ONdex fixed indexed annuity adds higher cap S&P 500® index option
August 26, 2020 by Ohio National Financial Services
CINCINNATI, Aug. 17, 2020 (GLOBE NEWSWIRE) — Ohio National Financial Services is pleased to announce the addition of the Annual Point-to-Point with S&P 500 (Higher Cap) allocation option to its ONdex fixed indexed annuity (FIA). The new option may help clients capture more market growth during periods of strong performance, while offering market loss protection and expanding the flexibility of the ONdex FIA to meet different client needs.
The ONdex annuity, a new single premium fixed indexed annuity, was introduced to Ohio National’s portfolio in May of this year. It provides customers with the opportunity to accumulate assets by earning tax-deferred interest based, in part, upon the performance of a market index.
“We believe the new index option is a game changer for the ONdex annuity, because it is capable of capturing more growth in strong markets,” said Michael J. DeWeirdt, CFA, FRM, senior vice president and chief product officer. “This index has a lower participation rate and a higher cap, which we believe is capable of outperforming options with a 100% participation rate and a lower cap when markets are performing especially well. More choices add more possibilities for those who are retired or close to retirement and looking for growth with built in protection.”
The new annual point-to-point index option now gives the ONdex annuities five quality index-based allocation options and a fixed accumulation account. This increases the possibility for clients to develop unique allocation profiles, depending on their specific needs and circumstances. With 7- and 10-year surrender periods available, clients can use the annuity to build assets that can be available to them on their anticipated retirement timeline.
About Ohio National
Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2019, its affiliated companies have $40.5 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Please visit ohionational.com for more information and for the latest company updates, connect with Ohio National on LinkedIn, Facebook and YouTube.