Nassau Financial Group launches new annuity product

Nassau Financial Group introduced a fixed indexed annuity (“FIA”) to its product portfolio, Nassau Income Accelerator. Nassau’s latest offering is a single premium fixed indexed annuity with flexible guaranteed lifetime income options that help retirees delay, and therefore increase, their Social Security and other retirement benefits.

“For retirees faced with the tough decision of when to start their Social Security payments, Nassau makes it easier with our latest innovative annuity product, Nassau Income Accelerator. Our goal in developing this product was to offer much more flexibility that would allow individuals to optimize all their retirement income sources.” – Phil Gass, Chairman and CEO of Nassau.

Here’s how it works:

Issued by Nassau Life and Annuity Company, Nassau Income Accelerator can be customized to fit an individual’s retirement income plan, offering guaranteed lifetime income distributed according to personalized time horizons. Consumers have the flexibility to develop their own schedule that can help optimize all their guaranteed income sources, including Social Security and pensions.

The Flex-Forward Income BenefitSM rider offers flexibility to choose higher income payments early on in exchange for lower income payments later. Consumers can elect the rider when the contract is issued and decide later what date to start income and whether they want level income for life or higher income for up to eight years. If they choose higher income in early years, they also choose how much higher.