Nationwide Financial Services Inc. has enhanced its Lifetime Income Rider to offer buyers of its variable annuities a chance at making higher income.
Nationwide, Columbus, Ohio, introduced the rider, known as L.inc, last years to offer a flexible choice of investment options.
The new improvements include a guaranteed roll-up of 7%, up from 5%, meaning the income benefit base is assured to increase by 7% simple interest annually for 10 years or until the first withdrawal, whichever comes first.