José Marques, APR
Media Relations Manager
Western & Southern Financial Group
Mail Station 90
400 Broadway Street
Cincinnati, OH 45202
FOR IMMEDIATE RELEASE:
Sheila Veits Roth
Media Relations Specialist (513) 629-1388
W&S Financial Group Distributors Helps Financial Professionals Target Retirement Plan Rollovers‘Rollover Central’ Expands Commitment to Addressing $365 Billion Opportunity
CINCINNATI April 25, 2012 W&S Financial Group Distributors (W&S Financial Distributors), wholesale distributor of annuities and life insurance from Western & Southern Financial Group (Western & Southern) member companies, has launched “Rollover Central.” The multi-stage, multi-platform initiative aims to help financial professionals build their business by serving the needs of the $365 billion retirement plan rollover market.¹
“Workers are changing employers and careers as never before. In fact, a 2010 survey from the Bureau of Labor Statistics found the youngest baby boomers – those born from 1957 to 1964 – have held nearly 11 jobs on average,” said Mark E. Caner, AEP, ChFC, CLU, CFP®, president of W&S Financial Distributors. “These job changes mean that workers may own a variety of retirement plans from former employers. W&S Financial Group Distributors is leveraging its expertise with retirement plan rollovers to help financial representatives target the rollover business to better serve these clients.”
Elements of the “Rollover Central” initiative include:
- Sponsorship of the InvestmentNews Retirement Income Summit in Chicago April 30 to May 1, 2012. The summit for financial professionals examines new ways to generate, increase and protect retirement income. W&S Financial Distributors will exhibit at the event and share information it has developed regarding strategies for retirement plan rollovers.
- Sponsorship of InvestmentNews webcast “Tax-Wise Ways to Draw Down IRAs and 401(k)s” on May 15, 2012. The webcast for financial professionals will examine rollover considerations, retirement distribution planning, tax diversification, tax incentives for different assets types and matching assets to account types. Presenting will be Robert Keebler, principal of Keebler & Associates, LLC.
- Enhanced Retirement Rollover Content Online at new ‘Rollover Central’ section of WSFinancialPartners.com. Both financial professionals and consumers will find valuable information regarding retirement plan rollovers on the site. For consumers, information includes strategies and considerations for plan consolidations. For financial professionals, “Rollover Central” includes information about a product designed specifically for rollover monies. VAROOM (Variable Annuity for Roll Over Only Money), issued by Western & Southern member companies Integrity Life Insurance Company (Cincinnati, Ohio) and National Integrity Life Insurance Company (Goshen, N.Y.), is the only variable annuity offering subaccounts investing in individual ETFs.
- Conversation Starter Presentations and Collateral. A compilation of materials designed to aid financial professionals in discussing retirement plan rollover considerations with clients and identifying business prospecting opportunities among job changers.
“From the launch of VAROOM in January 2011, to the introduction of resources for job changer rollover prospecting in August 2011, to the commencement of the Rollover Central initiative and all it encompasses, Western & Southern continues to demonstrate its ongoing commitment to helping financial professionals build their business by targeting the rollover market,” said Caner.
1 Spectrem Group, “High Balance Rollover 2010,” September 16, 2010.
Important information. Please read.
VAROOM is a flexible premium variable annuity available to age 80 for a minimum contribution of $25,000 and a maximum contribution of $1 million. An annual contract charge of 1.90% applies to subaccount assets. The Guaranteed Lifetime Withdrawal Benefit is available at issue for an additional charge for ages 45-80. The annual charge – 0.65% for the basic allocation strategy and 0.85% for the self-style allocation strategy – applies daily to subaccount assets and can increase to a maximum of 1.50%. A premium-based withdrawal charge applies to amounts withdrawn in excess of the free withdrawal provision for the first five years after each premium is received. The charge is 7% for premium years one and two, then declines by 1% a year, to 4% in premium year five and 0% thereafter.
A variable annuity is a long-term financial vehicle designed for retirement purposes. An insurance company accepts premiums and provides future income or a lump sum to the contract owner by contractual agreement. Contract limitations, fees and charges include, but are not limited to, mortality and risk expense charges, administrative fees, surrender charges, additional fees for optional benefits and underlying fund expenses. Withdrawals also may be subject to charges, and may reduce annuity contract benefits and values. Refer to the product and fund prospectuses for full details.
VAROOM is issued and guaranteed by Integrity Life Insurance Company, Cincinnati, OH, and National Integrity Life Insurance Company, Goshen, NY, and is distributed by Touchstone Securities, Inc.* Payment of benefits under the annuity contract is the obligation of, and is guaranteed by, the insurance company issuing the annuity. Guarantees are based on the claims-paying ability of the insurer. There is no guarantee of the investment performance or safety of the variable investment options in this variable annuity. Integrity operates in all states except ME, NH, NY and VT where National Integrity operates. Variable annuities are suitable for long-term investing. Earnings and pre-tax payments are subject to income tax at withdrawal. Withdrawals prior to age 59½ are generally subject to a 10% IRS penalty tax. Interest rates are declared by the insurance company at annual effective rates, taking into account daily compounding of interest. Product approval, availability and features may vary by state. See your financial professional for details and limitations. Contract series ICC10 INT-15 1011, INT-15 1011, ICC10 NIL-15 1011 and NIL-15 1011 NY and rider series ICC10 IR.32 1011, IR.32 1011, ICC10 IR.33 1011, IR.33 1011, ICC10 IR.34 1011, IR.34 1011, ICC10 NR.32 1011, NR.32 1011 NY, ICC10 NR.33 1011, NR.33 1011 NY, ICC10 NR.34 1011 and NR.34 1011 NY. Issued as a single premium deferred annuity in OR, contract series INT-15 1011 OR and rider series IR.32 1011 OR and IR.33 1011 OR.
Tax advantages of VAROOM exist solely through its qualification as an IRA. VAROOM is subject to all laws governing IRAs, including but not limited to age and contribution limits, early and late IRS withdrawal penalties and RMDs. Integrity and National Integrity do not offer tax advice. For specific tax information, consult your attorney or tax advisor. ETFs similar to those offered as subaccounts in VAROOM are available for direct purchase outside an annuity, without the additional fees and benefits associated with an annuity. Investment return and principal value of an investment in a variable annuity will fluctuate, so units, when redeemed, may be worth more or less than their original cost.
iShares® is a registered trademark of BlackRock Institutional Trust Company, N.A. (BlackRock). Vanguard is a trademark of The Vanguard Group, Inc.
* A registered broker-dealer and member FINRA/SIPC.
An investor should carefully consider the investment objectives, risks, charges and expenses of the investment found in the product and fund prospectuses. For prospectuses containing complete information, visit WSFinancialPartners.com or call 800.325.8583 (Integrity) or 800.433.1778 (National Integrity). Please read the prospectuses carefully before investing or sending money.
About W&S Financial Group Distributors, Inc.
W&S Financial Group Distributors, Inc. (wsfinancialpartners.com) distributes fixed, variable and immediate annuities and life insurance products from Western-Southern Life Assurance Company, Integrity Life Insurance Company and National Integrity Life Insurance Company, all member companies of Western & Southern Financial Group, Inc. Variable products are distributed through Touchstone Securities, Inc.¹ Marketing through a national network of broker-dealers, financial advisors, independent agents and financial institutions, W&S Financial Group Distributors assists financial professionals in helping individuals invest for, live in and manage risk during retirement.
About Western & Southern Financial Group
Western & Southern Financial Group (Western & Southern) is a Cincinnati-based Fortune 500 diversified family of financial services companies with assets owned and managed in excess of $55 billion as of March 31, 2012. Western & Southern’s six life insurance companies (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 the following ratings for financial strength: Standard & Poor’s AA+ Very Strong (currently the highest rating held by any life insurance company and making Western & Southern one of the eight highest-rated life insurance groups in the world), A.M. Best A+ Superior, Fitch AA Very Strong and Moody’s¹ Aa3 Excellent. With a heritage dating to 1888, the group’s affiliates also include Capital Analysts Incorporated;², ³ Eagle Realty Group, LLC; Fort Washington Investment Advisors, Inc.² IFS Financial Services, Inc.; Touchstone Advisors, Inc.;² Touchstone Securities, Inc.³ and W&S Financial Group Distributors, Inc. Western & Southern is the title sponsor of the Western & Southern Open (www.wsopen.com) tennis tournament, a premier event in the U.S. Open Series featuring the world’s top-ranked professional male and female players.
¹ Lafayette Life is not rated by Moody’s.
² A registered investment advisor.
³ A registered broker-dealer and member FINRA/SIPC.
Ratings are current as of April 1, 2012, and refer to the claims-paying ability of the insurance company and not to the safety, stability or performance of any investment product.