Nationwide New Heights Select 10 (Most States)
A subsidiary of Nationwide Mutual, Nationwide Life Insurance Company was founded in 1929. They have become experts in offering financial solutions by providing a diverse range of products, including life insurance, annuities, retirement plans, and mutual funds. This variety of offerings has enabled them to give customers flexibility in choice optimization to better secure their financial futures. For almost a century, the company has shown a dedication to innovative strategies and customer service, continuously developing new products and features to meet the ever-evolving needs of its clients. Interestingly enough, Nationwide Life has actually transitioned from being a small mutual auto insurance company in Ohio upon its inception into one of the most prevalent insurance and financial service providers in the US.
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Nationwide New Heights Select 10 (Most States)
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Ratings:
- A.M. Best A+
- S&P A+
- Moody's A1
- Comdex 90
About Product
Type
Fixed Index
Purpose
Lifetime Income & Legacy
Term
10 Years
Surrender schedule
10%10%9%8%7%6%5%4%3%2%
Fee withdrawal:
7%
Market Value Adjustment
Yes
Return Of Premium
Yes
Minimum Contribution
$25,000
Maximum Contribution
$1,000,000
Max Age Qualified
80
Types Of Funds
Non-Qualified, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, Inherited IRA, and NQ Stretch
Launch Date
03/08/2021
Nationwide New Heights Select is a single premium fixed indexed deferred annuity. New Heights Select offers a growth opportunity with strategy options that track the performance of an index and lock in earnings at the end of each strategy term. Strategy options also guarantee your contract value will never go down due to the negative performance of an index.
Please note if an independent agent wants to sell New Heights Select, they have to go through Annexus.
Please note if an independent agent wants to sell New Heights Select, they have to go through Annexus.
Available in states:
AL, AZ, AR, CO, DC, FL, GA, HI, IL, IN, KS, KY, LA, ME, MD, MA, MI, MT, NE, NM, NC, ND, SD, TN, VT, VA, WV, and WI
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 2-Year Goldman Sachs New Horizons Balanced Allocation Participation Rate with Spread Option A |
Balanced Allocation
Biennial
|
225%
Participation
0.75%
Spread
|
| 2-Year Goldman Sachs New Horizons Balanced Allocation Participation Rate Option B |
Balanced Allocation
Biennial
|
205%
Participation
|
| 2-Year SG Macro Compass Balanced Allocation Participation Rate with Spread Option A |
Balanced Allocation
Biennial
|
165%
Participation
0.75%
Spread
|
| 2-Year SG Macro Compass Balanced Allocation Participation Rate Option B |
Balanced Allocation
Biennial
|
150%
Participation
|
| 2-Year NYSE Zebra Edge II Balanced Allocation Participation Rate with Spread Option A |
Balanced Allocation
Biennial
|
205%
Participation
0.75%
Spread
|
| 2-Year NYSE Zebra Edge II Balanced Allocation Participation Rate Option B |
Balanced Allocation
Biennial
|
185%
Participation
|
| 2-Year S&P 500 Balanced Allocation Participation Rate with Spread Option A |
Balanced Allocation
Biennial
|
60%
Participation
1.95%
Spread
|
| 2-Year S&P 500 Balanced Allocation Participation Rate with Declared Rate Option B |
Balanced Allocation
Biennial
|
0.25%
Fixed
40%
Participation
|
| 2-Year J.P. Morgan Mozaic II Balanced Allocation Participation Rate with Spread Option A |
Balanced Allocation
Biennial
|
185%
Participation
0.75%
Spread
|
| 2-Year J.P. Morgan Mozaic II Balanced Allocation Participation Rate Option B |
Balanced Allocation
Biennial
|
165%
Participation
|
| 2-Year MSCI EAFE Balanced Allocation Participation Rate with Spread Option A |
Balanced Allocation
Biennial
|
80%
Participation
1.95%
Spread
|
| 2-Year MSCI EAFE Balanced Allocation Participation Rate with Declared Rate Option B |
Balanced Allocation
Biennial
|
0.5%
Fixed
55%
Participation
|
| 1-Year Goldman Sachs New Horizons Balanced Allocation Participation Rate Option B (Limited States) |
Balanced Allocation
Annual
|
145%
Participation
|
| 1-Year SG Macro Compass Balanced Allocation Participation Rate with Spread Option A (Limited States) |
Balanced Allocation
Annual
|
125%
Participation
0.75%
Spread
|
| 1-Year SG Macro Compass Balanced Allocation Participation Rate Option B (Limited States) |
Balanced Allocation
Annual
|
115%
Participation
|
| 1-Year NYSE Zebra Edge II Balanced Allocation Participation Rate with Spread Option A (Limited States) |
Balanced Allocation
Annual
|
150%
Participation
0.75%
Spread
|
| 1-Year NYSE Zebra Edge II Balanced Allocation Participation Rate Option B (Limited States) |
Balanced Allocation
Annual
|
135%
Participation
|
| 1-Year S&P 500 Balanced Allocation Participation Rate with Spread Option A (Limited States) |
Balanced Allocation
Annual
|
50%
Participation
1.95%
Spread
|
| 1-Year S&P 500 Balanced Allocation Participation Rate Option B (Limited States) |
Balanced Allocation
Annual
|
0.25%
Fixed
30%
Participation
|
| 1-Year J.P. Morgan Mozaic II Balanced Allocation Participation Rate with Spread Option A (Limited States) |
Balanced Allocation
Annual
|
135%
Participation
0.75%
Spread
|
| 1-Year J.P. Morgan Mozaic II Balanced Allocation Participation Rate Option B (Limited States) |
Balanced Allocation
Annual
|
120%
Participation
|
| 1-Year MSCI EAFE Balanced Allocation Participation Rate with Spread Option A (Limited States) |
Balanced Allocation
Annual
|
60%
Participation
1.95%
Spread
|
| 1-Year MSCI EAFE Balanced Allocation Participation Rate Option B (Limited States) |
Balanced Allocation
Annual
|
0.5%
Fixed
40%
Participation
|
| 1-Year Goldman Sachs New Horizons Balanced Allocation Participation Rate with Spread Option A (Limited States) |
Balanced Allocation
Annual
|
155%
Participation
0.75%
Spread
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| High Point Enhanced Death Benefit Rider | No | 0.50% annually |
| Nationwide High Point 365 Select rider with Bonus | No | 1.10% annually |
| New Heights Select 10 High Point 365 | No | 0.95% annually |
| High Point Select Enhanced Death Benefit Rider with Bonus | Yes | 0.80% annually |
Waivers
Confinement
After the first contract year, if the client has a qualifying long-term care event or terminal illness or injury, all withdrawals will be treated as free withdrawals and receive full earnings to-date.
Premium Notes
Balanced Allocation Strategy (BAS) options, also known as strategy options, are a blend of an index component, a declared rate component, and a strategy spread component that are combined to determine earnings. A contract may be allocated to a maximum of five strategy options at any time.
Withdrawal Provisions
Accessing your money
At any time you may have access to your money, subject to certain terms and conditions. After the first contract anniversary and through the end of the Surrender Charge period, you may withdraw up to 7% of your contract value each year as a free withdrawal without incurring a Surrender Charge (or MVA or recoupment of unvested bonus, if applicable) and receive full earnings-to-date on the amount withdrawn. After the Surrender Charge period, 10% of your contract value each year will receive full earnings-to-date if withdrawn. The amount of any Required Minimum Distribution (RMD) associated with your contract value will be treated as a free withdrawal.
Required Minimum Distribution (RMD)
Available free of Surrender Charges and MVA (if applicable).
Market Value Adjustment (MVA)
Applies during the Surrender Charge period to withdrawals in excess of the contract’s free withdrawal amount, and does not apply to long-term care event or terminal illness or injury withdrawals or if a death benefit is payable; not applicable in all states. Please refer to the back page for more information on MVA.
At any time you may have access to your money, subject to certain terms and conditions. After the first contract anniversary and through the end of the Surrender Charge period, you may withdraw up to 7% of your contract value each year as a free withdrawal without incurring a Surrender Charge (or MVA or recoupment of unvested bonus, if applicable) and receive full earnings-to-date on the amount withdrawn. After the Surrender Charge period, 10% of your contract value each year will receive full earnings-to-date if withdrawn. The amount of any Required Minimum Distribution (RMD) associated with your contract value will be treated as a free withdrawal.
Required Minimum Distribution (RMD)
Available free of Surrender Charges and MVA (if applicable).
Market Value Adjustment (MVA)
Applies during the Surrender Charge period to withdrawals in excess of the contract’s free withdrawal amount, and does not apply to long-term care event or terminal illness or injury withdrawals or if a death benefit is payable; not applicable in all states. Please refer to the back page for more information on MVA.
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