Nationwide | Increased payout rates for all ages on the Bonus Income+ Rider

Nationwide | Increased payout rates for all ages on the Bonus Income+ Rider

Nationwide | Increased payout rates for all ages on the Bonus Income+ Rider
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Guaranteed Lifetime retirement income just got even better

Now available: Increased payout rates on the Bonus Income+ Rider.

Combining the Nationwide Peak® 10 fixed indexed annuity with the Bonus Income+ Rider (for an additional cost) means you can now provide clients even more guaranteed income for retirement they can’t outlive, as well as:

  • An opportunity to outpace inflation
  • Protection against market risk

Take a look at this hypothetical example

Maria, who is 65 years old, purchases a $250,000 Nationwide Peak 10 fixed indexed annuity contract with the Bonus Income+ Rider. Let’s see how much more annual income she could receive based on our increased payout rates, depending on when lifetime income withdrawals begin.

At 70 years old with an income benefit base of $420,000

New single-life payout:

6.2%

Previous: 5.4%

New lifetime withdrawal amount:

$26,040

Previous: $22,680

Payout amount increased by

14.81% or $3,360

At 75 years old with an income benefit base of $540,000

New single-life payout:

6.75%

Previous: 5.95%
New lifetime withdrawal amount:

$36,450

Previous: $32,130
Payout amount increased by

13.45% or $4,320

The lifetime income scenarios depicted are a hypothetical model intended to demonstrate the differences in payouts over time. Payout percentages will vary for single-life versus joint contracts. The income scenarios above are purely hypothetical and shouldn’t be considered a representation of what you may receive. The hypothetical income values were calculated assuming growth of the income benefit base at the higher of the 8% simple interest roll-up rate on the initial purchase payment (with 20% bonus credit) for the first 10 years multiplied by the appropriate lifetime payout percentage, which changes depending on the age at which lifetime income payments begin. This example does not include a lock-in of the index(es), minimum income benefit value, rider charges, withdrawals, or excess withdrawals.

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

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support@pfsinsurance.com

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Global Atlantic | Product Update Effective June 12, 2023

Global Atlantic | Product Update Effective June 12, 2023

Global Atlantic | Product Update Effective June 12, 2023
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Effective June 12, 2023, we are making enhancements to our Fixed Index Annuity and Registered Index-Linked products. Global Atlantic is committed to offering you products with compelling benefits at reasonable costs, and we routinely review all products, features, and associated fees and charges. Please note that this enhancement is for new business only, as in-force contracts are not impacted.

ForeIncome II
Fixed Index Annuity
Income 150 + SE
Fixed Index Annuity
ForeAccumulation II
Fixed Index Annuity
ForeStructured Growth
Registered Index-Linked Annuity
Increased lifetime withdrawal income factors  Increased lifetime withdrawal income factors

Changes to the five- and seven-year withdrawal schedule:
Five Year: 8%, 8%, 7%, 6%, 5%, 0%
Seven Year: 8%, 8%, 7%, 6%, 5%, 4%, 3%, 0%

Changes to the 10-year withdrawal schedule:

Ten Year: 9%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0%

Changes to the five- and seven-year withdrawal charge schedule:
Five Year:8%, 8%, 7%, 6%, 5%, 0%
Seven Year: 8%, 8%, 7%, 6%, 5%, 4%, 3%, 0%

Terminal Illness Waiver and Nursing Home Waiver available in California

Terminal Illness Waiver, Nursing Home Waiver and Income Enhancement Benefit available in California

Terminal Illness Waiver and Nursing Home Waiver available in California

Terminal Illness Waiver and Nursing Home Waiver available in California

Please note that not all products, features and materials are available at all firms or in all states.

NAIC Training
An updated version of the NAIC training will be available on June 12, 2023. Financial professionals who have previously completed NAIC for ForeIncome, ForeAccumulation, Income 150+SE and ForeStructured Growth will not be required to retake the training. The NAIC codes will remain the same.

Marketing materials will be updated and available on June 12, 2023.

New Business

  • All applications issued before June 12, 2023, will receive old product features.
  • Applications issued on or after June 12, 2023, will receive new product features.
  • An updated disclosure document will be available on June 12, 2023. The old disclosure form will not be accepted for new business received on or after July 17, 2023.1
For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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Nationwide | Increased payout rates for all ages on the Bonus Income+ Rider

Nationwide | Timely Insights from Nationwide

Nationwide | Timely Insights from Nationwide
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Offer clients growth and protection for the future

To learn more about recent enhancements to Nationwide Peak® 10 fixed indexed annuities, and how they can help clients grow and protect their retirement savings, visit our site.

View Rate Sheet

For agents who are contracted to sell in AK, CT, IA, MN, MS, MO, NH, NJ, NV, OH, OK, PA, RI, SC, TX, UT, WA, and WY.

View Rate Sheet

For agents who are contracted to sell in AL, AZ, AR, CO, DC, FL, GA, IL, IN, KS, KY, LA, MA, MD, ME, MI, MT, NE, ND, NM, SD, TN, VT, WV, and WI.

Check out this Month’s Timely Insights and Resources

Nationwide Thought Leadership

Help clients navigate inflation concerns

Read how FIAs can provide clients with needed protection and growth potential.

Doing Business with Nationwide

Coming soon: Pending annuity business text/ email updates

An opt-in service for real-time status updates via text and email on pending annuity business will be available soon.

Nationwide Economics Team

May 2023: Cycle Watch

Review Nationwide’s latest insights about the factors driving economic and financial market performance.

 

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The Advisor Advocate® Blog

Inflation Update

In this podcast, learn how consumers could drive the economy in 2023.

Access your Dedicated Resources

Visit our Thought Leadership Library to:

  • Watch and download previous webinar presentations
  • Download related educational materials
  • Register for upcoming webinars
For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

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1 (800) 772-6881
support@pfsinsurance.com

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Global Atlantic | Product Update Effective June 12, 2023

Global Atlantic | Important 2023 Compliance Reminders

Global Atlantic | Important 2023 Compliance Reminders
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Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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Wellcare | Important Updates and Reminders

Wellcare | Important Updates and Reminders

Wellcare | Important Updates and Reminders
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Important Updates and Reminders for WellCare Agents

Welcome to our newly redesigned broker news bulletin, Wellcare Insider.

Wellcare Insider will arrive in your inbox every two weeks – and more frequently when needed – to provide important updates and reminders focused on growing your business and sustaining your success.

Today’s edition has information on the following topics:

  • Medicaid Redetermination – Guiding members through the process
  • Amazon Pharmacy – Informing members of their pharmacy options
  • Text Notifications – Ensuring you are receiving our text alerts

Medicaid Redetermination Resources

As a reminder, Wellcare members set to be disenrolled from their Medicaid plans will need your help to obtain new coverage and maintain continuity of coverage, as the redetermination process has resumed after three years of being paused due to the COVID pandemic. Nearly every state has begun contacting members or will begin soon, to initiate this redetermination process. Up to 15 million individuals are at risk of losing their Medicaid coverage.

What you can do to help

Review our comprehensive Redetermination Resource Page to help you in guiding members through this process. You’ll find timelines, state-specific guidelines, and broker/agent training resources all conveniently organized in one location.

Amazon Pharmacy Reminder

Our members trust us for coverage that goes beyond basic Medicare. Part D coverage, available on many of our MAPD and PDP plans, allows members to get their covered drugs through one of our network pharmacies. When they use a preferred retail pharmacy, beneficiaries can save even more on prescriptions.

In 2023, Amazon joined CVS, Walgreens, and most large grocers in our preferred retail network. A supplemental Pharmacy flyer is being mailed to our members by many of our health plans with insight into this exciting new Pharmacy option. While not every member will receive this flyer, please review the Part D Amazon Member Mailer for assistance in addressing any member questions you may receive.

For more information, refer to the Preferred Pharmacy Network One-Pager and other tools on the AEP Resources Landing Page.

Wellcare Agent Texts

Wellcare utilizes text messaging as one mode of communicating Requests For Information (RFI) and other notifications important to your business. Recently a change to the phone number from which these texts are sent has occurred. Take steps now to ensure that you are able to receive these important communications.

  • Add both of the new phone numbers to your trusted contacts to ensure texts are not marked as SPAM: (314) 926-9826 and (813) 497-4540
  • Check that your cell phone number on file with Wellcare is correct by logging into the Single Sign-On Portal and verifying or updating your profile information
For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

Contact Us

Contact a Pinnacle Financial Service representative today for assistance.

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