The Easy Trust. How to Ensure a Lasting Legacy – Now and Later

Regardless of your net worth or the number of assets you’ve built up over the years, it’s likely that at some point, you’ve been approached about estate or legacy planning. Some attorneys will even go so far as to use scare tactics, citing that your loved ones might have to sell the family home – or even that they’ll become destitute – if proper estate planning isn’t put in place.

Oh, and as a side note, that planning usually comes with a hefty fee.

This alone is enough to frighten people into blindly following their advisor’s every last suggestion…or alternatively into running the other way as fast as possible, and in turn, doing absolutely nothing (but “saving” money in the process).

But the truth is, estate and legacy planning don’t have to be difficult, expensive, or exceptionally time-consuming. Nor does it have to be based on fear.

It just has to be right.

Although most people don’t like to dwell on it, the best way to protect your assets and your loved ones upon your passing is by having a good, solid plan in place – and trusts are typically a major piece of the estate planning pie.

Here again, though, having a trust in place may not be the answer for everyone. In fact, today, there are certain types of annuity products that can essentially act as the catalyst for ensuring that money is doled out the way you intend it to be, without necessarily having to include Uncle Sam as a primary recipient.

How to Protect Your Legacy on Your Terms

Recently, Nationwide Insurance Company introduced the High Point Enhanced Death Benefit rider to their New Heights Fixed Indexed Annuity product. Many people have already turned to the Nationwide New Heights fixed indexed annuity product as a part of their long-term retirement planning because this annuity provides:

  • Unlimited growth potential
  • Tax-deferred growth
  • Principal protection in any market environment

Plus, the New Heights annuity also offers a return of purchase payment guarantee, which can help to protect retirement savings.

Now, with the High Point Enhanced Death Benefit rider, those that you love and care about can also be assured of a financial cushion when you’re no longer here. That’s because the beneficiary (or multiple beneficiaries) that you name in the New Heights annuity contract can choose to take a lump sum payment, or alternatively an income stream, that can be used for any reason.

How the High Point Enhanced Death Benefit Works

Unlike a set, static death benefit on many life insurance and annuity contracts, the High Point Enhanced Death Benefit that is offered with the Nationwide New Heights fixed indexed annuity provides the opportunity for growth potential or a guaranteed increase in value. This means that you may be able to increase the amount that you leave to your loved ones.

This death benefit automatically offers an amount that is either the greater of the base contract death benefit or the value of the high point enhanced death benefit value. The high point enhanced death benefit amount is determined as being the greater of the minimum enhanced death benefit value, or the highest Balanced Allocation Value, or BAV.

The Easy Trust. How to Ensure a Lasting Legacy – Now and Later

A Few Considerations Before You Move Forward

While the New Heights High Point Enhanced Death Benefit can provide a long list of benefits, there are some considerations that you need to keep in mind before you move forward. First, this rider must be chosen at the time of contract issue. And, at that time, you (and your spouse, if the joint option is elected) must also be age 75 or under.

In addition, there is an annual charge for the High Point Enhanced Death Benefit rider. This is 0.05%, which is calculated on the high point enhanced death benefit value, and that is assessed on a quarterly basis. This fee could, in turn, reduce the overall amount of the annuity’s contract value.

For all of the in-depth details about the Nationwide High Point Enhanced Death Benefit rider, you can check out the brochure HERE.

Taking the Easy Next Steps Toward Protecting Those You Love

As with most any financial decision, you need to be sure that you have a good understanding of how the product works, and how it can work for you and those you care about. The best way to do that is to discuss your options with a specialist.

At Annuity Gator, our primary mission is helping you to find the right annuity. This means that we’ve done the research for you so that you don’t have to wade through all of the jargon on your own.

If you’ve got questions about whether or not the Nationwide New Heights annuity and the High Point Enhanced Death Benefit may be right for you, give us a call. We can be reached directly, toll-free, at (888) 440-2468. Or, you can email us via our secure online contact form here to set up a time to chat.

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