Nationwide Financial is giving advisors some diversification options for their clients’ retirement income needs with three actively managed subaccounts within the America’s marketFLEX Variable Annuity Series.
The three new subaccounts include:
- Lazard NVIT Flexible Opportunistic Strategies Fund – a forward-looking, actively managed portfolio completion strategy that invests in nontraditional assets to provide long-term capital appreciation and returns;
- NVIT Flexible Moderate Growth Fund– a total portfolio solution for long-term growth through a broad and flexible allocation in stocks, bonds and other asset classes; and
- NVIT Flexible Fixed Income Fund – a total portfolio solution, built primarily to provide income but gives the manager the ability to actively pursue income by dynamically adjusting the asset allocation.
The new investments are immediately available to all current and new America’s marketFLEX Variable Annuity policyholders.
See also: 7 retirement planning risks you may not have considered
In other news:
The Penn Mutual Life Insurance Company launched its Inflation Protector Withdrawal Benefit, available with the Smart Foundation Variable Annuities.
Highlights of the Inflation Protector Withdrawal Benefit include:
- Guaranteed retirement income that will grow by at least the rate of inflation, up to 6 percent (4 percent in New York) and will never be less than zero;
- The freedom to choose from any of Penn Mutual’s 29 investment options during the accumulation phase and 14 investment options in the withdrawal phase;
- A choice of withdrawal options, allowing clients to take income based on individual needs;
- The opportunity for annual step-ups that can help increase long-term income potential; and
- Available to add with Smart Foundation, Smart Foundation Flex and Smart Foundation Plus variable annuities.
See also: 3 annuity industry innovations you should know about
MetLife, Inc. (NYSE: MET) named Eric Butler as vice president and head of the Global Healthcare practice for its global employee benefits business.
In this position, Butler is responsible for leading MetLife’s global healthcare practice, including medical and wellness products and programs. As part of the Global Employee Benefits business unit, Butler will work with regional and country teams to advance MetLife’s data collection and analysis capabilities and deploy best practices across the company’s 20 healthcare businesses outside of the U.S.
Butler most recently served as global director of Health Insurance for Generali Employee Benefits, based in Brussels, Belgium, where he led the healthcare business unit and was responsible for developing innovative comparative and population-based health data reporting for multinational clients. He also served as the company’s spokesperson on global healthcare by both writing and speaking at international conferences, presenting capabilities and market insights.
Butler brings more than 25 years of experience in private medical insurance, including 19 years focused exclusively in the international sector, working in numerous countries spanning five continents. In addition to holding senior employee benefits roles at Generali, he spent much of the early part of his career at United Healthcare.
Gregg Secor joined The Phoenix Companies, Inc. (NYSE:PNX) as assistant vice president and chief underwriter. Secor reports to Scott Schuetz, vice president, Growth Delivery and Operations, and will be responsible for all facets of underwriting, mortality, risk selection, and underwriting philosophy.
Secor was previously president and CEO of APEX Underwriting Solutions, an independent contracting firm providing outsourced underwriting solutions to independent producers and general agencies. He was an underwriter for Phoenix earlier in his career.
Secor has a bachelor’s degree in economics and psychology from Drew University and is a member of the Association of Home Office Underwriters.
See also: The new LTCI underwriting standards
Burnham Benefits Insurance Services Inc. has outgrown its current Los Angeles office space and is upgrading to a larger location at 724 S. Spring Street, Suite 1104, Los Angeles, Calif. 90015.
Burnham Benefits plans to hire as many as 10 additional employees for the new, larger LA location throughout 2014.