July 26, 2002 at 08:00 PM
NU Online News Service, July 26, 10:25 a.m. – Nationwide Financial Services Inc., Columbus, Ohio, has introduced a new single-premium, deferred fixed annuity, the Nationwide Quatro Select Annuity contract.
Purchasers can choose one-year, three-year, five-year or seven-year interest-rate guarantee options, and the contract guarantees that renewal interest rates will not drop below 3%.
The contract pays more interest in the first year to purchasers who put in more cash, Nationwide says.
Nationwide will not charge up-front load fees or annual administration charges, and it will waive early-withdrawal charges for annuitants and beneficiaries who withdraw cash to cope with nursing home confinement of the annuitant, a terminal illness affecting the annuitant, the death of the annuitant, or individual retirement accountant minimum distribution requirements.
Nationwide plans to distribute the annuity through agents, banks and thrifts.
NOT FOR REPRINT
© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Copyright © 2023 ALM Global, LLC. All Rights Reserved.
