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Ohio National Financial Services has introduced a new ONdex annuity contract.
The product is a single-premium indexed annuity that's filed as a non-variable product.
(Related: Ohio National Adds Whole Life Product)
Like other non-variable indexed annuities, the product gives holders the ability to tie the crediting rate to the performance of an investment market index while getting protection from the issuer against market losses.
The product comes with a built-in guaranteed accumulation protection benefit. The benefit guarantees a minimum amount of account value growth.
Purchasers can choose from a menu of four index-based allocation options and a fixed accumulation account.
Purchasers can also choose between a surrender period of seven years or 10 years.
Ohio National writes annuities through the Ohio National Life Insurance Company.
— Read Another Reason Pandemics Are the Retiree's Enemy, on ThinkAdvisor.
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