Nationwide Introduces First-Time Index Option for FIAs in Expanded New Heights Lineup
June 9, 2015 by Ryan Ankrom
Today, Nationwide® enhanced its New Heights® fixed indexed annuities (FIA) with the J.P. Morgan MOZAICSM Index (USD), a dynamic, multi-asset index from the award-winning index design team at J.P. Morgan. The Index is one of three index allocation strategies available on the expanded New Heights lineup of four products.
“The innovation behind New Heights FIAs is that they offer principal protection and earning potential beyond what’s offered by traditional fixed indexed annuities,” said Eric Henderson, senior vice president of life insurance and annuities at Nationwide. “When you pair that opportunity with J.P. Morgan MOZAIC’s six-year track record of generating stable returns, New Heights FIAs present an attractive retirement income solution for clients looking for accumulation and capital preservation.”
J.P. Morgan MOZAIC is a multi-asset index designed to create consistent returns based on a combination of broad diversification, positive momentum and volatility smoothing. The Index rebalances a diverse range of asset classes and geographic regions each month to create positive returns with low volatility. Since it launched in April 2009, the index has generated an average annualized return of 4.9 percent.
Advisors and clients also have the choice of the S&P 500® or MSCI EAFE for index allocation.
Nationwide New Heights 8, 9, 10 and 12 offer advisors the flexibility to help match the individual planning needs of each client with product differentiations that include varying CDSC schedules and a range of strategy options with unique crediting factors.
Additionally, New Heights offers the choice of two optional riders for an additional cost, each available with a purchase payment bonus option1. The Nationwide High Point® 365Lifetime Income Benefit rider helps clients meet their retirement income needs, while the Nationwide High Point® Enhanced Death Benefit rider provides legacy planning options2. Both riders offer clients the greater of potential growth of their contract value or a fixed rate increase on their premium.
Nationwide worked with Annexus, a leading fixed indexed annuity product designer, on the New Heights lineup enhancement. Annexus also distributes the products through independent marketing organizations. New Heights is available to Nationwide’s affiliated agency force, independent distributors and bank and wirehouse channels.
“Market volatility and low interest rates have increased client demand for principal protection, yet clients still want their investments to have the opportunity for growth,” said Ron Shurts, co-founder of Annexus. “Filling that need has driven our product development efforts the past few years. The New Heights suite reflects our expertise and Nationwide’s focus on stable, diversified growth.”
Visit www.nationwide.com or call 1-800-321-6064 for more information about Nationwide New Heights FIAs. IMO advisors should contact their Annexus representative with questions about New Heights.
1Product and rider availability may vary by state.
2Only one rider can be purchased per contract.
About Nationwide
Nationwide, a Fortune 100 company 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 both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
About Annexus
Annexus is an industry-leading designer of indexed annuity and index universal life products. Working with design partners including Genesis Financial, Annexus products have attracted the attention of top insurance carriers including Nationwide due to their innovative hedging and crediting methodologies. The consumer benefit of the product designs has attracted an elite network of financial professionals to partner in distributing cutting edge retirement solutions to their clients planning for retirement.
Nationwide New Heights is underwritten by Nationwide Life and Annuity Insurance Company, Columbus, Ohio 43215.
The “S&P 500” is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Nationwide Life and Annuity Insurance Company (“Nationwide”). Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); DJIA®, The Dow®, Dow Jones® and Dow Jones Industrial Average are trademarks of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Nationwide. Nationwide New Height fixed indexed annuity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500.
The product referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such product or any index on which such product is based. The Contract contains a more detailed description of the limited relationship MSCI has with Nationwide and any related funds.
The J.P. Morgan MOZAICSM Index (USD) (“Index”) has been licensed to Nationwide Life and Annuity Insurance Company (the “Licensee”) for the Licensee’s benefit. Neither the Licensee nor Nationwide New Heights® Fixed Indexed Annuity (the “Product”) is sponsored, operated, endorsed, recommended, sold or promoted by J.P. Morgan Securities LLC (“JPMS”) or any of its affiliates (together and individually, “JPMorgan”). JPMorgan makes no representation and gives no warranty, express or implied, to contract owners taking exposure to the Product. Such persons should seek appropriate professional advice before making any investment. The Index has been designed and is compiled, calculated, maintained and sponsored by JPMS without regard to the Licensee, the Product or any contract owner. JPMorgan is under no obligation to continue compiling, calculating, maintaining or sponsoring the Index. JPMorgan may independently issue or sponsor other indices or products that are similar to and may compete with the Index and the Product. JPMorgan may also transact in assets referenced in the Index (or in financial instruments such as derivatives that reference those assets). These activities could have a positive or negative effect on the value of the Index and the Product.
Neither Nationwide or any of its affiliates are related to, or affiliated with J.P. Morgan, Standard & Poors or MSCI.
