Fixed annuity review and rates
Nationwide Secure Growth NY
The Nationwide Secure Growth is a Single Premium Deferred Annuity with an optional market value adjustment. The initial minimum contribution is $10,000 qualified and non-qualified. There is an annual 10% non-cumulative free withdrawal of accumulated value. Systematic withdrawals are an option. The surrender charge schedule varies by rate term and is waived in the event of annuitization, death, diagnosis of a terminal illness or nursing home confinement (may not be available in all states).
Maximum issue age
Maximum issue age
- There is no maximum issue age for the contract owner; the maximum annuitant issue age is 90.
Plan types
- Non-Qualified, IRA, Roth IRA, SEP IRA, Simple IRA, and 401(a), Charitable Remainder Trust (CRT).
CDSC-free withdrawals
- 10% of the contract value will be available immediately, renews each contract year (noncumulative)
- Required minimum distribution (RMD) amounts are not subject to CDSC
- Death benefit distributions are not subject to CDSC
- Annuitization distributions are not subject to CDSC
Market Value Adjustment
Any amount withdrawn in excess of the remaining free withdrawal amount is subject to a CDSC and MVA, if applicable. The MVA is an adjustment that may be applied if you make a partial withdrawal or fully surrender your contract before the end of the CDSC period. The MVA may be positive, negative or zero. If the MVA is negative, it could decrease the amount that you receive when you take a withdrawal or surrender. Conversely, if the MVA is positive, it could increase the amount you receive.
Return of Purchase Payment
During the CDSC period, the contract owner receives a return of principal upon full surrender of the contract, less previous withdrawals and applicable state premium taxes; electing this option reduces the interest rate credited to the purchase payment; the Return of Purchase Payment option is not available if a Market Value Adjustment is elected.
Any amount withdrawn in excess of the remaining free withdrawal amount is subject to a CDSC and MVA, if applicable. The MVA is an adjustment that may be applied if you make a partial withdrawal or fully surrender your contract before the end of the CDSC period. The MVA may be positive, negative or zero. If the MVA is negative, it could decrease the amount that you receive when you take a withdrawal or surrender. Conversely, if the MVA is positive, it could increase the amount you receive.
Return of Purchase Payment
During the CDSC period, the contract owner receives a return of principal upon full surrender of the contract, less previous withdrawals and applicable state premium taxes; electing this option reduces the interest rate credited to the purchase payment; the Return of Purchase Payment option is not available if a Market Value Adjustment is elected.
Interest Rates
| Guaranteed Years | Surrender Years | Guaranteed Yield | Current Yield |
|---|---|---|---|
| 7 | 7 | 4.45% | 4.45% |
| 7 | 7 | 4.75% | 4.75% |
| 5 | 5 | 4.65% | 4.65% |
| 5 | 5 | 4.35% | 4.35% |
| 1 | 5 | 1.67% | 4.35% |
| 1 | 5 | 1.73% | 4.65% |
| 1 | 7 | 1.54% | 4.75% |
| 1 | 7 | 1.49% | 4.45% |
| 7 | 7 | 4.95% | 4.95% |
| 7 | 7 | 4.8% | 4.8% |
| 5 | 5 | 4.6% | 4.6% |
| 5 | 5 | 4.75% | 4.75% |
| 1 | 7 | 1.54% | 4.8% |
| 1 | 7 | 1.56% | 4.95% |
| 1 | 5 | 1.75% | 4.75% |
| 1 | 5 | 1.72% | 4.6% |
Brochure
Free withdrawal
10%
Types of funds
Non-Qualified, IRA, 401a, SEP IRA, IRA-Roth, SIMPLE IRA, Inherited IRA, and NQ Stretch