Hartford, Conn., Jan. 16, 2024 – Nassau Financial Group (“Nassau”) today introduced a new, innovative 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,” said Phil Gass, Chairman and CEO of Nassau. “Our goal in developing this product was to offer much more flexibility that would allow individuals to optimize all their retirement income sources.”

At age 62, consumers face a choice that can impact the rest of their lives: start or delay Social Security. According to the Social Security Administration, individuals who file their claim at age 67 (“full retirement age”) receive 100% of their benefit. Annual Social Security benefits can increase by up to 24% if they wait until age 70 to claim benefits but can be up to 30% lower if benefits begin as early as age 62.¹

By providing options to receive higher income in the early years, Nassau Income Accelerator can help individuals delay their claim on Social Security and other retirement benefits and achieve a higher annual guaranteed income for life.²

How It Works³

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 Benefit^SM 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.

To learn more about Nassau Income Accelerator and other Nassau offerings, visit the company’s website. Producers, financial advisors, and other distributors can contact the Nassau Sales Desk at 888-794-4447.

About Nassau Financial Group

Based in Hartford, Connecticut, Nassau Financial Group is a growth focused and digitally enabled financial services company with three distinct and closely connected businesses: insurance, reinsurance, and asset management. Nassau was founded in 2015 and has $23.3 billion in assets under management, $1.5 billion in total adjusted capital, and about 386,000 policies and contracts. For more information, visit nfg.com.

 ¹For those born in 1960 or later. Source: Social Security Administration, Social Security Benefits: Effect of Early or Delayed Retirement on Retirement Benefits.

²The issuing company, Nassau Life and Annuity Company, Nassau Income Accelerator, and the Flex-Forward Income Benefit rider are NOT connected with, recommended, or endorsed by any governmental program, agency, or entity, including the Social Security Administration.

³The Early Income Feature is only available if the youngest covered person is age 70 or younger. After age 70, only the Lifetime Income Benefit is available. Additional limitations apply. See Rider Disclosure for details. A rider is required to be elected at the time of application. All riders involve an annual fee of 0.95% that is based on a percentage of the income benefit base and is deducted annually from the contract value.

This material is provided by Nassau Life and Annuity Company, which issues the annuity described in this document. This material is intended for general use with the public and is not meant to provide any individualized tax or financial planning advice. We encourage you to consult with a financial professional who can tailor a financial plan to meet your needs. Nassau and its affiliates have a financial interest in the sale of their products.

Product features, rider options and availability may vary by state.

Guarantees are based on the claims-paying ability of Nassau Life and Annuity Company.

Annuities are long-term products particularly suitable for retirement assets. Annuities held within qualified plans do not provide any additional tax benefit. Early withdrawals may be subject to surrender charges and a Market Value Adjustment. Withdrawals (including but not limited to Early Income Amount payments) are subject to ordinary income tax, and if taken prior to age 59½, a 10% IRS penalty may also apply.

Non-Security Status Disclosure – The Contract is not a Security. The Contract is not registered under the Securities Act of 1933 and is being offered and sold in reliance on an exemption therein.

Insurance Products: NOT FDIC or NCUAA Insured. No Bank or Credit Union Guarantee

Nassau Income Accelerator (19FIA, ICC19EIAN, 19ISN, 19GLWB2, 22GLWB, 22GLWB1.1, 23GLWB2.1, ICC22GLWB1.1, ICC23GLWB2.1, et al.) is issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in ME and NY, but that is subject to change. Nassau Life and Annuity Company is a subsidiary of Nassau Financial Group. This press release is not intended for residents of Idaho.

Contacts:
Nicholas & Lence Communications, Maria Cray, maria@nicholaslence.com
Nassau Financial Group, Alice S. Ericson, aericson@nfg.com

BPD 41625