Nationwide Summit(SM) Fixed Indexed Annuity Includes the Popular J.P. Morgan MOZAIC(SM) Index (USD)
COLUMBUS, Ohio, July 11, 2017 /PRNewswire/ — Nationwide, a leading insurance and financial services organization, announced today a new fee-based fixed indexed annuity (FIA) option.
Nationwide Summit fixed indexed annuity is the first FIA in their lineup designed to better fit the needs of Registered Investment Advisors (RIAs) and fee-based advisors. Nationwide Summit offers capital preservation without sacrificing growth potential and features the exclusive J.P. Morgan MOZAIC Index (USD).
“Nationwide recognizes the growing market demand for alternatives to help hedge the risk of traditional portfolios managed by RIAs and fee-based advisors,” said Mike Morrone, associate vice president of fixed annuity product strategy at Nationwide. “In today’s low-interest rate environment, the fee-based Summit FIA with the J.P. Morgan MOZAIC Index (USD) offers a powerful accumulation opportunity with no downside market risk.”
Summit is currently the only fee-based FIA offering access to the J.P. Morgan MOZAIC Index (USD). Through 18 years of live and back-tested performance, the index would have provided a 5.35% compound annual return with 78% less volatility than the S&P 500® Price Index.1 Nationwide Summit also includes the S&P 500® Price Index and a fixed account option.
“Nationwide is committed to helping RIAs and financial advisors meet a variety of their clients’ needs,” said Eric Henderson, Nationwide senior vice president of life insurance and annuities. “We’re excited to be on the leading edge of a new market and help shift the risk-return profile of clients’ portfolios.”
The fee-based Summit is exclusively available through the Annexus network of independent distribution companies.
Annexus designs solutions to help Americans grow and protect their retirement savings. For over a decade, Annexus has developed market-leading fixed indexed annuities and indexed universal life insurance products. In close collaboration with design partner Genesis Financial, Annexus has forged relationships with the industry’s leading insurance carriers and world’s largest investment banks. Find out more about Annexus and our products at www.annexus.com.
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; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
1 From 12/31/1998 – 12/31/2016. The J.P. Morgan MozaicSM Index (USD) was established on April 17, 2009. Performance prior to that date is back-tested by applying the index strategy, which was designed with the benefit of hindsight, to historical financial data when all components are available. Back-tested performance is hypothetical and has been provided for informational purposes only. The S&P 500® Price Index results are actual performance for the full period. Past performance is not indicative of nor does it guarantee future performance. The hypothetical data above does not take index fees or transaction costs into account.