Nationwide adds death benefit features to Defined Protection RILA
July 6, 2022 by Press Release
Columbus, OH – Nationwide announced the launch of enhanced legacy features to the Nationwide Defined Protection Annuity (DPA), a registered index-linked annuity.
The two new death benefit features, which are available at no extra cost, are uniquely positioned to fit the emerging needs of financial professionals and their clients in today’s challenging economic environment.
- Return of Premium (ROP) Death Benefit Feature – This feature guarantees beneficiaries will receive no less than the original premium invested in the annuity. It is automatically added if the annuitant and co-annuitant are both 75 or younger on the application sign date.
- Spousal Protection Feature (SPF) – This feature protects both spouses and provides a death benefit on both of their lives, even on qualified contracts.
“During this time, when markets are volatile and costs for most goods and services are increasing, we are excited to be able to offer these benefits to our customers at no additional charge,” said Eric Henderson, president of Nationwide Annuity. “Adding these features will make this a more attractive option for investors looking to protect their assets in uncertain markets, while enhancing the legacy they will pass to their loved ones.”
Nationwide DPA, which was created with product development partner Annexus, the premier independent designer of indexed retirement solutions, also provides three defined protection levels which limit negative performance. This allows clients to select how much of their investment—90%, 95% or 100%—will be protected from market losses and helps determine their performance opportunities. DPA also features a variety of index strategies that can offer upside potential and be tailored to fit a broad range of investment objectives.