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Fidelity Investments® Introduces New Annuity: IncomeSource® Series from Western & Southern Financial Group

First Western & Southern Product Added to the Fidelity Insurance Network®; Single Premium Immediate Annuity Provides Investors Steady Income Stream from Highly Ranked Industry Leader


BOSTON – WEBWIRE

Fidelity Investments® announced the addition of IncomeSource®, a Single Premium Immediate Annuity underwritten by two Western & Southern Financial Group (“Western & Southern”) member companies, to the Fidelity Insurance Network®. The first Western & Southern annuity to be offered in Fidelity’s product line-up, it enables individuals to convert a lump sum into guaranteed1 income for as long as they choose -- either for life or for a specific period of time.

“IncomeSource is a strong addition to Fidelity’s lifetime income offerings,” said Bill Johnson, president of Fidelity Investments Life Insurance. “Annuities can be an important component of a diversified portfolio and can help people create income designed to last throughout retirement. Through this addition, we are providing another excellent option that will help our clients live comfortably in retirement, while also initiating a new business relationship with an annuity provider noted for stability and strength.”

IncomeSource, which is issued by Western-Southern Life Assurance Company or National Integrity Life Insurance Company2, offers the following advantages:

  • Increasing Payout Option3 helps protect purchasing power: To help ensure the income stream addresses inflation through the years, this option provides increased annual payouts over the length of the income stream by a compounded interest rate ranging from one to five percent.
  • Personalization: IncomeSource offers the ability to choose payout options to meet specific needs. Beneficiary protection can ensure a loved one continues to receive specified payouts in the event of one’s passing. Commutation rights can provide emergency liquidity. 4
  • Stability: Individuals enjoy the confidence of a guaranteed cash flow regardless of market fluctuations and downturns. In addition, Western & Southern regards itself as “one of the strongest life insurance groups in the industry,” as evidenced by its strong industry ratingsOpens in a new window for financial strength and stability.

“Income guarantees help individuals attain the financial freedom to relax and enjoy their retirement,” said Mark Caner, President of W&S Financial Group Distributors, Inc. “Similar philosophies, cultures and core values, combined with an extremely high mutual regard for clients, make this a powerful alliance for our respective companies.”

Although this is the first Western & Southern annuity to be offered by Fidelity, the Fidelity Insurance Network® also makes available a broad variety of annuity products designed to help people increase savings, protect savings, or guarantee1 income for life. Fidelity has offered annuity products since 1987 that are easy-to-understand, high value and priced transparently and affordable. The product offering includes deferred variable annuities, immediate fixed income annuities, fixed deferred annuities with guaranteed life withdrawal benefits and deferred income annuities.

To learn more about annuities and how they can fit into your overall financial plan, visit www.fidelity.com/annuities/overview or speak with a Fidelity annuity specialist directly at 800-345-1388.

About Fidelity Investments

Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $6.4 trillion, including managed assets of $2.3 trillion as of August 31, 2017, we focus on meeting the unique needs of a diverse set of customers: helping more than 26 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.

About Western & Southern

Founded in Cincinnati in 1888 as The Western and Southern Life Insurance Company, Western & Southern Financial Group, Inc. (Western & Southern), a Fortune 500 company, is now the parent company of a group of diversified financial services businesses. Its assets owned ($46.5 billion) and managed ($22 billion) total $68.5 billion as of June 30, 2017. Western & Southern is one of the strongest life insurance groups in the world. Its six life insurance subsidiaries (The Western and Southern Life Insurance Company, Western- Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, The Lafayette Life Insurance Company and National Integrity Life Insurance Company) maintain very strong financial ratings and a Comdex Ranking of 96.5 Other member companies include Eagle Realty Group, LLC; Fort Washington Investment Advisors, Inc.6; IFS Financial Services, Inc.; Peppertree Partners LLC6; Touchstone Advisors, Inc.6; Touchstone Securities, Inc.7; W&S Brokerage Services, Inc.7; and W&S Financial Group Distributors, Inc. For more information on the Western & Southern family of companies, visit WesternSouthern.comOpens in a new window. Western & Southern is the title sponsor of the Western & Southern Open (WSOpen.comOpens in a new window), a premier event in the U.S. Open Series played each August by the world’s top-ranked professional male and female tennis players.


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