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Retirement Planning 101: Accumulate wealth and manage risk
Ohio National offers a balance of growth potential and stability that can help address your specific income needs while helping protect against risk. Our ONcore variable annuities may be right for your needs. We offer the following products:
- ONcore Premier and Premier II – Full featured
- ONcore Lite III – 4-year surrender period
- ONcore Ultra II – 4-year surrender period
- ONcore Value – Low M&E
- ONcore Wealth Foundation - Liquidity option provides shortened surrender period for flexibility
- ONcore Select - Liquidity option provides shortened surrender period for flexibility
- ONcore Xtra and Xtra II – Earn an extra credit of either 4% (Xtra) or up to 5% (Xtra II) on purchase payments. Note: Products that pay an investment credit may have a longer surrender period than a similar annuity without an investment credit. Therefore, you should consider expenses and other factors along with an annuity’s features and enhancements to make sure it meets your financial needs.
Click on the following links to skip to the following features:
Optional Living and Death Benefit Riders
When you choose an Ohio National ONcore variable annuity and include one or more optional living and death benefit riders, a broad selection of investment options from well known money managers is available to meet your personal goals. (Note: Not all options are available with all riders).
- Managed Volatility Portfolios (MVPs)– These portfolios seek to reduce market volatility, and provide consistent returns over time.
- AssetAllocation Models – We offer five Asset Allocation Models ranging from conservative to aggressive plus an MVP Model to match your personal level of risk toleran ce. Not all Models available with all riders.
- Self-directed asset allocation – If you prefer, your representative can help you develop a personal asset allocation plan by selecting up to 18 portfolios from more than 70 variable portfolios and our Fixed Accumulation Account (if available). Not available with all riders.
- Dollar-cost averaging (DCA) – A DCA program will automatically transfer your assets from a Fixed Accumulation Account(if available)or DCA Account (if available) into other investment options on a regularly scheduled basis. DCA helps to curb the timing risk of purchases.
Optional Living and Death Benefit Riders
Optional benefits can add flexibility to your ONcore variable annuity contract. Ohio National offers both living and death benefits that, if added to your contract, may help you protect your principal, your heirs, and help you plan more effectively for your financial needs.
Click on the following links to skip to the following riders:
Optional Living Benefit Riders
Optional Death Benefit Riders
Optional Living Benefit Riders
These riders enable you to take advantage of upside market potential and include guarantees that may protect your investment. These riders are available for an additional fee when purchased in tandem with an ONcore variable annuity. Your financial adviser can review the rider features to determine whether the riders provide the benefits you need.
- Guaranteed Lifetime Withdrawal Benefit (GLWB) Plus Riders1 – The Guaranteed Lifetime Withdrawal Benefit Plus Riders (available as either Single Life or Joint Life) provide annual credits (when no withdrawals are taken), and guarantee lifetime withdrawals during the Lifetime Withdrawal Period (ages 59½ and older) with the opportunity to increase your withdrawal stream by capturing potential market gains. They also provide protection in declining markets by ensuring that your withdrawal stream will continue regardless of market performance.
- Guaranteed Lifetime Withdrawal Benefit (GLWB) Preferred IS Riders1 – The GLWB Preferred IS Riders2 (available as either Single Life or Joint Life) guarantee you can withdraw a percentage of your rider base each year until the later of your 15th anniversary or the date your Contract Value is reduced to $0. If your Contract Value is reduced to $0 after the 15th rider anniversary, your lifetime withdrawal amount will be determined by a formula utilizing your then-current Maximum Annual Withdrawal (MAW) amount and the 90-day average rate of the 10-Year U.S. Treasury. If your Contract Value is reduced to $0 prior to the 15th rider anniversary, you will receive the greater of your then-current MAW amount or the lifetime withdrawal amount described previously until the 15th rider anniversary, and the lifetime withdrawal amount from that point on. This amount will be between 3% and 9%. On the anniversary immediately following the Annuitant's 95th birthday, the rider will enter the Lifetime Annuity Period. You will receive the greater of the lifetime withdrawal amount or MAW for the rest of your life.
Withdrawals are based on age at time of first withdrawal or following a Step-Up.3 If you don’t need immediate income, we’ll credit 7% of your original purchase payment to your rider base (the amount your income is based upon) for each of the first 15 years in which you don’t make a withdrawal. If you don’t need to withdraw the full allowed amount in any of the first 15 years, you’ll receive a partial credit to your rider base on the following anniversary. For example, if you were allowed to withdraw 6%, but only withdrew 3% (50% of your allowed amount), you would receive 50% of your 7% credit, or 3.5%.
Each anniversary your Contract Value is higher than your rider base, your rider base will step up, increasing the amount you’re allowed to withdraw. Your 7% and partial credits will then be based on, and added to, the new, higher amount.
- Guaranteed Principal Protection (GPP) Rider1 – Not available in conjunction with GLWB Riders. This rider guarantees return of original purchase payment and any additional purchase payments made within the first six months of the contract on the 10th anniversary. Withdrawals reduce the benefit pro-rata, which means the benefit is reduced by the same percentage reduction to the Contract Value that resulted from the withdrawal. The 10-year term can be reset on any anniversary after the first five years (up to age 80). At reset, any portfolio gains and additional purchase payments (adjusted for withdrawals) are included in the Guaranteed Principal Amount and a new 10-year term begins. The rider charge rate at reset may be higher than the original rate. If not reset at the end of a 10-year term, and if your Eligible Contract Value is less than your Guaranteed Principal Amount, the difference will be added to your contract in a lump sum. Without the GPP rider, your variable annuity is subject to investment risks, including possible loss of principal. Surrendering during a contract year incurs a full annual rider charge. If all requirements are met, this rider will guarantee principal regardless of how the variable portfolios perform.
Managed Volatility Portfolio (MVP) Investment Requirements
With the GLWB and GPP Riders, your purchase payments are allocated amongst the MVPs.1 These portfolios seek to reduce market volatility, and provide consistent returns over time. You may also allocate your purchase payments to a Dollar Cost Averaging account (if available) and then transfer to the MVPs in accordance with MVP Requirements.
Optional Death Benefit Riders
These riders allow you to customize your annuity and leave a legacy to the most important people or organizations in your life. Death benefit riders may provide benefits that exceed or are in addition to the base contract death benefits if you die before the Annuity Payout Date. These riders are available for an additional fee when purchased in tandem with an ONcore variable annuity. Your financial adviser can review the rider features to determine whether the riders provide the benefits you need. See your financial adviser for additional details and fees.
- Combo Death Benefit Rider – Not available with any other rider. This rider provides a Step-Up and 6% Roll-Up on each contract anniversary prior to the
Annuitant's 81st birthday. The death benefit will equal the greater of the Roll-Up Base or the Step-Up Base. The death benefit is increased for net purchase payments. Withdrawals reduce the death benefit pro-rata, which means the benefit is reduced by the same percentage reduction to the Contract Value that resulted from the withdrawal.
- Premium Protection Death Benefit Rider – Only available with the GLWB Plus Riders. This rider guarantees that beneficiaries will receive no less than the Annuitant’s total purchase payments via a combination of GLWB Plus Rider withdrawals and a death benefit. Even if the Contract Value is reduced to zero, any remaining death benefit is still payable; the death benefit is reduced dollar-for-dollar for withdrawals up to the Maximum Annual Withdrawal (MAW) amount under a GLWB Plus Rider. Excess withdrawals will reduce the death benefit by the greater of a pro-rata reduction or the dollar amount of the withdrawal.
- Annual Step-Up Death Benefit Rider – Available with all living benefit riders. This rider preserves potential gain on every anniversary (adjusted for subsequent purchase payments and withdrawals) by increasing the death benefit to the Contract Value, if higher. Withdrawals reduce the death benefit pro-rata, which means the benefit is reduced by the same percentage reduction to the Contract Value that resulted from the withdrawal. The rider stops accumulating at the anniversary after the Annuitant’s 85th birthday. After this anniversary, the benefit amount remains until the Annuity Payout Date, but will no longer increase in value. The charge for the rider will continue to be deducted while the rider is in effect.
- Gain Enhancement Benefit Plus Death Benefit Rider – Not available in conjunction with GLWB Plus Riders. This rider pays 40% of investment earnings (gains within the contract) as an additional death benefit upon the Annuitant’s death. No benefit is received if there is no gain in the contract. The maximum benefit is 100% of purchase payments, up to $1 million on each life. Withdrawals reduce the benefit pro-rata, which means the benefit is reduced by the same percentage reduction to the Contract Value that resulted from the withdrawal.
- Gain Enhancement Benefit Death Benefit Rider – Not available in conjunction with GLWB Plus Riders. This rider pays 25% of investment earnings (gains within the contract) as an additional death benefit upon the Annuitant’s death. No benefit is received if there is no gain in the contract. The maximum benefit is 50% of purchase payments, up to $1 million on each life. Withdrawals reduce the benefit pro-rata, which means the benefit is reduced by the same percentage reduction to the Contract Value that resulted from the withdrawal.
Find out how ONcore variable annuities and optional riders can help with your specific retirement planning needs.
Yourfinancial professionalcan help you develop a personal retirement income strategy that will give you the confidence you need to travel safely down the road to retirement.
1 Because the Managed Volatility Portfolios (MVPs) are managed to mitigate downside risk they may underperform during periods of market appreciation.
2 Not available with ONcore Xtra products.
3 Maximum Annual Withdrawal Amount is based upon the Annuitant’s age at the time of first withdrawal or following a Step-Up. With the joint life version of the rider, the contract owner and spouse will be able to make annual withdrawals up to their allowed annual withdrawal amount, based upon the age of the younger spouse. As a result, if there is a substantial age difference between the two Participating Spouses, there is the possibility of a longer waiting period before withdrawals allowed under the rider can begin.
*Fees and expenses for bonus annuities may be higher and have longer surrender periods than contracts that do not have a bonus feature.
Not a deposit | Not FDIC insured | Not guaranteed by any bank | May lose value | Not insured by any government agency
Variable Annuity Issuer:The Ohio National Life Insurance Company
Registered Product Distributor : Ohio National Equities, Inc., Member FINRA
Variable annuities are sold by prospectuses, which contain more complete information including fees, surrender charges (contingent deferred sales charges) and other costs that may apply.
To obtain current prospectuses, contact your financial professional or visit ohionational.com/fundinfo. Please read the product and fund prospectuses carefully before you invest or send money. Investors should consider the investment objectives, strategies, risk factors, charges and expenses of the underlying variable portfolios carefully before investing. The fund prospectus contains this and other information about the underlying variable portfolios.
Early withdrawals or surrenders may be subject to surrender charges. Withdrawals are also subject to ordinary income tax and, if taken prior to age 59½, a 10% federal tax penalty may apply. For tax purposes only, withdrawals will come first from any gain in the contract. Federal and state tax laws in this area are complex and subject to change. Consult your personal tax adviser on all tax matters. Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.
There is no additional tax-deferral benefit for contracts purchased in an IRA or other tax-qualified plan because these are already afforded tax-deferred status. An annuity should only be purchased in an IRA or qualified plan if you value some of the other features of the annuity and are willing to incur any additional costs associated with the annuity.
Variable annuities are long-term investment vehicles designed to accumulate money on a tax-deferred basis for retirement purposes. Upon retirement, variable annuities may pay out an income stream of a series of payments or a lump sum. If you die during the accumulation or payout phase, your beneficiary may be eligible to receive any remaining contract value.
Guarantees are based upon the claims-paying ability of The Ohio National Life Insurance Company. Guarantees do not apply to the investment performance or account value of the underlying variable portfolios. As with any investment, investing in variable portfolios involves risk, including possible loss of principal.
Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.
This material is for general use with the public and is not intended to provide investment advice for any individual.
The Ohio National Life Insurance Company and its affiliates have financial interests in the sale of the product detailed within this material.
Neither asset allocation nor diversification ensures a profit or protects against loss in a declining market.
The annual expense for the entire ONcore Variable Annuities product line (without optional added benefits) ranges from 0.65% - 1.80% depending upon the product. Product availability varies by broker/dealer. See individual product prospectuses for specific per-product fees. Rider fees are deducted on each anniversary.
Optional Rider Annual Fees
- Guaranteed Lifetime Withdrawal Benefit (GLWB) Preferred IS Riders: 1.20% of the GLWB Base for the GLWB Preferred IS Rider (Single Life) and 1.40% of the GLWB Base for the GLWB Preferred IS Rider (Joint Life).
- Guaranteed Lifetime Withdrawal Benefit (GLWB) Plus Riders: 1.05% of the GLWB Base for the GLWB Plus Rider (Single Life) and 1.35% of the GLWB Base for the GLWB Plus Rider (Joint Life).
- Guaranteed Principal Protection Rider: 0.65% of the average Guaranteed Principal Amount.
- Premium Protection Death Benefit Rider: 0.10% of the of the GLWB Death Benefit Amount (Annuitant issue ages 0-70); 0.25% of the GLWB Death Benefit Amount (Annuitant issue ages 71-75).
- Annual Step-Up Death Benefit Rider: 0.25% of the Annual Step-Up death benefit Amount.
- Combo Death Benefit Rider: 0.65% of the Guaranteed Minimum Death Benefit Base
- Gain Enhancement Benefit Plus Rider: 0.30% of the death benefit amount (issue ages 0-70); 0.60% of the death benefit amount (issue ages 71-75).
- Gain Enhancement Benefit Rider: 0.15% of the death benefit amount (issue ages 0-70); 0.30% of the death benefit amount (issue ages 71-75).