Annuities are investment vehicles that are managed and sold through insurance companies. Some of the most well-known and reputable insurers make a nice range of annuities available through their agents and offices around the country, and among the most famous is Nationwide.
The company began as an auto insurance provider for farmers in 1925, and today it is one of the largest insurance and financial companies in the world. In 1997 the company introduced, and made public, Nationwide Financial, which is the segment of their business that makes two types of annuity products available – immediate and deferred. Of course both varieties come as either a fixed or variable account, but with over $160 billion dollars in statutory assets the company has demonstrated itself to be a reliable investment choice under all circumstances.
Nationwide’s variable annuities are structured in an identical manner to all other variable annuities in that the investor’s initial funds are at risk for loss. What makes their annuity vehicles so unique is that they have been designed to meet a wide range of investor needs. From the “Soloist” deferred variable annuity to the “Best of America” immediate annuity, many factors, needs and options are available to fit a number of financial purposes.
How can there be a need for such diverse options? Because annuities are intended to create a reliable stream of income after a certain point in the life of the investor they require either a slow accumulation of large sums or the initial payment of a single large dollar amount. This sum is then invested in a variety of areas and under a variety of guarantees to determine the figure received by the annuitant (owner of the annuity account). By creating many investment scenarios a Nationwide variable annuity holder can take as much or as little risk with their money as they feel comfortable doing. They can decide if they need a large payout at a single point in time or if they will be able to take a monthly or quarterly income throughout the remaining years of their life.
There are many Nationwide variable annuities available and they are designed to meet the widest range of needs possible. With life expectancies extending further and further each year and the costs of medical care increasing as well many people opt to invest in a reliable income source that will help to fill in the gaps throughout their golden years.