Key differentiators include two exclusive new indexes and two options for guaranteed lifetime income.
Nationwide, a financially strong and diversified, Fortune 100 insurance and financial services company, announces the launch of the Nationwide Peak 10® fixed indexed annuity. Peak 10 is the latest addition to Nationwide’s diverse product lineup, and its first annuity in partnership with AmeriLife, a national leader in developing and distributing annuities and retirement planning solutions.
“According to our latest Advisor Authority study, protecting against market losses due to COVID-19 is investors’ number-one financial concern, with protecting assets a close second, and managing volatility third,” said Eric Henderson, president, Nationwide Annuity, at Nationwide Financial. “Our new Nationwide Peak 10 fixed indexed annuity is an effective solution to help mitigate downside risk while still providing growth potential, especially for those clients nearing retirement, at a time in their financial lifecycle when losses can be hard to recoup and every basis point of performance counts.”
Nationwide’s Peak 10 fixed indexed annuity is designed to help manage a low-interest-rate environment, while providing upside potential with principal protection, to guarantee that investors won’t lose any of their initial investment or credited earnings due to the performance of underlying indexes. Nationwide Peak 10 gives advisors and their clients choice and flexibility with a unique combination of features to manage today’s complex markets. These include two exclusive new indexes, a choice of two tailored options for guaranteed lifetime income, and the flexibility of penalty-free access to assets through certain withdrawals and waivers.
“AmeriLife is committed to providing Americans with peace of mind and offering insurance and retirement planning solutions to help them live longer, healthier lives,” said Mike Vietri, Chief Distribution Officer. “We’re thrilled to be the exclusive distribution partner offering the new Nationwide Peak 10 fixed index annuity, and look forward to working with our distribution to educate consumers on the unique features this product can provide in helping pre-retirees and retirees across the country plan for their future.”
Denny Southern, AmeriLife President of Annuities and Retirement Planning Brokerage Distribution added, “We are honored to partner with Nationwide, in offering a financial solution with unique indexing options and very attractive Lifetime Income features. Nationwide’s Peak 10 provides consumers with protection of their hard-earned money, with upside growth potential.”
Two Exclusive New Indexes
Nationwide Peak 10 offers a fixed account and diverse lineup of four indexes, including two exclusive new indexes from leading financial institutions J.P. Morgan and AllianceBernstein. The J.P. Morgan Cycle℠ Index, exclusively available within Nationwide Peak 10, seeks to outperform the market, allocating to stocks and bonds, with an equity allocation that rotates between different “smart beta” factors based on the business cycle. The AllianceBernstein Growth and Value Balanced Index,℠ currently available only in Nationwide Peak 10, seeks to generate consistent returns while maintaining balance to navigate changing markets, with equity and-fixed income sleeves within a single portfolio which is managed to a modest 5% annualized volatility target using a risk-controlled process.
Nationwide Peak 10 also offers the S&P 500® Price Index and the S&P 500® Daily Risk Control Index. The Nationwide Peak 10 fixed account and all four indexes include a diverse range of crediting options. One-year terms are available for the fixed account and index cap crediting options. Two-year terms are available for index participation crediting options. Investors may allocate assets in up to five account options.[i]
Two Options for Guaranteed Income for Life
Guaranteed Income Solution, available at no additional cost, offers a guaranteed 4% simple interest roll-up rate on the investor’s original Income Benefit Base each year for the first 10 years or until the first withdrawal, whichever comes first. Bonus Income+ Rider, an enriched living benefit available for an additional cost, offers a 10% bonus credit included on the investor’s Income Benefit Base, calculated on total premium, and also offers a 7% simple interest roll-up rate on the Income Benefit Base for the first 10 years or until the first-lifetime withdrawal, whichever comes first. Bonus Income+ Rider also provides a joint income option for spouses.
Flexibility to Access Assets
Nationwide Peak 10 also offers investors certain options to access their assets with no surrender charges or market value adjustment. This includes a free withdrawal of up to 10% of their contract value.[iii] A long-term care or confinement waiver[iv] and a terminal illness or injury waiver[v] are also available. In addition, Nationwide Peak 10 is RMD-friendly, even if required minimum distributions exceed 10% of the investor’s contract value.[vi]
Nationwide Peak 10® Fixed Indexed Annuity will be available to consumers through financial professionals across the U.S., exclusively through AmeriLife’s national distribution network of over 200,000 insurance agents and advisors, more than 35 marketing organizations, and over 50 insurance agency locations.
Financial professionals interested in Nationwide Peak 10® Fixed Indexed Annuity should contact their IMO marketer. Individual investors interested in learning more about the benefits of Nationwide Peak 10® Fixed Indexed Annuity should contact their financial professional or visit https://NationwideFinancial.com/Peak10.