L.inc Advisory Annuity Income Rider Payout Percentages Increase – InsuranceNewsNet
Columbus, OH – For the second consecutive quarter, Nationwide is the top provider of advisory annuities, as reported by LIMRA. Now the company is increasing payout percentages on the National Lifetime Income Rider Advisory (L.inc Advisory).
Payout percentages increase by 5 to 40 basis points, depending on the age of the owner when they make their first withdrawal. These new rates will allow financial professionals to offer their clients a more guaranteed lifetime income when developing their retirement plan.
L.inc Advisory is aimed at clients who want to know what their guaranteed minimum income will be at retirement. In addition to high payout percentages, L.inc Advisory has a simple interest rate of 7%, which is a guaranteed increase applied to the initial investment each year on the anniversary of the endorsement for the purposes of calculating the amount. of the payment of the amendment.3. This accumulation can help clients stay ahead of inflation.
“Americans are at risk of outliving their retirement savings as continued volatility adds to the existing challenges of greater longevity and an eroding retirement safety net,” said Eric Henderson, president of Nationwide Annuity. “One of the benefits of the rate hike is that it allows us to produce better consumer value on virtually all types of annuities. Research shows that allocating a portion of a portfolio to guaranteed income can improve client outcomes, and Nationwide is committed to providing solutions that help finance professionals do just that.
Nationwide L.inc Advisory was launched in September 2019 and can be added for an additional fee to the Nationwide Advisory retirement annuity.