Groundbreaking product solely out there from Ohio National
Indexed whole life insurance gives the soundness and ensures of conventional whole life — however with index-based progress alternatives
New product best for shoppers searching for safety and asset progress via market-based returns with accompanying draw back safety
CINCINNATI, Sept. 06, 2022 (GLOBE NEWSWIRE) — In the life insurance trade, one thing completely new comes alongside solely as soon as in an amazing whereas. Game changers are uncommon, and that is certainly one of them. Ohio National Financial Services, Inc. proudly declares the first and solely indexed whole life insurance product, offering what no different life coverage can: assured safety, stability and index-based progress potential.
Indexed whole life from Ohio National supplies a lifelong demise profit and money accumulation assure, together with mounted premiums no matter modifications in well being. These options have served generations of policyholders within the firm’s conventional whole life merchandise. With new indexed whole life, clients can get related ensures — plus the chance to develop money worth in relation to inventory market indexes such because the S&P 500® and Russell 2000®. Indexed-based allocation choices provide important progress potential, however as a result of funds are usually not invested instantly available in the market, there isn’t any danger of loss due solely to market efficiency.
The money worth might be accessed throughout the insured’s lifetime, usually on a tax-preferred foundation, for nearly any goal, from supplementing retirement earnings to beginning a business.
“Our new indexed whole life product is an important breakthrough for Ohio National and the financial professionals who sell our products,” stated Karl Kreunen, vice chairman of product advertising and marketing. “We’re thrilled to offer them a unique tool to help their clients reach their financial goals.”
“This product is something financial professionals can’t find anywhere else,” added Pat McEvoy, senior vice chairman of life distribution and gross sales. “We’re passionate about helping them develop client relationships and build their businesses with the addition of indexed whole life to their portfolios.”
Ohio National’s debut indexed whole life product, Prestige Indexed 10 Pay, options 10 years of mounted premium funds and is presently out there via impartial monetary professionals in all states besides CA and NY. Product advertising and marketing info for monetary professionals is on the market at iwl4life.com.
Indexed whole life insurance is issued by Ohio National Life Assurance Corporation. Guarantees are primarily based upon the claims-paying capability of the issuer. Policy, coverage options and rider availability fluctuate by state. Issuer not licensed to conduct business in NY. Indexed whole life insurance not out there in CA.
The indexed whole life coverage gives a number of index-linked curiosity choices. Interest is calculated primarily based on the motion of market indexes, topic to relevant caps, spreads and participation charges. The money worth of the coverage should still decline because of the deduction of value of insurance and expense expenses.
Cash worth could also be accessed on a tax-preferred foundation via coverage loans and withdrawals. If coverage loans are taken and the coverage lapses, a taxable occasion might happen. Withdrawals (partial surrenders) and loans from life insurance insurance policies categorized as modified endowment contracts could also be topic to tax on the time the withdrawal or mortgage is taken and, if taken previous to age 59½, a ten% federal tax penalty might apply. Withdrawals and loans scale back the demise profit and money give up worth.
The S&P 500® Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed to be used by Ohio National Life Assurance Corporation. Standard & Poor’s® , S&P® and S&P 500® are registered emblems of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these emblems have been licensed to be used by SPDJI and sublicensed for sure functions by Ohio National Life Assurance Corporation.
Ohio National Life Assurance Corporation‘s Prestige indexed whole life insurance isn’t sponsored, endorsed, bought or promoted by SPDJI, Dow Jones, S&P, their respective associates, and none of such events make any illustration concerning the advisability of investing in such product(s) nor have they got any legal responsibility for any errors, omissions, or interruptions of the S&P 500® Index.
Russell 2000® Index is an fairness index that measures the efficiency of the two,000 smallest corporations within the Russell 3000® Index, which is made up of three,000 of the most important U.S. shares. The Russell 2000® is constructed to offer a complete and unbiased small-cap barometer and is totally reconstituted yearly to make sure bigger shares don’t have an effect on the efficiency and traits of the true small-cap index.
The Russell 2000® is a trademark of Russell Investments and has been licensed to be used by Ohio National Life Assurance Corporation. The product isn’t sponsored, endorsed, bought or promoted by Russell Investments and Russell Investments makes no illustration concerning the advisability of investing within the product.
About Ohio National
Since 1909, Ohio National has been dedicated to serving to people, households and companies shield what issues most. Through our community of economic professionals throughout 49 states (all besides New York), the District of Columbia and Puerto Rico and thru affiliated operations in South America, we offer the insurance merchandise that assist our policyholders obtain monetary safety and independence. As of December 31, 2021, its affiliated corporations have $40.8 billion whole belongings underneath administration. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Recognized as a Leader in Workplace Equity by Ellequate. Please discover ohionational.com for extra info and for the newest firm updates, join with Ohio National on LinkedIn, Facebook and YouTube.
Contact: John Diether
513.794.6073
[email protected]
