NU Online News Service, June 27, 4:45 p.m. – Nationwide Financial Services Inc., Columbus, Ohio, has launched an annuity product it says bridges the gap between corporate bond and variable annuity investments.
The Best of America Platinum Edge Annuity is a modified guaranteed annuity that offers a guaranteed interest rate that may be higher than that offered by traditional fixed annuities. Investors also benefit from tax deferral and a diverse holding of underlying income investments.
The Best of America Platinum Edge Annuity has a short-term transition account that allows investors to park their money without charges or fees until they decide on a new guarantee period, wait for a rate of interest or choose another investment option.
The annuity will be distributed through independent broker dealers, banks and regional wirehouses.