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Nationwide Financial Launches Modified Guaranteed Annuity.

Nationwide Financial, Columbus, Ohio, has introduced an annuity 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, 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 Yield, rather than a company benchmark. They also are subject to a surrender charge 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.
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Title Annotation:Best of America Platinum Edge Annuity
Comment:Nationwide Financial Launches Modified Guaranteed Annuity.(Best of America Platinum Edge Annuity)
Publication:Best's Review
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 1, 2001
Words:150
Previous Article:Righting Past Wrongs.
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