Nationwide Financial introduced a new product to help advisors with clients who want an income guarantee with the flexibility to adjust for unexpected financial needs that may arise: INCOME Promise Select, which the company touts as an upgrade to its INCOME Promise fixed immediate annuity product.

According to Nationwide, INCOME Promise Select features lump-sum cash refunds for beneficiaries of clients who do not outlive their principal investment; liquidity options that allow clients to make lump-sum withdrawals in the event of an emergency or need for extra cash; and highly competitive payout rates. Other features are a cost-of-living adjustment (COLA) option and a quote and illustration tool to help advisors demonstrate the benefits and features.

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