Nationwide Financial Services Inc. in Columbus, Ohio, said Thursday that it is now offering both standard and enhanced riders on its lineup of variable annuities to New York State residents.
The riders are intended to help investors minimize their downside risk by protecting principal if the market performs poorly while offering the potential to participate in the gains if the market does well.
The enhanced version of Capital Preservation Plus lets investors increase their exposure in the variable options through a choice of asset allocation funds. The allocation to the fund remains constant for the length of the term selected. Asset allocation does not assure a profit and does not guarantee against loss in a declining market, the company said.
Variable annuities with the enhanced rider are available through independent broker-dealers, financial institutions, wire houses, and Nationwide-exclusive agents.
The rider has a daily charge at an annualized rate of 0.5% per year, and the charge is only assessed during the guarantee period.
