COLUMBUS, Ohio--(BUSINESS WIRE)--Nationwide Financial and Annexus announced today a new partnership and the launch of Nationwide New HeightsSM, a fixed indexed annuity product built to capitalize on what both companies see as a market poised for robust growth.
In today’s low interest rate environment, fixed indexed annuities may be more appealing than other fixed investment options in the eyes of advisors and consumers. New Heights, along with its two optional riders, is built for risk-averse clients who want the stability that a fixed product provides while also having upside growth potential and a return of principal.
“New Heights offers uncapped earning potential, a rarity in the fixed indexed annuity world,” said Eric Henderson, senior vice president of Life Insurance and Annuities for Nationwide Financial. “The innovation behind New Heights is an example of how we’re adding new products to our portfolio to enhance advisor choice and diversify Nationwide’s risk profile. This supports increased capacity for risk and our long-term commitment to existing products, including variable annuities.”
Starting today, Annexus, a leading fixed indexed annuity product designer, will market and distribute the product through Independent Marketing Organizations (IMO). New Heights also will be available to Nationwide’s exclusive agents, independent distributors and bank and wirehouse channels next month.
“The Nationwide-Annexus partnership provides advisors with the products, training, tools and support they need to help their clients achieve their financial goals given today’s retirement realities,” said Don Dady, co-founder of Annexus. “Our strategic partnership will uniquely allow clients to capitalize on uncapped market upside potential without risking principal loss.”
Advisors can choose between two optional riders for an additional cost, each available with a purchase payment bonus option. The Nationwide High Point 365SM Lifetime Income Benefit rider helps clients meet their retirement income needs, and the Nationwide High PointSM Enhanced Death Benefit rider provides legacy planning options. Both offer clients the greater of potential growth of their contract value or a fixed rate increase on their premium.
“With our innovative product development team, marketing and distribution expertise, and robust administrative platform, we are perfectly aligned with Nationwide’s vision for strategically positioning fixed indexed annuity products as a complement to their current product portfolio,” said Ron Shurts, co-founder of Annexus.
IMO advisors should contact their Annexus representative with questions about New Heights. As of March 3, advisors can call Nationwide at 1-800-321-6064 for more information.
Founded in 2006, Annexus has quickly grown to become a leading designer and marketer of Fixed Indexed Annuity products in the financial sector with over $13 billion in total sales. Annexus’ success is founded on product innovation to better serve policyholders and strengthen distribution relationships. Equally important, Annexus, working with Genesis Financial Development, brings highly specialized risk management capabilities that enhance a carrier’s ability to underwrite FIA products. The Annexus product development team, including Genesis, has created the next-generation of pricing and hedging methodologies in living benefits and principal-protected retirement products, earning 13 patents to date, with another 23 patents pending. Annexus’ FIA, powered by the patented Balanced Allocation Strategy, has repeatedly been recognized by industry experts as one of the best in the market, winning multiple SeniorMarket Advisor Readers’ Choice Awards. www.annexusgroup.com
Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by A.M. Best. The company provides a full range of personalized insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services. For more information, visit www.nationwide.com.
Nationwide, Nationwide Financial, the Nationwide framemark, Nationwide YourLife and On Your Side are service marks of Nationwide Mutual Insurance Company.
Guarantees are subject to the claims-paying ability of the issuing insurance company.
Nationwide New Heights is issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.
Annexus is not related to or affiliated with Nationwide Financial or any of its affiliates or subsidiaries.