About Nassau Financial Group
Nassau’s mission is to build a franchise across the insurance value chain. Based in Hartford, CT, Nassau currently has combined assets of approximately $22.6 billion and capital of approximately $1.3 billion. Our business covers four segments: insurance, reinsurance, distribution and asset management through various affiliates. Nassau was founded in 2015 with capital provided by Golden Gate Capital, a private investment firm with over $15 billion of committed capital. For more information, visit www.nsre.com.
This news release provides a summary of product features and rider options, which may vary by state. Actual product details, including all terms and conditions that apply, are contained in each contract.
Lifetime payments and guarantees are based on the claims paying ability of Nassau Life and Annuity Company. Nassau Personal Income Annuity (ICC19EIAN, 19FIA and 19ISN), Nassau Personal Retirement Choice (19FIA, ICC19EIAN, 19ISB), Nassau Personal Protection Choice (19FIA, ICC19EIAN and 19RN), Nassau MYAnnuity 5X/7X (ICC18IFDAP, ICC18IFDANP), Nassau Safe Harbor Term and Nassau Safe Harbor Term Express (ICC18NPTL, 18NPTL), and Nassau Remembrance Life (ICC18FEWL or 18FEWL) whole life insurance are issued by Nassau Life and Annuity Company (Hartford, CT). Nassau Growth Annuity (19FIA3, ICC19FIA3, 19GLWB3, ICC19GLWB3) is also issued by Nassau Life and Annuity Company and is currently available in most states. Please check with your financial professional for state-specific availability. Nassau Life and Annuity Company is not authorized to conduct business in CA, GA, MA, ME, MN and NY, but that is subject to change. This information is not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be construed as investment advice.
A.M. Best ratings apply to all Nassau insurance subsidiaries: Nassau Life Insurance Company, PHL Variable Insurance Company, Nassau Life and Annuity Company, Nassau Life Insurance Company of Texas and Nassau Life Insurance Company of Kansas. Fitch ratings apply to Nassau Financial Group, Nassau Life and Annuity Company, Nassau Life Insurance Company and Nassau Re (Cayman). A.M. Best rating was assigned on May 1, 2019 and Fitch rating was assigned on August 15, 2019. Ratings are a third-party measure of an insurer’s claims-paying ability. They do not indicate or guarantee any variable annuity or variable universal portfolio’s credit rating or performance.
S&P® and S&P 500® are registered trademarks licensed for use by S&P Dow Jones Indices LLC (“SPDJI”) and sublicensed for certain purposes by Nassau. The products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the represented index(s).
The Smart Passage SG Index (the “Index”) is the exclusive property of SG Americas Securities, LLC (SG Americas Securities, LLC, together with its affiliates, “SG”). SG has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) (“S&P”) to maintain and calculate the Index. “SG Americas Securities, LLC”, “SGAS”, “Société Générale”, “SG”, “Société Générale Indices”, “SGI”, and “Smart Passage SG Index” (collectively, the “SG Marks”) are trademarks or service marks of SG. SG has licensed use of the Index and the SG Marks to Nassau Life and Annuity Company (“NLA”) for use in a fixed indexed annuity offered by NLA (the “Fixed Indexed Annuity”). SG’s sole contractual relationship with NLA is to license the Index and the SG Marks to NLA.
None of SG, S&P or other third party licensor (collectively, the “Index Parties”) to SG is acting, or has been authorized to act, as an agent of NLA or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any Fixed Indexed Annuity or provided investment advice to NLA, and no Index Party makes any representation whatsoever as to the advisability of purchasing, selling or holding any product linked to the Index, including the Fixed Indexed Annuity. No Index Party shall have any liability with respect to the Fixed Indexed Annuity in which an interest crediting option is based on the Index, and is not liable for any loss relating to the Fixed Indexed Annuity, whether arising directly or indirectly from the use of the Index, its methodology, any SG Mark or otherwise. Obligations to make payments under the Fixed Indexed Annuities are solely the obligation of NLA. The selection of the Index as a crediting option under a Fixed Indexed Annuity does not obligate NLA or SG to invest annuity payments in the components of the Index.
In calculating the performance of the Index, SG deducts a maintenance fee of 0.50% per annum on the level of the Index, and fixed transaction and replication costs, each calculated and deducted on a daily basis. Because the Index can experience potential leverage up to 350%, the maintenance fee may be as high as 1.75% per year. The transaction and replication costs cover, among other things, rebalancing and replication costs. The total amount of transaction and replication costs is not predictable and will depend on a number of factors, including the performance of the index underlying the Index, and market conditions, among other factors. These fees and costs will reduce the potential positive change in the Index and increase the potential negative change in the Index.
While the volatility control applied by the Index may result in less fluctuation in rates of return as compared to indices without volatility controls, it may also reduce the overall rate of return as compared to products not subject to volatility controls.
Nassau Life and Annuity Company is a subsidiary of Nassau.
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Alice S. Ericson
email@example.com or 860-403-5946