Nassau Financial Group launches Nassau Bonus Annuity Plus

Nassau Financial Group introduced Nassau Bonus Annuity Plus. Issued by Nassau Life and Annuity Company, Nassau Bonus Annuity Plus is a single premium accumulation-focused fixed indexed annuity that helps increase retirement savings with an up-front premium bonus as well as total accumulation potential from powerful growth options and enhanced control over contract value.

“The launch of Nassau Bonus Annuity Plus further expands our fixed annuities product suite, as we look to provide new and innovative fixed annuity products to the underserved middle market. With our Nassau Bonus Annuity Plus product, consumers will be able to lock in higher gains up front and increase their growth potential over the long term as yet another option to plan for their retirement.” – Phil Gass, Chairman and CEO of Nassau.

How it works:

Nassau Bonus Annuity Plus includes several enhanced features, including Nassau’s highest premium bonus of up to 18%, a free withdrawal rollover feature, and an early return of premium surrender benefit. These features are made possible by an enhanced benefit fee applied during the surrender charge period, which is 10 contract years in most states.

The enhanced premium bonus of up to 18% creates a larger base to help contract holders grow their retirement savings and increase accumulation potential over the long term.

Contract holders also receive enhanced liquidity features, with the ability to withdraw up to 5% penalty-free annually or roll over the withdrawal option for up to five contract years to receive up to 25%2. Also, with the early return of premium surrender benefit, after the fifth contract year contract holders can receive a cash surrender value of at least their single premium less prior gross withdrawals and enhanced benefit fees.