities – and it’s never been better for lifetime income on variable annuities. For investors who can’t afford to hope for the best in an uncertain future, annuities paired with riders that offer guaranteed income can be a great solution to help them protect their financial future.”

These new enhancements reinforce Nationwide’s mission to provide customer-focused solutions, strengthening the L.inc+ suite originally launched in March 2020. The suite allows financial professionals to create tailored income solutions to meet their clients’ unique retirement needs with a variety of payout options, equity exposures and flexible features.