Nationwide Financial Services Inc. says retirement plan participants are more interested these days in having a plan investment option that is backed by the Federal Deposit Insurance Corp. (FDIC).
Nationwide Financial, a unit of Nationwide Mutual Insurance Company, Columbus, Ohio, says it has been adding FDIC-insured options to retirement plan offerings in response to changes in participants’ attitudes about retirement savings.
Participants still want to earn a competitive rate of return, but they are more interested in protecting principal, the company says.
In other insurance ideas news:
- Aetna Inc., Hartford (NYSE:AET), will be helping to fill the growing gaps in many employers’ health plans by offering voluntary critical illness insurance and accident plans from a unit of Allstate Corp., Northbrook, Ill. (NYSE:ALL).
Many employers have been increasing plan deductibles and coinsurance and co-payment requirements.