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 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 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 Rate of interest The rate, as a proportion of the principal, at which interest is computed. or choose another investment option. The Platinum Edge is distributed through independent broker Independent broker NYSE member who executes orders for floor brokers and firms other than its own. dealers, banks and regional wirehouses.
|
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion