For Producer Use Only. Not for distribution to the public.
This information is intended for producer education purposes only. It is not intended to provide legal, tax, or financial advice to you or your clients. Nassau does not provide individual tax, financial, or investment advice, or act as a fiduciary in the sale or service of our products. Nassau makes no representations and provides no warranties regarding the suitability or accuracy of the information in this presentation. You, your agents, and their clients are encouraged to consult with your own tax and legal advisors with respect to the suitability and accuracy of the information in this presentation as well as the suitability of any Nassau product for your client’s specific needs.
Nassau fixed indexed annuities are NOT securities. The contracts are NOT registered under the Securities Act of 1933 and are being offered and sold in reliance on an exemption therein.
Nassau insurance products are NOT insured by FDIC, NCUSIF, or any other state or federal agency that insures. Lifetime payments and guarantees are based on the claims paying ability of the issuing company.
Product features, riders and availability may vary by state of issue. Annuity product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs, and objectives.
Nassau Growth Annuity (19FIA3, ICC19FIA3, 19GLWB3, 19ECH), Nassau Personal Income Annuity (19FIA,ICC19EIAN, 19ISN, 19GLWB2), Nassau Personal Protection Choice (19FIA, ICC19EIAN,19RN, 19GLWB2,19GMDB-S.1, 19EWB), Nassau Personal Retirement Choice (19FIA, ICC19EIA, 19ISB, 19GLWB2), Nassau Simple Annuity (18FADTCP and ICC18FADTCP) and MYAnnuity (18IFDAP and ICC18IFDAP/ICC18IFDANP) are issued by Nassau Life and Annuity Company (Hartford, CT). In New York, Nassau MYAnnuity 5X (17MGA) is issued by Nassau Life Insurance Company (East Greenbush, NY). 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 MA, ME and NY, but that is subject to change. Medicare Supplement insurance is issued by Nassau Life Insurance Company of Kansas. Nassau Life and Annuity Company, Nassau Life Insurance Company, and Nassau Life Insurance Company of Kansas are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations.
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Nasdaq® and the Nasdaq-100® Index are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Nassau Life and Annuity Company. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
The “S&P 500 Index” is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by Nassau Life and Annuity Company and its affiliates (collectively, “Nassau”). Standard & Poor’s®, S&P 500® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and these trademarks have been licensed and sublicensed for use by SPDJI and Nassau, respectively. Nassau products are not sponsored, endorsed, sold or promoted by SPDJI, S&P, or 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 S&P 500 Index.
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 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.
No Index Party has passed on the legality or suitability of, or the accuracy or adequacy of the descriptions and disclosures relating to, the Fixed Indexed Annuity, including those disclosures with respect to the Index. The Index Parties make no representation whatsoever, whether express or implied, as to the advisability of purchasing, selling or holding any product linked to the Index, including the Fixed Indexed Annuity, or the ability of the Index to meet its stated objectives, including meeting its target volatility. The Index Parties have no obligation to, and will not, take the needs of NLA or any annuitant into consideration in determining, composing or calculating the Index. 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.
THE INDEX PARTIES MAKE NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER EXPRESS OR IMPLIED, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES (INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE), WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN OR RELATING THERETO, AND IN PARTICULAR DISCLAIM ANY GUARANTEE OR WARRANTY EITHER AS TO THE QUALITY, ACCURACY, TIMELINESS AND/OR COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN, THE RESULTS OBTAINED FROM THE USE OF THE INDEX AND/OR THE CALCULATION OR COMPOSITION OF THE INDEX, OR CALCULATIONS MADE WITH RESPECT TO ANY FIXED INDEXED ANNUITY AT ANY PARTICULAR TIME ON ANY PARTICULAR DATE OR OTHERWISE. THE INDEX PARTIES SHALL NOT BE LIABLE (WHETHER IN NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY ERROR OR OMISSION IN THE INDEX OR IN THE CALCULATION OF THE INDEX, AND THE INDEX PARTIES ARE UNDER NO OBLIGATION TO ADVISE ANY PERSON OF ANY ERROR THEREIN, OR FOR ANY INTERRUPTION IN THE CALCULATION OF THE INDEX. NO INDEX PARTY SHALL HAVE ANY LIABILITY TO ANY PARTY FOR ANY ACT OR FAILURE TO ACT BY THE INDEX PARTIES IN CONNECTION WITH THE DETERMINATION, ADJUSTMENT OR MAINTENANCE OF THE INDEX. WITHOUT LIMITING THE FOREGOING, IN NO EVENT SHALL AN INDEX PARTY HAVE ANY LIABILITY FOR ANY DIRECT DAMAGES, LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
No Index Party is a fiduciary or agent of any purchaser, seller or holder of a Fixed Indexed Annuity. None of SG, S&P or any third party licensor shall have any liability with respect to the Fixed Indexed Annuity in which an interest crediting option is based is on the Index, nor 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.
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.