|[February 10, 2014]
Nationwide Financial, Annexus Partnership Offers Advisors New Fixed Indexed Annuity
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
"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
alow 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
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.
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