Ohio National, Cincinnati, has experienced record-setting ONcore sales growth in the six months since strengthening its ONcore variable annuity benefit rider lineup with the addition of two new Guaranteed Minimum Income Benefit Plus (GMIB Plus) riders and new Annual Reset Death Benefit Rider (ARDBR).
In addition, the ONcore series has been recognized as “innovative” by leading third-party sources and Ohio National was listed among the top 10 providers of variable annuity wholesaling, training and marketing support to U.S. banks.
Year-to-date, ONcore sales are 238% ahead of 2006 sales and sales for the month of May set a one-month record with more than $200 million in premium. In a survey of U.S. banks, Ohio National ranked fifth among all variable annuity providers in regards to service-related issues such as wholesaling, training and marketing support. (Based on the 2006 Study of Bank Brokerage and Retail Investment Services by American Brokerage Consultants and SourceMedia).
“As the Baby Boomer generation nears retirement, they must plan for a previously undefined set of risks in their retirement. Ohio National’s new variable annuity riders are the next generation of variable annuities. They emphasize flexibility with an innovative approach to full protection,” says Tom Barefield, Senior Vice President, Institutional Sales. “When added to an ONcore annuity, they can be the foundation of a smart and powerful plan for Boomers during retirement and beyond.”
Leading third-party sources have also recognized the ONcore product. In his nationally-syndicated column, Malcolm Berko wrote “but if you choose variable annuities from Ohio National … it can make good sense to place a variable annuity in a retirement plan for three reasons … the 6% interest guarantee … the 100% principal guarantee and … the annual step-up basis on the value of the subaccounts.” (March 1, 2007, (C) Copley News Group).
Retire Smart writers Humberto and Georgina Cruz said the Guaranteed Minimum Income Benefit by Ohio National was “…one of the most innovative we’ve found” in their nationally-syndicated column. (Retire Smart, February 18, 2007, (C) Tribune Media Services). In addition to being recognized in the April 18, 2007 issue of the Wall Street Journal, Ohio National’s variable annuities and annuity riders have received accolades from annuity Web site www.annuityfyi.com.
Ohio National’s ONcore Value with the GMIB Plus AR rider is annuityfyi.com’s “Featured Variable Annuity” and was selected as the “AnnuityFYI Pick.” ONcore products and riders were also ranked among www.annuityfyi.com’s top companies for Best Withdrawal Benefit Annuities, Best Death Benefit Provisions, Best Bonus Annuities and Living Income Benefits (April 3, 2006).