Nationwide is the latest company to join the ranks of an ongoing industry push to convince "reluctant" advisors that their concerns with variable annuities have been addressed.
The Columbus, Ohio-based financial giant introduced Nationwide Destination Architect 2.0, a low-cost, advisory-based variable annuity, on Tuesday.
The company also introduced Nationwide Lifetime Income Track, an optional guaranteed lifetime withdrawal benefit rider available for an additional cost with Nationwide Destination Architect for clients who want guaranteed lifetime withdrawals in retirement.
"This product will appeal primarily to fee-based advisors who may have been reluctant to sell VAs in the past based on cost," Eric Henderson, senior vice president of life insurance and annuities for Nationwide, said in a statement.
