Nationwide Financial Launches Modified Guaranteed Annuity.
Nationwide Financial, Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. , has introduced an annuity annuity: see insurance.
Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. it says can "bridge the gap" between corporate bond and variable-annuity investments.
The Best of America Platinum Edge Annuity offers a guaranteed interest rate that may be higher than traditional fixed annuities Fixed annuities
Contracts in which an insurance company or issuing financial institution pays a fixed dollar amount of money per period. , along with a diverse holding of underlying income investments. Owners may split their initial investment into $1,000 minimums among eight guarantee periods. Early withdrawals are subject to a market-value adjustment tied to an external measure, the Interest Rate Swap Interest Rate Swap
A deal between banks or companies where borrowers switch floating-rate loans for fixed rate loans in another country. These can be either the same or different currencies. Yield, rather than a company benchmark. They also are subject to a surrender charge Surrender Charge
A fee levied on a life insurance policyholder upon cancellation of his or her life insurance policy. The fee is used to cover the costs of keeping the insurance policy on the insurance provider's books. matching the guarantee period. The company also provides owners with a short-term "transition account" that allows them to "park" their money without charges until they decide on a new guarantee period, wait for a certain rate of interest or choose another investment option.
The Platinum Edge is distributed through independent broker dealers, banks and regional wirehouses.