Nationwide Financial Launches Modified Guaranteed Annuity.
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)|
|Article Type:||Brief Article|
|Date:||Sep 1, 2001|
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