Nationwide Peak (Most States)
Highlights
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
7 Years |
|
Surrender schedule
|
9%8%7%6%5%4%3% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
05/09/2016 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
90 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, Inherited IRA, and NQ Stretch |
Brochure
|
Open brochure |
Find out if the Nationwide Peak (Most States) is the right product for you.
Premium Notes
Annuitant: 90 for single life, 85 for joint
Owner may be any age.
Due to the passage of the SECURE Act, beneficiaries of certain tax-qualified accounts (401, 403(a), 403(b), 408(b), 408A, and governmental 457(b)) will be required to take a full payout from the inherited IRA within 10 years of the death of the original account holder.
Withdrawal Provisions
- 10% annually of contract value at beginning of term (noncumulative).
- Withdrawals will not receive any index account earnings.
Applies during the CDSC period to withdrawals in excess of the contract’s free withdrawal amount; does not apply to withdrawals made under a long-term care/confinement waiver, terminal illness/terminal injury waiver or required minimum distributions.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.5%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
11%
Cap
|
| 1-Year Morgan Stanley 3D PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year J.P. Morgan Mozaic II PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year Fixed Account |
Fixed
|
4.75%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
11.5%
Cap
|
| 1-Year Morgan Stanley 3D PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year J.P. Morgan Mozaic II PTP Cap |
Point to Point
Annual
|
10%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Care Concierge | Yes |
Waivers
Terminal Illness
Terminal illness or injury waiver: 100% of the contract value may be withdrawn penalty-free after the first contract year if terminal illness or injury is diagnosed after the contract is issued; may not be available in all states.
Annuitization
Annuitization begins on the annuity commencement date and is irrevocable once payments have begun; the annuity commencement date is the first contract anniversary on or after the date the oldest annuitant on the contract reaches age 100 and cannot be changed, unless state law prohibits such a restriction
Confinement
Long-term care or confinement waiver: 100% of the contract may be withdrawn penalty free if you are confined to a nursing home for a continuous 90-day period after the first contract year; confinement must begin while contract is in force and may not be available in all states. The nursing home waiver does not include home health care.
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