Hartford, CT, July 7, 2020 – Nassau Financial Group (“Nassau”) launched Simple Annuity, its inaugural iOS mobile application, to support the sales of its fixed rate annuities. The Simple Annuity app marks a key step in Nassau’s efforts to redesign the sales and consumer experience for annuities, empowering agents with digital tools to support sales and help consumers take charge of their retirement savings strategy in a direct, tech-forward way. The tool offers quick access to rates as high as 2.75%* for a 6-year term.
With the launch of Simple Annuity, Nassau helps consumers move forward with planning for retirement even when it is difficult to get traditional face-to-face investment and retirement advice. With Simple Annuity, consumers can compare and track rates across different savings products from multiple companies and industries, get savings tips, and take online savings courses all from the convenience of their iPhone® device (and has plans to offer a version of its app for AndroidTM devices). These tools are all designed to help consumers find solutions to today’s challenges including record low interest rates, record high market volatility and COVID-19’s disruption to the economy.
Simple Annuity also allows consumers to purchase Nassau’s multi-year guaranteed annuity (MYGA), “Nassau Simple Annuity,” which currently offers a fixed rate over a term of years and at a competitive rate compared to CDs. The process to purchase a Nassau Simple Annuity takes minutes via the Simple Annuity app and requires only tapping through a few questions and taking a picture of a driver’s license. A consumer can choose to apply by themselves or with the support of an independent insurance producer through phone, video or instant chat support.
Nassau offers competitive rates for the Nassau Simple Annuity, its fixed rate, multi-year guaranteed annuity. Rates offered effective June 1: 4-year 2.45% and 6-year 2.75%.* Nassau’s free app is currently available for iPhone® devices and can be downloaded here.
The company also offers video annuity courses and a toll-free number to call for assistance from non-commissioned, licensed representatives at no cost.
About Nassau: Nassau Financial Group, based in Hartford, Conn., currently has combined assets of approximately $24.5 billion and capital of approximately $1.3 billion. Its business covers four segments: insurance, reinsurance, distribution and asset management. For more information, visit www.nsre.com.
Shin-Jung Hong, ShinJung@nicholaslence.com / Cell: 617-413-7880
Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee
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. Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% IRS penalty may also apply. The information supplied here and through the mobile app is not individual tax, financial, or investment advice, and not a recommendation that anyone engage in (or refrain from) a particular course of action. Nassau has a financial interest in the sale of its products.
Nassau Simple Annuity (ICC18FADTCP, 18FADTCP) is a single premium deferred fixed annuity issued by Nassau Life and Annuity Company (Hartford, CT). Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, MN and NY, but that is subject to change. Guarantees are based on the claims-paying ability of Nassau Life and Annuity Company. Nassau Life and Annuity Company is a subsidiary of Nassau Financial Group.
*Rates are subject to change. Product availability, features and options may vary by state. Nassau Simple Annuity is not available in CA, MA, ME, MN, NY or FL.
iPhone is a registered trademark of Apple Inc. IOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license. Android is a trademark of Google Inc.