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  • Nationwide increases roll-up rate, payout percentage on L.inc+ suite

    June 22, 2022 by Press Release

    Columbus, OH—June 14, 2022— As inflation continues to rise and the economic environment continues to tighten, Nationwide has announced enhanced rates for the Nationwide Lifetime Income Rider+® (L.inc+) Suite, a set of three riders that offer guaranteed lifetime income with features designed to offer flexibility and stability during market volatility.

    The suite, which is designed to create tailored income strategies for retirees, will offer increased payout percentages and roll-up rates, which are guaranteed increases applied to the initial investment each year on the rider anniversary. 1 These new rates, along with the ability to invest up to 100% in equities with two of the riders, give financial professionals more options when developing a retirement income plan to meet their client’s unique needs.

    Nationwide Lifetime Income Rider+ Core (L.inc+ Core) The roll-up rate will be increased by one percentage point to 6%, with payout percentages increasing by 20 – 35 basis points, based on the owner’s age when they take their first withdrawal. L.inc+ Core was designed for clients seeking consistent and predictable retirement income that will not decrease even if their contract value goes to zero.

    Nationwide Lifetime Income Rider+ Accelerated (L.inc+ Accelerated) The roll-up rate will be increased by half a percentage point t0 6%, with payout percentages increasing by 25 – 50 basis points, based on the owner’s age when they take their first withdrawal. L.inc+ Accelerated was designed for clients who want more income early in retirement and a wider range of investment options, including the ability to invest 100% in equities, which offer a greater opportunity to capture market growth.

    Nationwide Lifetime Income Rider+ Max (L.inc+ Max)

    The roll-up rate will be increased by one and a half percentage points to 7%. L.inc+ Max was designed for clients who expect to need most of their income in the early years of retirement, for example to bridge an income gap until another source of income, such as Social Security, becomes available. It also allows clients to invest up to 100% in equities.

    “Americans are in real danger of outliving their retirement savings as ongoing volatility compounds the existing challenges of greater longevity and an eroding retirement safety net,” said Eric Henderson, president of Nationwide Annuity. “Nationwide’s L.inc+ Suite is designed to provide investors with guaranteed income they can’t outlive, while offering a range of flexible options for their own unique vision of retirement, and we’re excited to be able to offer that with our new competitive rates.”

     

    The Nationwide L.inc+ Suite was launched in March 2020, and 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. It can be added at an additional cost to several Nationwide variable annuities, including Nationwide DestinationSM B 2.0, Nationwide Destination All American Gold® 2.0 and Nationwide Destination NavigatorSM 2.0.

    Originally Posted at InsuranceNewsNet Press Release on June 15, 2022 by Press Release.

    Categories: Industry Articles
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